Investment sales

ArizonaGrocery-anchoredInvestment salesNewsRetailers

Boardman Enterprises Sells Chandler Heights Marketplace in Arizona for $30.8 Million

by Alex Tostado

Chandler, Ariz. — Boardman Enterprises has completed the disposition of Chandler Heights Marketplace, a grocery-anchored neighborhood shopping center in Chandler. Sita Enterprises acquired the 124,822-square-foot asset for $30.8 million. Situated on 18 acres at 4940 S. Gilbert Road, the property was more than 69 percent occupied at the time of sale. Current tenants include Bashas’, Ace Hardware, Leslie’s Pool Supplies, Starbucks Coffee, Orangetheory Fitness, Pizza Hut, H&R Block and Edward Jones. Shane Jimenez of Lee & Associates of Idaho, along with Jan Fincham and Andrew Lundahl of Lee & Associates …

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Investment salesNewsRetailersTexas

Pillar Capital Sells Retail Power Center in Abilene for $20.1 Million

by Alex Tostado

Abilene, Texas — Arizona-based private investment firm Pillar Capital Group has sold The Shops at Abilene Village, a 145,000-square-foot retail power center in West Texas, for $20.1 million. Anchored by Academy Sports + Outdoors, the center also houses tenants such as Burlington, Petco, Party City and Five Below. Brandon Duff and Tom Fritz of Oklahoma-based net-lease brokerage firm Stan Johnson Co. represented the seller in the transaction. Texas-based Nooner Holdings Ltd. acquired the Abilene asset, which has a traffic count of more than 104,000 vehicles per day, via a 1031 …

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FloridaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $11 Million Sale of Retail Center in Central Florida

by Alex Tostado

Haines City, Fla. — Marcus & Millichap has arranged the $11 million sale of Heart of Florida Shopping Center in Haines City. The 131,500-square-foot shopping center is located at 35874-35938 Highway 27, 40 miles southwest of downtown Orlando. The shopping center was originally built in 1984. At the time of sale, 82 percent of the center’s tenant lineup was national retailers including Dollar General, Tractor Supply and Big Lots. The buyer was a Florida investor in a 1031 tax-deferred exchange. Tim Giambrone of Marcus & Millichap represented the seller, a …

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CaliforniaInvestment salesNewsRetailers

Sterling Organization Acquires Value-Add Retail Center in Metro San Diego for $27 Million

by Alex Tostado

Poway, Calif. — Sterling Organization has acquired Poway Crossings, a 109,455-square-foot, retail center in Poway, for $27 million. Sterling Organization bought the property through its value-add fund, Sterling Value Add Partners III LP. Poway Crossing is located 12622-12654 Poway Road, 20 miles north of downtown San Diego. LA Fitness anchors the property, and other tenants include Dollar Tree, Big 5 Sporting Goods, Massage Envy, Sola Salon Studios, Sushi Lounge, Banfield Pet Hospital and KFC. Gleb Lvovich and Daniel Tyner of HFF represented the undisclosed seller in the transaction.

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CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNewsRetailers

Faris Lee Investments Arranges $6.9 Million Sale of Restoration Hardware Location in Orange County

by Alex Tostado

Irvine, Calif. — Faris Lee Investments has arranged the sale of a retail property located in Irvine. A Los Angeles-based buyer acquired the asset from an Irvine-based seller for $6.9 million. Restoration Hardware occupies the property. Rick Chichester, Tom Chichester and Joe Chichester of Faris Lee Investments represented the seller and buyer in the deal.

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Investment salesNewsRetailersWashington

Marcus & Millichap Arranges $1.9 Million Sale of Starbucks Shopping Strip in Richland, Washington

by Alex Tostado

Richland, Wash. — Marcus & Millichap has brokered the sale of a small retail center anchored by Starbucks in Richland. A developer sold the property to an undisclosed buyer for $1.9 million. Located at 698 Gage Blvd., the property features 7,038 square feet of retail space. Brendan Powell of Marcus & Millichap’s Portland, Ore., office, along with Joe Deis of Marcus & Millichap, represented the seller in the deal.

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Investment salesNew YorkNewsRetailers

Cushman & Wakefield Negotiates $1.9 Million Sale of Retail Building in Astoria

by Alex Tostado

New York City — Cushman & Wakefield has arranged the $1.9 million sale of 3175-3177 Steinway St., a 2,000-square-foot commercial building currently leased to a women’s clothing retailer, for $1.9 million. Baby Blue occupies the single-story property, which is located within a C4-2A zoning district, allowing for commercial or residential development, with a total of approximately 6,750 buildable square feet. ABS Steinway Acquisition II LLC acquired the property for $935 per square foot, the highest per-square-foot transaction on Steinway Street in more than two years. Stephen R. Preuss and Andreas Efthymiou of Cushman …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Forge Capital Sells Two Publix-Anchored Properties in Florida

by Alex Tostado

St. Petersburg and West Palm Beach, Fla. — Forge Capital Partners has sold Disston Plaza, a 129,150-square-foot shopping center in St. Petersburg, and Polo Grounds Mall, a 130,015-square-foot shopping center in West Palm Beach. New Market Properties LLC, a subsidiary of Preferred Apartment Communities, acquired both properties, which are both anchored by Publix. Disston Plaza was built in 1954 and was renovated in 2018. The property was 97 percent leased at the time of the sale to tenants including Publix, Bealls Outlet, Dollar Tree, Suncoast Resale Shoppe, Anytime Fitness, Subway, …

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Investment salesNewsRetailersTexas

STRIVE Arranges Sale of 6,571-Square-Foot Retail Strip Center in McKinney

by Alex Tostado

McKinney, Texas — Dallas-based retail brokerage firm STRIVE has arranged the sale of The Shops at Lake Forest, a 6,571-square-foot retail strip center located in the northern Dallas suburb of McKinney. The four-tenant property was built in 2018 and is situated along Collin McKinney Parkway just north of the Sam Rayburn Tollway. The average household income within a one-mile radius of the property exceeds $131,000. STRIVE worked with an outside broker to procure the buyer and represented the seller, both of which were locally based private investors.

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GeorgiaInvestment salesNewsRetailers

Newmark Knight Frank Arranges Sale of 106,485-Square-Foot Shopping Center in Metro Atlanta

by Alex Tostado

Alpharetta, Ga. — Newmark Knight Frank (NKF) has arranged the sale of Stonewood Village, a 106,485-square-foot shopping center in Alpharetta. Stonewood Village was 70 percent leased at the time of the sale to tenants including Dover Saddlery, Anytime Fitness, Queen of Hearts Antiques and Pure Spa. A vacant big box also sits on the site. Orkin & Associates acquired the property, which is situated at 670 N. Main St., 30 miles north of downtown Atlanta. Mark Joines and Drew Fleming of NKF represented the seller, Nightingale Properties, in the transaction. …

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