Investment sales

Bloomington Commons
Grocery-anchoredIllinoisInvestment salesNews

Marcus & Millichap Brokers $13.4 Million Sale of Shopping Center in Bloomington, Illinois

by Abby Cox

Bloomington, Ill. — Marcus & Millichap has brokered the $13.4 million sale of Bloomington Commons, a grocery-anchored shopping center located in Bloomington. The 15-tenant property, which totals 132,966 square feet, is anchored by Schnucks. Other tenants include Barnes & Noble, The UPS Store, Kumon Math & Reading Center, Chuck E. Cheese and H&R Block. Schnucks, an anchor tenant since 1989, recently renewed its lease for 10 years. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local developer that sold the property after an eight-year hold …

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Davie Plaza
FloridaInvestment salesNews

22,517-Square-Foot Retail Center Near Fort Lauderdale Sells for $6.9 Million

by Abby Cox

Davie, Fla. — Davie Plaza Group LLC has sold Davie Plaza, a 22,517-square-foot retail strip center located in the Fort Lauderdale suburb of Davie, for $6.9 million. The property was 96 percent leased at the time of sale and features a mix of tenants including a Subway, nail salon and law office. Originally built in 1970, the retail center is situated on 2 acres, according to LoopNet Inc. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller, a local South Florida investor doing business as Davie Plaza …

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Market Mountain House
CaliforniaInvestment salesNews

Brixton Capital Acquires The Market Mountain House for $32 Million

by Abby Cox

Mountain House, Calif. — Brixton Capital has acquired The Market Mountain House, an 88,872-square-foot neighborhood shopping center located within the master planned community of Mountain House, for $32 million. Situated roughly 50 miles east of San Francisco in San Joaquin County, The Market Mountain House features five buildings and was fully leased at the time of sale. Safeway anchors the property, which features a mix of additional tenants including Starbucks Coffee, The UPS Store, Great Clips, Häagen-Dazs, AappaKadai, Mountain Mike’s Pizza and Sourdough & Co. Shea Properties developed The Market Mountain House …

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ColoradoInvestment salesNews

MMCC Arranges $16.5 Million in Financing for Willow Creek Shopping Center Near Denver

by Abby Cox

Centennial, Colo. — Marcus & Millichap Capital Corp. (MMCC) has arranged $16.5 million in financing for Willow Creek Shopping Center, a 163,000-square-foot shopping center located in Centennial, a suburb of Denver. VASA Fitness and arc Thrift Stores anchors the property, which is fully leased. Other tenants include CorePower Yoga and Perfect Teeth. Rob Cronenberg of MMCC’s Denver office secured the financing on behalf of an undisclosed national investment firm.

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FloridaInvestment salesNews

SRS Real Estate Brokers $7.3 Million Sale of a Multi-Tenant Retail Property in St. Petersburg, Florida

by Abby Cox

St. Petersburg, Fla. — SRS Real Estate Partners has brokered the $7.3 million sale of a two-parcel, multi-tenant retail strip center located at 730 4th St. N. in St. Petersburg. Built in 2009, the property totals 10,802 square feet and was fully leased to a mix of tenants including Foxtail Coffee, The UPS Store, Jimmy John’s, Chipotle Mexican Grill and Verizon Wireless at the time of sale. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, a Tampa-based investment group, in the transaction. The buyer was a national …

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The Learning Experience
IdahoInvestment salesNews

Faris Lee Investments Negotiates $6.2 Million Sale of Single-Tenant Retail Property in Metro Boise

by Abby Cox

Meridian, Idaho — Faris Lee Investments has negotiated the $6.2 million sale of a newly constructed, single-tenant retail property located in Meridian, roughly 11 miles west of Boise. The Learning Experience, an early childhood education and childcare center, occupies the 10,000-square-foot building on a 15-year absolute triple-net lease with 8 percent rent increases every five years. Jeff Conover, Scott DeYoung, and Greg Lukosky of Faris Lee represented the seller, a Seattle-based developer. Tidemark Real Estate Services represented the buyer.

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Investment salesNewsTexas

Meto Real Estate Buys Sedona Lakes Plaza in Metro Houston

by Abby Cox

Manvel, Texas — Meto Real Estate LLC, a first-time buyer based in Dallas, has acquired Sedona Lakes Plaza, a 14,803-square-foot shopping center located in Manvel, roughly 20 miles south of downtown Houston. The center was fully leased to five tenants at the time of sale, including HOTWORX, Smart Core Labs and Behavioral Innovations. Riley Sharman of Northmarq represented the seller, an entity doing business as 10309 Bailey LLC, in the transaction.

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Ridge Park Square
Grocery-anchoredInvestment salesNewsOhio

JLL Arranges Sale of 386,754-Square-Foot Ridge Park Square in Suburban Cleveland

by Abby Cox

Brooklyn, Ohio — JLL Capital Markets has arranged the sale of Ridge Park Square, a 386,754-square-foot dual grocery-anchored shopping center located in Brooklyn, approximately six miles southwest of downtown Cleveland. Michael Nieder, Brian Page and Mohsin Mirza of JLL’s Investment Sales and Advisory team represented the seller, an affiliate of Zeisler Morgan Properties. The buyer was Atlanta-based RCG Ventures. Completed in 1989, Ridge Park Square was 95 percent leased at the time of sale. Marc’s and Grocery Outlet anchor the retail center, which features a mix of additional tenants such …

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Avenue Plaza
Investment salesNew YorkNews

CBRE Brokers Sale of 183,397-Square-Foot Avenue Plaza in Central New York

by Abby Cox

New Hartford, N.Y. — CBRE has brokered the sale of Avenue Plaza, a 183,397-square-foot neighborhood shopping center located in New Hartford. Home décor superstore At Home anchors the property. Nearby retailers include Home Depot, Walmart, Lowe’s, Michaels, T.J. Maxx, Burlington and Best Buy. CBRE represented the seller, Englewood Cliffs, New Jersey-based Goodrich Management, and procured the buyer.

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FloridaInvestment salesNews

SRS Real Estate Negotiates $5.6 Million Sale of Beachwalk Shoppes in Metro Jacksonville

by Abby Cox

St. Johns, Fla. — SRS Real Estate Partners has negotiated the $5.6 million sale of Beachwalk Shoppes, an 8,200-square-foot retail strip center located in St. Johns, a suburb of Jacksonville. The newly constructed retail center is part of the larger 1,200-acre mixed-use Beachwalk project currently under development. The property was fully leased at the time of sale to five tenants including Bagels R Us, Goin’ Postal, Fancy Sushi, Deca Dental and Playa Bowls. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, a national development and investment firm, …

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