Investment sales

IllinoisInvestment salesNewsRetailers

Mid-America Negotiates Sale of 102,961 SF Shopping Center in Glenview, Illinois

by Alex Tostado

Glenview, Ill. — Mid-America Real Estate Corp. has arranged the sale of Glen Gate, a 102,961-square-foot shopping center in Glenview, 15 miles northwest of Chicago. Mariano’s anchors the fully leased property. Other tenants include AT&T, Hair Cuttery, Bentley’s Pet Stuff, Glenview Bank & Trust and For Eyes. The shopping center is situated at the northeast corner of Waukegan and Golf roads. Joe Girardi and Ben Wineman of Mid-America represented the seller, a client of LaSalle Investment Management. Dallas-based Invesco Real Estate purchased the asset for an undisclosed price.

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CaliforniaInvestment salesNet leaseNews

Flocke & Avoyer Arranges Sale of Three Triple-Net Leased Assets in Oceanside, California

by Alex Tostado

Oceanside, Calif. — Flocke & Avoyer Commercial Real Estate has directed the sale of three single-tenant, triple-net leased assets at Pacific Coast Plaza Center, a 450,000-square-foot retail center in Oceanside. AGC Pacific Coast Plaza sold the three properties for a total consideration of $11.2 million. Mahalah PCP Pad A and C acquired two properties, occupied by McDonald’s and Mimi’s, while H&S Energy purchased the Chevron-occupied asset. Steve Avoyer of Flocke & Avoyer represented the buyer, a private 1031 exchange, in the McDonald’s and Mimi’s transaction. El Warner of The Matthews …

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Investment salesNewsRetailersWashington

Security Properties, Rockwood Capital Buy Legacy at Pratt Park Mixed-Use Property in Seattle

by Alex Tostado

Seattle — Security Properties and Rockwood Capital have acquired Legacy at Pratt Park, a mixed-used property located 1800 S. Jackson St. in Seattle’s Central District, for an undisclosed price. Built in 2009, Legacy at Pratt Park features 249 apartments, as well as four retail spaces totaling 6,720 square feet. The property offers 360-degree views of the Seattle skyline, Elliott Bay, Mt. Rainier and the Olympic Mountains.

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ColoradoInvestment salesNewsRetailers

Pinnacle Real Estate Advisors Arranges $7.2 Million Acquisition of Arvada West Town Center Retail Asset in Colorado

by Alex Tostado

Arvada, Colo. — Pinnacle Real Estate Advisors has arranged the purchase of The Arvada West Town Center, a retail strip center in Arvada, a suburb 10 miles northwest of Denver. Courtyard on Vine St LLC and William Penn Apartments LLC acquired the asset for $7.2 million to complete a 1031 exchange. The name of the seller was not released. Located at 14455-14715 W. 64th Ave., the property features 40,859 square feet of retail space. Jeff Johnson and Andrew Monette of Pinnacle Real Estate Advisors represented the buyers in the deal.

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Investment salesNew YorkNewsRetailers

Wilson Development Group Acquires 195,972-Square-Foot Retail Power Center in Upstate New York

by Alex Tostado

Liverpool, N.Y. — SRS Real Estate Partners, a Dallas-based retail brokerage firm, has closed the sale of Clay South Center, a 195,972-square-foot power center in Liverpool, located northwest of Syracuse. Shadow-anchored by Target and anchored by Hobby Lobby and Lowe’s, the property was fully leased at the time of sale to other national tenants such as Chipotle and Verizon Wireless. Kyle Stonis, Pierce Mayson and Jonathan Lapat of SRS represented the seller, a partnership between South Clay Development Co. LLC and Clay Route 31 Development Co. LLC, in the transaction. Kyle Fant …

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CaliforniaInvestment salesNet leaseNewsRetailers

SRS Arranges $12.9 Million Sale of Avery Center Shops in Mission Viejo, California

by Alex Tostado

Mission Viejo, Calif. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of the retail component with Avery Center in Mission Viejo. Orange County-based Pacific Castle sold the property to an Orange County-based family for $12.9 million. The 16,568-square-foot retail portion includes two fully occupied retail buildings located at 28601-28621 Marguerite Parkway. Built in 1977 and renovated in 2016, the asset’s triple net leased tenants include Jimmy John’s Gourmet Sandwiches, Epic Wings, Broken Yolk Café and Big Grill Mongolian BBQ, as well as four local retailers. Patrick …

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CaliforniaInvestment salesNewsRetailers

Capstone Advisors Buys El Camino Square in Encinitas for $12.2 Million

by Alex Tostado

Encinitas, Calif. — Capstone Advisors has acquired El Camino Square, a retail property located in Encinitas. US Financial LP sold the asset for $12.2 million. Located at 191 N. El Camino Road, the two-level property features 28,037 square feet of retail space. Current tenants include T-Mobile, Salon Bella Bella, Golden State Bagels and Chiltonic. Vic Gausepohl and Kirk Allison of Colliers International San Diego Region represented the buyer, while the seller was self-represented in the deal. Gausepohl and Allison have also been retained to handle leasing for the property.

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Grocery-anchoredInvestment salesNewsRetailersSouth Carolina

EA Riverside Sells New Grocery-Anchored Shopping Center in Upstate South Carolina for $12 Million

by Alex Tostado

Greer, S.C. — Marcus & Millichap has arranged the $12 million sale of Riverside Crossing, a 58,358-square-foot, Lowes Foods-anchored shopping center in Greer. Other tenants include Smoothie King, Great Clips, Family Dentistry at Riverside Crossing, CT Nails and Madi Boutique. EA Riverside LLC built the center in 2017 and sold it to JohnCo LP, a private family office. Zach Taylor, Brian Munn and Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller in the transaction.

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Investment salesNewsPennsylvaniaRetailers

Marcus & Millichap Negotiates Sale of 62,506-Square-Foot Shopping Center in Peckville, Pennsylvania

by Alex Tostado

Peckville, Pa. — Marcus & Millichap has brokered the sale of Peckville Shopping Center, a 62,506-square-foot retail property, located just outside Scranton in northern Pennsylvania. The sales price was $5.1 million. A 20,045-square-foot Planet Fitness anchors the center, which was built in 1953 and renovated in 2004. Total occupancy at the property at the time of sale was 76 percent. Christopher Burnham, Dean Zang, David Crotts and Steven Siegel of Marcus & Millichap represented the seller, a New York City-based investment bank, in the transaction. The group also procured the …

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Investment salesNewsRetailersTexas

HSM Negotiates Sale of 62,000-Square-Foot Retail Property in Metro Dallas

by Alex Tostado

Allen, Texas — Henry S. Miller Brokerage (HSM) has negotiated the sale of a 62,000-square-foot retail property in the northeastern Dallas suburb of Allen. The sale included a 4.5-acre parking lot. Frank Bullock and Martin Gaines of HSM represented the seller, Denver-based Jumpstreet Trampoline Parks, which will lease back 40,000 square feet, in the transaction. Home décor retailer LoneStar Mercantile will occupy the remaining 22,000 square feet. Moon Kim of Lifestyles Realty represented the buyer, a Houston-based investment firm.

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