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Investment sales

Chase_Bakersfield-Calif
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $2.9 Million Sale of Single-Tenant Property in Bakersfield, California

by Hayden Spiess

Bakersfield, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2.9 million sale of a 3,576-square-foot single-tenant property located in Bakersfield. Chase Bank occupies the building, which was constructed in 2022 on a 0.9-acre pad, on a triple-net-lease basis. Bill Asher and Jeff Lefko of Hanley represented the seller, a local private investor, in the transaction. Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer. The property is situated adjacent to a shopping center that is leased to tenants including In-Shape, PetSmart, Banfield Pet Hospital, …

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IllinoisInvestment salesNet leaseNewsRestaurants

Marcus & Millichap Negotiates $2.4 Million Sale of IHOP-Occupied Property in Illinois 

by Hayden Spiess

Springfield, Ill. — Marcus & Millichap has negotiated the $2.4 million sale of a 4,480-square-foot single-tenant property located in Springfield. IHOP occupies the building. The property is situated just north of Capital City Shopping Center, which is occupied by tenants including AMC, Big Lots, Panera Bread and McDonald’s. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Steven Weinstock of Marcus & Millichap assisted in closing the transaction, including a triple-net lease with a franchisee and 10 percent rental increases every five years.

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Lincoln City Outlets
Investment salesNewsOregon

HGP Acquires Lincoln City Outlets in Oregon for $35.3 Million

by Hayden Spiess

Lincoln City, Ore. — Horizon Group Properties (HGP) has acquired Lincoln City Outlets in Lincoln City for $35.3 million, in a joint venture with an entity doing business as LC Outlets JV LLC. The open-air outlet center comprises 50 individual retail, restaurant and venue spaces. Tenants at the property include Nike, Coach, Pendleton, North Face, Eddie Bauer, Scout Northwest Trading Co., Salt and Point Break Fitness. Gilgamesh Brewing also recently opened at the center. HGP will act as the managing member of the joint venture and handle the leasing, management and …

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ConnecticutGrocery-anchoredInvestment salesNews

JLL Brokers $15.9 Million Sale of Northern New Jersey Shopping Center

by Hayden Spiess

Stratford, Conn. —Atlantic Capital Partners has negotiated the $24.6 million sale of North Town Center, a 115,000-square-foot shopping center located in the southern coastal Connecticut city of Stratford. Big Y Supermarket has anchored North Town Center, which was 93 percent leased at the time of sale, since 2008. Other tenants at the property include X-Golf, Town Line Liquors and Town Fair Tire. Justin Smith, Chris Peterson, Sam Koonce and Matt Ericson of Atlantic Capital Partners represented both the buyer and seller in the transaction. Stephen Joseph of Atlantic Capital arranged long-term …

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ColoradoInvestment salesNews

CBRE Arranges $12.9 Million Acquisition of The Shops at Mesa Ridge in Colorado

by Hayden Spiess

Fountain Colo. — CBRE has arranged the $12.9 million acquisition of The Shops at Mesa Ridge, a retail property located in Fountain, a suburb of Colorado Springs. Built in 2001, the retail center features two multi-tenant buildings totaling 29,309 square feet. The property was 95.7 percent leased to 16 tenants at the time of sale. Retailers at the center include Pizza Hut, ENT Credit Union and Buffalo Wild Wings. A private investor purchased the asset from an undisclosed seller. Mark Shaffer, Gary Stache, Gerard Poutier and Chris Martin of CBRE Capital …

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CaliforniaFinanceInvestment salesNews

Continental Realty Corp. Secures $66 Million Acquisition Financing for Shopping Center in Metro Los Angeles

by Hayden Spiess

Costa Mesa, Calif. — Continental Realty Corp. has secured a $66 million loan for the acquisition of The South Coast Collection (SOCO), a 291,977-square-foot shopping center located in Costa Mesa, roughly 40 miles outside Los Angeles. Daniel Rosenberg and Logan Petersmeyer of BWE arranged the five-year, fixed-rate financing on behalf of Continental. 

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Palm-Plaza_Leesburg-Fla
FloridaGrocery-anchoredInvestment salesNews

Sembler, Forge Acquire 133,419-Square-Foot Retail Center in Leesburg, Florida

by Hayden Spiess

Leesburg, Fla. — A joint venture between The Sembler Co. and Forge Capital Partners, doing business as Forge Real Estate Partners V LP, has acquired Palm Plaza, a 133,419-square-foot retail center located in Leesburg. Crosspoint sold the property for $17.8 million. Publix anchors the property, which was 92 percent occupied at the time of sale. Other tenants at the center include Planet Fitness, Popeyes, Quest Diagnostics, Rent-A-Center, Firehouse Subs, Core Health, OneMain Financial, T-Mobile and The UPS Store. Brad Peterson, Whitaker Leonhardt and Tommy Isola of Colliers represented the seller in …

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Fayette-Pavilion_Fayetteville
GeorgiaInvestment salesNews

CBRE Arranges Sale of 1.1 Million-Square-Foot Retail Center in Metro Atlanta

by Hayden Spiess

Fayetteville, Ga. — CBRE has arranged the sale of Fayette Pavilion, a 1.1 million-square-foot open-air retail center in Fayetteville, a city about 22 miles south of Atlanta. Fayette Pavilion is the largest open-air retail center in Georgia and also the most visited, with approximately 8.3 million annual visitors, according to CBRE. Developed on 106 acres from 1995 to 2003, the property is leased to tenants including Publix, Hobby Lobby, Burlington, Ross Dress for Less, Marshalls, PetSmart, Old Navy, pOpshelf, Dollar Tree and Five Below. Chris Decoufle, Kevin Hurley and Matt Karempelis …

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Investment salesNew YorkNews

JLL Brokers Sale of 730,000-Square-Foot Retail Center in Hicksville, New York

by Hayden Spiess

Hicksville, N.Y. — JLL has arranged the sale of Broadway Commons, a 730,000-square-foot retail center in the Long Island community of Hicksville. The center was 97 percent leased at the time of sale to tenants including Round 1 Bowling & Amusement, Showcase 12 Cinema, H&M, Old Navy, Blink Fitness, Buffalo Wild Wings, On the Border, Hook & Reel, Panera Bread and Blaze Pizza. Jose Cruz, Kevin O’Hearn, J.B. Bruno and David Monahan of JLL represented the undisclosed seller in the transaction and procured the buyer, a partnership between KABR Group, BTF …

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Florence-Plaza_Florence-Ala
AlabamaInvestment salesNews

Legacy Brokers $8.4 Million Sale of Retail Center in Alabama

by Hayden Spiess

Florence, Ala. — Legacy Realty Group Advisors has brokered the $8.4 million sale of Florence Plaza, a retail center located in Florence. Ollie’s Bargain Outlet, Crunch Fitness, AutoZone and Badcock Furniture anchor the property, which totals 150,000 square feet. Jacob Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction. 

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