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Investment sales

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FloridaGrocery-anchoredInvestment salesNews

Marcus & Millichap Arranges $30 Million Sale of Shopping Center in Pompano Beach, Florida

by Hayden Spiess

Pompano Beach, Fla. — Marcus & Millichap has arranged the $30 million sale of Shoppers Haven, a 205,567-square-foot shopping center in Pompano Beach. Built in 1964 and renovated in 1999, 2013 and 2023, the property will see the addition of a new Publix supermarket, with construction scheduled to begin over the next 30 days. The buyer, Stiles Corp., also plans to implement improvements to storefronts, façades, landscaping, the parking lot and signage. Tenants at the center include Michaels, Bealls, Walgreens, Party City, YouFit, Outback Steakhouse, Comcast, H&R Block, Domino’s Pizza and …

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IllinoisInvestment salesNews

Mid-America Arranges Sale of 649,668-Square-Foot Retail Center in Chicago Suburb

by Hayden Spiess

Orland Park, Ill. — Mid-America Real Estate has arranged the sale of Orland Park Place, a 649,668-square-foot retail center located in the Chicago suburb of Orland Park. Tenants at the property include Nordstrom Rack, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Hobby Lobby, Old Navy, Barnes & Noble, DSW, Ashley Furniture and Steinhafels. The center was 87 percent occupied at the time of sale. PMAT acquired the property for an undisclosed price. Ben Wineman, Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the …

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ColoradoInvestment salesNews

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

by Hayden Spiess

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 …

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CaliforniaInvestment salesNews

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

by Hayden Spiess

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. 

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Investment salesNewsNorth Carolina

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

by Hayden Spiess

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. 

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ArizonaDevelopmentInvestment salesNews

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

by Hayden Spiess

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 …

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FloridaInvestment salesNet leaseNews

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

by Hayden Spiess

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.

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Investment salesNewsNorth Carolina

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

by Hayden Spiess

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 …

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Grocery-anchoredInvestment salesNewsVirginia

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

by Hayden Spiess

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. 

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GeorgiaInvestment salesNews

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

by Hayden Spiess

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. 

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