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Investment sales

Escondido-Commons-Escondido-CA
CaliforniaInvestment salesNews

Marcus & Millichap Arranges Sale of 8,388-Square-Foot Escondido Commons Retail Property in California

by Katie Sloan

Escondido, Calif. — Marcus & Millichap has brokered the sale of Escondido Commons, a retail property in the San Diego suburb of Escondido. Garry Hanafin of The Hanafin Family Trust sold the asset to Bobby Hrdina of STNC Properties LLC for $1.6 million. Located at 145-49 S. Orange St. and 412-20 W. 2nd Ave., Escondido Commons offers 8,388 square feet of space in 12 retail suites spread across three adjacent buildings and two parking lots. At the time of closing, the center was fully leased to nine tenants. Nick Totah …

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Amherst-Shopping-Center_Massillon-Ohio
Investment salesNewsOhio

Axiom Purchases 98,385-Square-Foot Amherst Shopping Center in Ohio

by Katie Sloan

Massillon, Ohio — Axiom Realty has purchased Amherst Shopping Center, a 98,385-square-foot shopping center located in Massillon. Marc’s anchors the property, which was 64 percent occupied at the time of sale. Other tenants at the center include Dollar General and a fitness retailer. Jonah Warshaw and Jacob Baruch of Legacy Realty Group Advisors brokered the transaction. 

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Investment salesMassachusettsNews

DLC Acquires Colony Place in Metro Boston for $86 Million

by Katie Sloan

Plymouth, Mass. — DLC has acquired Colony Place, a shopping center located in Plymouth in metro Boston, for $86 million. DLC purchased the property as part of joint venture with Temerity Strategic Partners (TSP). According to a press release issued by the company, DLC launched the venture in December 2023, with plans to double its portfolio by 2025. Principal Asset Management acted as adviser for the transaction. 

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South Terrace Plaza
Investment salesNewsTennessee

Marcus & Millichap Brokers $5.3 Million Sale of Retail Center in Chattanooga

by Katie Sloan

Chattanooga, Tenn. — Marcus & Millichap has brokered the $5.3 million sale of South Terrace Plaza, a 46,700-square-foot retail center located in Chattanooga. The property, which is shadow anchored by AMC Theatres, was 94 percent leased at the time of sale to 12 tenants. According to Marcus & Millichap, six new leases have been executed at the center within the past year. Zach Taylor and Eric Abbott of Marcus & Millichap office represented the seller, a Tennessee-based developer, in the transaction. Jody McKibben of Marcus & Millichap served as the broker …

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Shops-at-the-Crossing
Investment salesMichiganNews

Marcus & Millichap Brokers $8.9 Million Sale of Retail Center in Auburn Hills, Michigan

by Hayden Spiess

Auburn Hills, Mich. — Marcus & Millichap has brokered the $8.9 million sale of Shops at the Crossing, a retail center located in Auburn Hills. Built in 2002, the property comprises 48,364 square feet. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a private company based in Michigan. The team also procured the buyer, a West Coast-based private fund. The brokerage firm’s Steve Chaben assisted in closing the transaction as the Michigan broker of record.

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Shops-III-Anatolia-Marketplace
CaliforniaInvestment salesNews

Hanley Arranges $4.8 Million Sale of Retail Pad in Metro Sacramento

by Hayden Spiess

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.8 million sale of Shops III at Anatolia Marketplace, a multi-tenant retail pad in Rancho Cordova, roughly 13 miles outside Sacramento. Tenants at the property, which totals 5,900 square feet, include Popeyes Louisiana Kitchen, Cold Stone Creamery, Jamba and Capriotti’s Sandwich Shop. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC. Craig Lewis of Lewis Capital Advisors represented the buyer, a local private investor. 

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Virginia-Gateway_Gainesville-Va
Grocery-anchoredInvestment salesNewsVirginia

Federal Realty Acquires 665,000-Square-Foot Virginia Gateway Retail Center in Gainesville, Virginia for $215 Million

by Hayden Spiess

Gainesville, Va. — Federal Realty Investment Trust has acquired Virginia Gateway, a 665,000-square-foot retail center situated on 110 acres in Gainesville. The purchase price was $215 million. Tenants at the property, which is organized into five sections and was 95 percent occupied at the time of sale, include Giant Food, HomeGoods, Ulta Beauty, Total Wine & More and Hobby Lobby. 

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Grandview-Plaza_Florissant-Mo
Grocery-anchoredInvestment salesMissouriNews

Legacy Brokers $13.5 Million Acquisition of Shopping Center in Missouri 

by Hayden Spiess

Florissant, Mo. — Legacy Realty Group Advisors has brokered the $13.5 million sale of Grandview Plaza, a shopping center located in Florissant. Schnucks and Old Time Pottery anchor the property, which totals 297,257 square feet. Daniel Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented the buyer in the transaction, and Chase Young and Mike Joyce of CBRE represented the seller. 

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Walgreens_Tampa-Fla
FloridaInvestment salesNet leaseNews

Marcus & Millichap Arranges $6.1 Million Sale of Single-Tenant Property in Tampa, Florida

by Hayden Spiess

Tampa, Fla. — Marcus & Millichap has arranged the $6.1 million sale of a single-tenant property located in Tampa. Walgreens occupies the building on a net-lease basis. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap represented the seller, CP Thunder FS LLC, in the transaction. Evan Kristol and Felipe Echarte of Marcus & Millichap secured the buyer, JJR Apartments LLC, and Chris Marks of Marcus & Millichap arranged acquisition financing. 

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Content PartnersFaris Lee InvestmentsFeaturesFinanceInvestment salesRetail InsightRetailersVideos

Faris Lee: Unlocking Investment Opportunities in Today’s Retail Market

by Sarah Daniels

  At the ICSC LAS VEGAS 2024 conference, Nellie Day of Retail Insight discussed the current investment climate with Shaun Riley, managing principal of Faris Lee Investments. Riley highlights key aspects of the retail environment — discussing interest rates, bid-ask spreads, navigating the market and more. Investor Sentiment and Market Reactions Riley explains that investor sentiment is significantly influenced by interest rates. After two decades of low rates, recent hikes have led to a cautious approach among investors. “A lot of [investors] are waiting out until they see the returns …

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