Investment sales

Investment salesNewsRetailersTexas

Baker Katz Acquires 139,926-Square-Foot North Park Plaza Shopping Center in Beaumont

by Alex Tostado

Beaumont, Texas — Houston-based retail brokerage and investment firm Baker Katz has acquired North Park Plaza, a 139,926-square-foot shopping center in Beaumont. The property is situated on 14.3 acres across from Parkdale Mall, which is being redeveloped by Tennessee-based CBL Properties. Target anchors the center, which also houses tenants such as Kirkland’s, Spec’s Wine & Spirits, Skechers, Mattress Firm and Longhorn Steakhouse. Ryan West of JLL represented the seller, Weingarten Realty Investors, a Houston-based REIT, in the transaction.

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ConnecticutInvestment salesNewsRetailers

Houlihan-Parnes Brokers Sale of 31,150-Square-Foot Retail Center in West Haven, Connecticut

by Alex Tostado

West Haven, Conn. — Houlihan-Parnes Realtors LLC has brokered the $2.1 million sale of Woodlawn Shopping Center, a 31,150-square-foot retail center in West Haven, a southwestern suburb of New Haven. At the time of sale, space at the shopping center was leased to 10 retail tenants including several restaurants, a bowling alley and a beauty salon. The property also includes a 20,000-square-foot vacant parking lot across the street. Jeremiah Houlihan of Houlihan-Parnes represented the buyer, a family-owned real estate holding and managing company based in Yonkers, New York. The seller …

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CaliforniaInvestment salesMixed-useNewsRetailers

Optimus Properties Sells Two-Property Mixed-Use Portfolio in California for $11 Million

by Alex Tostado

Carmel, Calif. — Optimus Properties has completed the disposition of a two-property portfolio in downtown Carmel. Wheat LLC acquired the mixed-use portfolio for $11 million. The sale consists of the 4,345-square-foot Block 71: Lot 5 building, with ground-floor retail and office space and second-floor residential space, and Block 76: Lot 11, a 2,763-square-foot retail property. Michael Schoeder of Cushman & Wakefield’s Central Coast Operations, in collaboration with Dan Wald and Don LeBuhn of the firm’s Retail Investment Advisors Group in San Francisco, represented the seller in the deal.

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Investment salesNew JerseyNewsRetailers

First National Acquires Walmart-Anchored Shopping Center in Hamilton, New Jersey, for $19.2 Million

by Alex Tostado

Hamilton, N.J. — First National Realty Partners has acquired The Court at Hamilton, a 194,106-square-foot shopping center in the eastern Trenton suburb of Hamilton, for $19.2 million. A 150,000-square-foot Walmart Supercenter anchors the property, which was 99 percent leased at the time of sale. Other tenants include Burger King and apparel retailer Rainbow Shops. Brad Nathanson of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Abrams Realty & Development. Nathanson also procured First National as the buyer.

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Investment salesNewsPennsylvaniaRetailers

Marcus & Millichap Brokers $8 Million Sale of Retail Property in Collingdale, Pennsylvania

by Alex Tostado

Collingdale, Pa. — Marcus & Millichap has brokered the $8 million sale of a retail property in Collingdale, an eastern suburb of Philadelphia. Located at 910 Macdade Blvd., the single-tenant property is owned by Wawa, a convenience store and gas station company. Wawa sold the property to move to a different building across the street and add a gas component to its site. Derrick Dougherty and Mark Krantz of Marcus & Millichap represented the buyer, a limited liability company.

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Investment salesNewsRetailersVirginia

SRS Negotiates $4 Million Sale of Single-Tenant Retail Property in Richmond Net Leased to 7-Eleven

by Alex Tostado

Richmond, Va. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $4 million sale of a single-tenant building in Richmond net leased to 7-Eleven. The 2,956-square-foot building is situated on 1.2 acres at 5201 Chamberlayne Ave., five miles north of downtown Richmond. The seller, an undisclosed developer based in Richmond, delivered the asset in late 2019. There is a 15-year, corporate-guaranteed lease in place with 7-Eleven Inc. Frank Rogers and Michael Carter of SRS represented the seller in the transaction. Gardner King of Dominion Commercial represented the undisclosed …

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Investment salesNewsRetailersVirginia

SRS Negotiates Sale of 467,358-Square-Foot Retail Portfolio in Southeast

by Alex Tostado

Richmond, Va. — SRS’ Investment Property Group (IPG) has negotiated the sale of a four-property, 467,358-square-foot retail portfolio spanning four Southeastern states. Richmond-based Hackney Real Estate Partners acquired the portfolio, which comprises New Smyrna Beach Shopping Center in New Smyrna Beach, Florida; Marintown Plaza in North Augusta, South Carolina; Kings Fairground in Danville, Virginia; and a single-tenant building net-leased to The Home Depot in Dothan, Alabama. The sales price was not disclosed. The largest shopping center in the portfolio is Marintown Plaza, a 141,903-square-foot property that was fully leased at …

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ConnecticutInvestment salesNewsRetailers

O,R&L Commercial Brokers Sale of 17,600-Square-Foot Retail Property in Wallingford, Connecticut

by Alex Tostado

Wallingford, Conn. — O,R&L Commercial LLC has brokered the sale of a 17,600-square-foot retail property in Wallingford, a northern suburb of New Haven, for $1.6 million. The property is located at 200 Church St., on State Route 68. At the time of sale, the property was 100 percent leased to a mix of restaurants, retailers, a printing and marketing company and a recycling center. Rich Guralnick and Toby Brimberg of O,R&L Commercial represented the seller, an undisclosed private trust, in the transaction. Phil Marshall of O,R&L represented the buyer, Northern …

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Investment salesLouisianaNewsRetailers

Azad Commercial Realty Acquires 349,660-Square-Foot Retail Center in Baton Rouge

by Alex Tostado

Baton Rouge, La. — Azad Commercial Realty Services LLC has acquired Hammond Aire Plaza, a 349,660-square-foot retail center in Baton Rouge. The property was 97 percent leased at the time of sale to tenants including Burlington, Marshalls, Michaels and Stein Mart. Albertsons shadow anchors the center. Hammond Aire Plaza is located at 9616-9638 Airline Highway, seven miles east of downtown Baton Rouge. Mark Gilbert and Fain Hicks of Cushman & Wakefield represented the undisclosed seller in the transaction.

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GeorgiaGrocery-anchoredInvestment salesNewsRetailers

InvenTrust Properties Purchases Publix-Anchored Center in Metro Atlanta for $11 Million

by Alex Tostado

Sandy Springs, Ga. — InvenTrust Properties Corp. has purchased Trowbridge Crossing, a 62,600-square-foot, Publix-Anchored shopping center in Sandy Springs, for $11 million. The property was fully leased at the time of sale to tenants including the U.S. Postal Service, Great Clips, T-Mobile and Domino’s Pizza. The center was also recently upgraded to include new LED lights to improve energy efficiency and illumination for the center. Trowbridge Crossing is situated at 7531 Roswell Road, 18 miles north of downtown Atlanta. The seller was not disclosed.

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