Investment sales

CIM Sells The Family Center Retail Asset in Utah to CCA Acquisition Co. for $48.2 Million

by Alex Tostado March 22, 2019

Riverdale, Utah — CIM has completed the disposition of The Family Center at Riverdale, a 427,828-square-foot shopping center located on 42 acres at 1083 W. Riverdale Road in Riverdale, Utah, 35 miles from downtown Salt Lake City. CCA Acquisition Co. acquired the property for $48.2 million. At the time of sale, the center was 97 percent occupied by Target (165,550 square feet), Sportsman’s Warehouse, Best Buy, Pier 1 Imports, Show Carnival, PetSmart, Dollar Tree and Joann Fabrics. The retail center was built in phases from 1995 to 2008. Pete Bethea, …

March 22, 2019

California Grocery-anchored Investment sales News

SRS Arranges $5.3 Million Sale of Grocery Outlet Bargain Market

by Alex Tostado March 22, 2019

Riverside, Calif. — SRS Real Estate Partners’ National Net Lease Group has arranged the sale of a freestanding, single-tenant property located on 1.9 acres at 3490 Madison St. in Riverside, California. A Newport Beach, California-based private developer sold the property to a Newport Beach-based physician for $5.3 million. Grocery Outlet Bargain Market occupies the 17,889-square-foot retail property on a 15-year triple-net lease. Patrick Luther and Matthew Mousavi of SRS Real Estate Partners represented the seller, while Marcus & Millichap represented the buyer. Additionally, Garrett Colburn and Townsend Cropsey of SRS …

March 22, 2019

Investment sales Nevada News Retailers

Marcus & Millichap Negotiates $5.2 Million Sale of 10,500-Square-Foot Retail Building in Las Vegas

by Alex Tostado March 22, 2019

Las Vegas — Marcus & Millichap has arranged the sale of Mountain’s Edge Pad E, a retail property in Las Vegas. An undisclosed seller sold the property for $5.2 million. Located at 8085 Blue Diamond Road, the property features 10,500 square feet of retail space. Dustin Alvino and Jake Wasserkrug of Marcus & Millichap represented the seller and undisclosed buyer in the deal.

March 22, 2019

Arizona Investment sales News Retailers

Valencia Property Acquires CVS-Occupied Property in Arizona for $4.5 Million

by Alex Tostado March 22, 2019

Prescott, Ariz. — Valencia Properties has purchased a freestanding, single-tenant property located at 901 Willow Lake Road in Prescott, Arizona. A Southern California-based private investor sold the building for $4.5 million in an all-cash transaction. CVS/pharmacy occupies the 13,186-square-foot drive-thru property, which was built in 2015. The absolute triple-net leased asset is corporate guaranteed by CVS Health Corp. with 22 years remaining. Patrick Luther and Matthew Mousavi of SRS Real Estate Partners’ National Net Lease Group represented the seller, while Gulf Stream Capital Ventures represented the buyer.

March 22, 2019

Illinois Investment sales News Retailers

SVN | Chicago Commercial Negotiates $4.4 Million Sale of Retail Center in Arlington Heights, Illinois

by Alex Tostado March 22, 2019

Arlington Heights, Ill. — SVN | Chicago Commercial has arranged the sale of The Esplanade at Arlington Heights for $4.4 million. The 18,419-square-foot retail property is located at 2920-2964 W. Euclid Ave. in Arlington Heights, Illinois. Subway and Starbucks Coffee are the anchor tenants. Tim Franz and John Livaditis of SVN represented the seller, a private real estate investment group. The buyer was not disclosed.

March 22, 2019

Investment sales New Jersey News Retailers

Marcus & Millichap Negotiates $11.7 Million Sale of Shopping Center in New Jersey

by Alex Tostado March 20, 2019

Manalapan, N.J. — Marcus & Millichap has negotiated the $11.7 million sale of Tennent 9 Shopping Center in Manalapan, New Jersey. Located at 700 Tennent Road, the 60,000-square-foot center is anchored by NetCost Supermarkets, a European specialty supermarket. The remaining 10 units are leased to a mix of local and regional tenants, along with a Rite-Aid pharmacy. Alan Cafiero and Ben Sgambati of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private investor.

March 20, 2019

California Investment sales News Retailers

Progressive Real Estate Arranges $3.5 Million Sale of Shops at Ramona Expressway in Southern California

by Alex Tostado March 20, 2019

Perris, Calif. — Progressive Real Estate Partners has arranged the sale of Shops at Ramona Expressway in Perris, California. A Riverside, California-based private investor sold the asset to a Monterey Park, California-based private investor for $3.5 million. Built in 2007 and located at 780 Ramona Expressway, Shops at Ramona Expressway features 9,808 square feet of retail space. At the time of sale, the property was fully occupied. Greg Bedell of Progressive Real Estate Partners represented the seller, while Shane Delaney of Real Estate eBroker Group represented the buyer in the …

March 20, 2019

Investment sales Mixed-use New York News

JLL Arranges $19 Million Acquisition Loan for Mixed-Use Property in Manhattan

by Alex Tostado March 19, 2019

New York City — JLL has arranged a $19 million acquisition loan for a mixed-use property in New York City’s SoHo neighborhood of Manhattan. Located at 489 Broadway, the five-story, 10,710-square-foot building was constructed in 1900. The property consists of eight residential and three retail units. Eliott Zeitoune, Michael Diaz, Aaron Appel, David Sitt and Brendan Collins of JLL secured financing on behalf of the borrower, Sherr Equities, through lender Morgan Stanley. Sherr Equities specializes in acquiring mixed-use assets with the intent to restore and redevelop them.

March 19, 2019

Investment sales New York News Retailers

Cushman & Wakefield Negotiates $4.7 Million Sale of Retail Unit in Manhattan

by Alex Tostado March 19, 2019

New York City — Cushman & Wakefield has negotiated the $4.7 million sale of a retail co-op unit in New York City’s SoHo neighborhood of Manhattan. Located at 150 Thompson St., the 7,800-square-foot property consists of the ground floor and basement of the five-story, mixed-use co-op. Robert Burton and Bobby Carrozzo of Cushman & Wakefield represented the seller, Schiffini USA, in the transaction. The buyer was home furnishings company Safavieh.

March 19, 2019