Camarillo, Calif. — Colliers International has arranged the $61.5 million sale of Camarillo Village Square, a grocery-anchored retail center in Camarillo. The sale is the largest retail transaction in Southern California this year, according to the broker. El Warner of Colliers International represented the seller, Donahue Schriber, in the off-market disposition. The buyer was not disclosed. Camarillo Village Square is home to tenants including Sprouts, RiteAid, Big5 and PetSmart.
Nashville, Tenn. — Continental Realty Corp. (CRC) has acquired 111 Broadway, a 50,303-square-foot, mixed-use property in downtown Nashville. Tower Investments Inc. sold the property for $36 million. The four-tenant building is 100 percent leased to tenants including Rock Bottom Brewery, Wyndham-Margaritaville Vacation Club, Glen Campbell Museum and Platinum Cos. Constructed in 1930, the three-story property has been renovated over the past five years, including improvements to the roof, windows, exterior and elevator systems.
Algonquin, Ill. — Red Mountain Group Inc. has acquired Algonquin Commons, a 600,000-square-foot power center in Algonquin, a northwest suburb of Chicago. The purchase price and seller were undisclosed. Built in 2004, the property is 75 percent occupied by tenants such as Trader Joe’s, Ulta Beauty, Nordstrom Rack, DSW, Pottery Barn, Victoria’s Secret, Express, On the Border and Bonefish Grill. Red Mountain plans to invest $30 million for the renovation and repositioning of the center. Plans call for an indoor-outdoor covered entertainment area with an acre of open space. While …
Tucson, Ariz. — KeyBank Real Estate Capital has secured $11.4 million in acquisition financing for Rolling Hills Square, a 114,102-square-foot shopping center anchored by Fry’s grocery store in Tucson. The property includes six buildings and a vacant parcel. The financing, which was secured on behalf of Portal Investment Management, includes an initial funding of $9.8 million and a future funding of $1.6 million. The future funding will be used for tenant and capital improvement expenses as Portal Investment Management repositions the property. The loan is structured with a three-year, interest-only …
Rialto, Calif. — Marcus & Millichap has brokered the $2.2 million sale of a restaurant property occupied by Rally’s in the Los Angeles suburb of Rialto. A limited liability company sold the asset to an undisclosed buyer for $2.2 million. The 1,086-square-foot property was built in 2020 and is occupied under a 15-year absolute triple-net lease. The building features double drive-thru lanes. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller, while Matthew Luchs of Marcus & Millichap’s Ontario, California, office served as …
Lockport, N.Y. — New Jersey-based private equity firm First National Realty Partners has purchased Tops Plaza, a 166,634-square-foot shopping center located outside of Buffalo in Lockport. A 92,000-square-foot Tops grocery store anchors the property, which was 97 percent leased at the time of sale. The seller and sales price were not disclosed.
Rocklin, Calif. — Capital Rivers Commercial has arranged the sale of a retail showroom located at 4467 Granite Drive in Rocklin, roughly 22 miles outside Sacramento. The 15,600-square-foot building, which features a second-floor mezzanine level, sold for $4.1 million. Ryan Orn and Joe Blanton of Capital Rivers Commercial handled the transaction. The names of the seller and buyer were not released.
Alpharetta, Ga. — Skyline Seven Real Estate has arranged the $12.4 million sale of Rivermont Square, a 102,800-square-foot, Goodwill-anchored shopping center in the northern Atlanta suburb of Alpharetta. Kenny Holzer, Elliott Kyle and Chase Murphy of Skyline Seven represented the undisclosed seller in the transaction. Wes Allen with Pinnacle Leasing & Management LLC represented the undisclosed buyer. Rivermont Square includes a freestanding Starbucks Coffee, as well as a vacant outparcel previously occupied by Verizon Wireless. The 12-plus acre property is located at 8560 and 8514 Holcomb Bridge Road and is …
LaPlace, La. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.9 million sale of a 62,297-square-foot single-tenant retail property occupied by Winn Dixie in the New Orleans suburb of LaPlace. The property features a long-term, absolute triple-net lease that is corporate guaranteed by Winn-Dixie Stores Inc. Sean Lutz and Dan Elliot of SRS represented the seller, a private investor from Baton Rouge, Louisiana, in the transaction. The buyer was a family office also based in Baton Rouge.
Chesterfield Township, Mich. — Hanley Investment Group Real Estate Advisors has brokered the $2.4 million sale of an Olive Garden ground lease in Chesterfield Township, about 30 miles north of Detroit. The 7,757-square-foot restaurant property, located at 27169 23 Mile Road, opened in the fall of 2020. The single-tenant building is situated on an outparcel directly in front of a Meijer supermarket. Jeff Lefko and Bill Asher, in conjunction with ParaSell Inc., represented the buyer, a Southern California-based 1031 exchange buyer. Phil Sambazis of Marcus & Millichap represented the seller, …
