Investment sales

Investment salesMarylandNewsRetailers

IPA Arranges Sale of 234,036-Square-Foot Shopping Center in Baltimore

by Alex Tostado

Baltimore — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Mount Clare Junction, a 234,036-square-foot retail property in Baltimore’s Mount Clare neighborhood. The property was 82 percent leased at the time of sale to tenants including Price Rite, Family Dollar and Capital One Bank. The shopping center is situated on 16 acres at 1223 W. Pratt St., two miles west of downtown Baltimore. Christopher Burnham, Dean Zang and David Crotts of IPA represented the undisclosed seller, a New York City-based investment management firm, …

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Investment salesNewsRetailersTexas

JLL Negotiates Sale of 219,379-Square-Foot Shops at Vineyard Village Near Dallas-Forth Worth Airport

by Alex Tostado

Euless, Texas — JLL has negotiated the sale of the Shops at Vineyard Village, a 219,379-square-foot retail power center in Euless, located just south of Dallas-Fort Worth International Airport. The property was 98.2 percent leased at the time of sale to tenants such as Ross Dress for Less, Bed Bath & Beyond, Marshalls, Staples, PetSmart, Party City, Dollar Tree and Rally House. Chris Gerard, Barry Brown, Ryan Shore, Aaron Johnson, Austin Ross and Ben Siegel of JLL represented the seller, BIG Shopping Centers USA Inc. in the transaction. The buyer was …

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IllinoisInvestment salesNewsRetailers

Marcus & Millichap Brokers $5 Million Sale of Retail Building in Wheaton, Illinois

by Alex Tostado

Wheaton, Ill. — Marcus & Millichap has brokered the sale of an 8,808-square-foot retail building in Wheaton for $5 million. Located at 2040 S. Naperville Road, the newly constructed property is fully leased to four tenants. Dunkin’ anchors the building and maintains a 15-year lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a developer. The team also procured the buyer, a limited liability company.

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Grocery-anchoredInvestment salesNewsNorth CarolinaRetailers

Branch Properties Sells Sprouts-Anchored Shopping Center in Greensboro, North Carolina for $38.4 Million

by Alex Tostado

Greensboro, N.C. — Branch Properties LLC has sold Westridge Square, a 182,000-square-foot, Sprouts Farmers Market-anchored retail center in Greensboro, for $38.4 million. Branch Properties has been renovating the property for four years. The renovation included moving Sprouts into a 30,524-square-foot space that Harris Teeter formerly occupied. The seller also reconfigured Kohl’s to a smaller footprint to make room for Planet Fitness. Westridge Square is situated at the intersection of Battleground Avenue and Westridge Road, five miles northwest of downtown Greensboro. Berkley Capital Advisors represented the seller in the transaction. Select-Westridge …

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Investment salesNevadaNewsRestaurants

Marcus & Millichap Brokers $3.8 Million Restaurant Property Sale in Las Vegas

by Alex Tostado

Las Vegas — Marcus & Millichap has arranged the sale of a restaurant asset located in Las Vegas. A private family trust acquired the asset from a private investor for $3.8 million. Todd Manning of Marcus & Millichap’s Las Vegas office represented the seller in the deal. IHOP occupies the 4,700-square-foot building, which is located at 9480 W. Sahara Ave., on a net-lease basis.

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IndianaInvestment salesNewsRetailers

JLL Brokers $1.7 Million Sale of Property Net Leased to Starbucks in Hammond, Indiana

by Alex Tostado

Hammond, Ind. — JLL Capital Markets has brokered the $1.7 million sale of a 2,100-square-foot property net leased to Starbucks in Hammond near Chicago. Constructed in 2019, the single-tenant building features a drive-thru. It is located at 906 Indianapolis Blvd. Alex Sharrin and Nicholas Kanich of JLL represented the seller, Luke Land LLC. A Maryland-based private buyer purchased the asset in a 1031 exchange.

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CaliforniaInvestment salesNewsRetailers

Poincare Group Acquires Bel Villaggio Retail Centers in Temecula for $26.1 Million

by Alex Tostado

Temecula, Calif. — Poincare Group has purchased Bel Villaggio I-II and Bel Villaggio III, two adjacent retail assets in Temecula. San Diego-based Pathfinder Partners sold the properties $26.1 million. Situated on more than 16.3 acres, the properties are located at 41501 and 41221-41493 Margarita Road, adjacent to Costco and Promenade Temecula. Kirk Brummer, Sean Heitzler and Philip D. Voorhees of CBRE’s National Retail Partners-West represented the seller in the deal.

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Investment salesNewsRetailersTexas

Direct Retail Partners Purchases 417,167-Square-Foot Shopping Center in Central Texas

by Alex Tostado

Harker Heights, Texas — Direct Retail Partners has purchased Market Heights Shopping Center, a 417,167-square-foot property in Harker Heights. Direct Retail Partners originally developed Market Heights when the company operated as Direct Development. Market Heights is situated on 62.2 acres at 201 E. Central Expressway, 10 miles east of Fort Hood. The property was 89 percent leased at the time of sale to tenants including Cinemark, Dick’s Sporting Goods, Barnes & Noble, Ross Dress for Less, Old Navy, Petco, Ulta Beauty and Bed Bath & Beyond. Adam Howells of JLL …

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Investment salesNewsRetailersWashington DC

Alto Real Estate Funds Acquires Shopping Center Near D.C. for $37.9 Million

by Alex Tostado

Woodbridge, Va. — Alto Real Estate Funds has acquired Prince William Square, a 232,957-square-foot shopping center in Woodbridge, for $37.9 million. The property was 89 percent leased at the time of sale to tenants including Ross Dress for Less, Mom’s Organic Grocer, dd’s Discounts, Ashley Furniture, Harbor Freight Tools and Jo-Ann Fabrics. Prince William Square is situated at 14200-14520 Smoketown Road, 27 miles southwest of downtown Washington, D.C. Morgan Stanley provided the buyer with a $25 million acquisition loan that offers a seven-year term and a fixed interest rate. Walker …

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Investment salesNewsRetailersTennessee

DRA Advisors, RCG Ventures Sells 180,960-Square-Foot Retail Center in Western Tennessee

by Alex Tostado

Jackson, Tenn. — A partnership between DRA Advisors and RCG Ventures has sold West Towne Commons, a 180,960-square-foot retail center in Jackson. The property was 97 percent leased at the time of sale to tenants including TJ Maxx, Five Below, Dollar Tree, Petco, Stein Mart and Office Max. Academy Sports + Outdoors, Kroger and Target shadow-anchor the site, which is situated at 41 Stonebrook Place, seven miles north of downtown Jackson. Jim Hamilton, Brad Buchanan and Mike Allison of JLL represented the seller in the transaction. An affiliate of Yale …

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