Harrisburg, Pa. — The Kislak Co. has brokered the $4.6 million sale of Uptown Plaza, a 156,066-square-foot retail center located in Harrisburg. Built in 1957 on 14 acres, the property features 30 storefronts. Tenants at the center include H&R Block, Metro PCS, McDonald’s and Save-a-Lot. Robert Holland and Barry Waisbrod of Kislak arranged the sale on behalf of the seller, Town Associates. America’s Realty purchased the property.
Colorado Springs, Colo. — M & J Wilkow and MetLife Investment Management have acquired Chapel Hills East in Colorado Springs, marking the fifth joint venture for the companies. Whole Foods Market anchors the retail center, which totals 225,000 square feet. Other tenants at the property, which was fully leased at the time of sale, include Nordstrom Rack, Best Buy, DSW, Old Navy, Barnes & Noble and Office Depot. The center was developed in 1995 and 1996.
Lake Worth, Texas —Vista Property has purchased Lake Worth Marketplace, a 197,553-square-foot shopping center located in Lake Worth, on the northwestern outskirts of Fort Worth. Built in phases between 2005 and 2007, the center was 93 percent leased at the time of sale to tenants including Kohl’s, Marshalls, Burlington, pOpshelf, Lane Bryant and Bath & Body Works. Barry Brown, Chris Gerard, Erin Lazarus, Keenan Ryan and Ben Pollack of JLL represented the undisclosed seller in the transaction.
Ocala, Fla. — SRS Real Estate Partners has brokered the $3.7 million sale of a 6,119-square-foot gas station and convenience store situated on 2.3 acres in Ocala, a city in Central Florida. Wawa occupies the newly constructed property on a 20-year, corporate-guaranteed ground lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based development firm, in the transaction. An undisclosed, privately held buyer purchased the property in a 1031 exchange.
Chattanooga, Tenn. — Marcus & Millichap has brokered the $3.6 million sale of Brainerd Market Center, a 44,800-square-foot retail center located in Chattanooga. The property was 80 percent leased at the time of sale. Situated two miles from Chattanooga Metropolitan Airport, Brainerd Market Center is shadow-anchored by a Walmart Supercenter and is adjacent to East Gate Town Center. Zach Taylor of Marcus & Millichap represented the seller, an undisclosed Tennessee-based developer, in the transaction. Jody McKibben, Marcus & Millichap’s broker of record in Tennessee, assisted in closing the transaction.
Johns Creek, Ga. — Toro Development Co. has acquired 43 acres in the northern Atlanta suburb of Johns Creek for its upcoming Medley mixed-use development. Toro purchased the parcel for $44 million. Currently, the property features a four-story office building, as well as the site of another, demolished office building and surface parking. Plans for Medley include 200,000 square feet of retail, restaurant and entertainment space, in addition to office and residential space and a central green space. Tenants at the development will include Ford Fry’s Little Rey, CRÚ Food & …
Merced, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of two single-tenant retail properties located in Merced. Private buyers purchased the properties in separate transactions totaling $8.2 million. Developer Chase Partners Ltd. was the seller. Starbucks Coffee occupies one of the properties, which comprises 1,000 square feet and sold for $2.9 million, on a new 10-year triple-net lease. The other property totals 4,088 square feet and is occupied by 7-Eleven on a new 15-year triple-net lease. Bill Asher and Jeff Lefko of Hanley represented the seller in …
Lancaster and Palmdale, Calif. — A private investor has acquired two retail properties in southern California for a total $6.8 million. IHOP occupies both properties, which are located in Lancaster and Palmdale, on a net-lease basis. Deal terms include a new 23-year lease that commenced at the close of escrow, 1.5 percent annual increases and a 30-unit guarantee. Andre Thompson and Peter Deltondo of Marcus & Millichap represented the seller, a private investor, and secured the buyer in the transaction.
Carrollton, Ga. — Stratus Property Group has acquired a 38,000-square-foot shopping center located downtown Carrollton, roughly 45 miles west of Atlanta. The purchase included three acres of land. Tenants at the property include Shuckers Oyster House and Sutton’s American Grill. Stratus Property Group plans to reimagine the center, in collaboration with the City of Carrollton.
Chandler, Ariz. — Kidder Mathews has brokered the $12.5 million sale of Sun Village Fair, a retail center located in Chandler, roughly 20 miles outside Phoenix. Sun Village Fair comprises 189,022 square feet of existing retail space, as well as roughly six acres available for pad development. Additionally, the site features a Walmart, First Bank and Wendy’s, which were not included in the sale. Darren Tappen, Nathan Thinnes, Pete Beauchamp, Trask Switzenberg and Matthew Ault of Kidder Mathews represented the seller, LNR Partners, in coordination with Trevor Koskovich of Northmarq and …