Investment sales

Chapin Crossing
FinanceInvestment salesNewsSouth Carolina

Aztec Group Secures $10.8 Million Acquisition Financing for Shopping Center in Chapin, South Carolina

by Julia Sanders

Chapin, S.C. — Aztec Group Inc. has secured $10.8 million in debt and equity for the acquisition of Chapin Crossing, a 72,714-square-foot, Publix-anchored shopping center in Chapin. Jason Shapiro, Sean Harrington and Joel Zusman of Aztec Group arranged the financing on behalf of the buyer, a partnership led by affiliates of Miami-based CF Properties Corp. A Missouri-based life insurance company provided the 10-year loan, which features a fixed interest rate under 3 percent. Located at 1235 Chapin Road, Chapin Crossing was built in 2017 and is situated at the southwest …

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City Place
CaliforniaInvestment salesMixed-useNews

Joint Venture Acquires 14-Acre Mixed-Use Property in Long Beach, California

by Julia Sanders

Long Beach, Calif. — A joint venture between Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group has acquired City Place Long Beach, a 14-acre mixed-used property in downtown Long Beach. The open-air center offers a mix of retail and office space. The partnership secured financing to acquire City Place Long Beach at the end of 2020 and will now take over ownership of the center, which was previously home to an enclosed regional mall prior to the property’s redevelopment in 2002. All current tenants are set to remain …

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HawaiiInvestment salesNews

Realty Income Corp. Buys 21-Property Convenience Store Portfolio in Hawaii for $109.4 Million

by Julia Sanders

Hawaii — A subsidiary of Realty Income Corp. has acquired a 21-property gas station/convenience store portfolio located throughout Hawaii. Par Pacific Holdings sold the portfolio in a fee-simple sale-leaseback transaction for $109.4 million. The portfolio includes 12 properties in Oahu, two facilities on Kauai, four properties on Maui and three properties on the island of Hawaii. The transaction also included a new master lease agreement to lease back the sites on a triple net basis. D. Andrew Ragsdale, Ken Hedrick, Jerry Hopkins, Kristian Neilson and John Curtis of Newmark’s Net …

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Outback Steakhouse
Investment salesNewsTexas

Newmark Arranges $3.4 Million Sale of Outback Steakhouse Property in Austin, Texas

by Julia Sanders

Austin, Texas — Newmark has arranged the $3.4 million sale of a property net leased to Outback Steakhouse in Austin. Matt Berres and Samer Khalil of Newmark represented the undisclosed institutional seller in cooperation with Newmark’s Lispah Hogan. The buyer of the 6,176-square-foot property was a private 1031 exchange buyer.  

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Starbucks in Porterville
CaliforniaInvestment salesNews

SRS Brokers $2.9 Million Sale of a Starbucks-Occupied Property in Porterville, California

by Julia Sanders

Porterville, Calif. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.9 million sale of a single-tenant property fully occupied by Starbucks Coffee located at 421 Vandalia Ave. in Porterville. The property is an outparcel to Riverwalk Marketplace, a shopping center anchored by Lowe’s Home Improvement. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Southern California-based owner and developer. Bryan Cifranic of Commercial Retail Associates Inc. represented the buyer, a California-based investor who was in a 1031 exchange. The closing cap rate was 4.4 …

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Grocery Outlet
CaliforniaInvestment salesNews

CBRE Negotiates $5.8 Million Sale of Grocery Outlet-Occupied Retail Property in Anaheim

by Julia Sanders

Anaheim, Calif. — CBRE has brokered the sale of a 26,414-square-foot retail property leased to Grocery Outlet at 3430 W. Lincoln Ave. in Anaheim. Land Investments sold the asset to a Los Angeles-based private investor for $5.8 million. The property is situated two miles south of Knott’s Berry Farm and six miles east of Disneyland. Alan Krueger and Vanessa Haddad of CBRE represented the buyer and seller in the transaction.

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Retail Center in Cincinnati
Investment salesNewsOhio

Stan Johnson Co. Arranges $3 Million Sale of 25,600-Square-Foot Retail Center in Cincinnati

by Julia Sanders

Cincinnati — Stan Johnson Co. has arranged the $3 million sale of a 25,600-square-foot retail center located at 7074 Harrison Ave. in Cincinnati. The property was 94 percent leased at the time of sale to seven tenants. Constructed in 2006, the two-story building sits on 2.3 acres. Stan Johnson Company’s Patrick Metz represented the private California-based seller. MAGNA Properties, an Ohio-based individual investor, purchased the property in a 1031 exchange. The sale reflects a 9.1 percent cap rate.

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Mission Hills Shopping Center
FloridaInvestment salesNews

JLL Brokers Sale of Winn-Dixie-Anchored Shopping Center in Naples, Florida

by Julia Sanders

Naples, Fla. — JLL Capital Markets has brokered the sale of Mission Hills Shopping Center, a fully leased, 85,078-square-foot shopping center anchored by Winn-Dixie in Naples. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, Phillips Edison & Company Inc. Slate Grocery REIT acquired the center for an undisclosed price. Completed in 2005, Mission Hills Shopping Center was renovated in 2018 and features 17 service-oriented tenants, with 85 percent deemed “essential.” The center is situated on 18.8 acres at 7550 Mission Hills Drive, about 37 miles from …

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Mulligans-Plaza_St.-Pete-Beach-copy
FloridaInvestment salesNews

Marcus & Millichap Arranges $2.6 Million Sale of Tampa Bay Retail Property

by Katie Sloan

St. Pete Beach, Fla. — Marcus & Millichap has arranged the $2.6 million sale of Mulligan’s Plaza, an 18,750-square-foot retail property located in St. Pete Beach.  Evan Cannan and James Medefind of Marcus & Millichap marketed the property on behalf of the seller, a private investor known as Mulligans Plaza LLC. Cannan and Medefind also represented and secured the undisclosed buyer, a private investor. According to Cannan, the property was closed at full list price and at a 5 percent cap rate.  Mulligan’s Plaza is located at 9524 Blind Pass Road, …

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Corner_Shoppes_Indiana
IndianaInvestment salesNews

Hanley Investment Group Arranges $11.8 Million Sale of Two Multi-Tenant Retail Properties in Fort Wayne, Indiana

by Katie Sloan

Fort Wayne, Ind. — Hanley Investment Group has arranged the sale of two multi-tenant retail properties located in Fort Wayne for a combined total of $11.8 million. Hanley Investment Group’s Dylan Mallory and Jeff Lefko represented the seller, a private partnership between Jackson Investment Group and McCormack Development, in the transaction. Matt and Bart Jackson of Jackson Investment Group also played a brokerage role in the sales transaction. Daniel Waszak of Quantum Real Estate Advisors Inc. represented the buyer, a private investor based in Mexico City. Located at 407 W. …

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