Amarillo, Texas — JLL has negotiated a 63,231-square-foot retail property in Amarillo. The property sits on 5.1 acres and formerly housed a grocer. Michael Meaden of JLL represented the sellers, MAL Enterprises Inc. and Super Market Developers Inc., in the transaction. Zach Ballenger of CBRE represented the buyer, STORE Capital.
Dacula, Ga. — Franklin Street has arranged the $7.7 million sale of Shops at Hamilton Mill, a 43,458-square-foot retail center in Dacula. The property was 84 percent leased at the time of sale to tenants including Wild Wing Café, J. Christopher’s, Iron Wok, Nails by Tori and Karate Atlanta Hamilton Mill. The center is located at 3523 Braselton Highway, 40 miles northeast of downtown Atlanta. Bryan Belk and John Tennant of Franklin Street represented the seller, Fairway Investments, in the transaction. The buyer was M&P Properties.
Newburgh, Ind. — Cohen Financial, a division of SunTrust Bank, has arranged a $10.7 million loan for the acquisition of Bell Oaks in Newburgh, a suburb of Evansville. Schnucks grocery store anchors the 95,000-square-foot shopping center. Dan Rosenberg and Matt Terpstra of Cohen arranged the 10-year, fixed-rate loan with Goldman Sachs. Midland Atlantic Properties was the borrower.
Inner Grove Heights, Minn. — The Cooper Commercial Investment Group has brokered the $2.1 million sale of Inner Grove Market II, an 8,955-square-foot retail property in Inner Grove Heights, about 20 miles southeast of Minneapolis. Caribou Coffee anchors the building, constructed in 2005. Bob Havasi and Dan Cooper of Cooper Group represented the seller, an East Coast-based private investment group. A North Dakota-based private investment group purchased the asset at a cap rate of 7.28 percent.
Burlington, N.C. — The Morgan Cos. has purchased a former Sears department store at 309 Huffman Mill Road within Holly Hill Mall. Morgan Cos. intends to develop the 9.6-acre site into a shopping center anchored by a 48,387-square-foot Publix grocery store and 13,400 square feet of inline retail space. Prego’s Trattoria restaurant, located on an outparcel, is also part of the purchased property. Morgan Cos. will also develop the former Sears Auto Center outparcel next to Prego’s into a multi-tenant retail building as part of the project. Morgan Cos. plans …
Covington, Wash. — Weingarten Realty Investors has acquired Covington Esplanade, a daily needs-focused shopping center located in Covington, a suburb 25 miles southeast of Seattle. Situated on 15.3 acres at 27027 SE 185th Ave., Covington Esplanade features 187,388 square feet of retail space spread across seven separate parcels with uniform facades. At the time of sale, the property was 97.7 percent leased to a variety of tenants, including The Home Depot, Red Robin Gourmet Burgers and Brews, NorthWest Family Dental Care, IHOP, Bank of America, Verizon and Starbucks Coffee. Nick …
Jeffersonville, Ind. — SRS Real Estate Partners National Net Lease Group has arranged the sale of Jefferson Town Center West in Jeffersonville for $30 million. The newly developed, 184,663-square-foot regional shopping center is located at 4251 Town Center Blvd. It is fully leased to tenants such as Hobby Lobby, Burlington, TJ Maxx, HomeGoods, Petco, Five Below and Ulta. Michael Carter and Frank Rogers of SRS represented the seller, a Louisville, Kentucky-based developer. Carter and Rogers also represented the buyer, a private investor based in Newport Beach, California.
Revere, Mass. — Winstanley Enterprises and Surrey Equities have sold Wonderland Marketplace, a 139,507-square-foot shopping center in Revere, for $24.1 million. The shopping center is anchored by Marshalls, Big Lots and Planet Fitness and is adjacent to the Massachusetts Bay Transportation Authority Wonderland Station. The property is located at 151 VFW Parkway, five miles northeast of downtown Boston. Nat Heald and Chris Angelone of JLL represented the sellers in the transaction. Urban Edge Properties purchased the asset.
Millington, Tenn. — Newmark Knight Frank (NKF) has brokered the sale of the 106,495-square-foot Shoppes at Millington Farms, a 106,495–square-foot shopping center located at 8540 U.S. Highway 51 N. in Millington. Real estate firm Ryan Cos. sold the center, located 18 miles northeast of Memphis, to Living for Life Apartments LLC. Drew Fleming, Mark Joines and Henry Kushner of NKF represented the seller in the transaction. Built in 2017, the shopping center was fully leased to tenants including Ross Dress for Less, Five Below, Petco, Burkes Outlet and Dunham’s Sports. The sales price was not disclosed.
Newton, Mass. and Dallas — Spirit Realty Capital Inc., a net-lease REIT based in Dallas, has purchased a national single-tenant retail portfolio for $435 million. The portfolio’s seller is Service Properties Trust, a net-lease retail and lodging REIT based in the western Boston suburb of Newton. The portfolio spans 26 states and includes 123 stores leased to 54 different concepts. About a third of the portfolio is leased to restaurants, including Wendy’s, Buffalo Wild Wings, KFC, Skyline Chili, Burger King, Rally’s and Popeye’s. The portfolio’s tenant roster also includes service-oriented …