Estero, Fla. — JLL Capital Markets has brokered the $14.4 million sale of a 29,896-square-foot single-tenant grocery store in Estero leased to Sprouts Farmers Market. Michael Brewster, Brad Peterson and Tommy Isola of JLL represented the seller, GBT Realty, in the transaction. An undisclosed private investor purchased the property. The Sprouts store is located at 19990 S. Tamiami Trail in metro Fort Myers.
Lakeland, Fla. — Transwestern Real Estate Services has brokered the sale of Lakeland Town Center, a 282,949-square-foot shopping center at 917 E. Memorial Blvd. in Lakeland. John Bell and Fred Victor of Transwestern arranged the $10.5 million sale of the property to a private equity firm on behalf of the undisclosed seller. The 26.2-acre retail center was 53 percent leased at the time of sale. National and local retailers encompassing grocery, government, finance, home furnishings, restaurants and discount stores make up the tenant roster.
North Charleston, S.C. — SRS Real Estate Partners has arranged the $7.6 million sale of a two-tenant, 65,000-square-foot retail property located at 7800 Rivers Ave. in North Charleston. The property is fully occupied by a 55,000-square-foot Hobby Lobby and a 10,000-square-foot Boot Barn. Matthew Mousavi, Patrick Luther, Britt Raymond and Kyle Fant of SRS represented the seller, an active developer in the Southeast. SRS also secured financing on behalf of the buyer, a New Jersey-based private investor acting in a 1031 exchange.
St. Petersburg, Fla. — Franklin Street has arranged the $5.1 million sale of Central Plaza, a 19,016-square-foot, fully occupied shopping center located at 3270 Central Ave. in St. Petersburg. The property falls within a Qualified Opportunity Zone. Anthony Suarez and Ryan Derriman of Franklin Street represented the seller, a California-based private investor, in the transaction. The undisclosed buyer is a local investor. The plaza features seven net-leased tenants with an average tenure of over 22 years. Tenants at the center include Rent-A-Center, Amscot and Rainbow Clothing.
Dothan, Ala. — Pegasus Investments Real Estate Advisory Inc. has arranged the $4.7 million sale of a newly constructed retail center located in Dothan known as Dothan Commons. The property was 100 percent leased at the time of sale to tenants such as Starbucks Coffee, AT&T, Jersey Mike’s Subs, Merle Norman Cosmetics, Southern Nutrition and Everly Nail Spa. David Chasin of Pegasus represented the seller, an undisclosed retail and shopping center developer based in the Southeast, in the transaction. Bill Howard of Bennett Realty & Development represented the buyer, an …
Indianapolis — Marcus & Millichap has arranged the $2.9 million sale of North Meridian Shops in Indianapolis. The 17,000-square-foot retail strip center is located at 3787 N. Meridian St. Many of the property’s tenants, including T-Mobile, have operated at the location in excess of 10 years. Jordan Klink of Marcus & Millichap’s The Klink Group represented the seller, J&R Enterprises of Indianapolis II LLC. An agent out of Marcus & Millichap’s Philadelphia office represented the buyer, BA Properties I LLC, which is a Pennsylvania-based limited liability company.
Independence, Mo. — Investors Realty Inc. has brokered the $20.3 million sale of Marketplace Shopping Center in Independence, just east of Kansas City. The 253,000-square-foot shopping center is 91 percent leased. Anchor tenant Price Chopper has occupied the property for 34 years. Other tenants include Petco, Big Lots, Viva Fashion and FedEx. Ember Grummons of Investors Realty represented the seller, a partnership between Walton Street Capital and NewQuest Epic. Grummons also procured the buyer, Wichita-based HJH Investments.
Roswell, Ga. — JLL Capital Markets has brokered the $37.6 million sale of Roswell Market Place, a fully leased, 95,522-square-foot shopping center in the metro Atlanta city of Roswell. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the locally based seller, Branch Properties LLC, in the sale. East Coast Acquisitions purchased the property. Roswell Market Place is located at 10800 Alpharetta Highway. Built in 1986 and most recently renovated in 2015 and 2016, the center is anchored by Sprouts Farmers Market. The tenant roster also includes Starbucks, Chipotle, …
Delray Beach, Fla. — PEBB Enterprises has acquired Delray Commons, a 71,000-square-foot shopping center located at 5024-5070 W. Atlantic Ave. in Delray Beach. Boca Raton, Fla.-based PEBB formed a joint venture dubbed KP Delray LLC with the center’s current owner, Cincinnati-based Topvalco Inc., for the acquisition. The sales price was $10.5 million. Built in 1981, Delray Commons has 65,940 square feet of inline retail space, a 3,036-square-foot Burger King outparcel and an approximately 2,000-square-foot Taco Bell outparcel. Sprouts Farmers Market has committed to anchor the center with a 23,256-square-foot store. …
Tempe, Ariz. — Marcus & Millichap has arranged the sale of retail property located at 1727 W. Ranch Road in Tempe. MAR Group acquired the asset from a private preferred developer of EoS Fitness for $9.6 million. EoS Fitness occupies the 38,000-square-foot property under a net lease agreement. Mark Thiel of Marcus & Millichap represented the seller and procured the buyer. Ryan Sarbinoff of Marcus & Millichap’s Phoenix office served as broker of record.
