Thornton, Colo. — Faris Lee Investments has brokered the sale of Thornton Town Center, a 265,181-square-foot retail center located in Thornton, a suburb north of Denver. A Southern California-based private investor sold the property to a Southern California-based value-add investor for $14.4 million. Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal.
Lebanon, Tenn. — A joint venture between PEBB Enterprises and The Sembler Co. has sold a property located within Westview Plaza in Lebanon for $5.6 million. Tenants at the 22,000-square-foot portion of the retail center include China Wok, Mysa Nails & Spa, T-Mobile and Petco. Berkeley Capital Advisors represented the joint venture in the sale. Compass Real Estate represented the buyers, Westview Investment and AMB Investment. Other tenants at Westview Plaza, which comprises 18 acres, include Subway, GNC, Great Clips, Bank of America and Kroger.
Cincinnati — Cincinnati-based The Kroger Co. and Boise, Idaho-based Albertsons Cos. Inc. have announced plans to sell an additional 166 grocery stores to C&S Wholesale Grocers in a divestiture package. This marks an amendment to an existing agreement with the buyer, which will now acquire a total 579 stores in a $2.9 billion deal. The original divestiture package was announced in September of last year, in connection with a proposed merger between Kroger and Albertsons. In February, the Federal Trade Commission (FTC) sued to block Kroger’s $24.6 billion acquisition of Albertsons …
Miami — ASG Equities has sold a 4,500-square-foot retail building located Miami’s Design District for $14 million. Dacra acquired the property, which was fully leased to luxury brands Ksubi and Orlean at the time of sale. This marks the final transaction for a three-property portfolio sold by ASG in recent months. The company is actively developing a 500,000-square-foot mixed-use development nearby, Parterre 42, with co-developer Helm Equities.
Perry, Fla. — Timber Development Corp. has acquired Perry Village Plaza, a 12,000-square-foot shopping center located in Perry. An undisclosed seller sold the property for $2.6 million. Tenants at the center include T-Mobile, Verizon, Cricket Wireless, H&R Block and Smoke Shop.
Oxnard, Calif. — PSRS has arranged $54 million in financing for the acquisition of Esplanade Shopping Center, a 357,000-square-foot shopping center in Oxnard. Kostas Kavayiotidis, Mike Davis and Matthew Farzinpour of PSRS secured the seven-year loan, including four years of interest-only payments, on behalf of the buyer through a life insurance company. Walmart, The Home Depot, T.J. Maxx, Nordstrom Rack, Bob’s Discount Furniture, Dick’s Sporting Goods, In-N-Out Burger, Chipotle Mexican Grill and BJ’s Restaurant anchor the property.
Kenosha, Wash. — Legacy Realty Group Advisors has brokered the $27.6 million sale of Plaza 50, a 199,217-square-foot retail center located in Kenosha. Pick ‘N Save, Burlington Coat Factory, Marshalls and Ross Dress for Less anchor the property, which was 99 percent occupied at the time of sale. Jacob Baruch, Daniel Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.
Brentwood, Tenn. — Greenberg Gibbons has acquired Cool Springs Pointe, a 198,103-square-foot retail center located in Brentwood. The property was purchased through the Greenberg Gibbons Real Estate Income Fund for $34.5 million. Tenants at the center, which was fully leased at the time of sale, include Best Buy, Ross Dress for Less, Restoration Hardware Outlet, Golf Galaxy, Old Navy and Party City.
Collierville, Tenn. — JLL Capital Markets has brokered the $12 million sale of Collierville Crossing, a 94,331-square-foot shopping center located in Collierville, roughly 30 miles outside Memphis. Academy Sports + Outdoors anchors the property, which was built in 2004. Other tenants at the center include La Hacienda, Sakura Japanese Restaurant, America’s Best Contacts and Eyeglasses, Sports Clips and Direct General Insurance. Desco Group and Affinius Capital sold the property to an entity doing business as RCG-Collierville VII LLC. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller in …
Rancho Mirage, Calif. — Albanese Cormier has acquired Rancho Las Palmas, a 162,380-square-foot retail center located in Rancho Mirage. Amazon Fresh, In-N-Out Burger, CVS/pharmacy, Hobby Lobby, Starbucks Coffee and Wells Fargo anchor the property, which was originally built in 1980. The center was extensively renovated in 2016 and 2022. Bryan Ley of JLL Capital Markets represented the undisclosed seller in the transaction.
