Investment sales

CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Hanley Investment Group Arranges $10.4 Million Sale of Sprouts-Occupied Retail Asset in Inland Empire

by Alex Tostado

Fontana, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail building located within the recently completed Highland Village Shopping Center in Fontana. Woodlands Hills, California-based Adler Realty Investments sold the asset to a private investor for $10.4 million. Sprouts Farmers Market occupies the 30,000-square-foot building, which anchors Highland Village Shopping Center. Additional tenants at the center, which were not included in the acquisition, are BurgerIM, Jack in the Box, Raising Cane’s Chicken Fingers, Jersey Mike’s Subs, Café Rio Mexican Grill, Oggi’s, Mountain View …

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Investment salesMallsNewsTexas

Partnership Acquires Two Malls in Texas Totaling 1.2 Million Square Feet

by Alex Tostado

San Antonio and Amarillo, Texas — A partnership between Mason Asset Management, Namdar Realty Group and CH Capital Group has acquired South Park Mall in San Antonio and Westgate Mall in Amarillo. South Park Mall spans 663,978 square feet across 48.5 acres. The mall was originally built in 1968 and has been renovated several times, most recently in 2018. The asset was 95 percent leased at the time of sale to tenants including anchors JC Penney, Dick’s Sporting Goods, Beall’s, Old Navy, Ulta Beauty and The Vitamin Shoppe. Westgate Mall …

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Investment salesNew JerseyNewsRetailers

TEI Acquires Hamilton Commons Retail Center in Mays Landing, New Jersey for $60 Million

by Alex Tostado

Mays Landing, N.J. — Time Equities Inc. (TEI) has acquired Hamilton Commons, a 403,050-square-foot retail center in Mays Landing, located approximately 50 miles southeast of Philadelphia. The sales price was $60 million. Located at 190 Hamilton Commons Drive, the property was 93 percent leased at the time of sale to 34 tenants, including Regal Cinemas, Hobby Lobby, Marshalls and Big Lots. Ami Ziff, Jonathan Kim and Grant Scott represented TEI on an internal basis. Chris Munley, Jim Galbally and James Graf of JLL represented the seller, Ohio-based national REIT Retail …

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Investment salesNewsRetailersSouth Carolina

Marcus & Millichap Arranges $11.2 Million Sale of Retail Property in Camden, South Carolina

by Alex Tostado

Camden, S.C. — Marcus & Millichap has arranged the $11.2 million sale of River Oaks Shopping Center, a 146,790-square-foot retail property in Camden. The property was leased to eight tenants at the time of sale, including Hobby Lobby, Marshall’s, Big Lots and Five Below. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented both the buyer, Center Acquisition Corp., and the seller, BMS Camden Associates LLC, in the transaction. The property was a former K-Mart box that was redeveloped in fourth-quarter 2019. The asset was 99 percent leased …

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GeorgiaInvestment salesNewsRetailers

Consolidated-Tomoka Purchases Perimeter Place Retail Center in Atlanta for $75.4 Million

by Alex Tostado

Atlanta — Consolidated-Tomoka Land Co. has purchased Perimeter Place, a 269,000-square-foot retail center in Atlanta’s Central Perimeter submarket, for $75.4 million. The property was 80 percent leased at the time of sale to 42 tenants including Ross Dress for Less, Michaels, Fleming’s Prime Steakhouse & Wine Bar, Chipotle, Panera, Outback Steakhouse and Carrabba’s. SuperTarget shadow anchors Perimeter Place, which is located on a 24-acre site less than a mile from Perimeter Mall and 16 miles north of downtown Atlanta. CBRE will manage the property and JLL will lead leasing efforts …

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IllinoisInvestment salesNewsRetailers

Mid-America Negotiates Sale of 177,165-Square-Foot Shopping Center in Oak Brook, Illinois

by Alex Tostado

Oak Brook, Ill. — Mid-America Real Estate Corp. has negotiated the sale of The Shops at Oak Brook Place in suburban Chicago for an undisclosed price. An institutional buyer purchased the 177,165-square-foot shopping center, which is located at the southeast corner of 22nd Street and Midwest Road. Anchor tenants include Nordstrom Rack, T.J. Maxx, Ulta, Old Navy and Nike. Rick Drogosz and Joe Girardi of Mid-America represented the seller, a Canadian real estate investment trust.

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CaliforniaInvestment salesNewsRetailers

SRS Real Estate Partners Negotiates $32 Million Sale of Santa Fe Springs Promenade in California

by Alex Tostado

Santa Fe Springs, Calif. — SRS Real Estate Partners has arranged the sale of Santa Fe Springs Promenade, a shopping center in Santa Fe Springs. An Orange County, Calif.-based private partnership sold the property to a Los Angeles-based private investor for $32 million. Situated on 8.2 acres at 11452-11568 Telegraph Road, the 111,925-square-foot shopping center was built in phases from 1953 to 1986. At the time of sale, Santa Fe Springs Promenade was 80 percent occupied by a variety of tenants, including 99 Cents Only, AutoZone, Bank of America, Starbucks …

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CaliforniaInvestment salesNewsRetailers

JLL Brokers $12.1 Million Sale of Breakwater Town Center Retail Property Near San Diego

by Alex Tostado

Imperial Beach, Calif. — JLL Capital Markets has brokered the sale of Breakwater Town Center, a four-building retail property located at 781-881 Palm Ave. in Imperial Beach. An undisclosed buyer acquired the asset for $12.1 million. Constructed in 2018, Breakwater Town Center consists of 31,934 square feet of retail space spread across four freestanding outparcel pads. At the time of sale, the property was fully occupied by Starbucks Coffee, Chipotle, Five Guys Burgers and Fries, Baskin Robbins, Jersey Mike’s Subs, Great Clips and Grocery Outlet. Gleb Lvovich and Daniel Tyner …

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Investment salesNewsRetailersSouth Carolina

Continental Realty Purchases Open-Air Shopping Center Near Charleston for $147 Million

by Alex Tostado

Mount Pleasant, S.C. — Continental Realty Corp. has purchased Mount Pleasant Towne Centre, a 510,000-square-foot, open-air shopping center in Mt. Pleasant, for $147 million. Anchor tenants at the property include Belk, Regal Cinemas, Bed Bath & Beyond, Barnes & Noble, Arhaus Furniture and Old Navy. Other tenants include Peloton, lululemon athletica, Bluemercury, Athleta, Ulta Beauty, Southern Tide, Francesca’s, Ann Taylor Loft, Bath & Body Works, Savi Cucina, Copper Penny, Palmetto Moon, Lizard Thicket, Reed’s Jewelers and Hustle Smoothie Bar. The center was 96 percent leased to nearly 70 tenants at …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

SRS Brokers $8.3 Million Sale of Publix-Anchored Shopping Center in Southwest Florida

by Alex Tostado

North Fort Myers, Fla. — SRS Investment Property Group has brokered the $8.3 million sale of Publix at Eagle Landing, a 57,840-square-foot, Publix-anchored shopping center in North Fort Myers. The center was built in 2012 and was 88 percent leased at the time of sale to tenants including Shoreline Vapor, China King, Boutique Nails & Spa and The Fat Apple. The property is situated at 6694-6704 Bayshore Road, seven miles north of downtown Fort Myers. Steve Miskew, Kyle Stonis and Pierce Mayson of SRS represented the seller, VAL Eagle Landing …

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