Farmington Hills, Mich. — Friedman Real Estate has brokered the $3.9 million sale of a 20,750-square-foot single-tenant retail property located at 100 Michigan Ave. in the northwestern Detroit suburb of Farmington Hills. First Independence Bank occupies the building. Andrew Bower, Steve Eisenshtadt and Peter Jankowski of Friedman represented the seller in the transaction.
Myrtle Beach, S.C. — NAI Charleston has arranged the sale of a 57,659-square-foot shopping center located at 201-233 International Drive in Myrtle Beach. Built in 2014, the center sits on 6.4 acres, according to LoopNet. Lowes Foods anchors the center, which is leased to a mix of local and national tenants. Thomas Boulware and Michael Branch of NAI Charleston represented the buyer in the transaction. Drew Parks of Coldwell Banker Commercial represented the seller.
Houston — CenterSquare Investment Management has acquired Shops at Aliana Trace, a newly constructed, 40,000-square-foot shopping center located in Houston. The property is situated adjacent to Grand at Aliana, a 200,000-square-foot retail power center. Target and H-E-B anchor the Shops at Aliana Trace, which was fully leased at the time of sale. Additional tenants include Big Blue Swim, Salon by JC and Wayback Burgers. The property is CenterSquare’s sixth acquisition in Houston.
Warwick, R.I. and Arlington Heights, Ill. — A joint venture between Dallas-based Encore Enterprises Inc. and AmCap Management Holdings LLC, a subsidiary of Stamford, Connecticut-based AmCap Management LLC, has acquired two grocery-anchored shopping centers in Rhode Island and Illinois totaling 428,928 square feet. The properties are Cowesett Corners in the Providence suburb of Warwick and Northpoint Center in the Chicago suburb of Arlington Heights. Cowesett Corners is anchored by Stop & Shop and totals 152,595 square feet. Additional tenants at the center include PetCo, Five Below and Oak Street Health. The …
Austin, Texas — Houston-based Whitestone REIT has acquired San Clemente at Davenport, a 31,832-square-foot retail center located in Austin. Austin-based Mexican restaurant chain Fresas Chicken anchors the center. Other tenants at the property include Iron Fitness and Greenlake Energy. San Clemente at Davenport marks the fifth neighborhood shopping center Whitestone has acquired in Austin. Shea Petrick and Chris Gerard of JLL Capital Markets’ Investment Sales and Advisory team represented the seller, HPI Real Estate Services & Investments, in the transaction.
Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a newly constructed, 928-square-foot single-tenant retail property located in Riverside. Starbucks Coffee occupies the building on a 10-year, triple-net-lease with scheduled rent increases every five years. Situated on 0.96 acres, the building features a drive-thru and walk-up window. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the seller, Atman Kadakia of Greens Group, in the transaction. Sam Olmstead of Voit Real Estate Services represented the 1031 exchange buyer, a Southern California-based private …
Magnolia, Texas — Marcus & Millichap has brokered the sale of Windcrest Village Square, a 14,907-square-foot retail center located in Magnolia, roughly 45 miles northwest of Houston. Built in 2023, the center sits on 1.6 acres and is fully leased to a mix of tenants including The Toasted Yolk, Sugar Llamas, Anytime Fitness, Kitchen & Bath Shop and Ally Anne’s Kolache Kitchen. Allie Munday and Philip Levy of Marcus & Millichap’s Dallas office represented the seller in the transaction.
Mesa, Ariz. — Desert Troon Cos. has sold Superstition Gateway Shopping Center, a 495,000-square-foot retail power center located in Mesa, for $121 million. Situated on 65.7 acres at the southwest corner of U.S. Highway 60 and Signal Butte Road, the center was constructed in 2006 and 2012 and comprises 19 individual parcels. Current tenants at the property — which was 90 percent leased at the time of sale — include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress For Less, Marshalls, Five Below, PetSmart, Panera Bread, …
Shreveport, La. — STRIVE has brokered the sale of Bert Kouns Retail Plaza, a 14,000-square-foot retail property located in Shreveport, roughly 17 miles east of the Texas border. Originally built in 2002, the center was fully leased to a nail salon, Johnny’s Catfish, Unique LaChique’s Event Center, Tower Loan, Jackie’s Outlet and M&M Builders at the time of sale. Andrew Williams and Will Schubert of STRIVE represented the seller and sourced the buyer, both locally based in Louisiana. Additional terms of the sale were not disclosed.
West Palm Beach, Fla. — JLL Capital Markets has brokered the $45.7 million sale of Echo, a 71,694-square-foot mixed-use property located in downtown West Palm Beach. Originally built in 1925 and renovated in 2021, improvements to the property include a refreshed lobby, conference center, electric vehicle chargers, newly constructed lounge, as well as a new private courtyard. The mixed-use development features office space, 10,000 square feet of ground-floor retail and a 257-space parking garage. The property was 80 percent leased to Stone Point Capital, AltaRock Partners and Sound Point Capital at …
