Investment sales

FloridaInvestment salesNewsRetailers

Maddox Cos. Sells 53,456-Square-Foot Retail Center Near Tampa

by Alex Tostado

Seminole, Fla. — Maddox Cos. has sold Twin Oaks Shopping Center, a 53,456-square-foot retail center in Seminole. The property is located at the corner of U.S. Highway 19-A and Fla. Highway 694, 24 miles southwest of downtown Tampa. Twin Oaks was fully leased at the time of sale to tenants including Crunch Fitness, Davita Dialysis, Optimart, Carepoint Pharmacy and First American Title Co. Maddox Cos. redeveloped the property between 2016 and 2018. John Hotchkiss of Vantix Realty represented the buyer, Japanese Gardens Mobile Estates LLC, in the transaction. The sales …

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Investment salesNewsOhioRetailers

Marcus & Millichap Brokers Sale of 105,313-Square-Foot Shopping Center Near Akron, Ohio

by Alex Tostado

Barberton, Ohio — Marcus & Millichap has brokered the sale of Barberton Shopping Center within the Akron metro area for an undisclosed price. Giant Eagle anchors the 105,313-square-foot fully leased shopping center, which is located at the intersection of Robinson Avenue and 5th Street. Giant Eagle occupies 83 percent of the center’s gross leasable area and includes a drive-thru pharmacy, wine and beer selection, bank branch and gas station. Other tenants include Chipotle, Jimmy John’s, Little Caesars, Verizon, Ohio BMV, H&R Block and Best Cuts. Erin Patton, Scott Wiles, Craig …

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Investment salesMinnesotaNewsRetailers

Hanley Investment Group Negotiates $11.8 Million Sale of Retail Center Near Twin Cities

by Alex Tostado

Woodbury, Minn. — Hanley Investment Group Real Estate Advisors has negotiated the $11.8 million sale of Commons Plaza, a 13,405-square-foot, three-building retail property in Woodbury. The property is located at 720-740 Commons Drive, 23 miles east of downtown Minneapolis. The property features a new 2,926-square-foot building that is fully leased to Raising Cane’s. The second building is a 3,551-square-foot building fully leased to Minneapolis-based Sleep Number. Lastly, the third building totals 7,199 square feet and is occupied by WellHaven Pet Health and Restore Cryotherapy. Jeff Lefko and Bill Asher of …

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CaliforniaInvestment salesNewsRetailers

Avison Young Arranges $8.1 Million Sale of Two-Building Retail Property in Hollywood, California

by Alex Tostado

Hollywood, Calif. — Avison Young has brokered the sale of a two-building retail property located in Hollywood. A New York-based family office sold the asset to a Los Angeles-based family-owned company for $8.1 million. Located at 7611-7623 Sunset Blvd., the property features a 3,725-square-foot building that was built in 1934 and an 8,843-square-foot building, which includes an outdoor patio space. At the time of sale, the asset was 63 percent occupied by five retail tenants. Chris Maling and David Maling of Avison Young represented the seller, while South Park Group …

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Grocery-anchoredInvestment salesNewsRetailersWisconsin

Mid-America Brokers $18.1 Million Sale of Shopping Center in West Allis, Wisconsin

by Alex Tostado

West Allis, Wis. — Mid-America Real Estate Corp. has brokered the sale of West Allis Center in Wisconsin for $18.1 million. The 259,962-square-foot shopping center, built in 1964, is located along the 108th Street retail corridor, four miles southwest of downtown Milwaukee. Tenants include Pick ’n Save, Kohl’s, Marshalls, HomeGoods, BMO Harris Bank and Walgreens. Ben Wineman and Dan Rosenfeld of Mid-America represented the seller, Ohio-based Retail Value Inc. Tennessee-based GBT Realty Corp. purchased the asset.

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CaliforniaInvestment salesNewsRetailers

Monro Mission Square Acquires 161,373-Square-Foot Shopping Center in Oceanside, California

by Alex Tostado

Oceanside, Calif. — Monro Mission Square LLC has purchased Mission Square, a shopping center located in downtown Oceanside, for an undisclosed price. Located at 1002-1064 Mission Ave. and 306-326 N. Horne St., the 161,373-square-foot property was 98 percent occupied at the time of sale to tenants including Walmart Neighborhood Market, 99 Cents Only, Auto Zone, Chase Bank and Harbor Freight Tools. Bill Barnett and Doug Hogan of Colliers International, along with Pacific Development Capital, represented the seller, Los Angeles-based Ona Mission Partners, and the buyer in the transaction. The new …

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Investment salesNewsRetailersWashington DC

Calkain Arranges $15 Million Sale of Triple-Net-Leased CVS in D.C.

by Alex Tostado

Washington, D.C. — Calkain Cos. has arranged the $15 million sale of a triple-net-leased CVS property in Washington, D.C. The 8,754-square-foot building is located at 3323, 3325-3329 Connecticut Ave. NW, three miles north of downtown Washington, D.C. The building first served as a pharmacy in the 1950s before being converted to a CVS in 1990. Jonathan Hipp and Rick Fernandez of Calkain represented the seller, an undisclosed family trust, in the transaction. The buyer was a private investor completing a 1031 tax-deferred exchange.

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Investment salesNewsRetailersTexas

Marcus & Millichap Brokers Sale of 8,723-Square-Foot Retail Strip Center Near Dallas

by Alex Tostado

Sachse, Texas — Marcus & Millichap has brokered the sale of Brookview Center, an 8,723-square-foot retail strip property located in Sachse, a northeastern suburb of Dallas. Philip Levy and Connor Zmolik of Marcus & Millichap represented the seller, a private investor, in the transaction. The property was built in 1985 and was fully occupied at the time of sale. All tenants are signed to triple-net leases.

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CaliforniaDevelopmentInvestment salesNews

HP Investors, FABRIC Buy Antique Mall on State Street in Carlsbad for Redevelopment

by Alex Tostado

Carlsbad, Calif. — HP Investors and FABRIC have acquired Antique Mall on State Street, a commercial property located in downtown Carlsbad. Bill Ostrie sold the property for an undisclosed price. The team plans to redevelop and rebrand the nearly 70-year-old property as State Street Commons. Located at 2742-2742 State St., the renovated property will provide more than 22,000 square feet of retail and creative office space. The $15 million renovation will maintain the asset’s architectural integrity, character and charm, while increasing safety and providing modern upgrades to the facades, storefronts …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Palomar Group Arranges $9.1 Million Sale of Winn Dixie-Anchored Center Near Tampa

by Alex Tostado

Brooksville, Fla. — The Palomar Group has arranged the $9.1 million sale of South Plaza, a 127,224-square-foot, Winn Dixie-anchored shopping center in Brooksville. The property was 97 percent leased at the time of the sale to tenants including Winn Dixie, Auto Zone, Beall’s Outlet, Focus Fit, UPS Store, Buddy’s Home Furnishings and T-Mobile. South Plaza is located at the corner of Cortez Boulevard and S. Broad Street, 50 miles north of downtown Tampa. David Rivers, Steve Collins and Ryan McArdle of The Palomar Group represented the seller, an undisclosed regional …

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