Batavia. Ill. — JLL Capital Markets has brokered the $2.5 million sale of a Raising Cane’s Chicken Fingers ground lease in Batavia within suburban Chicago. The 3,343-square-foot, single-tenant retail building sits on one acre at 1998 McKee St. Construction of the building was completed this year. Alex Sharrin and Alex Geanakos of JLL represented the seller, Kensington Development Partners. A family trust was the buyer. Raising Cane’s has more than 520 restaurants in 28 states.
Merrionette Park, Ill. — Newport Capital Partners has purchased Stonebrook Plaza in Merrionette Park, located about 17 miles southwest of Chicago. The purchase price was undisclosed. Stonebrook Plaza is a 95,825-square-foot shopping center anchored by grocer Jewel-Osco. It is currently 96 percent leased. Other tenants include Blink Fitness and Pet Supplies Plus as well as eateries and personal care tenants. Jewel-Osco has operated at the property since 1985. Jacksonville, Fla.-based Regency Centers was the seller. Chicago-based Newport specializes in the acquisition and management of neighborhood shopping centers throughout major metro …
Avon, Ind. — Thompson Thrift Retail Group (TTRG), a wholly owned subsidiary of Indianapolis-based Thompson Thrift, has sold Rockville Pointe in Avon near Indianapolis for $3 million. The 10,500-square-foot retail center is fully leased to Tropical Smoothie Café, The Good Feet Store, Spectrum, Papa Murphy’s and Family Allergy & Asthma. TTRG has owned the property since completing construction in 2009. Dylan Mallory of Hanley Investment Group Real Estate Advisors represented TTRG in the sale. C.F. Rockville LLC, a private investor from Bloomington, Indiana, purchased the asset.
Mansfield, Mass. — Newmark has arranged the $25 million sale of a 74,383-square-foot shopping center located at 377 Chauncy St. in Mansfield, a southern suburb of Boston. Grocer Stop & Shop anchors the property, which is situated on nine acres along Route 140. Robert Griffin, Geoffrey Millerd, Paul Penman and Mat Adler of Newmark represented the undisclosed seller and procured the buyer, Bailard Real Estate Fund, in the transaction.
Monticello, Minn. — Upland Real Estate Group has brokered the $20 million sale of a 188,000-square-foot retail property occupied by Fleet Farm in Monticello, about 40 miles northwest of Minneapolis. The single-tenant, net-leased building is situated near I-94. Fleet Farm has 19 years remaining on its lease. The retailer operates 45 stores in five states and sells a variety of sports and outdoor equipment, appliances, automotive goods, apparel, hardware, tools and farm supplies. Keith Sturm, Deborah Vannelli, Amanda Leathers and Ed Engler of Upland brokered the sale. Buyer and seller …
York, Pa. — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of York Marketplace, a 304,974-square-foot retail power center in York. A 125,353-square-foot Lowe’s Home Improvement store anchors the property along with a 74,541-square-foot Giant Food grocery store and a 12,500-square-foot Premium Fine Wine & Good Spirits. Brad Nathanson of IPA represented the undisclosed seller and procured the buyer, Triple BAR Group, in the transaction. Michael Helpern and Chris Marks of IPA Capital Markets arranged acquisition financing on behalf of the buyer.
Dothan, Ala. — Chase Properties has acquired Shops on the Circle, a 183,000-square-foot retail property in Dothan. TJ Maxx, Big Lots, PetSmart, Five Below and Old Navy anchor the center. The seller and sales price were not disclosed. Shops on the Circle is located at 3500 Ross Clark Circle, three miles northwest of downtown Dothan. Beachwood, Ohio-based Chase Properties says that despite COVID-19, the sale closed on schedule.
Lemont, Ill. — First National Realty Partners has acquired Lemont Village Square, a 59,939-square-foot shopping center in Lemont, located about 27 miles southwest of Chicago. The purchase price and seller were undisclosed. The Aldi-anchored property sits at the corner of 127th and State streets. It is 96 percent leased. Other tenants include Starbucks, The Learning Experience, Jimmy Johns, AT&T and Verizon Wireless.
Richmond, Va. — A partnership between Auerbach Funds, Elevation Real Estate Group and Beechmont Acquisitions has acquired Parc Place, an 82,968-square-foot shopping center in Richmond. The sales price was $10.8 million, a discount to its 2016 sales price of $25 million. This marks the second acquisition since Auerbach Funds announced its first close for Auerbach Opportunity Fund III in mid-October. The fund has a target size of $100 million. Parc Place is located at 11736 W. Broad St. in the city’s Short Pump district. The shopping center’s tenant roster includes …
Milford, Conn. — CBRE has negotiated the $4.7 million sale of a 4,596-square-foot retail property in the coastal Connecticut city of Milford. The freestanding property is situated on 2.5 acres at 1651 Boston Post Road and houses a bank branch for JPMorgan Chase. Charles Berger, Elli Klapper and Samuel Bernhaut of CBRE represented the seller, Klein Automotive Parts, in the transaction. The buyer was an undisclosed national REIT.
