Investment sales

AlabamaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $5.4 Million Sale of Retail Center in Sylacauga, Alabama

by Alex Tostado

Sylacuaga, Ala. — Marcus & Millichap has negotiated the $5.4 million sale of Payton Park, a 53,400-square-foot retail center in Sylacauga. Walmart shadow anchors the property, which was leased to tenants such as Burke’s Outlet, CATO, Shoe Show and Sally Beauty at the time of sale. Payton Park is located at 41301 U.S. Highway 280, 45 miles southeast of downtown Birmingham. MBD Properties, an Atlanta-based private investor, acquired the asset. The seller, Chattanooga, Tennessee-based Rise Partners, acquired Payton Park and the adjacent Walmart in September 2019 for $15.7 million. Zach Taylor …

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CaliforniaInvestment salesNewsRetailers

RBL Real Estate Sells Del Norte Marketplace in Bay Area for $22.5 Million

by Alex Tostado

El Cerrito, Calif. — RBL Real Estate has completed the disposition of Del Norte Marketplace, a pharmacy-anchored shopping center located in El Cerrito. Miami-based Jewell Capital acquired the asset, including its existing debt, for $22.5 million. Located at 11511-11565 San Pablo Ave., the 64,270-square-foot retail center recently underwent a multi-year repositioning. Current tenants include Walgreens, Ross Dress for Less, dd’s Discounts and IHOP. Eric Kathrein, Tim Kuruzar, Bryan Ley and Jake Dempsey of JLL Capital Markets represented the seller in the deal.

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CaliforniaInvestment salesNews

Progressive Real Estate Brokers $5.7 Million Sale of All Star Car Wash Location in Corona, California

by Alex Tostado

Corona, Calif. — Progressive Real Estate Partners has arranged the sale of All Star Car Wash and Castrol Oil and Lube Center, located at 465 McKinley St. in Corona. A Japan-based private investor sold the asset, which includes the business and real estate, to an Orange County, Calif.-based private investor for $5.7 million. Built in 1992, All Star Car Wash features a full-service handwash with 100-foot tunnel, a three-bay Castrol Oil and Lube Express, a smog center, an outdoor patio and lobby. The buyer plans to upgrade the property with …

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ArizonaInvestment salesNewsRetailers

Evergreen Devco Buys 163,594-Square-Foot Chandler Pavilions Retail Center in Arizona

by Alex Tostado

Chandler, Ariz. — Evergreen Devco has acquired Chandler Pavilions, a shopping center located at 800-890 N. 54th St. in Chandler. Invesco sold the asset for an undisclosed price. Built in 1998, the value-add center features 163,594 square feet of retail space. Current tenants include REI, Bed Bath & Beyond, Golf Galaxy and Cost Plus World Market. Pat Dempsey of JLL represented the seller. Phoenix Commercial Advisors will continue to serve as leasing agents for the property.

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Grocery-anchoredInvestment salesMississippiNewsRetailers

SRS Negotiates Sale of 60,835-Square-Foot Retail Property in Starkville, Mississippi

by Alex Tostado

Starkville, Miss. — SRS Real Estate Partners has negotiated the sale of a 60,835-square-foot retail property in Starkville. Vowell’s Marketplace, a regional grocery store, fully occupies the building with two years remaining on its corporate-guaranteed lease. The property was built in 1992 and is located at 118 Mississippi Highway 112, less than one mile from downtown Starkville and less than two miles west of Mississippi State University. Britt Raymond, Kyle Fant, Matthew Mousavi, Patrick Luther and Martin Smith of SRS represented the seller, a New York-based private investor. The buyer …

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ColoradoInvestment salesNewsRetailers

Marcus & Millichap Brokers $13.3 Million Sale of Durango Town Center in Colorado

by Alex Tostado

Durango, Colo. — Marcus & Millichap has arranged the sale of Durango Town Center, a retail shopping center located in Durango. A private partnership led by David Spriggs of Denver-based DMS Real Estate sold the asset to a private local investor for $13.3 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller, while Brian Hagger, also of Marcus & Millichap, represented the buyer. Phillip Gause of Marcus & Millichap Capital Corp. placed financing on behalf of the buyer. Located at 1125, 1145 and 1185 S. Camino …

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ArizonaInvestment salesNewsRetailers

SRS Negotiates $9.2 Million Sale of Wigwam Creek Shopping Center Near Phoenix

by Alex Tostado

Litchfield Park, Ariz. — SRS Real Estate Partners has arranged the sale of a large portion of Wigwam Creek Shopping Center, located at 13000 and 12958 W. Indian School Road in Litchfield Park. A Colorado-based family office sold the asset to a California-based private investor for $9.2 million. Built in 2002, Wigwam Creek Shopping Center totals 33,792 square feet. Anytime Fitness, Baskin Robbins, Subway, Fantastic Sams and Leslie’s Poolmart are among the 17 tenants that fully occupy the property. The center also includes Albertsons, McDonald’s, BBVA Bank, Circle K and …

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Investment salesNewsNorth CarolinaRetailers

TSCG Negotiates $7.1 Million Sale of Newly Built Retail Center in Metro Charlotte

by Alex Tostado

Concord, N.C. — TSCG has negotiated the $7.1 million sale of The Shops at Christenbury, an 11,350-square-foot retail property in Concord. The asset was fully leased at the time of sale to tenants including Aspen Dental, First Watch, Atrium Health and Brownlee Jewelers. A Kohl’s store, McDonald’s outparcel and an Andy’s Frozen Custard outparcel sit on the property but were not part of the sale. The seller, Thompson Thrift Development, delivered the property in 2019. The Shops at Christenbury is located at 8825 Christenbury Parkway, 15 miles north of downtown …

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CaliforniaEntertainmentInvestment salesNews

Netflix Acquires Historic Egyptian Theatre in Hollywood

by Alex Tostado

Hollywood, Calif. — Netflix has acquired the Egyptian Theatre, a historic property that was originally built in 1922 in Hollywood. Netflix and the American Cinematheque, which purchased the theater in 1996, are collaborating to redevelop and continue operations at the theater. The Egyptian Theatre will remain the home of the American Cinematheque, a nonprofit, member-supported cultural organization, with its curation team continuing to autonomously program Friday, Saturday and Sunday events and showings. Netflix will invest in the property’s renovation and will use the revitalized space for special events, screenings and …

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GeorgiaInvestment salesNewsRetailers

CIM Group Sells Retail Property in Loganville, Georgia for $15.6 Million

by Alex Tostado

Loganville, Ga. — CIM Group has sold North Logan Commons, a 175,969-square-foot retail property in Loganville, for $15.6 million. The asset was 83 percent leased at the time of sale to tenants including anchors TJ Maxx, Dick’s Sporting Goods, OfficeMax and PetSmart. Co-tenants include Five Guys Burgers & Fries, Anytime Fitness and Sally Beauty. North Logan Commons is situated at 4022 Atlanta Highway, 37 miles east of downtown Atlanta. Fred Victor of Transwestern represented the Los Angeles-based seller in the transaction. New York City-based Big V Group acquired the property.

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