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Investment sales

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CaliforniaGrocery-anchoredInvestment salesNews

Chartwell Acquires Shopping Center in Southern California for $27.8 Million

by Hayden Spiess

Hermosa Beach, Calif. — Chartwell Real Estate Development has acquired Park Pacific Shopping Center in Hermosa Beach for $27.8 million. Tenants at the center, which totals 49,911 square feet, include Trader Joe’s, Starbucks Coffee, El Pollo Inka and Five Below. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented Chartwell in the transaction. The Bacon family, which has owned the property since 1949, was the seller. Previously the site of a car dealership, the property was converted to a shopping center in 1977.

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FloridaInvestment salesNews

SJS Realty Management Sells Retail Center in Tampa for $12.6 Million

by Hayden Spiess

Tampa, Fla. — SJS Realty Management has sold Fowler Plaza South, a retail center located in Tampa, for $12.6 million. Tenants at the property, which totals 57,093 square feet, include Dollar General, Champs, AT&T, Jimmy John’s, Foot Locker and Amscot. The center was 97 percent occupied at the time of sale. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller in the transaction. 

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Investment salesNewsWest Virginia

Cooper Commercial Brokers $2.7 Million Sale of Retail Center in Huntington, West Virginia

by Hayden Spiess

Huntington, W.V. — The Cooper Commercial Investment Group has brokered the $2.7 million sale of a retail center located in Huntington. Dollar Tree anchors the property, which was sold by a private investor based in the Midwest. Adapthealth recently signed a lease at the property, which is situated directly across from the St. Mary’s Medical Center Main Campus Hospital. 

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FloridaGrocery-anchoredInvestment salesNews

IPA Brokers $31 Million Sale of Shopping Center in Boynton Beach, Florida

by Hayden Spiess

Boynton Beach, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $31 million sale of Village Square at Golf, a 135,133-square-foot shopping center located in Boynton Beach. KC Market anchors the property, which was built in 1983 and renovated in 2012. Other tenants at the center, which was 93 percent occupied at the time of sale, include Enterprise Rent-A-Car, Quest Diagnostics, The UPS Store, Boynton Quality Medical Center and Anthony’s Ladies’ Apparel. Kirk Olson and Drew Kristol of IPA represented the seller, a publicly traded …

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GeorgiaGrocery-anchoredInvestment salesNewsTexasVirginia

Sterling Acquires $180.5 Million Shopping Center Portfolio 

by Hayden Spiess

West Palm Beach, Fla. — The West Palm Beach-based Sterling Organization has acquired a portfolio of three shopping centers for $180.5 million. The portfolio was purchased on behalf of the value add fund investment vehicle Sterling Value Add Partners IV L.P. ,and SITE Centers was the seller. The properties include Fairfax Towne Center in Fairfax, Virginia; Presidential Commons in Snellville, Georgia; and Village at Stone Oak in San Antonio.  Safeway anchors Fairfax Towne Center, which totals 253,392 square feet. Other tenants at the property include T.J. Maxx, Regal Cinemas and JOANN …

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Investment salesNewsTexas

Hanley Arranges Sale of 14,490-Square-Foot Single-Tenant Property in Houston Suburb

by Hayden Spiess

Spring, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of a 14,490-square-foot single-tenant property located in Spring, a suburb of Houston. Built in 2001, the building is situated within a Kroger-anchored shopping center. Walgreens occupies the property. Kevin Fryman, Garrett Wood and Ed Hanley of Hanley, in association with ParaSell Inc., represented the seller, a Houston-based private investor. Melissa Brams of Gerber Realty represented the buyer, a Louisiana-based private investor. 

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Investment salesNew YorkNews

Nouvini Property Investments Buys Long Island Retail Property for $3 Million 

by Hayden Spiess

Greenlawn, N.Y. — New York-based Nouvini Property Investments has purchased a retail property in the Long Island community of Greenlawn for $3 million. According to LoopNet Inc., the 20,000-square-foot property was built in 2012 and is leased to multiple restaurants. Triple Net Brokers represented both Nouvini and the undisclosed seller in the transaction.

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ArizonaInvestment salesNews

Westwood Financial Purchases 83,787-Square-Foot Paradise Hills Shopping Center in Phoenix

by Hayden Spiess

Phoenix — Westwood Financial has purchased Paradise Hills Shopping Center, a retail property located in Phoenix, from Abbington Emmerson Investments for an undisclosed price. Situated on 7.5 acres, the property totals 83,787 square feet of retail space.  Tenants at the center include Ace Hardware, Pet Supplies Plus and Uptown Jungle. Mindy Korth, J.K. Jackson, El Warner and Caitlin Zirpolo of Colliers represented the seller in the deal.

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GeorgiaInvestment salesNews

CNSREIT Acquires 142,000-Square-Foot Shopping Center in Metro Savannah

by Hayden Spiess

Pooler, Ga. — Cohen & Steers Income Opportunites REIT (CNSREIT) has acquired Village on Pooler Parkway, a 142,000-square-foot shopping center located in Pooler, roughly 15 miles outside Savannah. CNSREIT purchased the center through a joint venture with Sterling Organization. Built in 2014, the property was fully leased at the time of sale. Tenants at the center include T.J. Maxx, Ross Dress for Less, Michaels, PetSmart, Panera Bread, Buffalo Wild Wings and Jersey Mike’s. 

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