Investment sales

CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Brokers $5 Million Sale of Retail Asset in Long Beach, California

by Alex Tostado

Long Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of high-street, multi-tenant retail property located at 5354 E. Second St. in Long Beach’s Belmont Shore neighborhood. A Jackson, Wyoming-based private investor sold the asset to a Long Beach-based private investor for $5 million. Built in 1952, the two-story building features 8,991 square feet of retail space. At the time of sale, the property was 100 percent leased. Current tenants include Arthritis National Research Foundation, Jonnum Media, The Flynn Group and FEA Consulting. Kevin Fryman, Carlos …

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IllinoisInvestment salesNewsRetailers

JLL Brokers Sale of 18,000-Square-Foot Retail Asset Leased to Goodwill in Glenview, Illinois

by Alex Tostado

Glenview, Ill. — JLL has brokered the sale of a newly constructed, 18,000-square-foot retail property that is triple net leased to Goodwill in the Chicago suburb of Glenview. The sales price was not disclosed. The building is situated on 1.7 acres at 2740 Old Willow Road. JLL marketed the property on behalf of the seller, a Chicago-based developer. Florida-based Best Properties LLC purchased the asset while completing a 1031 tax-deferred exchange. Goodwill Industrials of Southeastern Wisconsin Inc., which is the largest of the more than 165 Goodwill organizations worldwide, began …

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ConnecticutInvestment salesNewsRetailers

Lyman Real Estate Arranges Sale of 9,331-Square-Foot Retail Building in Branford, Connecticut

by Alex Tostado

Branford, Conn. — Lyman Real Estate (LRE) has arranged the $1.1 million sale of a 9,331-square-foot retail building in Branford, an eastern suburb of New Haven. The building at 854 W. Main St. was previously occupied by Party City. The buyer, LA-IN-USA LLC, will use 3,000 square feet on the first floor to expand its Villa Nail Spa business. Ron Lyman of LRE represented the buyer in the transaction. Jeffrey Kravet of Kravet Realty represented the seller, Branford Realty Trust LLC.

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FloridaInvestment salesNewsRetailers

Phillips Edison Sells 124,268-Square-Foot Shopping Center Near Daytona Beach

by Alex Tostado

Port Orange, Fla. — Phillips Edison & Co. Inc. has sold Countryside Shopping Center, a 124,268-square-foot retail center in Port Orange. An affiliate of Atlanta-based Vanguard Associates Inc. acquired the property for an undisclosed price. Sav-a-Lot and Big Lots anchor the 96 percent-leased center. Other tenants at the time of sale included Halifax Health, Wells Fargo, Cici’s Pizza, Workout Anytime and H&R Block. The center is located at 3840 S. Nova Road, seven miles south of downtown Daytona Beach. Eric Williams, Daniel Finkle, Luis Castillo and Whitaker Leonhardt of JLL …

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Investment salesNewsRestaurantsRetailersSouth Carolina

Eyzenberg & Co. Arranges Acquisition Financing for Beachside Retail Center in Myrtle Beach

by Alex Tostado

Myrtle Beach, S.C. — Eyzenberg & Co. has arranged a $14.1 million acquisition loan for THEBlvd, a 42,000-square-foot entertainment, retail and restaurant building in Myrtle Beach. The property is located at 1410 N. Ocean Blvd., a mile north of downtown Myrtle Beach. The seller, Land South of MB LLC, developed the three-story asset, which was fully triple-net leased to tenants including live music venue Tin Roof Myrtle Beach, Bandito’s Restaurant and Cantina and American Resort Management. An undisclosed New York family investor acquired the property for $22.6 million completing a …

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GeorgiaGrocery-anchoredInvestment salesNews

JLL Negotiates Sale of 335,190-Square-Foot Cobb Place Shopping Center in Metro Atlanta

by Alex Tostado

Kennesaw, Ga. — JLL has negotiated the sale of Cobb Place, a 335,190-square-foot retail center in Kennesaw. The property was 95 percent leased at the time of sale to tenants including Bassett Furniture, American Signature Furniture, Ashley Furniture, Bed Bath & Beyond, Cost Plus World Market, Hobbytown USA, DSW, Jersey Mike’s and Play It Again Sports. Cobb Place is situated on 31 acres at 840 Ernest W. Barrett Parkway, 24 miles northwest of downtown Atlanta. Jim Hamilton and Brad Buchanan of JLL represented the seller, a partnership between DRA Advisors …

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CaliforniaInvestment salesNewsRetailers

Lee & Associates Negotiates Sale of 17,908-Square-Foot Retail Building Near San Diego for $6.1 Million

by Alex Tostado

Escondido, Calif. — Lee & Associates–North San Diego County has arranged the sale of a retail asset located in Escondido. Malakooti & Kaikavoosnejad Revocable Trust sold the property to Goodwill Industries of San Diego for $6.1 million. Located at 315 W. Washington Ave., the building features 17,908 square feet of retail space. The property is situated on a 2.1-acre lot adjacent to City Hall and the California Center for the Arts. Michael Golden of Lee & Associates–North San Diego County represented the seller, while Bryan Cunningham of Flocke & Avoyer …

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ColoradoInvestment salesNewsRetailers

Marcus & Millichap Brokers $9.2 Million Purchase of Country Club Village Retail Property in Metro Denver

by Alex Tostado

Westminster, Colo. — Marcus & Millichap has brokered the sale of Country Club Village, a retail asset located at 2721 and 2821-2851 W. 120th Ave. in Westminster. A California-based private investor acquired the asset for $9.2 million. Tenants at the 33,091-square-foot property include Caribou Coffee Co., TCBY Yogurt, Ana’s Mexican Restaurant, Hana Matsuri Sushi and Gillett Veterinary Clinic. Ryan Bowlby of Marcus & Millichap’s Denver office represented the buyer in the deal. Phillip Gause, also of Marcus & Millichap, secured financing for the transaction. The financing features a fixed, long-term …

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GeorgiaInvestment salesNewsRetailers

Halpern Enterprises Acquires 133,310-Square-Foot Shopping Center in North Georgia

by Alex Tostado

Calhoun, Ga. — Halpern Enterprises has acquired Indian Hills, a 133,310-square-foot shopping center in Calhoun. Developed in 1998, Indian Hills’ current tenants include Chick-fil-A, Hibbett Sports, CATO, GNC, PT Solutions and Tractor Supply. Taco Bell and Captain D’s are located on separately owned parcels directly in front of the property. Indian Hills is located at 429 Ga. Highway 53, directly across from Mohawk Industries, which employs 3,400 people. The seller and sales price were not disclosed.

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FinanceFloridaInvestment salesNewsRetailers

JLL Arranges Sale, Financing for Retail Center in Orlando

by Alex Tostado

Orlando, Fla. — JLL has arranged the $8.5 million sale of Premium Shoppes at Lake Buena Vista, a 26,148-square-foot retail center in Orlando. The property was fully leased at the time of sale to tenants including Carrabba’s Italian Grill, Panera Bread, Verizon Wireless, Escape Room and Tropical Smoothie Café. Premium Shoppes is located at 8600 Vineland Ave., two miles from the entrance of Walt Disney World. Tarik Bateh, Carson Good (now with Good Capital Group), Jennifer Swanson, and Jennifer Ayers of JLL represented the seller, an affiliate of Orlando-based Intram …

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