Investment sales

Petsuites
GeorgiaInvestment salesNewsVirginia

SRS Brokers $10.6 Million Sale of Two Petsuites-Occupied Stores in Virginia, Georgia

by Julia Sanders

Newport News, Va. and Lawrenceville, Ga. — SRS Real Estate Partners’ National Net Lease Group has brokered the sales of two single-tenant retail properties for a combined $10.6 million. The properties are located in Newport News and Lawrenceville and were both built in 2020. Petsuites signed long-term, 20-year leases at both locations. Britt Raymond and Kyle Fant of SRS represented the seller, a North Carolina-based developer, in both 1031 exchange transactions. Both stores span 14,000 square feet. The Newport News location is located at 12533 Warwick Blvd. The property is …

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GeorgiaInvestment salesNew YorkNewsSouth Carolina

Valuerock Realty Acquires Three Net Lease Properties for $5.9 Million

by Julia Sanders

Irvine, Calif. — ValueRock Realty has acquired a property leased to CVS/pharmacy in Greenville, South Carolina, and two Chipotle Mexican Grill restaurants in Carrollton, Georgia, and Syracuse, New York for $5.9 million. The CVS/pharmacy property in Greenville was acquired for $2.06 million from an undisclosed New York-based individual. The tenant has 10 years remaining on its absolute, triple-net ground lease. The property leased to Chipotle Mexican Grill in Carrollton was acquired for $2.3 million from an undisclosed Georgia-based developer. The property triple-net-leased to Chipotle Mexican Grill in Syracuse was acquired …

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Investment salesNewsPennsylvania

Colliers Negotiates Sale of 37,840-Square-Foot Retail Center in Hamburg, Pennsylvania

by Julia Sanders

Hamburg, Pa. — Colliers International has negotiated the sale of a 37,840-square-foot retail center located at 552 State St. in the Lehigh Valley city of Hamburg. Pennsylvania-based grocer Weis Markets anchors the center. Scott Horner and Derek Zerfass of Colliers represented the seller, private investor Linda King, in the transaction. The duo also procured the buyer, Sar & Co.

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Investment salesNewsTexas

Local Developer Sells 28,000-Square-Foot Riverstone Plaza Retail Center in Metro Houston

by Julia Sanders

Sugar Land, Texas — A local developer doing business as LJ Parkway LLC has sold Riverstone Plaza, a 28,000-square-foot retail center in the southwestern Houston suburb of Sugar Land. Built in 2018, the property was 98 percent leased at the time of sale to a roster of 16 tenants that includes salons, medical services, a learning center and restaurants. Marc Peeler of NewQuest Properties represented the seller in the transaction. Bob Yuanjie of Ping Management LLC represented the undisclosed, locally based buyer.

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Blue Back Square
ConnecticutInvestment salesNews

Joint Venture Acquires 450,000-Square-Foot Mixed-Use Property in West Hartford, Connecticut

by Julia Sanders

West Hartford, Conn. — Blue Back Capital Partners LLC, a joint venture between Greenwich, Connecticut-based Charter Realty & Development Corp. and Rialto Capital, has acquired Blue Back Square, a 450,000-square-foot mixed-use property in West Hartford. The property was built in 2006 and includes 215,000 square feet of retail, restaurant and entertainment space, as well as 200,000 square feet of office and medical office space. Retail anchor tenants include Crate & Barrel, Cinepolis Cinemas, West Elm and Barnes & Noble. The seller was Starwood Retail Partners, which purchased the property in …

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Piggly Wiggly
Investment salesNewsWisconsin

The Boulder Group Arranges $3.3 Million Sale of Piggly Wiggly Property in Watertown, Wisconsin

by Julia Sanders

Watertown, Wis. — The Boulder Group has arranged the $3.3 million sale of a single-tenant property net leased to Piggly Wiggly at 1330 Memorial Drive in Watertown. The 27,000-square-foot building is situated less than 2.5 miles from downtown Watertown and 50 miles from Milwaukee and Madison. The Piggly Wiggly lease expires on Dec. 31, 2029, and features three 5-year renewal options. Jimmy Goodman and John Feeney of The Boulder Group represented the seller, a Wisconsin-based individual, in the transaction. The buyer was an undisclosed Wisconsin-based investor.

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Kings Canyon Pavilion
CaliforniaInvestment salesNews

Wood Investments Cos. Acquires 99 Cents Only-Anchored Shopping Center in Fresno for $11.8 Million

by Julia Sanders

Fresno, Calif. — Wood Investment Cos. Inc. has acquired Kings Canyon Pavilion shopping center, a 152,354-square-foot retail center anchored by 99 Cents Only in Fresno, for $11.8 million. Built in 2007, the 91 percent-occupied property is situated at 4965 East Kings Canyon Road. By the close of escrow, Wood Investments had secured leases with Raising Cane’s Chicken Fingers and Dutch Bros. to occupy two new single-tenant pad buildings. Both tenants are expected to open in mid-2022. Current tenants at the property include O’Reilly Auto Parts, Cricket Wireless Authorized Retailer, Corina’s …

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Heather Island Plaza
FloridaInvestment salesNews

CBRE Arranges Sale of 70,970-Square-Foot Heather Island Plaza in Ocala, Florida

by Julia Sanders

Ocala, Fla. — CBRE has arranged the sale of Heather Island Plaza, a 70,970-square-foot, Publix-anchored shopping center in Ocala. Built in 2000, the property is located at 7878 SE Maricamp Road and was 85 percent leased at the time of sale. CBRE represented the seller, a joint venture between Madison International Realty and SITE Centers Corp., in the transaction. The buyer, New Bandera Ventures, acquired the center for an undisclosed price.

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Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 26,318-Square-Foot Retail Center in Texas City, Texas

by Julia Sanders

Texas City, Texas — Marcus & Millichap has brokered the sale of Three Palms Retail Center, a 26,318-square-foot property in Texas City, located south of Houston. Gus Lagos, Alex Wolansky, Jacob Starr and Zuhare Rizvon of Marcus & Millichap represented the seller in the transaction. Riley Sharman, also with Marcus & Millichap, represented the buyer. Both parties were limited liability companies that requested anonymity.

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Shoppes on Route 31
IllinoisInvestment salesNews

Hanley Investment Group Arranges $4 Million Sale of Retail Pad Building in Metro Chicago

by Julia Sanders

Carpentersville, Ill. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of Shoppes on Route 31, an 11,035-square-foot multi-tenant retail property located roughly 42 miles outside Chicago in Carpentersville. Home Depot shadow-anchors the property, which is fully occupied by Panda Express, ATI Physical Therapy, Game Stop, a dental office, SportClips and T-Mobile. Brad Dessy of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, a private investor based in Arizona. Chuck Wasker of Colliers International represented the buyer, a private investor based in San …

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