Investment sales

Alpharetta, Ga. — Marcus & Millichap has brokered the $6.3 million sale of Deerfield Village, a 16,500-square-foot retail center located in the Atlanta suburb of Alpharetta. Tenants at the property, which was fully leased at the time of sale, include Ichiban and Nahm. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller in the transaction. 

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Park Plaza

Winter Park, Fla. — Benderson Development has acquired Park Plaza, a 25,000-square-foot mixed-use property located in University Park, approximately six miles outside Orlando. The building features a 28-room boutique hotel as well as retail space. Benderson also recently acquired the Cypress Trace and Carillon Place shopping centers in Fort Myers and Naples.

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Cypress-Trace_Fort-Myers-Fla

Fort Myers, Fla. — Benderson Development has acquired Cypress Trace, a 280,000-square-foot retail center located in Fort Myers. Winn-Dixie anchors the property, which spans 29 acres. Other tenants at the center include Five Below, Burlington and Ross Dress for Less. Benderson’s other recent acquisitions in the state include Carillon Place in Naples, North River Marketplace in Venice, Glengary Shoppes in Sarasota and Linton Commons in Delray Beach. 

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Keizer-Village-Shopping-Center_Keizer-Ore

Keizer, Ore. — Hanley Investment Group Real Estate Advisors has brokered the $13 million sale of Keizer Village Shopping Center in Keizer, roughly 45 miles southwest of Portland. Physiq Fitness and The Thrift Store anchor the property, which totals 76,785 square feet. The center, which was built in 1962 and renovated in 2004, was 99 percent occupied at the time of sale by tenants including Little Caesar’s Pizza, Metro by T-Mobile, Subway and US Market. Kevin Fryman of Hanley, in association with ParaSell Inc., represented the seller — Cumberland Holdings LLC …

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Shops-at-Grove_Edmond-Okla

Edmond, Okla. — CBRE has arranged the sale of Shops at Grove, a 16,400-square-foot shopping center located in Edmond. Tenants at the center, which was 92 percent occupied at the time of sale, include AT&T, Qdoba, Great Clips, Inaka Sushi, Sun Lounge and Bloom Beauty Nail and Spa. An entity doing business as HD Investments LLC acquired the property from an entity doing business as South Hampton Center LLC for an undisclosed price. Michael Austry, Jared Aubrey, Stuart Graham and Mark Inman of CBRE represented the seller in the transaction. 

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Trails-620_Austin-Texas

Austin, Texas — Partners Capital has sold Trails at 620, a retail property totaling 69,037 square feet across seven buildings in Austin. Shea Petrick and Chris Gerard of JLL represented Partners, which acquired the property in October 2020,  in the disposition. Trails at 620 was the last property remaining in Partners’ Fund III. 

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Price-Chopper-Plaza-Binghamton

Binghamton, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14 million sale of Price Chopper Plaza, a 127,000-square-foot shopping center located in the upstate New York community of Binghamton. Regional grocer Price Chopper has been the anchor tenant at the center, which was 97 percent leased at the time of sale, since 1987. Other tenants include Planet Fitness, Big Lots and Dollar Tree. Jim Koury of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Duluth, Ga. — Gwinnett County’s Urban Redevelopment Agency has acquired Macy’s department and furniture stores totaling 293,059 square feet at Gwinnett Place Mall, a beleaguered regional shopping mall in the northeast Atlanta suburb of Duluth. With this 23-acre acquisition, the county — which initially purchased a 39-acre portion of the Gwinnett Place Mall site in 2021 — will own a total 76 acres at the site. Gwinnett County’s Urban Redevelopment Agency purchased the two Macy’s stores in a $16.5 million sale-leaseback transaction, and Macy’s will continue to operate at the property …

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Orchard-Corners_Shenandoah-Iowa

Shenandoah, Iowa — Cleeman Realty Group has arranged the sale of Orchard Corners, a 50,000-square-foot shopping center located in Shenandoah. Hy-Vee anchors the property, which was 87 percent occupied at the time of sale. Other tenants at the center include Scooter’s Coffee and McDonald’s. Jeremy Scheer of Cleeman represented both the buyer and seller in the transaction. 

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Arbutus-Shopping-Center_Arbutus-Md

Arbutus, Md. — KLNB has brokered the $16.7 million sale of Arbutus Shopping Center in Arbutus, roughly 10 miles outside Baltimore. Weis Markets anchors the property, which totals 87,939 square feet and was 95 percent occupied at the time of sale. Other tenants at the center include Walgreens, Advance Auto Parts, Dollar Tree and Truist Bank. Meir Duke of Duke Arbutus acquired Arbutus Shopping Center from AmCap Inc., which acquired the property in 1981.  Chris Burnham and Vito Lupo of KLNB represented the seller in the transaction, and MFI Realty represented the …

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