Stuart, Fla. — Conshohocken, Pennsylvania-based CenterSquare has acquired Baron Shoppes, a 16,316-square-foot service retail center located in Stuart, approximately 40 miles north of West Palm Beach. Tenants at the center, which was fully leased at the time of sale, include Carmela Coffee, Firehouse Subs and Jupiter Medical. Baron Shoppes was originally built in 2018 on nearly 7 acres, according to LoopNet Inc. This transaction marks CenterSquare’s 8th acquisition in Florida.
Edgewater, N.J. — JLL has arranged the $53.5 million sale of Edgewater Towne Center, a mixed-use development located in Edgewater, roughly eight miles from New York City. The property comprises 76,414 square feet of retail space and 64 apartment units. The retail portion of Edgewater Towne Center was 98 percent leased at the time of sale and features a mix of tenants including Club Pilates, Amazon One Medical, Bond Vet and Pure Barre. Whole Foods Market anchors the property. Meanwhile, the residential component of the building was 94 percent occupied. …
Savannah, Ga. — Atlantic Capital Partners has sold Twelve Oaks, a 104,915-square-foot neighborhood shopping center located in Savannah, for $35.8 million. The property was 99 percent leased at the time of sale. Publix anchors Twelve Oaks, which has operated at the site since 1992. Additional tenants include Sephora, Cold Stone Creamery, Great Clips, Five Guys Burgers & Fries, LensCrafters and Bonefish Grill. Twelve Oaks was built in 1985 and is situated on approximately 10 acres. Fred Victor of Capital Markets represented both the buyer, Downers Grove, Illinois-based InvenTrust, and the seller, …
Pembroke Pines, Fla. — Galium Capital has sold Palm Square, a 77,621-square-foot retail center in Pembroke Pines, for $25 million. Built in 1987 on 8 acres, Palm Square features a mix of tenants including Dunkin’, Sherwin-Williams, KFC, Goldfish Swim School, Smile Xperts Family Dentistry & Orthodontics, Florida Medical Healthcare, Fordham Fitness and the Atlantic Montessori Charter School. Kirk Olson and Drew Kristol of Marcus & Millichap represented the seller and procured the buyer, an affiliate of JBL Asset Management, in the transaction.
Long Beach, Calif. — CenterCal Properties and DRA Advisors has acquired Long Beach Towne Center, with plans to redevelop the 870,000-square-foot property into a prominent retail and entertainment destination. Redevelopments will include new dining options such as chef-driven restaurants, fast-casual concepts and cafés; new retail brands; outdoor gathering areas with shaded seating, enhanced landscaping, public art and year-round programming; updated entertainment offerings with the addition of boutique fitness, wellness and family-oriented experiences; and renovated signage, lighting, pedestrian pathways and parking areas.
Castle Hayne, N.C. — SRS Real Estate Partners has brokered the $7 million sale of a newly constructed, single-tenant retail property in Castle Hayne, roughly 11 miles north of Wilmington. The 21,930-square-foot building is occupied by Tractor Supply, which had 14 years remaining on its corporate-guaranteed lease at the time of sale. Calvin Short of SRS represented the seller, a Pinehurst, North Carolina-based developer, in the transaction. Pierce Mayson of Matthews Real Estate Investment Services represented the buyer, an unnamed investor based in Conyers, Georgia, that was completing the second leg …
Covington, Va. — Marcus & Millichap has negotiated the $4.4 million sale of a 32,023-square-foot retail center located at 317–339 Thacker Ave. in the Western Virginia city of Covington. The center is shadow anchored by Walmart Supercenter, which has operated at the adjacent site since 2007. Built in 1998 on roughly 4.4 acres, the retail property was 92 percent leased at the time of sale to tenants including Dollar Tree, Cato, Shoe Show and T-Mobile, as well as several restaurants and service-oriented businesses. Zach Taylor and Eric Abbott of Marcus & …
Cleveland, Tenn. — Atlantic Capital Partners, the Capital Markets division of Atlantic Retail, has sold Bradley Place, a 118,082-square-foot power center located in the northeast Chattanooga suburb of Cleveland, for $24.5 million. HomeGoods, T.J. Maxx, PetSmart and Ulta Beauty anchor the property, which was fully leased at the time of sale. A portion of Bradley Square Mall was redeveloped in 2019 to create space to accommodate Bradley Place. Fred Victor, Sam Koonce, Teddy Driscoll and Matt Ericson of Atlantic Capital Partners represented the seller. The buyer was not disclosed.
Lake Charles, La. — Disney Investment Group (DIG) has sold Southgate, a 157,818-square-foot shopping center located in Lake Charles. The center has been anchored by a 37,442-square-foot Market Basket grocery store for nearly 40 years. Additional tenants at the property, which was 90.8 percent leased at the time of sale, include Dollar Tree, Office Depot, Books-A-Million and Oak Street Health. David Disney and Adam Crockett of DIG represented the seller and procured the buyer in the transaction.
Leawood, Kan. — KBS has sold Park Place Village, a 10-building, 484,980-square-foot office and retail property in the Kansas City suburb of Leawood. DFW Land was the buyer. Park Place Village was owned by KBS Real Estate Investment Trust III and purchased in 2015. Developed in phases between 2007 and 2013, the property features retail including boutique shops and upscale restaurants. The property was also fully leased at the time of sale. Derek Fohl and Gary Carr of Newmark represented KBS in the sale. Additional team members involved in the transaction …
