Investment sales

Investment salesNewsNorth CarolinaRetailers

Ziff Properties Sells Shopping Center in Charlotte for $12.2 Million

by Alex Tostado

Charlotte, N.C. — Ziff Properties has sold Terraces at University Place, a 65,112-square-foot shopping center in Charlotte, North Carolina’s University neighborhood, for $12.2 million. The center was built in 2000 and was 97 percent occupied at the time of the sale by tenants including The Flying Saucer Draught Emporium, Que Onda Tacos, Iron Dish Korean BBQ, The Press Box Bar & Grill and Smoothie King. Tom Kolarczyk of HFF represented the seller in the transaction. LBX Investments acquired the property. Gregg Shapiro and Cory Fowler, also with HFF, arranged a …

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Investment salesNewsRetailersSouth Carolina

Marcus & Millichap Arranges $7.1 Million Sale of Shopping Center in Aiken, South Carolina

by Alex Tostado

Aiken, S.C. — Marcus & Millichap has arranged the $7.1 million sale of Aiken Exchange, a 101,488-square-foot shopping center in Aiken that is shadow-anchored by Target. Built in 2002 and located 20 miles northeast of downtown Augusta, the property is anchored by PetSmart and Planet Fitness. Zach Taylor and Taylor McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, Lamar Cos., in the transaction. Marc Strauss, also of Marcus & Millichap, represented the buyer, Aiken Exchange Plaza LLC. The buyer purchased the shopping center in a 1031 exchange.

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Investment salesNewsRetailersWashington

SRS Arranges $6 Million Sale of Rite Aid-Occupied Asset in Kingston, Washington

by Alex Tostado

Kingston, Wash. — SRS Real Estate Partners has negotiated the sale of a single-tenant retail property, located at 27000 Miller Bay Road NE in Kingston. A U.S.-based investment fund sold the asset to a California-based family office for $6 million. Built in 2007 on 2.2 acres, the 17,272-square-foot building includes a drive-thru. Rite Aid currently occupies the property under a corporate-guaranteed triple-net lease with Rite Aid Corp. There are nine years remaining on the lease. Ryan Tomkins of SRS’ National Net Lease Group represented the seller in the transaction.

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Investment salesNewsRetailersTexas

STRIVE Negotiates Sale of 30,255-Square-Foot Shopping Center in Arlington, Texas

by Alex Tostado

Arlington, Texas — Dallas-based STRIVE has arranged the sale of Arkansas Square, a 30,255-square-foot shopping center in Arlington. The center is home to tenants such as Walmart Neighborhood Market, Walgreens, Subway, Dollar General and Spec’s Wine. Sam House of STRIVE represented the seller, a California-based investor, and procured the buyer, a locally based investor. Both parties requested anonymity.

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Investment salesNewsRetailersTexas

REATA, Stonefield Acquire 173,041-Square-Foot Shopping Center in San Antonio

by Alex Tostado

San Antonio — A joint venture between REATA Real Estate Services and Stonefield Investment Advisors has acquired Brooks Corner Shopping Center, a 173,041-square-foot retail power center located in San Antonio. The property was built in 2005 and was 96 percent leased at the time of sale to an array of national tenants, including Ross Dress for Less, Petco, Conn’s HomePlus and Dollar Tree. Brooks Corner is also shadow-anchored by H-E-B, The Home Depot and Target. The seller was InvenTrust Properties, an Illinois-based retail REIT. The sales price was not disclosed. …

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Grocery-anchoredInvestment salesMarylandNews

Neuman Commercial Arranges $18.2 Million Sale of Grocery-Anchored Shopping Center in Baltimore

by Alex Tostado

Baltimore — Neuman Commercial Group has arranged the $18.2 million sale of Alameda Marketplace, a 124,000-square-foot shopping center anchored by Shoppers Food in Baltimore. The asset was 90 percent leased at the time of the sale to 15 tenants including Walgreens, Family Dollar, Rent-A-Center, Planet Fitness, Fresenius Medical, Rainbow and Bank of America. Gil Neuman of Neuman Commercial represented the sellers, Atlantic Realty Co. and Walton Street Capital, in the transaction. The buyer was a private regional investment group. This is the second time that Neuman Commercial has represented the …

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Investment salesNewsRetailersTexas

Tryperion Partners Sells 136,553-Square-Foot Retail Center in Metro San Antonio

by Alex Tostado

Live Oak, Texas — Tryperion Partners has sold Gateway Plaza, a 136,553-square-foot retail center in Live Oak, 17 miles northeast of downtown San Antonio. The Burlington-anchored property was 98 percent leased at the time of the sale to tenants including Goodwill, Laser Legend, Furniture Now, James Avery Craftsman and Great Clips. Nooner Holdings purchased the asset, which was built in 2008 and sits on 13.7 acres. John Taylor, Drew Fuller, Josh Villarreal and Kyle Shaffer of HFF represented the seller in the transaction.

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CaliforniaInvestment salesNewsRestaurants

Hanley Investment Group Arranges $3.5 Million Sale of Raising Cane’s Location in Southern California

by Alex Tostado

Fontana, Calif. — Hanley Investment Group has arranged the $3.5 million sale of a single-tenant building situated within a Sprouts Farmers Market-anchored retail center in Fontana, California. The 3,233-square-foot property is fully leased to a Raising Cane’s Chicken Fingers restaurant, which opened in February. Other tenants at Highland Village shopping center include Jack in the Box, Burgerim, Jersey Mike’s, Oggi’s Restaurant, Mountain View Tires, Pacific Dental and Quick Quack Car Wash. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments Inc., in the transaction. …

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Investment salesNew YorkNewsRetailers

Cushman & Wakefield Arranges $2 Million Sale of Retail Property in Queens

by Alex Tostado

New York City — Cushman & Wakefield has arranged the $2 million sale of a retail property in Astoria, Queens. Located at 31-79 Steinway St., the 2,250-square-foot property is a single-story retail building with a full basement. The property offers an additional 4,500 square feet of air rights for future development. Stephen Preuss and Andreas Efthymiou of Cushman & Wakefield represented the seller, Steinway Sports & Recreation Center Inc., in the transaction. The buyer was ABS Partners Real Estate, a locally based investment firm.

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Investment salesNewsRetailersTexas

Cushman & Wakefield Arranges Sale of 79,739-Square-Foot Shopping Center in Metro Dallas

by Alex Tostado

Plano, Texas — Cushman & Wakefield has arranged the sale of Preston Creek Shopping Center, a 79,730-square-foot shopping center in Plano. The property, which is located 25 miles north of downtown Dallas, was built in 2006 by the seller, ASG Realty. Tenants of the unanchored shopping center include Pei Wei Asian Diner, Modern Market, Cowboy Chicken, Cristina’s Fine Mexican Restaurant, Turkish Café and II Brothers Grill & Bar. Chris Harden, Kris Von Hohn and Ryan Duffie of Cushman & Wakefield and Samer Keilani and James Hankins of ACR Realty represented the …

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