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Investment sales

Outlet-Collection-Seattle_Auburn-Wash
GeorgiaInvestment salesNewsWashington

Lightstone Acquires Outlet Collection Seattle for $82 Million

by Hayden Spiess

Auburn, Wash. — Lightstone has acquired The Outlet Collection Seattle, an enclosed mall located in Auburn, roughly 30 miles south of Seattle. Tenants at the property, which totals 920,000 square feet, include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta Beauty, Coach, Nike, Adidas and Michael Kors. The mall was 98 percent occupied at the time of acquisition. Lightstone plans to implement $10 million of capital improvements and tenancy upgrades. Nicholas King, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors will manage outlet …

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North-Point-Village_Alpharetta
GeorgiaInvestment salesNews

Coro Realty Sells Shopping Center in Metro Atlanta for $19 Million

by Hayden Spiess

Alpharetta, Ga. — Coro Realty Advisors has sold North Point Village, a 57,219-square-foot shopping center located in the northern Atlanta suburb of Alpharetta. Mimms Enterprises purchased the property for $19 million. Fred Victor of Atlantic Retail brokered the transaction. Tenants at the center, which is situated on 5.2 acres adjacent to North Point Mall, include Talbots, Kohler and Learning Express.

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Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 21,298-Square-Foot Retail Center in Metro Dallas

by Hayden Spiess

Lewisville, Texas — Marcus & Millichap has brokered the sale of Lake Vista Center, a 21,298-square-foot retail center located in Lewisville, roughly 25 miles northwest of Dallas. Built in 2007, the property comprises two buildings, Tenants at the center include Lucky Smiles, Lewisville Salon Suites and Spa, USCR Taekwondo, Tiff’s Treats, 4Thirteen Kitchen and Sports Bar and Lucky Smoke Shop. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller in the transaction. 

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Shoppes-at-English-Village_North-Wales-Pa
Grocery-anchoredInvestment salesNewsPennsylvania

CBRE Arranges Sale of 103,325-Square-Foot Retail Center Near Philadelphia

by Hayden Spiess

North Wales, Pa. — CBRE has arranged the sale of The Shoppes at English Village, a 103,325-square-foot retail center located in North Wales, approximately 25 miles outside Philadelphia. Trader Joe’s anchors the property, which was 95 percent leased at the time of sale. Other tenants at the center include LensCrafters, Athleta, CycleBar, Hallmark, Chopt and Talbots. Nuveen Real Estate acquired the property from Met Life Investment Management for an undisclosed price. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, RJ Mirabile and Michael Pascavis of CBRE represented the seller in …

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Volusia-Square_Daytona-Beach-Fla
FloridaInvestment salesNews

Colliers Brokers $26.4 Million Sale of Shopping Center in Daytona Beach, Florida

by Hayden Spiess

Daytona Beach, Fla. — Colliers has brokered the $26.4 million sale of Volusia Square, a shopping center located in Daytona Beach. Tenants at the property, which was 97.2 percent leased at the time of sale, include Urban Air Adventure Park, Amped Fitness, Ollie’s Bargain Outlet and Restaurant Depot Express. The sale also included three outparcels occupied Buffalo Wild Wings, Arby’s and a multi-tenant building leased to Lenscrafters and CAVA. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, Lamar Cos., in the transaction. Mosaic Realty Partners was the buyer. 

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IllinoisInvestment salesNews

Timber Development Co. Acquires Belleville Crossings in Illinois for $6.5 Million

by Hayden Spiess

Belleville, Ill. — Timber Development Co. has acquired Belleville Crossings, a retail center located in Belleville, for $6.5 million. Target, The Home Depot and PetSmart anchor the property, which totals 325,000 square feet and was 60 percent leased at the time of acquisition. Other tenants at the center include Dollar Tree, Maurices, Hibbits Sporting Goods and Famous Footwear. Michael Austry of CBRE represented the seller in the transaction. 

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Jersey-Mikes
Company newsInvestment salesNew JerseyNewsRestaurants

Blackstone Agrees to Acquire Majority Ownership Position in Jersey Mike’s Subs

by Hayden Spiess

Manasquan, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and digital transformation. New …

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Grocery-anchoredInvestment salesMississippiNews

JLL Arranges Sale of 69,448-Square-Foot Retail Center in Tupelo, Mississippi

by Hayden Spiess

Tupelo, Miss. — JLL Capital Markets has arranged the sale of Thompson Square, a 69,448-square-foot retail center located in Tupelo. Mishra Group acquired the property from Midland Atlantic Properties for an undisclosed price. The center was fully leased at the time of sale to tenants including Kroger, Enterprise, Buff City Soap, Republic Finance, Allstate and Chik-fil-A.  Brad Buchanan, Jim Hamilton and Anton Serafini of JLL represented the seller in the transaction. 

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Huntington Oaks Center
CaliforniaGrocery-anchoredInvestment salesNews

Hanley Arranges Sale of 250,787-Square-Foot Shopping Center in Southern California

by Hayden Spiess

Monrovia, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Huntington Oaks Center, a 250,787-square-foot shopping center located in Monrovia, approximately 20 miles outside Los Angeles. Built in 1984, the property was 75 percent occupied at the time of sale. Tenants at the center include Trader Joe’s, Burlington, Marshalls, Crunch Fitness, Chili’s Grill & Bar, Mimi’s Café, Chipotle Mexican Grill and Panda Express. A Kohl’s is also located at the property but was not included in the sale. Hanley represented the seller in the transaction.

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Lowes
FloridaInvestment salesNews

SRS Brokers $14.3 Million Sale of Retail Property in Metro Tampa 

by Hayden Spiess

Odessa, Fla. — SRS Real Estate Partners has brokered the $14.3 million sale of a newly built freestanding retail property in Odessa, a suburb of Tampa. Lowe’s Home Improvement occupies the 137,554-square-foot property on a 20-year absolute net ground lease. Matthew Mousavi and Patrick Luther of SRS represented the California-based buyer in the all-cash transaction. Patrick Wagor of Atlantic Capital Partners represented the seller, a privately held development firm. 

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