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Investment sales

River-Oaks-Houston
Investment salesMixed-useNewsTexas

Houston Rockets Owner Buys River Oaks District for $450 Million

by Hayden Spiess

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 …

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Topgolf Omaha
Investment salesNebraskaNet leaseNews

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

by Hayden Spiess

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. 

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Parkway-Shopping-Center_Allentown-Penn
Investment salesNewsPennsylvania

Marcus & Millichap Brokers $12.5 Million Sale of Parkway Shopping Center in Allentown, Pennsylvania

by Hayden Spiess

Allentown, Pa. — Marcus & Millichap has brokered the $12.5 million sale of Parkway Shopping Center, a 133,314-square-foot retail center located in Allentown. Colin Reder, Derrick Dougherty and Scott Woodard of Marcus & Millichap arranged the sale on behalf of the undisclosed seller. Neil Campbell and Ian Nordfors of IPA Capital Markets, a division of Marcus & Millichap, secured debt financing on behalf of the buyer. Metro Commercial and KW Commercial will continue to manage and lease the property on behalf of the new ownership. 

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Investment salesNewsTexas

NewQuest Arranges Sale of 139,538-Square-Foot Former Sam’s Club Store in Houston

by Hayden Spiess

Houston —NewQuest Properties has arranged the sale of a 139,538-square-foot retail building in West Houston. The vacant building, which is part of a larger development anchored by Target, Burlington and Marshalls, sits on 12 acres and was formerly owned and occupied by Sam’s Club. John Nguyen of NewQuest Properties represented the buyer, an entity doing business as SSS Marketplace on Eldridge LLC, in the transaction. James Namken and Kyle Knight of Weitzman represented the seller.

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Investment salesNewsTexas

Three Pillars Capital Acquires 16,000-Square-Foot Shopping Center in Frisco, Texas

by Hayden Spiess

Frisco, Texas — Three Pillars Capital has acquired Shops at The Gate, a 16,000-square-foot shopping center located north of Dallas in Frisco. Built in 2021, the property comprises two buildings situated on two acres. The center, which was fully occupied at the time of sale, is an outparcel to Domain at The Gate, a luxury apartment development. Mike Kennedy and Darrell Betts of Avison Young represented the seller, an undisclosed foreign investment group, in the transaction.

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Parkside-Marketplace_Richmond-Va
Investment salesNewsVirginia

Northpond Acquires 52,948-Square-Foot Retail Center in Richmond, Virginia

by Hayden Spiess

Richmond, Va. — Northpond Partners has acquired Parkside Marketplace, a 52,948-square-foot retail center in Richmond. The $17.4 million purchase marks the first acquisition for Northpond’s new $200 million investment vehicle, which is focused on retail centers in the Southeast and select Sunbelt markets. Tenants at the center, which was 98 percent leased at the time of sale, include West Marine, Five Guys, AT&T and M&T Bank. Catherine Spangler and Richard Thalhimer of Cushman & Wakefield | Thalhimer represented the seller, Stavins & Axelrod, in the transaction. 

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Starbucks_Visalia-Calif
CaliforniaInvestment salesNews

Hanley Brokers $3.4 Million Sale of Starbucks-Occupied Property in Visalia, California

by Hayden Spiess

Visalia, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.4 million sale of a 2,000-square-foot single-tenant property located in Visalia. Starbucks Coffee occupies the building, which was constructed on 0.6 acres in 2023 and features a double drive-thru. Sean Cox, Alexander Moore, Bill Asher and Kevin Fryman of Hanley represented the developer and seller, Stock Five Development, in the transaction. David Mouallem of D.M. Realty Inc. represented the buyer, a Los Angeles-based private investor. 

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Heritage-Crossing_Kinston-N.C
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Brokers $3.5 Million Sale of Heritage Crossing Shopping Center in Kinston, North Carolina

by Hayden Spiess

Kinston, N.C. — Legacy Realty Group Advisors has brokered the $3.5 million sale of Heritage Crossing, a 50,467-square-foot shopping center located in Kinston. Food Lion, Rainbow and Hibbett Sports anchor the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction. 

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Shops-at-Covington-Town-Center_Covington-Ga
GeorgiaGrocery-anchoredInvestment salesNews

Cushman & Wakefield Arranges Sale of 62,787-Square-Foot Retail Center in Metro Atlanta

by Hayden Spiess

Covington, Ga. — Cushman & Wakefield has arranged the sale of Shops at Covington Town Center, a 62,787-square-foot retail center located in Covington, roughly 35 miles outside Atlanta. Opened in 2023, the center is anchored by a 48,387-square-foot Publix, with an additional 14,400 square feet of retail space. A joint venture between The Sembler Co. and Berkeley Development was the developer and seller of the property, which is situated within a master-planned project featuring residential and hotel space. Margaret Jones, Lane Breedlove, Adam Feinstein, Mark Gilbert and Mitchell Halpern of Cushman …

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Freedom-Plaza_Rome-N.Y
FinanceInvestment salesNew YorkNews

BWE Secures $8 Million Acquisition Financing for Shopping Center in Central New York

by Hayden Spiess

Rome, N.Y. — BWE has secured an $8 million loan for the acquisition of Freedom Plaza, a shopping center located in Rome in central New York. Tenants at the property, which totals 197,397 square feet, include Grand Union, Dollar Tree, Domino’s and Marshalls. Hobby Lobby is also scheduled to open at the property this year. Alan Tapie of BWE arranged the five-year, fixed-rate financing on behalf of the borrower, Octave Investment. 

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