Huntsville, Ala. — New York City-based Montana Property Group (MPG) has acquired North Madison Corners, a 73,600-square-foot retail center located in Huntsville, for $12.5 million. Originally built in 2005, the center features a mix of eight tenants including Marshalls, Michaels, H&R Block, pOpshelf, European Wax Center, Massage Envy, Grill & Smoke BBQ Store and Pizza Hut. MPG’s Huntsville retail portfolio now totals 350,000 square feet. The seller was RAP Properties.
D’lberville, Miss. — CBL Properties has sold The Promenade, a 621,000-square-foot open-air retail center located in D’lberville, roughly three miles north of Biloxi, for $83 million. The center features a mix of more than 45 retail and restaurant tenants including Best Buy, Chick-fil-A, Dick’s Sporting Goods, PetSmart, Buffalo Wild Wings, Target, Bath & Body Works, Olive Garden and Ulta Beauty. CBL Properties has owned and operated the property since its opening in 2009. The center’s buyer was not disclosed.
Chiefland, Fla. — Locally based Coldwell Banker Commercial M.M. Parrish Realtors has arranged the sale of Chiefland Regional Shopping Center, a 140,664-square-foot regional shopping center located in Chiefland, approximately 30 miles southwest of Gainesville. Bealls anchors the center, which was 95.6 percent occupied at the time of sale. Other tenants include Rent-A-Center, Tractor Supply, Subway, Metro by T-Mobile and a Winn-Dixie grocery store, which will be converted into an ALDI. This transaction marks the first time the property has been sold since its original development in 1989. Jim Michalak and Jeff …
Vail Valley, Colo. — Gart Properties has acquired Edwards Corner, a neighborhood retail center at 56 Edwards Village Blvd. in Vail Valley. Built in 2004, Edwards Corner features 48,351 square feet of retail space and office space on the upper level. The center is currently leased to nearly 50 local businesses, including Hovey & Harrison, Drunken Goat, Cut Meat & Seafood and Il Mago. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller, Edwards Corner LLC, in the transaction.
Buford, Ga. — Invesco Real Estate has acquired Georgia Crossing, a 317,201-square-foot power center located in Buford, roughly 38 miles north of Atlanta, for $82 million. Situated across from the 1.7 million-square-foot Mall of Georgia, Georgia Crossing was fully leased to a mix of tenants including TJ Maxx/HomeGoods, Nordstrom Rack, Best Buy, Hobby Lobby, Staples, Cavender’s Boot City and Ulta Beauty at the time of sale. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL’s Investment Sales and Advisory team represented the seller, Washington Prime Group, in the transaction.
Fresno, Calif. — Progressive Real Estate Partners has arranged the $6.7 million sale of Peppertree Plaza, a 51,000-square-foot shopping center located in Fresno. Situated at the intersection of West Shaw and Marks Avenues, the center spans five buildings and was 87 percent leased at the time of sale. Tenants include Outback Steakhouse, Deli-Delicious, Marian’s Mexican Restaurant, Pijja Paradise Pizza & Arcade, Ocean Dental Group, FastSigns and the State Bank of India. Greg Bedell of Progressive represented the seller, a private investor based in the Bay Area. The all-cash buyer was …
Gulf Shores, Ala. — Locally based Merrill P. Thomas Co. has brokered the $5.7 million sale of Paradise Isle Shopping Center, a 47,520-square-foot shopping center located in Gulf Shores. Publix anchors the property, which is situated on 4.6 acres. Other tenants include AutoZone, Resale Heaven, Nail Boutique & Spa and the Gulf Shores Methodist Church. Pratt Thomas of Merrill P. Thomas Co. represented the seller, Gulf Shore Methodist Church, in the transaction. The buyer was an entity doing business as Paradise Isla Holdings LLC.
Rocklin, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $3.8 million sale of a two-tenant retail pad located in Rocklin, approximately 25 miles northeast of downtown Sacramento, for $3.8 million. Situated at 2303 Sunset Blvd., the 6,122-square-foot building is occupied by U.S. Bank and a drive-thru Animal Urgent Care, each on a triple-net lease. Built in 2022, the property sits on roughly 1 acre. Nearby tenants include Taco Bell, Safeway, Costco, Target, The Home Depot, WinCo Foods and Chipotle Mexican Grill. Eric Wohl and CJ Kiehler of Hanley …
Nashville, Tenn. — A partnership between Hanley Investment Group Real Estate Advisors and CP Partners has facilitated the $9.5 million sale of a newly constructed, single-tenant retail property located in Nashville. Sprouts Farmers Market occupies the 22,988-square-foot building on a triple-net-lease featuring five five-year renewal options. Jeff Lefko and Bill Asher of Hanley Investment, in association with Joe Caccamo and Lea Kuehnhackl of CP Partners and ParaSell, Inc., represented the seller, Greenville, South Carolina-based RealtyLink LLC, in the transaction. Chris Thompson of JRW Realty represented the buyer, a Los Angeles-based …
Germantown, Tenn. — Cushman & Wakefield Commercial Advisors has arranged the sale of Germantown Station, a 12,000-square-foot retail center located at 1217-1227 South Germantown Road. Built in 2002, the property is situated on 1.3 acres and was fully leased to tenants including State Farm, Simmons Bank, Alliance Animal Health, Breakaway Running, A&A Nail Spa and Las Tortugas Deli Mexicana at the time of sale. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors represented the seller, Germantown Station LLC, in the transaction. The buyer was Ranjit Komeravelli.
