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Investment sales

Metro-Shops_Hyattsville-Md
FinanceInvestment salesMarylandNews

JLL Arranges $18.4 Million Acquisition Financing for Retail Center in Metro Washington, D.C. 

by Hayden Spiess

Hyattsville, Md. — JLL Capital Markets has arranged an $18.4 million loan to finance the acquisition of Metro Shops, a retail center located in the Washington, D.C. suburb of Hyattsville. Built in 2007 at 2900 Belcrest Center Drive, the property totals 160,623 square feet and is situated across from the 1 million-square-foot Mall at Prince George’s. Tenants at the center include Bob’s Discount Furniture, Staples, LA Fitness, Citibank and Dunkin’ Donuts. Michael Klein, Max Custer, Brian Buglione and Benjamin Morgenthal of JLL secured the financing through Loews Corp. on behalf of …

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Ent-Credit-Union-Greeley-CO
ColoradoInvestment salesNews

Marcus & Millichap Brokers $2.2 Million Sale of Ground Lease in Greeley, Colorado

by Hayden Spiess

Greeley, Colo. — Marcus & Millichap has brokered the $2.2 million sale of a 15-year, absolute triple-net ground lease for an Ent Credit Union-occupied property in Greeley, southeast of Fort Collins. A developer sold the property to an undisclosed buyer. Drew Isaac and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal. The Ent Credit Union is situated within a mixed-use development that also features a Starbucks Coffee and QuikTrip, as well as residential space. 

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Fiddler's-Run_Morganton-N.C
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Brokers $8.3 Million Sale of Fiddler’s Run Shopping Center in North Carolina

by Hayden Spiess

Morganton, N.C. — Legacy Realty Group Advisors has brokered the $8.3 million sale of Fiddler’s Run Shopping Center in Morganton. Food Lion anchors the property, which totals 200,000 square feet. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction. 

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Raising-Cane's_Imperial-Beach-Calif
CaliforniaInvestment salesNewsRestaurants

Hanley Brokers $5.7 Million Sale of Single-Tenant Property in Metro San Diego

by Hayden Spiess

Imperial Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $5.7 million sale of a single-tenant property located in Imperial Beach, roughly 15 miles outside San Diego. Raising Cane’s Chicken Fingers occupies the building, which is situated on a 0.7-acre pad site. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, an entity doing business as Palm Avenue 111 Partners LLC, in the 1031, all-cash transaction. Scott Ketchum, a Newport Beach-based broker, represented the buyer, a family trust. 

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Fifth-Avenue
Investment salesNew YorkNews

Gucci Owner Acquires Fifth Avenue Retail Property in New York City for $963 Million

by Hayden Spiess

New York City — Global luxury group Kering has acquired a multi-level retail property at 715-717 Fifth Ave. in New York City for $963 million. The Paris-based company manages the development of a number of major fashion houses including Gucci, Saint Laurent, Balenciaga and Alexander McQueen.  The 115,000-square-foot space spans multiple levels at the base of the Corning Glass Building, a 28-story office tower developed in 1959. Rival fashion houses Dolce & Gabbana and Armani currently occupy the space. The Armani lease at the property is up in a few months, …

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OaklandParkPlaza
FloridaInvestment salesNews

Flying Horse Investments Acquires 21,570-Square-Foot Retail Center in Florida

by Hayden Spiess

Oakland Park, Fla. — Flying Horse Investments (FHI) has acquired Oakland Park Plaza, a 21,570-square-foot retail center located in Oakland Park in metro Fort Lauderdale. FHI plans to implement a $1 million renovation and reposition the property over the next eighteen months and has hired Pegasus Asset Management to implement its business plan. Daniel Soloman of Katz & Associates will manage leasing at the center. Elon Gerberg of SVN represented the seller in the transaction. 

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SuperFresh_Middlesex-N.J
Grocery-anchoredInvestment salesNew JerseyNews

NAIDB Arranges $8.6 Million Sale of Retail Center in Middlesex, New Jersey

by Hayden Spiess

Middlesex, N.J. — NAI DiLeo-Bram & Co. (NAIDB) has arranged the $8.6 million sale of a 69,750-square-foot retail center located in Middlesex. A new 57,000-square-foot SuperFresh anchors the property. Situated on 3.9 acres adjacent to The View Apartments, the center also features a 6,115-square-foot liquor store and 6,300 square feet of second-floor office space. Marc Shein of NAIDB represented the undisclosed seller in the transaction. Bennett Realty & Development represented the buyer. 

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Merrimack-Village-Center_Merrimack-N.H
Grocery-anchoredInvestment salesNew HampshireNews

IPA Arranges $16.6 Million Sale of 82,292-Square-Foot Retail Center in New Hampshire

by Hayden Spiess

Merrimack, N.H. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of Merrimack Village Center, an 82,292-square-foot retail center located in Merrimack, roughly 50 miles northwest of Boston. An entity doing business as Merrimack Village Center LLC acquired the property for $16.6 million. Shaw’s anchors the center, which was constructed on 10 acres in 2006. Other tenants include Dental Designs of New England, KT Cleaners, Sweet Ginger, Pizzico, Subway, Hana, Bliss Nail Salon, Smoker’s Haven and Supercuts. The property was 99 percent occupied at the time of sale. …

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ArizonaGrocery-anchoredInvestment salesNews

JLL Brokers $27.5 Million Sale of Retail Center in Tucson, Arizona

by Hayden Spiess

Tucson, Ariz. — JLL Capital Markets has brokered the $27.5 million sale of Rillito Crossing, a 96,424-square-foot retail center located in Tucson. Prairie Hill Holdings acquired the center from Epic Real Estate Partners and Centerbridge. Developed in 2008, the property was 96 percent leased at the time of sale. Sprouts Farmers Market, which recently completed a $1.2 million interior remodel, anchors the center. Other tenants include Sola Salons, LA Fitness, Adrian’s Barbershop, Smoothie Factor, JK Nails, The Joint Chiropractic, The Tea Hub, Dao’s Tai Pan’s and Rita’s Italian Ice Custard. Two …

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Peachtree-Crossing_Peachtree-City-Ga
GeorgiaGrocery-anchoredInvestment salesNews

Nuveen Acquires 80,7480-Square-Foot Shopping Center in Metro Atlanta

by Hayden Spiess

Peachtree City, Ga. — Nuveen Real Estate has acquired Peachtree Crossing, an 80,748-square-foot shopping center located in Peachtree City, roughly 30 miles outside Atlanta. Harbour Real Estate Partners sold the property for an undisclosed price. Built in 1978 and renovated in 2011, the Fresh Market-anchored center was fully leased at the time of sale. Tenants at the property include Peachtree City Eye Center, Bintelli Golf Carts, Heirloom Market, Mina’s Hallmark, Hollywood Feed, Campanile’s Home Inside & Out, Georgia Shrimp Co. and W. Daly Salon. Brad Buchanan, Jim Hamilton and Andrew Michols …

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