San Antonio — A joint venture between Headwall Investments and Fifth Corner has acquired Sunset Ridge Shopping Center, a 102,803-square-foot neighborhood center in San Antonio. Tenants include Great Clips, Sola Salons, Boss Bagels, CVS Pharmacy, Orangetheory Fitness, Massage Envy and Baskin Robbins. Originally built in 1951, this transaction marks the first time Sunset Ridge Shopping Center has been sold since 2003. Casey Kopecky of Ironwood Real Estate represented the seller.
Victorville, Calif. — Progressive Real Estate Partners has arranged the $6.1 million sale of Victorville Pavilion, a 11,618-square-foot multi-tenant retail property in Victorville, approximately 35 miles northeast of San Bernardino. Built in 2004, Victorville Pavilion was fully occupied at the time of sale to tenants such as T-Mobile, OneMain Financial, Armed Forces Career Center and Joe Orthodontics. Lance Mordachini of Progressive Real Estate Partners represented the seller, a private investor, while Vince Provenzano and Michael Sikorski of Pacific Coast Commercial represented the buyer, San Diego-based private investor, in the transaction.
Stockton, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $27 million sale of Pacific Town Center, a newly remodeled, 142,957-square-foot shopping center located in Stockton. Smart & Final Extra!, Chuze Fitness and Ross Dress for Less anchor the center, which was fully leased at the time of sale. Additional tenants include Aaron’s, CoinWorks, Concentra Health Services, H&R Block, Panda Express, Subway, Total Wireless and Western Dental. Pacific Town Center was originally built in 2003 on roughly 10 acres. Sean Cox and Kevin Fryman of Hanley represented the seller, …
Conyers, Ga. — JLL Capital Markers has negotiated the $25.4 million sale of Salem Gate Market, a 177,527-square-foot retail center located in Conyers, a southeast suburb of Atlanta in Rockdale County. Brad Buchanan, Jim Hamilton, Andrew Kahn and Anton Serafini of JLL represented the seller, Tri-Land Properties, in the transaction. Gregg Shapiro, Hunter Goldberg and Austin Smith, also of JLL, represented the buyer, Highline Real Estate Capital LLC, in procuring the acquisition loan. Salem Gate Market is fully leased to tenants including Floor & Decor, Academy Sports + Outdoors, Northern Tool …
Placentia, Calif. — SRS Real Estate Partners has arranged the sale of a newly constructed, single-tenant retail property located in Placentia, roughly 35 miles northwest of Los Angeles, for $7.9 million. Chick-Fil-A occupies the 5,525-square-foot, drive-thru building on a new 15-year, triple-net corporate-guaranteed lease. Patrick Luther, Matthew Mousavi and Winston Guest represented the seller, a Southern California-based developer, in the transaction. The buyer was a private investor from Southern California.
Abbeville, La. — The Dowd Cos. has brokered the $4.1 million sale of Lauren Parc Shopping Center, a 34,125-square-foot retail center located in Abbeville, approximately 21 miles southwest of Lafayette. Originally built in 2014, the center was 95 percent leased at the time of sale to nine tenants including Dollar Tree, AT&T and Anytime Fitness. The transaction also includes an additional outparcel. John Dowd and Theresa Johnson of The Dowd Cos. represented the buyer, an out-of-state investor, and the seller, in the transaction.
Bristol, Conn. — Sterling Organization has acquired Bristol Plaza, a 263,829-square-foot grocery-anchored shopping center located in Bristol, approximately 20 miles southwest of Hartford, for $44.4 million. Bristol Plaza was 93.1 percent occupied at the time of sale to tenants including a Stop & Shop supermarket, T.J. Maxx, Burlington, Dollar Tree and Starbucks Coffee. Chris Angelone, Zach Nitsche, Alex Quinn, Sam Wiesman and Henry Schaffer of JLL’s Investment Sales and Advisory team represented the seller, Federal Realty Investment Trust, in the transaction.
Chicago —NewMark Merrill Cos. has acquired Lake Meadows Shopping Center, a 179,106-square-foot retail center in Chicago. Jewel-Osco anchors the center, which was 85 percent leased at the time of sale. Additional tenants include LA Fitness, Foot Locker, CVS Pharmacy and Citi Trends. NewMark Merrill will upgrade the property with new signage, lighting and gathering spaces. The firm also has plans to promote the center’s businesses and operators by hosting events for the neighborhood. Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist, Susan Rorison and Matt Gugliciello internally represented NewMark Merrill in the transaction. …
Houston — ShopOne Centers, along with its joint venture partners Pantheon and a global institutional investor, has acquired Beltway South, a 114,099-square-foot retail property located in Houston. Kroger anchors the center, which features a mix of additional tenants including Petco, Cato Fashions, Subway and State Farm, as well as various local service providers and dining options. This transaction marks ShopOne’s first investment in Texas.
Miami Gardens, Fla. — United Capital has acquired Ives Plaza, a 56,841-square-foot shopping center located in Miami Gardens, approximately 16 miles north of downtown Miami. R&E Trust sold the property for $12 million. David B. Smith of LG Capital Partners, along with Adam Lipkin of United Capital, served as financial advisors on behalf of United Capital. This transaction marks the first time the property has been sold. Developed in 1955 on nearly 6.5 acres, Ives Plaza was 66 percent leased at the time of sale to 15 tenants including Pizza Hut …
