Investment sales

Investment salesNewsRetailersVirginia

Branch Properties Sells Walmart-Anchored Shopping Center in Hampton Roads Region

by Alex Tostado

Hampton, Va. — Branch Properties has sold Mercury Plaza, a 98,066-square-foot shopping center in Hampton. Walmart Neighborhood Market and Marshalls anchor the center, which is situated at the intersection of West Mercury Boulevard and Power Plant Parkway, 21 miles north of downtown Norfolk in Virginia’s Hampton Roads region. Branch acquired the property in 2018 for $25 million and invested $2.6 million to build a new building on the site. The Atlanta-based seller also sold four outparcels in 2019 for $9.7 million. Fain Hicks, Margaret Jones, John Owendoff and Lane Breedlove …

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Investment salesNew YorkNewsRetailers

Thor Equities Group Sells Retail Building in Manhattan for $40 Million

by Alex Tostado

New York City — Locally based investment firm Thor Equities Group has sold a 17,600-square-foot retail building located at 164 Fifth Ave. in Manhattan for $40 million. The six-story property, which is located between 21st and 22nd streets in the Flatiron District, was fully leased at the time of sale to tenants such as Alo Yoga and restaurant Sutra. The buyer was not disclosed.

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CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Arranges $17 Million Sale of Shopping Center in Southern California

by Alex Tostado

Huntington Beach, Calif. — Hanley Investment Group has arranged the sale of Village Plaza at Huntington Harbor, a 20,328-square-foot shopping center. The sales price was not disclosed, but according to industry sources, the sales price was $17 million. The property was 91 percent leased at the time of sale to tenants including Harbor Barber, Secret Spot Restaurant, La Bodega Bottle Shop, Super Mex, Stoney’s Pizza, Sunset Vapor, Riip Beer Co. and Tsunami Sushi. The center is situated at 17196-17236 Pacific Coast Highway, two blocks from the beach and 31 miles …

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CaliforniaDevelopmentInvestment salesNewsRetailers

Beacon Realty, Carolina Capital Acquire Open-Air Retail Center in Southern California

by Alex Tostado

La Quinta, Calif. — A joint venture between Beacon Realty Advisors and Carolina Capital Real Estate Partners has acquired Jefferson Square, a partially built, open-air shopping center in La Quinta. The property’s infrastructure has been completed but only half of the land has been fully developed, according to Beacon Realty. A CVS/pharmacy anchors the center. The buyers plan to lease the vacant 14,000 square feet to a grocer, medical tenant or home improvement retailer. Regency Centers sold the property, which spans 10 acres, for an undisclosed price. A timeline for …

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Investment salesMarylandNewsRetailers

JCR Acquires Two Shopping Centers in Maryland for $23.8 Million

by Alex Tostado

Rockville and Bel Air, Md. — The JCR Cos. has acquired two shopping centers in Maryland totaling $23.8 million. The first property is Woodley Gardens Shopping Center in Rockville. The asset is situated at 1101-1125 Nelson St., 17 miles north of downtown Washington, D.C. Washington, D.C.-based JCR acquired the 22,797-square-foot property for $4.5 million. It was fully leased at the time of the sale to tenants including Hard Times Café, Essex Bank, Slice of Rockville, Carmen’s Ice Cream and Shanghai Taste. The second property is Bel Air Town Center, which …

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Investment salesNew YorkNewsRetailers

JLL Negotiates $14.1 Million Sale of Retail Building in Brooklyn’s Bay Ridge Area

by Alex Tostado

New York City — JLL has negotiated the $14.1 million sale of a 37,412-square-foot retail building located at 531 86th St. in the Bay Ridge neighborhood of Brooklyn. Stephen Palmese, Ethan Stanton, Michael Mazzara, Winfield Clifford and Brendan Maddigan of JLL represented the seller, Developer’s Realty Corp., in the transaction. A&H Acquisitions Corp. purchased the building, which is leased to Modell’s Sporting Goods.

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CaliforniaInvestment salesNewsRetailers

Progressive Real Estate Partners Brokers $6.2 Million Sale of Shell Gas Station, Circle K Property in Southern California

by Alex Tostado

Bloomington, Calif. — Progressive Real Estate Partners has arranged the sale of a retail property located at 2128 S. Riverside Ave. in Bloomington. Shell Gas Station and Circle K Convenience Store occupy the property, which was built in 2001. A Corona, California-based private investor sold the property to a Riverside County, California-based private investor for $6.2 million. The acquisition included both the business and the real estate. The buyer operates multiple ARCO gas stations throughout California. The asset features a Shell Gas Station offering eight dispensers with 20 fueling positions …

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ArizonaInvestment salesNewsRetailers

B2 Holdings Acquires Target-Occupied Retail Property in Tempe for $14.4 Million

by Alex Tostado

Tempe, Ariz. — San Diego-based B2 Holdings has purchased a 10-acre property located at 1800 and 1818 E. Baseline Road in Tempe. A Florida-based seller sold the asset for $14.4 million. The property is located less than half-a-mile from US Route 60 and in proximity to Dobson Ranch and Arizona State University. At the time of sale, Target and US Bank leased portions of the site. Joseph Compagno of CBRE’s Net Lease Property Group in Phoenix represented the buyer and seller in the transaction.

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Investment salesNewsRetailersTexas

Henry S. Miller Arranges Sale of 24,833-Square-Foot Retail Building in Fort Worth, Texas

by Alex Tostado

Fort Worth, Texas — Henry S. Miller Brokerage has arranged the sale of a 24,833-square-foot retail building located at 2551 Ephriham Ave. in northwest Fort Worth. Shawn Ackerman of Henry S. Miller represented the seller, Fallas Borrower IV LLC, in the transaction. Troy Morgan of Structure Commercial represented the buyer, Savcorp Ltd., doing business as Savers Cost Plus Supermarket.

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IndianaInvestment salesNewsRetailers

Upland Brokers $1.2 Million Sale of PPG Paints-Occupied Property in Fort Wayne, Indiana

by Alex Tostado

Fort Wayne, Ind. — Upland Real Estate Group Inc. has brokered the sale of a 6,375-square-foot retail property occupied by PPG Paints in Fort Wayne for $1.2 million. PPG Paints, which supplies paints, coating and specialty materials, has approximately four years remaining on its lease. The company has operated at the location for more than 20 years. Keith Sturm, Amanda Leathers and Deb Vannelli of Upland represented the seller in the transaction. Buyer and seller information was undisclosed.

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