Investment sales

FloridaInvestment salesNewsRetailers

Marcus & Millichap Arranges $14.2 Million Sale of Retail Center in Southwest Florida

by Alex Tostado

Bonita Springs, Fla. — Marcus & Millichap has arranged the $14.2 million sale of North Bay Village, a 114,545-square-foot retail property in Bonita Springs. North Bay Village was 73 percent occupied at the time of the sale, and the buyer, a private investor through a 1031 exchange, signed long-term leases with Hertz, Emaint and Keller Williams Real Estate to bring the asset to 98 percent occupancy. Other tenants include Bonefish Grill, Mattress Firm and Edible Arrangements. Jim Shiebler, James Garner and James Medefind of Marcus & Millichap represented the seller, …

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CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Negotiates $5.6 Million Sale of Two Retail Pads in Ontario, California

by Alex Tostado

Ontario, Calif. — Hanley Investment Group Real Estate has arranged the sale of two retail pad buildings, totaling 21,591 square feet in Ontario, in two separate transactions totaling $5.6 million. The properties are part of a Walgreens-anchored neighborhood center, which was built in 2007. Kevin Fryman of Hanley Investment Group represented the seller, an Ontario-based private developer, in both transactions. In the first deal, a Southern California-based private investor acquired a two-tenant, 13,381-square-foot building, situated on 1.3 acres at 2645 E. Riverside Drive, for $3.2 million. A 7,200-square-foot O’Reilly Auto …

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Investment salesNewsOhioRetailers

Cooper Group Arranges $2.7 Million Sale of Retail Center Near Columbus, Ohio

by Alex Tostado

Johnstown, Ohio — Cooper Commercial Investment Group has arranged the sale of Kyber Run in Johnstown near Columbus for $2.7 million. The 15,292-square-foot retail center is home to five tenants and is shadow-anchored by Kroger. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, an East Coast-based private investment group. The sales price represents a cap rate of 7.95 percent.

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Investment salesNewsRetailersTexas

Baceline Investments Acquires Austin Shopping Center for $4.2 Million

by Alex Tostado

Austin, Texas — Baceline Investments LLC, a Denver-based boutique real estate investment firm, has acquired Dakota Plaza, a 21,700-square-foot retail center in Austin, for $4.2 million. The property, which was built in 2006 and is located at 8516 Anderson Mill Road, was acquired in conjunction with shopping centers in Milwaukee, Louisville, Kentucky; and Maybrook, Illinois.

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Investment salesMinnesotaNewsRetailers

Kraus-Anderson Purchases 324,430-Square-Foot Retail Center in St. Paul, Minnesota

by Alex Tostado

St. Paul, Minn. — Kraus-Anderson Realty has purchased Midway Marketplace in St. Paul for an undisclosed price. Built in 1994, the 324,430-square-foot retail center includes anchor tenants Cub Foods, Walmart, TJ Maxx, LA Fitness and Dollar Tree. Other tenants at the property include Sprint, Leann Chin, The UPS Store, Mother Nature’s Vitamins and Midway Tobacco & Cigar Place. Beachwood, Ohio-based RVI sold the asset.

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Investment salesMarylandNewsRetailers

Matan Cos. Sells Retail Center in Frederick, Maryland, for $8.9 Million

by Alex Tostado

Frederick, Md. — Matan Cos. has sold The Shops at Westview South, a 21,138-square-foot retail center in Frederick, for $8.9 million. The property, which is located 44 miles north of Washington, D.C., was 90 percent leased at the time of the sale to tenants such as Dunkin’ Donuts, Sola Salon, Chaps BBQ, Dogtopia, Club Pilates and Monocacy River Dental. Matan Cos. delivered The Shops at Westview South in spring 2016 as part of the 100-acre Westview South development. The mixed-use project includes a planned 490 single-family homes, 100 of which …

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Investment salesMissouriNewsRetailers

Berengaria Acquires 226,000-Square-Foot Power Center in St. Joseph, Missouri

by Alex Tostado

St. Joseph, Mo. — Berengaria has acquired The Shoppes at North Village, a 226,000-square-foot retail power center in St. Joseph, about 55 miles north of Kansas City. The purchase price was not disclosed. The 98 percent-leased property is home to 25 tenants, including T.J. Maxx, Best Buy, Michaels, Old Navy and Regal Cinema’s Hollywood Theaters. Berengaria partnered with the Africk Family Office on the transaction. This is the third asset the two groups have purchased together. Berengaria is the real estate platform of Marcus Investments.

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CaliforniaInvestment salesNewsRetailers

SRS Directs $14.9 Million Sale of Shopping Center in Cypress

by Alex Tostado

Cypress, Calif. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of Cypress Village Shopping Center, a three-building retail asset located at 9515-9575 Valley View St. in Cypress. A Southern California-based private investor acquired the property from Cypress Village Partners LLC for $14.9 million, or $910 per square foot. Situated on 2.4 acres, a variety of restaurants and retailers occupy the 16,433-square-foot property. Current tenants include Pieology Pizzeria, 85°C Bakery Café, Burger Boss, WaBa Grill, Urban Cup and Churned Creamery. Rich Walter, Pat Kent and Parker Walter …

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Investment salesMissouriNewsRetailers

QuikTrip Purchases Site for New Location in North Kansas City

by Alex Tostado

North Kansas City, Mo. — QuikTrip Corp. has purchased 2.9 acres at the southwest corner of Interstate 35 and Amour Road in North Kansas City. QuikTrip plans to build a new facility at 1401 Armour Road to replace its existing store at 1010 Armour Road. Construction on the new location will begin soon and is a redevelopment of an old office building. David Block and Jody Minder of Block & Co. Inc. Realtors arranged the transaction.

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CaliforniaGrocery-anchoredInvestment salesNews

Hanley Investment Group Negotiates $29.5 Million Sale of ALDI-Anchored Shopping Center in Metro Los Angeles

by Alex Tostado

South Gate, Calif. — Hanley Investment Group has negotiated the $29.5 million sale of The Crossroads at Firestone, a 53,262-square-foot, ALDI-anchored shopping center in South Gate. The property is located on six acres at 5802-5840 Firestone Blvd., 11 miles south of downtown Los Angeles. The Crossroads was built in in 2017 and was fully occupied at the time of the sale to tenants including ALDI, AT&T, Bank of America, The Buffalo Spot, Burgerim, Churroholic, Fast 5 Express Car Wash, Flame Broiler, Hiccups Restaurants Tea House, Jersey Mike’s Subs, La Michoacana …

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