Frisco, Texas — STRIVE has arranged the sale of Frisco Crossing, a 12,158-square-foot retail center located on the northern outskirts of Dallas. Frisco Crossing was fully occupied at the time of sale by tenants such as Stonelake Family Dentistry, Palio’s Pizza Café and Frisco Pharmacy. Hudson Lambert of STRIVE represented the seller and procured the buyer, both of which were local investors that requested anonymity, in the transaction.
Watertown, Mass. — JLL Capital Markets has arranged the $130 million sale of Watertown Mall, a 260,867-square-foot power center in Watertown, a first-ring suburb just west of Boston. The property is 98 percent occupied by 10 tenants, including Target, Best Buy and the Registry of Motor Vehicles. Situated on 17.8 acres at 550 Arsenal St., Watertown Mall is adjacent to the 1 million-square-foot Arsenal Yards, the mixed-use redevelopment of a former armory. Watertown Mall Associates LP sold the property to Alexandria Real Estate Equities, according to local news outlet Wicked …
Alpharetta, Ga. — Hanley Investment Group Real Estate Advisors has arranged the $24.6 million sale of Alpharetta Commons, a 94,500-square-foot shopping center located in the Atlanta suburb of Alpharetta. Publix anchors the property, which is 98.7 percent occupied by tenants including Sports Clips, T-Mobile, a nail salon, dry cleaners, a liquor store and food and beverage outlets. Ed Hanley and Kevin Fryman of Hanley Investment Group, along with ParaSell Inc., represented the 1031 exchange buyer, a private investor based in Southern California. Chris Decouflé, Kevin Hurley and Matt Karempelis of …
Acworth, Ga. — SRS’ Investment Properties Group has brokered the $11.4 million sale of Cherokee Commons Shopping Center, a 103,719-square-foot property located 33 miles outside Atlanta in Acworth. Built in 1986, the center is currently 91 percent occupied by tenants including Kroger, Pet Supplies Plus and Cosmo Prof. Kyle Stonis and Pierce Mayson of SRS represented the seller, Collett Capital, in the disposition of the property to Bandera Ventures. The buyer was self-represented in the transaction.
Slidell, La. — Beau Box Commercial Real Estate has sold a former Target store location near Interstate 12 and Airport Road in Slidell to an undisclosed buyer. The property sold for $2 million and features a 125,000-square-foot retail building on a 12-acre parcel of land. Target closed their Slidell location in February of 2018.
Riverside, Calif. — Merlone Geier Partners has purchased Magnolia Tyler Center, a value-add shopping center located at 3650-3790 Tyler St. in the Inland Empire community of Riverside. A private family, which owned the property for more than 50 years, sold the center for $39.4 million. At the time of sale, the 182,653-square-foot property was 83 percent leased. Tenants include Aldi, Bob’s Discount Furniture, Big Lots, Bed Bath & Beyond, Starbucks Coffee, Olive Garden and America’s Tire. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the seller in …
San Antonio — Big V Property Group has acquired The RIM Shopping Center, a 1 million-square-foot retail and restaurant destination in San Antonio. Big V acquired the property, which is part of a larger mixed-use development, in partnership with New York-based Kimco Realty and San Diego-based Equity Street Capital. The seller and sales price were not disclosed. Big V will also manage the property.
Franklin, N.H. — JLL has negotiated the $11.5 million sale of a 51,230-square-foot retail building leased to Hannaford Supermarket in Franklin, located north of Manchester. The grocer has occupied the 11.5-acre property, which has the capacity to support 13,000 square feet of new development, for 30 years and recently extended its lease. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.
Trussville, Ala. — JLL Capital Markets has brokered the sale of Pinnacle at Tutwiler Farm, a 248,988-square-foot regional shopping center in Trussville, a suburb of Birmingham. Brad Buchanan, Jim Hamilton, Will Sledge, Tom Hall and Taylor Callaway of JLL marketed the property in coordination with online auction platform Ten-X on behalf of the sellers, Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates and Series 2007-C1. The undisclosed buyer was a private investor based out of Texas. The sales price was not disclosed. The Pinnacle at Tutwiler Farm …
Tucson, Ariz. — An affiliate of Los Angeles-based Portal Investment Management has purchased Rolling Hills Square, a grocery-anchored shopping center located in Tucson. Cincinnati-based Phillips Edison & Co. sold the property for an undisclosed price. Situated on 12.3 acres at the southwest corner of Kolb and Golf Links roads, Rolling Hills Square features 114,102 square feet of retail space. At the time of sale, the property was 96.2 percent occupied with Fry’s Food & Drug as the anchor tenant. Michael Hackett and Run Schubert of Cushman & Wakefield in Phoenix …