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Investment sales

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Grocery-anchoredInvestment salesMarylandNews

Synergy Investment Fund Acquires 147,668-Square-Foot Retail Center in Easton, Maryland

by Hayden Spiess

Easton, Md. — Synergy Investment Fund has acquired Tred Avon Square, a 147,668-square-foot retail center located in Easton. ACME, Big Lots, Easton Cinemas, Rent-A-Center, Sherwin Williams, My Eye Dr., Dunkin’ Donuts, Osteria Alfredo, Ship and Print, Subway, Hong Kong Kitchen, Nails & Spa, Lendmark, Chincheck Sports Locker, T-Mobile, Admiral Cleaners, Rusty Hook Bait and Tackle and Spin Groove Records are tenants at the property. SVN | Miller Commercial Real Estate represented the buyer in the transaction. Ross Benincasa and Ryan Finnegan of SVN | Miller will oversee leasing at the center.

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Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Arranges $5.1 Million Sale of Shopping Center in Oxford, North Carolina

by Hayden Spiess

Oxford, N.C. — Legacy Realty Group Advisors has arranged the $5.1 million sale of Hilltop Village, an 80,000-square-foot shopping center located in Oxford. Food Lion anchors the property. Jacob Baruch and Jonah Warshaw of Legacy represented the buyer in the transaction. Adam Palmer of LQ Commercial Real Estate Services represented the seller. 

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GeorgiaGrocery-anchoredInvestment salesNews

JLL Brokers $30 Million Sale of Matt Town Center in Metro Atlanta

by Hayden Spiess

Cumming, Ga. — JLL Capital Markets has brokered the $30 million sale of Matt Town Center, an 81,077-square-foot retail center located in Cumming, roughly 40 miles northeast of Atlanta. Publix anchors the property, which was built in 2020. Other tenants at Matt Town Center, which was 95 percent occupied at the time of sale, include Domino’s, Great Clips, North Shore Dry Cleaners, Grand Nails, Sage Dental, Reveille Café, Dunkin’ Donuts, The UPS Store, EasyVet and Zaxby’s. The sale also included roughly 3.9 acres of undeveloped land, zoned for retail and office …

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GeorgiaInvestment salesNews

JLL Arranges $18.5 Million Sale of Reynolds Crossing in Metro Atlanta

by Hayden Spiess

Duluth, Ga. — JLL Capital Markets has brokered the $18.5 million sale of Reynold’s Crossing, a 45,809-square-foot retail center located in Duluth, roughly 30 miles outside Atlanta. Built in 2004 and 2005, the property was fully leased at the time of sale. Tenants at the center include Little Caesar’s, The UPS Store, MetroPCS, Chase and Cricket Wireless. Brad Buchanan and Jim Hamilton of JLL represented the seller, Leaders Real Estate Group, in the transaction. Justin Miller of Marcus & Millichap procured the buyer. Jamie Safier of Marcus & Millichap secured financing …

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Investment salesNew JerseyNews

CBRE Brokers $13 Million Sale of Properties within Cedar Hill Shopping Center in New Jersey 

by Hayden Spiess

Voorhees, N.J. — CBRE has arranged the $13 million sale of three standalone properties and an undeveloped land parcel situated within Cedar Hill Shopping Center, a 366,000-square-foot retail center located in Voorhees. The properties include Units 2, 3 and 4, which total 62,358 square feet. Tenants at the properties include Starbucks Coffee, The Vitamin Shoppe, AT&T and a 22,000-square-foot Savers Thrift Store. Lowe’s, BJ’s Wholesale Club and Aldi anchor Cedar Hill Shopping Center. Matthew Gorman, Michael Shover, Thomas Finnegan and Rob Thompson of CBRE represented the seller and procured the buyer …

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CaliforniaInvestment salesNews

Hanley Facilitates $5.1 Million Sale of Single-Tenant Property in Santa Maria, California

by Hayden Spiess

Santa Maria, Calif. —Hanley Investment Group Real Estate Advisors has facilitated the $5.1 million sale of a single-tenant property located in Santa Maria. Raising Cane’s Chicken Fingers occupies the newly constructed building, which comprises 3,172 square feet. The restaurant is situated within Enos Ranch, a 110-acre mixed-use development. Alexander Moore, Sean Cox and Kevin Fryman of Hanley represented both the seller, College West Partners, and the buyer in the transaction. 

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FinanceFloridaGeorgiaGrocery-anchoredInvestment salesNews

BWE Secures $16 Million Financing for Two Shopping Centers in Florida, Georgia

by Hayden Spiess

West Palm Beach, Fla. and LaGrange, Ga. — BWE has secured two loans totaling $16 million for the financing of a pair of shopping centers located in Florida and Georgia. The deals include a $6 million loan for the refinancing of Palm Beach Commons, a 70,000-square-foot, Family Dollar-anchored retail center in West Palm Beach; and a $10 million acquisition loan for Publix at Merganser Commons, a newly built, Publix-anchored shopping center spanning 46,791 square feet in LaGrange. Logan Petersmeyer of BWE originated both loans, which are underwritten with full-term, interest-only payments. 

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CaliforniaInvestment salesMixed-useNews

Progressive Arranges $3 Million Sale of Mixed-Use Parcel in Southern California

by Hayden Spiess

Rancho Cucamonga, Calif. — Progressive Real Estate Partners has arranged the $3 million sale of a 1.7-acre parcel of land located in Rancho Cucamonga. Zoned for mixed-use, the property is situated less than a mile from retail center Victoria Gardens. Chris Lindholm and Paul Galmarini of Progressive represented the seller, a Los Angeles County-based private investor, in the transaction. Nicholas Christen of Province West represented the buyer. 

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Company newsIllinoisInvestment salesNews

Northpond Launches $200 Million Investment Partnership Targeting Unanchored Neighborhood Retail Centers

by Hayden Spiess

Chicago — Chicago-based real estate investor and operator Northpond Partners has partnered with a Southeast U.S. pension fund to form Northpond Retail Partners, a $200 million investment vehicle. The fund will target the acquisition of unanchored neighborhood retail centers with an initial focus across the Southeast and select Sunbelt markets. As an all-cash buyer, the partnership will target properties housing convenience, necessity and service-oriented tenants. Categories typically include food and beverage, medical, fitness, and health and beauty. Northpond says the multi-tenant properties ideally contain smaller spaces ranging from 1,000 to 5,000 …

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CaliforniaInvestment salesNews

Brixton Capital Acquires 178,204-Square-Foot Retail Center in San Jose, California

by Hayden Spiess

San Jose, Calif. — Brixton Capital has acquired Monterey Plaza, a 178,204-square-foot retail center located in San Jose. Tenants at the property, which was 71 percent occupied at the time of sale, include FoodMaxx, City Sports Club, Dollar Tree, McDonald’s and Taco Bell. Brixton plans to re-tenant a space formerly occupied by Walmart and implement renovations including new exteriors and landscaping. A joint venture between Kimco Realty and Prudential Global Investment Management sold the property for an undisclosed price. Nicholas Bicardo of Newmark Group represented the seller in the transaction. Brixton …

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