Chicago — Mid-America Real Estate Corp. has brokered the sale of North & Clybourn, a 68,121-square-foot retail center in Chicago’s Lincoln Park neighborhood. Crate & Barrel and The Container Store anchor the property. Additional tenants at the center include Potbelly, LensCrafters and Sweetgreen. Joe Girardi and Stan Nitzberg of Mid-America arranged the sale on behalf of the private seller. Hines U.S. Property Partners acquired the property for an undisclosed price.
Belmont, N.C. —Foundry Commercial has purchased Shopton Square, a 24,250-square-foot shopping center in Belmont, a southern suburb of Charlotte. The property was fully leased to 13 tenants at the time of sale. Shopton Square was originally developed and leased by the real estate arm of grocer Food Lion. The acquisition of the center marks the first for Foundry Commercial’s Retail Investment Platform, which was launched last year and prioritizes necessity-based retail properties.
Homewood, Ill. — Marcus & Millichap has arranged the sale of an 11,772-square-foot retail building located in the Chicago suburb of Homewood. U.S. Bank anchors the property. Austin Weisenbeck, Sean Sharko and Adrian Mendoza of Marcus & Millichap represented the seller, a limited liability company. The trio also secured and represented the all-cash buyer, a limited liability company.
Coos Bay, Ore. — AlpHubbard LLC has acquired a restaurant building located in Coos Bay for $1.9 million. Burger King occupies the 2,824-square-foot freestanding drive-thru property, which was constructed in 1992. Todd VanDomelen and Mike Brown of Norris & Steven Inc. represented the buyer, and Clayton Brown of Marcus & Millichap represented the seller, Ternik LLC.
Desert Hot Springs, Calif. — Progressive Real Estate Partners has arranged the sale of a retail property located in Desert Hot Springs, in the Coachella Valley. Totaling 33,004 square feet, the property features a multi-tenant building and two pad buildings, one of which is occupied by Chase Bank. A private investor acquired the property for $6.1 million in an all-cash transaction. Greg Bedell of Progressive Real Estate Partners represented the seller, and Heather Sharp of Progressive Real Estate Partners procured the buyer.
Scottsdale, Ariz. — Ziff Real Estate Partners (ZRP) has acquired Mercado at Scottsdale Ranch, a 118,751-square-foot retail center located in the Phoenix suburb of Scottsdale. Whitestone REIT sold the property for $26.5 million. Tenants at the center, which is situated on 11 acres, include Planet Fitness and Walgreens. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the transaction, and Christian Chamblee and Kayla Meier represented ZRP on an internal basis. This marks ZRP’s first purchase in Arizona.
Wathena, Kan. — The Boulder Group has arranged the $1.8 million sale of a 10,566-square-foot single-tenant property in Wathena, a city in northeast Kansas. Dollar General occupies the building on a net-lease basis. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Dollar General developer.
Flemington, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. HomeGoods and Ulta Beauty anchor the property, which was leased to 26 tenants at the time of sale. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction.
Placentia, Calif. — NewMark Merrill Cos. has acquired a 28,000-square-foot single-tenant property located within Placentia Town Center, a 142,666-square-foot shopping center in Placentia. CVS/pharmacy occupies the building. NewMark Merrill now owns the entirety of the shopping center. Other tenants at the center include Marshalls, Ross Dress for Less, Massage Envy, Philly’s Best, KC Nails, Avalon Bagels, Courtesy Cleaners, Mr. D’s Diner & Bar, Uptown Cheapskate and Beauty Avenue. Greg Giacopuzzi of NewMark Merrill, with Tony Veiller of Pegasus Investments, represented NewMark Merrill in the transaction.
Toledo, Ohio — SRS Real Estate Partners has arranged the $11.9 million sale of Airport Square, a 187,252-square-foot shopping center located in Toledo. Situated on approximately 23 acres, the property was 99 percent occupied at the time of sale. Tenants at the center include Urban Air Adventure Park, Discount Fashion Warehouse, American Freight and DaVita Healthcare. Urban Air recently signed a 10-year lease at the center. Jack Cornell, Matthew Mousavi and Patrick Luther of SRS, along with Mac Lehrer of Hoty Enterprises, represented the seller, Oklahoma City-based Frayer Properties. SRS also …
