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Investment sales

Grocery-anchoredInvestment salesNewsWashington

Safeway to Anchor Washington’s Black Diamond Town Center

by Abby Cox

Black Diamond, Wash. — Pepper Pike, Ohio-based Visconsi Cos. has negotiated a 58,000-square-foot lease with Safeway at Black Diamond Town Center, a mixed-use development located within the master-planned community of Ten Trails. Situated roughly 30 miles southeast of Seattle, the new Safeway will serve as the property’s anchor tenant and will also feature a full-service deli counter, bakery and pharmacy. Construction of the new grocery store is scheduled to begin later this summer, with a grand opening anticipated for the fourth quarter of 2026.

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Westport Plaza and Square
CaliforniaInvestment salesNews

CBRE Arranges $25.7 Million Sale of Shopping Center in Costa Mesa, California

by Abby Cox

Costa Mesa, Calif. — CBRE has arranged the $25.7 million sale of Westport Plaza & Square, a 39,334-square-foot shopping center located in Costa Mesa. Built in 1975 and renovated in 2002 and 2018, the center is situated on 13.7 acres. Tenants at the property — which was 97 percent leased at the time of sale — include Plums Café & Catering, Fleur De Lys, Crumbl Cookies, Common Thread, House of Yogurt, Massimo’s Pizza and LaserAway. Westport Plaza & Square has roughly 54 years remaining on its long-term ground lease. Jimmy …

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Kroger property
Investment salesMississippiNews

CrownPoint Partners Facilitates $3.6 Million Sale of Retail Property in Laurel, Mississippi

by Abby Cox

Laurel, Miss. — CrownPoint Partners has facilitated the $3.6 million sale of a retail property located at 2340 Highway 15 North in Laurel. Kroger occupies the 44,046-square-foot building, which includes a Kroger-operated fuel station. Situated across from Pine Tree Village Shopping Center, Kroger has operated at this location since 1982. Julius Swolsky and Shannon Bona of CrownPoint Partners represented the buyer, a subsidiary of Essential Growth Properties, in the transaction. Marcus & Millichap represented the seller, San Francisco-based Pacific Bay Investments, Inc. Trinity Capital Corp. secured financing for the acquisition …

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Laburnum Park
Investment salesNewsVirginia

Greysteel Facilitates $9 Million Sale of Laburnum Park Shopping Center in Richmond, Virginia

by Abby Cox

Richmond, Va. — Greysteel has facilitated the $9 million sale of Laburnum Park Shopping Center, a 61,060-square-foot shopping center located in Richmond. The property features two in-line retail buildings, a standalone retail pad and a bank pad. Gold’s Gym and DaVita Dialysis shadow anchor the center, which was 92 percent leased at the time of sale. Additional tenants include Dollar Tree, Union Bank & Trust, Cook Out, Subway, a barber shop and a dentist. Ben Wilson of Greysteel represented the seller and secured the buyer, Oklahoma-based The Criterion Fund, in …

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Devine Street Center
Investment salesNewsSouth Carolina

Marcus & Millichap Brokers $7.1 Million Sale of Retail Property in Columbia, South Carolina

by Abby Cox

Columbia, S.C. — Marcus & Millichap has arranged the $7.1 million sale of two vacant retail buildings located at 3818 Devine St. in Columbia. The 38,816-square-foot property was home to a Piggly Wiggly for more than 40 years before the grocer closed in April. Harrison Creason and Andrew Margulies of Marcus & Millichap brokered the transaction between the seller, an out-of-state owner, and the buyer, locally based-Cason Development Group, in the transaction.

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Gold Hill Commerce Park
Investment salesNewsNorth Carolina

CenterSquare Acquires 11,835-Square-Foot Shopping Center in Charlotte, North Carolina

by Abby Cox

Charlotte, N.C. — CenterSquare Investment Management has acquired Gold Hill Commerce Park, an 11,835-square-foot service retail shopping center located in Charlotte. The property was fully leased to tenants including Marco’s Pizza, UrgentVet, Select Physical Therapy and Allen Tate Realty at the time of sale. This transaction marks CenterSquare’s 20th acquisition in the Southeast.

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Eidi Properties portfolio
IllinoisIndianaInvestment salesMichiganNewsNorth CarolinaVirginia

Eidi Properties Acquires 39 Shopping Centers Totaling 650,257 Square Feet Across Six States

by Abby Cox

Toledo, Ohio — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. This transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties and more than 1.5 million square feet. The properties were all purchased from Dembs Development. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank, N.A., as well as John Skeldon and Joe Bajas of Cooperative Business Services (CBS), all based in …

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The Learning Experience in Elk Grove, California
CaliforniaInvestment salesLeasingNews

Hanley Investment Group Arranges $6.1 Million Sale of 9,990-Square-Foot Retail Property in Metro Sacramento

by Abby Cox

Elk Grove, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.1 million sale of a newly constructed, 9,990-square-foot single-tenant retail property located in the Sacramento suburb of Elk Grove. The Learning Experience, an early childhood education and childcare center, occupies the building on a 17-year corporate lease with 6 percent rent increases every five years. Completed in 2022, the Elk Grove facility is operated by the chain’s largest franchisee. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller, Armstrong Development Properties, in the transaction. …

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Starbucks Coffee in Gadsden, Alabama
AlabamaInvestment salesLeasingNews

RealSource Group Facilitates $3 Million Sale of Single-Tenant Retail Property in Gadsden, Alabama

by Abby Cox

Gadsden, Ala. — RealSource Group has facilitated the $3 million sale of a newly constructed, 2,500-square-foot single-tenant retail property located in Gadsden. Starbucks Coffee occupies the building on a 10-year, double-net-lease with 10 percent rental increases every five years. This transaction marks the first single-tenant Starbucks property sold in Alabama in 2025, according to RealSource Group. Austin Blodgett and Jonathan Schiffer of RealSource Group, in association with ParaSell Inc., represented both the Ohio-based private buyer and the Tampa, Florida-based private developer in the transaction.

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Kessler Hills Shopping Center
Investment salesNewsTexas

Partners Capital Acquires 102,020-Square-Foot Retail Center in Dallas

by Abby Cox

Dallas — Partners Capital has acquired Kessler Hills Shopping Center, a 102,020-square-foot retail center located in the Kessler Park neighborhood of Dallas. Originally built in 1989, the two-building property is situated on 10 acres. The United Education Institute and Colaw Fitness anchor the center, which was 98.6 percent leased at the time of sale. Partners Capital plans to renovate the property with improved retail frontage along Fort Worth Avenue, monument sign enhancements and upgraded tenant signage. This deal marks the fifth property to be acquired through Partners Capital’s Opportunity V …

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