Coos Bay, Ore. — AlpHubbard LLC has acquired a restaurant building located in Coos Bay for $1.9 million. Burger King occupies the 2,824-square-foot freestanding drive-thru property, which was constructed in 1992. Todd VanDomelen and Mike Brown of Norris & Steven Inc. represented the buyer, and Clayton Brown of Marcus & Millichap represented the seller, Ternik LLC.
Desert Hot Springs, Calif. — Progressive Real Estate Partners has arranged the sale of a retail property located in Desert Hot Springs, in the Coachella Valley. Totaling 33,004 square feet, the property features a multi-tenant building and two pad buildings, one of which is occupied by Chase Bank. A private investor acquired the property for $6.1 million in an all-cash transaction. Greg Bedell of Progressive Real Estate Partners represented the seller, and Heather Sharp of Progressive Real Estate Partners procured the buyer.
Scottsdale, Ariz. — Ziff Real Estate Partners (ZRP) has acquired Mercado at Scottsdale Ranch, a 118,751-square-foot retail center located in the Phoenix suburb of Scottsdale. Whitestone REIT sold the property for $26.5 million. Tenants at the center, which is situated on 11 acres, include Planet Fitness and Walgreens. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the transaction, and Christian Chamblee and Kayla Meier represented ZRP on an internal basis. This marks ZRP’s first purchase in Arizona.
Wathena, Kan. — The Boulder Group has arranged the $1.8 million sale of a 10,566-square-foot single-tenant property in Wathena, a city in northeast Kansas. Dollar General occupies the building on a net-lease basis. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Dollar General developer.
Flemington, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. HomeGoods and Ulta Beauty anchor the property, which was leased to 26 tenants at the time of sale. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction.
Placentia, Calif. — NewMark Merrill Cos. has acquired a 28,000-square-foot single-tenant property located within Placentia Town Center, a 142,666-square-foot shopping center in Placentia. CVS/pharmacy occupies the building. NewMark Merrill now owns the entirety of the shopping center. Other tenants at the center include Marshalls, Ross Dress for Less, Massage Envy, Philly’s Best, KC Nails, Avalon Bagels, Courtesy Cleaners, Mr. D’s Diner & Bar, Uptown Cheapskate and Beauty Avenue. Greg Giacopuzzi of NewMark Merrill, with Tony Veiller of Pegasus Investments, represented NewMark Merrill in the transaction.
Toledo, Ohio — SRS Real Estate Partners has arranged the $11.9 million sale of Airport Square, a 187,252-square-foot shopping center located in Toledo. Situated on approximately 23 acres, the property was 99 percent occupied at the time of sale. Tenants at the center include Urban Air Adventure Park, Discount Fashion Warehouse, American Freight and DaVita Healthcare. Urban Air recently signed a 10-year lease at the center. Jack Cornell, Matthew Mousavi and Patrick Luther of SRS, along with Mac Lehrer of Hoty Enterprises, represented the seller, Oklahoma City-based Frayer Properties. SRS also …
Birmingham, Ala. — Cove Capital Investments has acquired Eastwood Village, a 130,056-square-foot retail center located in Birmingham. Tenants at the property, which was 96 percent occupied at the time of sale, include Ross Dress for Less, Five Below, Office Depot, Michaels, Party City and Starbucks Coffee. The acquisition marks the newest addition to Cove Capital’s DST portfolio, which includes 89 properties totaling 2.1 million square feet throughout the country.
Tustin, Calif. — JLL Capital Markets has brokered the $6.3 million sale of Newport and Walnut Center, a retail center located in Tustin. The property, which was fully leased at the time of sale, totals 9,624 square feet. Tenants at the center include HiroNori Craft Ramen, Crown Beauty, Studio 18 Nail Bar and Moon Lash Beauty. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented both the seller and buyer in the transaction. World Premier Investments acquired the property for an undisclosed price.
Hagerstown, Md. — Legacy Realty Group Advisors has arranged the sale of Kenley Village, a 51,894-square-foot shopping center located in Hagerstown. Dollar General Market anchors the property, which was 66 percent occupied at the time of sale. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented both the buyer and seller in the transaction.
