Investment sales

Cushman & Wakefield Brokers $22.6 Million Sale of Grocery-Anchored Shopping Center in Denville, New Jersey

by Alex Tostado April 7, 2020

Denville, N.J. — Cushman & Wakefield has brokered the $22.6 million sale of Denville Commons, a 73,000-square-foot, grocery-anchored shopping center in Denville, a northwestern suburb of New York City. Located at 3130 Route 10, the property is anchored by Corrado’s Market and was 90 percent leased at the time of the sale to 16 tenants including Goldfish Swim School and Orangetheory Fitness. Andrew Merin, David Bernhaut and Gary Gabriel led a Cushman & Wakefield team that represented the seller, Denville Commons Associates LP. The team also procured the buyer, Longpoint …

April 7, 2020

Investment sales Leasing News Retailers South Carolina

Colliers Arranges $13.9 Million Sale-Leaseback of Walmart in Sumter, South Carolina

by Alex Tostado April 7, 2020

Sumter, S.C. — Colliers International has arranged the $13.9 million sale-leaseback of a triple-net leased, Walmart Neighborhood Market-occupied property in Sumter. Hutton Development developed and sold the 41,990-square-foot building, which is situated at 343 Pinewood Road, three miles south of downtown Sumter and 40 miles east of downtown Columbia. Walmart signed a new 13-year lease with the new owner, an undisclosed private investor based in Florida completing a 1031 exchange. Jereme Snyder of Colliers represented the seller in the transaction.

April 7, 2020

California Investment sales News Retailers

SunCoast Properties Sells Ground Lease of Chase Bank-Occupied Asset in Anaheim for $5.1 Million

by Alex Tostado April 2, 2020

Anaheim, Calif. — SunCoast Properties has completed the disposition of the ground lease of a newly constructed, freestanding retail building located at 545 N. Euclid St. in Anaheim. A Los Angeles-based private investor acquired the asset for $5.1 million. Chase Bank occupies the 3,988-square-foot, single-tenant property with a corporate-guaranteed, triple-net, 20-year lease. SunCoast developed the property, which opened earlier this year. Pat Kent, Patrick Luther, Matthew Mousavi and Parker Walter of SRS Real Estate Partners’ National Net Lease Group represented the seller, while Bill Asher and Jeff Lefko of Hanley …

April 2, 2020

Investment sales News Retailers South Carolina

TSCG Negotiates $17.1 Million Sale of Retail Center in North Charleston

by Alex Tostado April 1, 2020

North Charleston, S.C. — TSCG has negotiated the $17.1 million sale of The Shoppes at Centre Pointe, a 139,688-square-foot retail center in North Charleston. Ashley Home Furniture, Dollar Tree and Staples anchor the center, which was 98 percent leased at the time of sale. Other tenants include Dunkin’, Sally Beauty, GameStop and Cici’s Pizza. The property is situated at 4950 Centre Pointe Drive, 11 miles north of downtown Charleston. Anthony Blanco and Jeff Yurfest of TSCG represented the seller, an undisclosed investor based in Atlanta, in the transaction. The buyer …

April 1, 2020

Investment sales News Retailers Texas

Wellington Realty Brokers Sale of 54,250-Square-Foot Ridge Road Towne Center in Rockwall, Texas

by Alex Tostado April 1, 2020

Rockwall, Texas — Wellington Realty has brokered the sale of Ridge Road Towne Center, a 54,250-square-foot neighborhood shopping center in Rockwall, a northeastern suburb of Dallas. The property was built in 2005 and was 74 percent leased at the time of sale. David Shaffer, Caleb Jones, Curtis Sung, Tammy Shaffer and Brandon Johnson of Wellington Realty represented the seller in the transaction. Additional terms of sale were not disclosed.

April 1, 2020

Investment sales News Pennsylvania Retailers

Marcus & Millichap Arranges $11.9 Million Sale of Shops at Red Lion Retail Center in Philadelphia

by Alex Tostado March 31, 2020

Philadelphia — Marcus & Millichap has arranged the $11.9 million sale of Shops at Red Lion, a 24,688-square foot retail property located in Philadelphia. Located at 10000-90 Roosevelt Blvd., the property was 100 percent leased at the time of sale to tenants such as Starbucks, Verizon and Dunkin’. Derrick Dougherty, Mark Krantz and Scott Woodard of Marcus & Millichap represented the seller, a limited liability company affiliated with Abrams Realty Development, in the transaction. The team also procured the buyer, a limited liability company controlled by David Adam Realty.

March 31, 2020

California Content Partners Faris Lee Investments Investment sales News Restaurants

Faris Lee Negotiates $9.5 Million Sale of Property Within Restaurant Row in Southern California

by Alex Tostado March 31, 2020

Victorville, Calif. — Faris Lee Investments has negotiated the $9.5 million sale of a six-tenant, 11,300-square-foot building within Restaurant Row in Victorville. The property is fully leased to leased to Which Wich, Starbucks, Nekter Juice Bar, Pieology, Ono Hawaiian BBQ and Cafe Rio. The asset, which was built in 2017, is situated at 11604 Amargosa Road, seven miles south of downtown Victorville. Restaurant Row is a mile-long stretch of Amargosa Road that features 19 eateries, sit-down options and quick-service restaurants. Jeff Conover and Chris DePierro of Faris Lee represented the …

March 31, 2020

California Investment sales News Restaurants Retailers

Hanley Investment Group Arranges $3.1 Million Sale of Starbucks-Occupied Asset in Twentynine Palms

by Alex Tostado March 31, 2020

Twentynine Palms, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly built retail property located at 73690 Twentynine Palms Highway in Twentynine Palms. Fountainhead Development sold the asset to a Los Angeles-based private investor for $3.1 million, or $1,722 per square foot. Starbucks Coffee occupies the1,800-square-foot drive-thru property, which was built in this year. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Taesoo Eo and Shirley Kim of RE/MAX Commercial’s Los Angeles office represented the buyer in the deal.

March 31, 2020

California Investment sales News Retailers

Kidder Mathews Arranges $20.5 Million Sale of High-Street Retail Property in West Hollywood

by Alex Tostado March 30, 2020

West Hollywood, Calif. — Kidder Mathews has facilitated the sale of a high-street retail property located at 8532 Melrose Ave. in West Hollywood. Blatteis & Schnur, a Century City, California-based real estate investor, acquired the property from a New York City-based investor for $20.5 million. Situated in a top-tier commercial corridor of Los Angeles, the building features 4,946 square feet of retail space. The current tenant is Lululemon Athletica. Imperial Capital represented the buyer, while Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the …

March 30, 2020

Illinois Investment sales News Retailers

Valore Ventures Sells 7,784-Square-Foot Retail Center in Metro Chicago

by Alex Tostado March 30, 2020

Evergreen Park, Ill. — Valore Ventures has sold Evergreen Park Towne Center in Evergreen Park, about 15 miles south of Chicago. The sales price was undisclosed. The 7,784-square-foot retail property is located at 8730 S. Kedzie Ave. It is fully leased to tenants such as Boost Mobile and Edible Arrangements. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented Valore in the sale. The buyer was undisclosed.

March 30, 2020

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