Morgan Hill, Calif. — Marcus & Millichap has brokered the $8 million sale of a single-tenant retail property located at 18590 Skipper Lane in Morgan Hill. Built in 2021 on a 1.3-acre lot, 7-Eleven occupies the 3,700-square-foot property. Darpan Patel, James Defusto and Dan Yozwiak of Marcus & Millichap represented the seller in the deal. Tony Solomon of Marcus & Millichap served as broker of record in California.
Mount Pleasant, S.C. — JLL Capital Markets has arranged $14.3 million in refinancing for The Plaza at East Cooper, a 102,731-square-foot shopping center located in Mount Pleasant, roughly two miles from downtown Charleston. Eric Tupler, Rob Bova and Ellie Savage of JLL’s Debt Advisory team, along with Alexis Kaiser of JLL’s Charlotte office, represented the borrower, Bamoza LLC, in securing the loan through an insurance company lender. ALDI anchors The Plaza at East Cooper, which was 85 percent leased at the time of sale. Other tenants include Firehouse Subs, Batteries …
New York City — A Delaware-based private venture doing business as Forum at Times Square has acquired 245,419 square feet of retail space in the former New York Times building for $28 million. Jack Stillwagon and Doug Middleton of CBRE Capital Markets brokered the transaction. Jay Miller and AJ Felberbaum of BayBridge Real Estate Capital represented the buyer. Since 2020, the property’s mortgage has been in various stages of special servicing, foreclosure and receivership, prior to being acquired by the lender group in a 2024 foreclosure auction. The retail portion of the building — which …
Miami — Marcus & Millichap has brokered the $4.2 million sale of an 11,042-square-foot development site located in the Little Havana neighborhood of Miami. Formerly home to the Wagon Wheel Motel, the site is situated within the Arts and Entertainment district. Jonathan De La Rosa and Eddie Toledo of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, along with Nicholas Hassan, also of Marcus & Millichap.
Palm Desert, Calif. — Progressive Real Estate has negotiated the $1.8 million sale of a 5,000-square-foot freestanding retail building located in the Downtown Edge District of Palm Desert. The buyer, a family that owns and operates the neighboring Shiraz Rug Co., acquired the building to expand the store’s operations by an additional 5,000 square feet. Heather Sharp of Progressive arranged the sale.
Conroe, Texas — Conshohocken, Pennsylvania-based CenterSquare has acquired the Commons at Harper’s Preserve, a 21,777-square-foot service retail shopping center located in The Woodlands, roughly 40 miles north of Houston. Built in 2022 on 4.4 acres, the property was 91 percent leased to a mix of tenants at the time of sale, including Dunkin’ Donuts, Five Guys, Jeremiah’s Italian Ice, Little Caesar’s and Next Level Urgent Care. This marks CenterSquare’s 11th acquisition in Texas.
Bensalem, Pa. — Hanley Investment Group Real Estate Advisors has arranged the $12.5 million sale of Bensalem Crossings, a 67,215-square-foot shopping center located in Bensalem, roughly 19 miles north of Philadelphia. Bensalem Crossings was fully leased at the time of sale and is anchored by ShopRite and CVS, which occupies 93 percent of the shopping center. Other tenants at the property include Verizon Wireless and a T-Mobile cell phone tower. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment, in association with ParaSell Inc., represented both the seller, Adler Realty …
Crandall, Texas — STRIVE has brokered the sale of Parks Plaza, a 9,880-square-foot retail center located in Crandall, roughly 24 miles southeast of downtown Dallas. Built in 2007 on 1.2 acres, the center features a mix of local tenants such as Crandall Dental, Tuna’s Barbershop, DNA Wellness Center, Self Love Skin Care and Crandall Beauty Supply. Hudson Lambert, Jack Hicks and Jason Vitorino of STRIVE represented the repeat local seller. Additional terms of the sale were not disclosed.
Salt Lake City — Newmark Mountain West has brokered the sale of a 10-property C-A-L Ranch store portfolio spanning Idaho, Utah, Arizona and Nevada. Integra CRE sold the portfolio for an undisclosed price. The name of the buyer was not released. Totaling more than 637,000 square feet, the retail locations serve rural and suburban communities. Chad Moore, Drew Helm and Brendan Lee of Newmark Mountain West represented the seller in the deal.
Jupiter, Fla. — Miami-based Orion Real Estate Group has sold The Shoppes at Jupiter, a 197,000-square-foot shopping center located in Jupiter for $52.8 million. Orion originally acquired the property in 2015 for $27.8 million. Palm Beach Gardens, Florida-based Ram Realty Advisors was the buyer. Noah Jones and Dan Lynch of Atlantic Retail facilitated the transaction. Ram Realty additionally secured a lease with Whole Foods Market to serve as the property’s primary anchor tenant. Built in 1981 and renovated in 2014, The Shoppes at Jupiter is anchored by Cinépolis Luxury Cinemas, Palm Beach …
