Investment sales

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Disney Negotiates Sale of 417,515-Square-Foot Retail Power Center in Norman, Oklahoma

by Alex Tostado

Norman, Okla. — Dallas-based Disney Investment Group has negotiated the sale of University Town Center, a 417,515-square-foot retail power center in Norman. The property was 99 percent leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, Academy Sports + Outdoors, Kohl’s and Michael’s. Disney represented the undisclosed seller in the transaction. The buyer was an entity controlled by Rainier Realty Investments, which partnered with CIL2 REIT LLC, managed by Continuum Holdings. Dallas-based Metropolitan Capital Advisors arranged acquisition financing for the deal.

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Plaza Advisors Arranges Sale of 90,328-Square-Foot Shopping Center in Metro Tampa

by Alex Tostado

Temple Terrace, Fla. — Plaza Advisors has arranged the sale of Temple Terrace Plaza, a 90,328-square-foot shopping center in Temple Terrace. The Winn Dixie-anchored property was 95 percent leased at the time of sale to tenants including the United States Post Office, Greenberg Dental, Sally Beauty, Rainbow, Mariner Finance and Sprint. Temple Terrace Plaza is located at 8837 N. 56th St., nine miles north of downtown Tampa. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller, a REIT, in the transaction. The buyer was an undisclosed private equity …

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ArizonaInvestment salesNewsRetailers

Hanley Investments Arranges $7.6 Million Sale of Retail Pad Building in Glendale, Arizona

by Alex Tostado

Glendale, Ariz. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant pad building located at 7870 W. Bell Road in Glendale. ECC Bell Road Property LLC sold the asset to a family trust based in Orange County, Calif., for $7.6 million, or $901 per square foot. Tenants at the 8,433-square-foot property include The Habit Burger Grill, Tempur-Pedic, Pearle Vision and Blaze Pizza. The 1.2 million-square-foot Arrowhead Towne Center Mall shadow anchors the asset. Bill Asher and Jeff Lefko of Hanley Investment represented the seller, while …

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CaliforniaInvestment salesNewsRetailers

Flocke & Avoyer Negotiates $4.8 Million Sale of Three Retail Parcels in Ramona, California

by Alex Tostado

Ramona, Calif. — Flocke & Avoyer Commercial Real Estate has arranged the sale of three retail parcels, totaling 22,527 square feet, at Stonegate Plaza Shopping Center in Ramona. Trevor Associates acquired the assets from Lesser-Moore South Coast for $4.8 million. Goodwill, The UPS Store, T-Mobile, Sally’s Beauty Supply and Itan occupy the parcels, located at 1668, 1672 and 1676 Main St. Stater Bros and Rite Aid serve as shadow anchors. Bryan Cunningham of Flocke & Avoyer represented the seller, while Steve Hollenbeck represented the buyer in the deal.

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Investment salesNebraskaNewsRetailers

Broad Reach Retail Acquires 158,380-Square-Foot Shopping Center in Omaha

by Alex Tostado

Omaha, Neb. — Broad Reach Retail Partners has acquired Baker Square Shopping Center, a 158,380-square-foot grocery-anchored shopping center in Omaha. The property was 73 percent leased at the time of the sale to tenants including Fresh Thyme Farmers Market, JoAnn Fabric and CHI Health. There is 43,394 square feet of available space. Baker Square is located one mile south of LinkedIn’s new 200,000-square-foot office campus, that when complete in 2021, could house as many as 1,000 employees.

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ArizonaInvestment salesNewsRetailers

Weingarten Realty Investors Sells 39,763-Square-Foot Laveen Village Marketplace in Arizona

by Alex Tostado

Laveen, Ariz. — Houston-based Weingarten Realty Investors has completed the disposition of Laveen Village Marketplace, a retail center located at the intersection of 51st and Baseline avenues in Laveen. The name of the buyer and acquisition price were not released. At the time of sale, the 39,763-square-foot property was fully leased to Fry’s Food & Drug, Chipotle, Wing Stop, Jersey Mikes Subs, Med Post Urgent Care and Starbucks Coffee, as well as McDonald’s and Wells Fargo on outparcels. Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller …

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ArizonaInvestment salesNewsRetailers

Vestar Acquires University Plaza Shopping Center in Arizona for $27.5 Million

by Alex Tostado

Flagstaff, Ariz. — Vestar has purchased University Plaza, a shopping center located 1312 S. Plaza Way in Flagstaff. An undisclosed seller sold the property for $27.5 million. Situated near downtown Flagstaff, University Plaza features 165,615 square feet of retail space. At the time of sale, the property was 98 percent leased and anchored by Safeway, Ross Dress for Less, Bed Bath & Beyond and PetSmart. Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller in transaction.

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Investment salesNewsRetailersTexas

Williamsburg Enterprises Sells 44,297-Square-Foot Shopping Center in Houston

by Alex Tostado

Houston — Williamsburg Enterprises Limited has sold Normandy Shopping Center, a 44,297-square-foot retail center in northeastern Houston. Normandy Shopping Center is located at 12620 Woodforest Blvd. At the time of the sale, the Kroger shadow-anchored property was 98 percent leased to tenants including Zachry Construction, Texas Children’s Urgent Care, GNC, Pink Nails, Wing Stop, Rodeo Dental, Dominos and Woodforest National Bank. Ryan West, John Indelli and Johnny Kight of HFF represented the seller in the transaction. The buyer was an undisclosed private investor. The sales price was not disclosed.

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Investment salesNewsOregonRetailers

Weingarten Realty Sells 97,147-Square-Foot Oak Grove Market Shopping Center in Oregon

by Alex Tostado

Milwaukie, Ore. — Weingarten Realty has completed the disposition of Oak Grove Market, a four-building shopping center located at 15003-15121 SE McLoughlin Blvd. in Milwaukie. Clackamas Federal Credit Union acquired the 97,147-square-foot asset for an undisclosed price. The buyer plans to occupy the 53,000-square-foot former Safeway space at the property, which was built in 1991 by Gramor Development. Additional tenants include Five Guys, Baxter’s Auto Supply, Bank of America, Panda Express, Credit Concepts and Gentle Dental. Todd VanDomelen and Timothy Pfeiffer of Norris & Stevens represented the buyer, while Connelly …

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ColoradoInvestment salesNewsRetailers

Marcus & Millichap Arranges $5.1 Million Sale of Central Park Plaza Retail Asset in Denver

by Alex Tostado

Denver — Marcus & Millichap has brokered the sale of Central Park Plaza, a shopping center located in Denver’s Stapleton neighborhood. A private investor acquired the property for $5.1 million. Located at 5096 Central Park Blvd., Central Park Plaza features 17,844 square feet of retail space. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the buyer and seller, a private investor, in the deal.

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