Investment sales

Pinnacle Negotiates Sale of 94,949-Square-Foot Plaza West at Aurora Town Center in Colorado

by Hayden Spiess March 11, 2024

Aurora, Colo. — Pinnacle Real Estate Advisors has negotiated the sale of Plaza West at Aurora Town Center, a 94,949-square-foot retail center situated on 7.8 acres in the Denver suburb of Aurora. A Colorado-based investment group acquired the property for $8 million. Dollar Tree and Harbor Freight Tools anchor the center, which was built in 1985 and was 65 percent occupied at the time of sale. The property also includes a freestanding drive-thru building built in 2021 and occupied by Starbucks Coffee. Justin Krieger of Pinnacle Real Estate Advisors arranged the …

March 11, 2024

California Investment sales News

Hanley Arranges $7.7 Million Sale of Single-Tenant Property in San Bernardino, California

by Hayden Spiess March 11, 2024

San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $7.7 million sale of a single-tenant retail property located in San Bernardino. 7-Eleven occupies the property, which was built in 2023 and totals 4,088 square feet. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Chase Partners Ltd., in the transaction. Jeff Leggio of ASU Commercial represented the buyer, a California-based private investor.

March 11, 2024

Investment sales News North Carolina

Marcus & Millichap Brokers $10.5 Million Sale of Berkeley Plaza in Goldsboro, North Carolina

by Hayden Spiess March 8, 2024

Goldsboro, N.C. — Marcus & Millichap has brokered the $10.5 million sale of Berkeley Plaza, a 101,812-square-foot shopping center in Goldsboro. Tenants at the property, which was fully occupied at the time of sale, include Big Lots, Gold’s Gym, Staples, Books-A-Million, AT&T and U.S. Armed Forces. Andrew Margulies, Harrison Creason and Harrison Jones of Marcus & Millichap represented the seller, a North Carolina-based investor, in the transaction. Bold Commercial Real Estate represented the buyer, a family office.

March 8, 2024

Arizona Development Investment sales News

Peak Development Partners, Hungry Investments Acquire 5.5-Acre Development Site in Metro Phoenix

by Hayden Spiess March 7, 2024

Chandler, Ariz. — Peak Development Partners and Hungry Investments have acquired a 5.5-acre parcel of land in Chandler, roughly 20 miles outside Phoenix. The joint venture acquired the property from NGAI Family Trust for an undisclosed price, with plans to develop multiple retail pads at the site. Construction is scheduled to begin in the fourth quarter of this year, with the opening planned for the first quarter of 2025. Brian Gast of Velocity Retail Group will manage leasing at the property. Phil Bramsen of SanTan Commercial Advisors represented Peak Development Partners …

March 7, 2024

Florida Investment sales Net lease News

Marcus & Millichap Brokers $9.2 Million Sale of Single-Tenant Property in Miami Springs, Florida

by Hayden Spiess March 6, 2024

Miami Springs, Fla. — Marcus & Millichap has brokered the $9.2 million sale of single-tenant retail property located in Miami Springs. Office Depot occupies the building on a triple-net-lease basis. Scott Sandelin of Marcus & Millichap represented the undisclosed seller, which acquired the property in 2012, in the transaction. Jorge Ruiz of Platinum Properties represented the undisclosed buyer.

March 6, 2024

Investment sales News North Carolina

Yale Realty Services Corp. Acquires 294,617-Square-Foot Shopping Center in Concord, North Carolina for $49.2 Million

by Hayden Spiess March 6, 2024

Concord, N.C. — An affiliate of Yale Realty Services Corp., in partnership with an international family office, has acquired Afton Ridge, a 294,617-square-foot shopping center located in Concord, roughly 25 miles northeast of Charlotte. Robert Altman of Altman Warwick Inc. and Bat Barber of Medalist Capital arranged the $49.2 million acquisition on behalf of the buyer. Mike Burkard and Steve Shields of CBRE represented the undisclosed seller in the transaction. MetLife financed the acquisition with a $29.6 million mortgage. A Super-Target anchors the property, which was 97 percent occupied at the …

March 6, 2024

Grocery-anchored Investment sales News Virginia

Legacy Brokers $10.9 Million Sale of Retail Center in Richmond, Virginia

by Hayden Spiess March 5, 2024

Richmond, Va. — Legacy Realty Group Advisors has brokered the $10.9 million sale of Central Crossing, a retail center located in Richmond. Food Lion anchors the property, which totals 70,178 square feet. Jacob Baruch of Legacy represented both the buyer and seller in the transaction.

March 5, 2024

Georgia Investment sales News

FrostPoint Capital Acquires 46,767-Square-Foot Shopping Center in Metro Atlanta

by Hayden Spiess March 5, 2024

Kennesaw, Ga. — FrostPoint Capital has acquired The Shops at Shiloh Crossing, a 40,767-square-foot shopping center located in Kennesaw, roughly 30 miles outside of Atlanta. Conor Sweeney of Foundry Commercial represented both the buyer and seller in the $6.9 million transaction. FrostPoint plans to implement a complete renovation of the property.

March 5, 2024

Investment sales Mixed-use News Texas

Houston Rockets Owner Buys River Oaks District for $450 Million

by Hayden Spiess March 4, 2024

Houston — Fertitta Entertainment Inc., an entity controlled by Houston Rockets owner Tilman Fertitta, has purchased River Oaks District, a 664,308-square-foot mixed-use development on Houston’s west side. Multiple local news sources, including the Houston Chronicle, report that the sales price was $450 million. As a shopping and dining destination, River Oaks District features 302,668 square feet of retail and restaurant space. Tenants include Hermes, Cartier, Dior, Harry Winston, Van Cleef & Arpels, Brunello Cucinelli, Balmain, Le Colonial, Toulouse, Bari, Steak48 and Little Hen. River Oaks also houses an Equinox fitness facility and …

March 4, 2024

Investment sales Nebraska Net lease News

Hanley Brokers $7.7 Million Sale of Topgolf-Occupied Property in Omaha, Nebraska

by Hayden Spiess March 4, 2024

Omaha, Neb. — Hanley Investment Group Real Estate Advisors has brokered the $7.7 million sale of a single-tenant retail property located in Omaha. Topgolf occupies the 24,496-square-foot building on a triple-net-lease basis. Built in 2020 on 10.2 acres, the property is situated near a Chipotle Mexican Grill, X-Golf and the site of a future nine-acre mixed-use development. Jeff Lefko and Bill Asher of Hanley represented the developer and seller, a locally based private investor, in the transaction. Ashish Wadhwani of Wadhwani Holdings represented the Houston-based buyer.

March 4, 2024

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