Investment sales

GeorgiaInvestment salesNewsRetailers

Jamestown Acquires The Shops Buckhead Atlanta

by Alex Tostado

Atlanta — Jamestown has acquired The Shops Buckhead Atlanta, a 355,646-square-foot retail and office property in Atlanta’s Buckhead district. Situated along Peachtree Road and bounded by Pharr Road and Buckhead Avenue, The Shops Buckhead Atlanta is home to international retail brands such as Hermès and Tom Ford, as well as restaurants, entertainment and fitness tenants. The office space is fully leased to two tenants, Spanx’s global headquarters and No18, the first U.S. coworking location. Additionally, the property includes two prime development sites totaling 2.7 acres. OliverMcMillan developed the upscale, six-block property …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Cushman & Wakefield Arranges $49 Million Sale of Whole Foods-Anchored Shopping Center in Southwest Florida

by Alex Tostado

Fort Myers, Fla. — Cushman & Wakefield has arranged the $49 million sale of Daniels Marketplace, a 106,739-square-foot shopping center in Fort Myers. The site, situated at 6891 Daniels Parkway, was fully leased at the time of the sale to tenants including Whole Foods Market, a salon, dentist, Pilates gym, dry cleaner, pet hospital and several fast-casual restaurants such as Mellow Mushroom and Panera Bread. There are also future development opportunities at the property. Fain Hicks, Mark Gilbert, Lane Breedlove, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented …

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CaliforniaInvestment salesNewsRestaurants

Bolour Associates Acquires Quick-Serve Restaurant Site in Los Angeles for $7.4 Million

by Alex Tostado

Los Angeles — Beverly Hills, California-based Bolour Associates has purchased 0.69 acres, located at 163-179 S. Vermont St. in Los Angeles’ Koreatown, for $7.4 million. Simultaneous to the acquisition, Bolour signed long-term ground lease with an undisclosed quick-serve restaurant for the site. The site’s new tenant signed a 15-year, triple-net lease and is expected to complete tenant improvements on a standalone 3,209-square-foot building, located on the property, before opening for business. Alex Sachs and Brian Peterson of WESTMAC Commercial Brokerage Co. represented the buyer and undisclosed seller. Michael Pakravan of …

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CaliforniaInvestment salesNewsRetailers

Locker Realty Corp. Arranges $6.2 Million Acquisition of Starbucks-Occupied Building in Monrovia, California

by Alex Tostado

Monrovia, Calif. — Locker Realty Corp. has arranged the purchase of a restaurant and drive-thru property located West Huntington Drive in Monrovia. An undisclosed buyer acquired the property for $6.2 million. Starbucks Coffee occupies the recently completed, 2,200-square-foot building, which is situated on 27,975 square feet of land. The tenant relocated to the new location, which includes a drive-thru and outdoor patio, from 621 W. Huntington Drive. The lease is a corporate signature Starbucks net lease with approximately 20 years remaining. Paul Locker and Kristine Locker of Locker Realty represented …

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FloridaGrocery-anchoredInvestment salesNews

InvenTrust Purchases Costco-Anchored Shopping Center in South Florida for $97 Million

by Alex Tostado

Royal Palm Beach, Fla. — InvesTrust Properties Corp. has purchased Southern Palm Crossing, a Costco-anchored, 346,200-square-foot shopping center in Royal Palm Beach, for $97 million. Other tenants include Marshalls, HomeGoods and 24 Hour Fitness. The center is situated at 11001 Southern Blvd., 12 miles west of downtown West Palm Beach. The seller was not disclosed.

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

Unison Realty, Argosy Real Estate Acquire 421,680-Square-Foot Shopping Center in Southern Massachusetts

by Alex Tostado

Attleboro, Mass. — A joint venture between Unison Realty Partners and Argosy Real Estate Partners has acquired Bristol Place, a 421,680-square-foot, Market Basket-anchored retail center in Attleboro. Bristol Place is situated at the interchange of Interstate 95 and Route 1A, eight miles north of downtown Providence, Rhode Island. Built in 1993 and renovated in 2013, Bristol Place is home to other tenants including Home Depot, Party City, Bob’s Discount Furniture, Hobby Lobby and T.J. Maxx. The joint venture tapped The Wilder Cos. as the property manager and leasing agent for the …

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Investment salesNewsNorth CarolinaRetailers

M&J Wilkow, Bailard Partner to Buy Two Adjacent Retail Centers in Raleigh for $43.6 Million

by Alex Tostado

Raleigh, N.C. — A partnership between M&J Wilkow and Bailard Inc. has bought two retail centers totaling 323,000 square feet in Raleigh for $43.6 million. Midtown Commons is a 138,756-square-foot power center with tenants including Starbucks Coffee, T.J. Maxx and Dick’s Sporting Goods. Shoppes at Midway Plantation, a neighboring 184,244-square-foot power center, has tenants including Michael’s, Ross Dress for Less, Kay Jewelers, Saltgrass Steak House and Rack Room Shoes. The partners plan to implement a new leasing strategy to bring new-to-market retailers to the centers, as well as upgrade the …

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Investment salesMississippiNewsRetailers

CBL Properties Sells Shopping Center in Mississippi for $31.8 Million

by Alex Tostado

Madison, Miss. — CBL Properties has sold The Forum at Grandview, a 216,000-square-foot retail center in Madison, for $31.8 million. Hendon Properties acquired the center in an all-cash deal. CBL developed the property in a 75-25 joint venture with Mattiace Development in 2010. CBL received all of the profits from the sale. Tenants at The Forum include Best Buy, Dick’s Sporting Goods, HomeGoods, Michaels, Stein Mart, Petco and Ulta Beauty. The property is situated along Grandview Boulevard, 15 miles north of downtown Jackson.

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Grocery-anchoredInvestment salesNewsRetailersTexas

InvenTrust Acquires Whole Foods-Anchored Retail Center in Metro Dallas for $36 Million

by Alex Tostado

Fairview, Texas — Illinois-based retail REIT InvenTrust Properties Corp. has acquired Shoppes at Fairview, a 67,500-square-foot retail center in metro Dallas, for $36 million. Anchored by Whole Foods Market, the property also houses tenants such as Capital One and Jos. A Bank. Shoppes at Fairview is situated at 105 Stacy Road, 27 miles north of downtown Dallas. The seller was not disclosed.

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Investment salesMallsNew YorkNewsRetailers

Douglas Development Buys Regional Mall Near Buffalo for $30.5 Million

by Alex Tostado

Amherst, N.Y. — Douglas Development Co. has purchased Boulevard Mall, a 961,800-square-foot shopping and dining destination in the Buffalo suburb of Amherst, for $30.5 million. The property was originally built in 1962 and is situated on 64 acres. The mall was renovated in 2000 and is now anchored by tenants such as Dick’s Sporting Goods and Macy’s. Jose Cruz, Kevin O’Hearn, Claudia Steeb, Michael Oliver and Ryan Robertson of JLL handled the transaction in conjunction with Ten-X on behalf of the undisclosed seller. HFF closed the sale, which included an …

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