Plano, Texas — Marcus & Millichap has arranged the sale of Independence Park, a 31,950-square-foot retail property located at 3020 Legacy Drive in the northern Dallas suburb of Plano. The property was built in 1994. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed private investors.
Leesburg, Va. — KLNB has negotiated the $9.7 million sale of a portion of Shenandoah Square Shopping Center in Leesburg. The two parcels included in the sale are located at 932 and 952 Edward Ferry Road NE and total 29,480 square feet. Tenants include Sherwin Williams, Cosmo Prof, Jenny Craig, Domino’s and Regional Finance. Shenandoah Square also includes a Walmart, Exxon gas station, Taco Bell, IHOP and 83,240 square feet of office space. The shopping center is situated 37 miles northwest of Washington, D.C. Kevin Goeller, Ryan Goeller, Veronica Kamara, …
Hinesville, Ga. — Cohen Financial, a division of SunTrust Bank, has arranged a $17.1 million acquisition loan for Oglethorpe Square in Hinesville. Goldman Sachs provided the 10-year loan to an undisclosed borrower. Situated about 40 miles southwest of downtown Savannah, the 158,000-square-foot Oglethorpe Square, which Hutton completed in March 2017, is a fully leased retail center with tenants including Dick’s Sporting Goods, Hobby Lobby, T.J. Maxx and Ulta Beauty. The seller was not disclosed.
Las Vegas — Newmark Knight Frank has arranged the sale of Cornet Plaza in Las Vegas. Cornet Plaza LLC sold the asset to C&C Elliot Street LP for $6.4 million. Located at 771 E. Horizon Drive, the shopping center features 26,888 square feet of space. Tenants include Capriotti’s, Papa John’s and Hammers Grill & Bar. Michael Zobrist and Nelson Tressler of Newmark Knight Frank represented the seller in the deal.
Lincoln, R.I. — Twin River Worldwide Holdings Inc. (NYSE: TRWH) has entered into an agreement to acquire Isle of Capri Casino Kansas City in Missouri and Lady Luck Casino Vicksburg in Mississippi for $230 million. Eldorado Resorts Inc. (Nasdaq: ERI) is the seller. Isle of Capri is located near downtown Kansas City, overlooking the Missouri River. The property offers 40,000 square feet of casino space, 939 gaming machines, 13 table games and two dining venues. Lady Luck Casino Vicksburg is situated along the Mississippi River. The property features 25,000 square …
Park Forest, Ill. — Matanky Realty Group has negotiated the sale of a 102,647-square-foot shopping center located at 80-138 S. Orchard Drive in Park Forest, south of Chicago. Freedom Development Group purchased the three-building property for an undisclosed price. The Family Dollar-anchored center includes a grocery store and auto repair center. The buyer was attracted to the site due to its location within a federal Opportunity Zone, according to Matanky. Terri Cox and Don Wagener of Matanky brokered the transaction.
Cottage Grove, Ore. — Hone Investments has completed the disposition of a retail asset located at 1074 E. Main St. in Cottage Grove in Central Oregon. West Plaza LLC bought the property for $5.7 million. Walgreens occupies the 14,820-square-foot retail property with 15 years remaining on its existing long-term lease. Jon Busse and David Kotansky of Colliers International San Diego Region represented the seller, while Jeff Miller of First Commercial Real Estate Services represented the buyer in the deal.
Woodhaven, Mich. — Marcus & Millichap has arranged the sale of Woodhaven Village Square for $5.7 million. The 50,414-square-foot retail center is located in Woodhaven, a southern suburb of Detroit. The property is fully leased to Michaels, PetSmart, Cato and Dance Nation. Ashish Vakhariya and Seth Haron of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not disclosed.
Dallas and Arlington, Texas — Denver-based investment and management firm Baceline Investments has purchased two retail centers totaling 109,145 square feet in Dallas and Arlington. The properties include Cooper Street Marketplace, a 75,974-square-foot, multi-tenant shopping center in Arlington; and Tarrant Parkway, a 33,171-square-foot property in Dallas. The assets were acquired in conjunction with a 71,602-square-foot center in Indianapolis. The seller was not disclosed. Baceline now owns more than 2 million square feet of retail space across 15 states, a portfolio that has an occupancy rate of 91 percent.
Willowbrook, Ill. — Marcus & Millichap has brokered the $5.8 million sale of Willow Commons in Willowbrook, about 25 miles southwest of Chicago. The 58,497-square-foot retail center is situated on 75th Street. At the time of sale, the property was 98 percent leased to a mix of tenants, a majority of which have occupied space at the shopping center for more than 15 years. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller and represented the buyer.
