Investment sales

GeorgiaInvestment salesNewsRetailers

Cole Credit Property Trust Sells 62,719-Square-Foot LA Fitness-Anchored Retail Center in Metro Atlanta

by Alex Tostado

Douglasville, Ga. — Cole Credit Property Trust IV Inc. has sold Village at Chapel Hill, a 62,719-square-foot, LA Fitness-anchored retail center in Douglasville, Georgia, 20 miles west of downtown Atlanta. The center was built in 2009 and was 97 percent leased at the time of the sale. The property is shadow-anchored by ALDI and includes other tenants such as Yogli Mogli, One Main Financial, Chapel Hill Dentistry and Blue Agave Mexican Restaurant. Jim Hamilton, Brad Buchanan, Mike Allison and Andrew Kahn of HFF represented the seller in the transaction. LBX …

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Investment salesNewsRestaurantsWisconsin

Quantum Arranges $2.8 Million Sale of Popeyes-Occupied Property in Fitchburg, Wisconsin

by Alex Tostado

Fitchburg, Wis. — Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of a Popeyes-occupied property in Fitchburg, Wisconsin, just south of Madison. The 4,442-square-foot building is located at 2844 Fish Hatchery Road. Popeyes has approximately 20 years left on its lease. Chad Firsel and Zack Hilgendorf of Quantum negotiated the transaction. A private buyer based in Seattle purchased the property from a Chicago-based developer.

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FloridaInvestment salesMixed-useNewsRetailers

Mast Capital Acquires Mixed-Use Shopping Center in South Florida for $43 Million

by Alex Tostado

Fort Lauderdale, Fla. — Mast Capital has acquired The Quay, a 73,000-square-foot mixed-use shopping center in Fort Lauderdale, Florida. The Quay sits on seven acres along South 17th Street near the Stranahan River, three miles south of downtown Fort Lauderdale. The property was fully leased at the time of the sale to tenants including Boatyard Restaurant, the United States Postal Service and Chipotle Mexican Grill. The property also includes a two-story office building and Boathouse of Fort Lauderdale marina. Hudson Capital Group Inc. sold The Quay. CIT Bank provided acquisition …

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GeorgiaInvestment salesNewsRetailers

Cushman & Wakefield Arranges Sale of 199,594-Square-Foot Retail Center in Metro Atlanta

by Alex Tostado

Suwanee, Ga. — Cushman & Wakefield has arranged the sale of Brookwood Marketplace, a 199,594-square-foot retail center in Suwanee, Georgia, shadow-anchored by Super Target. The property is located at 2615-2635 Peachtree Parkway, 34 miles north of downtown Atlanta in Gwinnett County. Brookwood Marketplace was 98 percent leased at the time of the sale to tenants including The Home Depot, Bed Bath & Beyond and OfficeMax. Fain Hicks and Mark Gilbert of Cushman & Wakefield represented the seller, Weingarten Realty, in the transaction. A private individual acquired the center for an …

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CaliforniaInvestment salesNewsRetailers

Marcus & Millichap Arranges Sale of Two Multi-Tenant Retail Pads in Rialto, California

by Alex Tostado

Rialto, Calif. — Marcus & Millichap has negotiated the sale of two multi-tenant retail pads at Rialto Marketplace, located at 1276 Riverside Ave. in Rialto. Scott Hook of Marcus & Millichap arranged the sale. Terms of the transaction were not released. Recently developed by Newmark Merrill Cos., the buildings total 25,567 square feet. Tenants include Starbucks Coffee, GNC, Wingstop, Pieology Pizzeria and T-Mobile. Walmart Supercenter is the anchor tenant for Rialto Marketplace.

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GeorgiaGrocery-anchoredInvestment salesNewsNorth Carolina

Branch Properties Acquires Two Grocery-Anchored Shopping Centers for $57 Million

by Alex Tostado

Roswell, Ga. and Leland, N.C. — Branch Properties has acquired two grocery-anchored shopping centers in the Southeast. The first, Roswell Market Place, is a 95,522-square-foot shopping center anchored by Sprouts Farmers Market. Branch Properties bought the asset for $32 million. The center, which is located at 10800 Alpharetta Highway, 24 miles north of downtown Atlanta, was built in 1986 and renovated two years ago. Roswell Market Place was 88 percent leased at the time of the sale. The second property is Waterford Village, a 108,249-square-foot shopping center anchored by Harris …

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Investment salesNet leaseNewsOhioRetailers

Marcus & Millichap Arranges $2.7 Million Sale of Net-Leased Walgreens Property in Ohio

by Alex Tostado

Delaware, Ohio — Marcus & Millichap has arranged the sale of a 14,490-square-foot property net leased to Walgreens for $2.7 million. The building is situated on 1.7 acres at 19 London Road in Delaware, Ohio, about 30 miles north of Columbus. The property was built in 2001. Walgreens recently extended its lease through 2026. Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Brandon Hanna of Encore Real Estate Investment Services secured and represented the buyer, a private investor.

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Investment salesNew YorkNewsRetailers

Rafinia Property Group Orchestrates $2.2 Million Sale of Retail Strip in Upstate New York

by Alex Tostado

Ogdensburg, N.Y. — Rafinia Property Group has arranged the $2.2 million sale of Seaway Shopping Center, a 102,796-square-foot retail strip in Ogdensburg, New York. The single-story strip center is configured to fit 15 retail spaces and is occupied by Save-A-Lot food stores, Peebles, Family Dollar and a mix of local and regional tenants. The property was constructed in 1960 and significantly upgraded in 2018. Evan Rafinia of Rafinia Property Group represented the undisclosed seller in the transaction. The buyer was a private investor based in New York City.

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Investment salesMontanaNewsRetailers

SSG Realty Partners Arranges Sale of Westwood Plaza Shopping Center in Montana

by Alex Tostado

Great Falls, Mont. — SSG Realty Partners has arranged the sale of Westwood Plaza, a retail center located along the Northwest Bypass in Great Falls, Montana, for an undisclosed price. Originally developed as a Pay ‘N Save and Ernst Home Center, the 70,000-square-foot shopping center was renovated in recent years. The current tenant mix includes Ulta Beauty and T.J. Maxx. Greg Swedelson and Jon Eric Greene of SSG Realty Partners represented the seller and undisclosed buyer in the deal.

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Investment salesMallsNewsNorth Carolina

Tanger Outlets Sells Four Outlet Malls to Singerman Real Estate, The Outlet Resource Group for $130.5 Million

by Alex Tostado

Greensboro, N.C. — Tanger Factory Outlets Center Inc. (NYSE: SKT) has sold four non-core outlet malls to a joint venture between Singerman Real Estate and The Outlet Resource Group for $130.5 million. The four centers are located in Nags Head, North Carolina; Ocean City, Maryland; Park City, Utah; and Williamsburg, Iowa. The four properties were 95.8 percent occupied at the time of the sale. Greensboro, North Carolina-based Tanger Outlets expects to use $128.7 million of the proceeds to pay off existing debt. Tanger operates 40 outlet malls across 20 states …

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