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.
Corona, Calif. — Pacific Petroleum Inc. has acquired Main Street Village Center, a retail center in Corona, for $7.8 million. The property features 20,000 square feet of retail space. Alan Krueger and Vanessa Haddad of CBRE represented Pacific Petroleum and the seller, LJZ Corona LLC, in the deal.
Newport Beach, Calif. — Faris Lee Investments and SSG Realty Corp. have arranged the $4.4 million sale of a mixed-use property located on Newport Beach’s Balboa Island. Jeff Conover, Shaun Riley, Scott DeYoung and Greg Lukosky of Faris Lee Investments, with Greg Swedelson and Jon-Eric Greene of SSG Realty Corp., represented the undisclosed buyer and seller in the transaction. Situated on two separate parcels, the property features storefront retail with two second-floor residential units. Two street-level retail shops and two residential tenants currently occupy the property.
Mentor, Ohio — The Cooper Commercial Investment Group has brokered the $2.1 million sale of a single-tenant retail property located in Mentor. Starbucks Coffee occupies the building, which was constructed in 2022, with roughly eight years remaining on its lease. Dan Cooper of Cooper Commercial Investment Group represented the seller, an Ohio-based investment group, in the 1031-exchange transaction.
Rancho Palos Verdes, Calif. — Calmwater Capital has provided a $12.3 million loan for the acquisition and renovation of Western Plaza, a retail center located in Rancho Palos Verdes, roughly 30 miles outside Los Angeles. Tenants at the property include The Habit, California Fish Grill, Urbane Café and Mattress Firm. The buyer, West Hive, plans to demolish one of the three existing buildings at the center and construct a 3,000-square-foot outdoor patio to serve the food-and-beverage concepts at the property. Other planned renovations include improvements to storefronts and facades, new signage …
Newport Beach, Calif. — California-based Graystone Capital Advisors has arranged the $12 million sale of a portfolio of 7-Eleven properties located throughout North Carolina and Virginia. A Texas-based developer sold the portfolio, which comprises seven newly constructed stores. 7-Eleven occupies the properties on 15-year leases. Shannon Bona and Julius Swolsky of Graystone represented the 1031-exchange buyer in the transaction.
Rio Rancho, N.M. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a 13,847-square-foot, single-tenant retail property in Rio Rancho. Natural Grocers occupies the building, which was built in 2020, on a 15-year, triple-net-lease basis, with 12 years remaining on the lease at the time of sale. Don McMinn of Taylor McMinn Retail Group represented the undisclosed seller in the transaction.”Despite the surplus of net-lease inventory on the market and limited buyer pool, quality net-lease grocery inventory remains in short supply and high demand,” says McMinn. Natural …
Peoria, Ariz. —Western Retail Advisors has brokered the $11.1 million sale of 83 Marketplace, a newly built retail center located in Peoria, a suburb northwest of Phoenix. A franchisee of Hawaii-based Seven Brothers Burgers acquired the property. Developed by Scottsdale-based Cavan Cos., the center totals 19,800 square feet across three buildings. The buyer plans to open a Seven Brothers restaurant at the property. Other tenants at the center include Bourbon & Bones, The Stetson Social, F45 Training, Herbal Nail Bar, Salon Blissful and Heartland Dental. Brian Gausden and Jake McClaughry of …