Mesa, Ariz. — Peak Southern LLC has purchased a 5.8-acre land site in the Phoenix suburb of Mesa. Signal Butte & Southern LLC sold the property for $3 million. John Jackson and Kristina Remon of Colliers in Arizona arranged the transaction. The buyer plans to develop a retail center on the property. According to Colliers, the property will be divided into three pad sites that are available for purchase, build-to-suit or ground lease, and the construction schedule will be dependent upon the execution of purchases and leases.
Marcus & Millichap Brokers $18 Million Sale of 129,059-Square-Foot Shopping Center in Troy, New York
Troy, N.Y. — Marcus & Millichap has brokered the $18 million sale of Hudson River Commons, a 129,059-square-foot shopping center located in Troy. Big Lots anchors the property, which is situated on a 12.2-acre site. Other tenants at the center, which was 97 percent leased at the time of sale, include Friendly’s, Sonic, Subway, Starbucks Coffee, Family Dollar and Saratoga National Bank. Joseph French and Kodi Traver represented the seller and procured the buyer in the transaction.
North Augusta, S.C. — Matthews Real Estate Investment Services has arranged the sale of Martintown Plaza, a 143,716-square-foot retail center located in North Augusta. Belk, Planet Fitness and Goodwill anchor the property, which was built in 1975 and renovated in 2012. Kyle Stonis, Pierce Mayson, Jeff Enck and Boris Shilkrot of Matthews represented the undisclosed seller in the transaction.
Sanford, Fla. — CTO Realty Growth has acquired Marketplace at Seminole Towne Center, a 318,000-square-foot retail center located in Sanford, approximately 25 miles outside Orlando. An undisclosed seller sold the center for $68.7 million. Situated on 41 acres, the property was 98 percent leased at the time of sale. Burlington, Marshalls, World Market, Petco, Ross Dress for Less, Old Navy, Ulta Beauty and Five Below anchor the center.
Seattle — Marcus & Millichap has arranged the $3.2 million sale of a gas station property located in the Ballard neighborhood of Seattle. Shell occupies the property on a net-lease basis. Hank Wolfer of Marcus & Millichap’s Seattle office represented the undisclosed seller in the deal.
Edmond, Okla. — Hanley Investment Group Real Estate Advisors has facilitated the $1.7 million sale of a single-tenant property located in Edmond, roughly 15 miles outside Oklahoma City. Salad and Go Drive-Thru occupies the 858-square-foot building, which is an outparcel to a Lowe’s. Jeff Lefko and Bill Asher of Hanley represented the seller, in association with Alex Apter of Location Commercial Real Estate and ParaSell Inc. Eric Fleske of Fleske Commercial Group represented the buyer, a private investor.
Oak Forest, Ill. — Mid-America Real Estate Corp. has arranged the sale of Oak Forest Commons, a 115,754-square-foot shopping center located in the Chicago suburb of Oak Forest. Rick Drogosz, Ben Wineman and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. First Tek acquired the center for an undisclosed price. The property was managed by Pine Tree on behalf of the seller.
San Antonio — A joint venture between Headwall Investments and SageView Partners has acquired The Colonnade Retail Center, a 126,549-square-foot shopping center located in San Antonio. Tenants at the property include Firehouse Subs, Great Clips, The Honey Baked Ham Co., First Watch and PJ’s Coffee of New Orleans. This marks the inaugural purchase for Headwall’s Shopping Center Fund II portfolio, a platform targeting unanchored convenience retail centers in major Texas metros.
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.