Herriman, Utah — SRS Real Estate Partners has arranged the $5.3 million purchase of a newly constructed single-tenant retail property located in Herriman, approximately 20 miles southwest of Salt Lake City. A Washington-based private investor acquired the property in a 1031 exchange. PetSuites occupies the 10,953-square-foot property, with a 20-year lease in place. Susan Harris of SRS represented the buyer, and JLL represented the seller in the transaction.
Houston — Disney Investment Group (DIG) has arranged the sale of Presidio Square, a 189,338-square-foot retail center located in Houston. An 82,466-square-foot HEB store anchors the property. Other tenants at the center, which was leased to 30 retailers at the time of sale, include Family Thrift, AT&T, Subway, State Farm, Little Caesars, IHOP and Chase Bank. Wu Properties acquired the property from North American Development Group (NADG) for an undisclosed price. David Disney and Adam Crockett of DIG represented NADG in the transaction.
Acton, Mass. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $21 million sale of Brookside Shops, a 75,529-square-foot shopping center located in Acton, roughly 30 miles outside Boston. Trader Joe’s anchors the property. Jim Koury of IPA arranged the transaction on behalf of the undisclosed seller. Crosspoint Acquisitions acquired the center.
Mesa, Ariz. — An entity doing business as Mesa South Center LP has received $8 million in financing for the acquisition of Mesa South Shopping Center, a 133,663-square-foot retail center located in Mesa. The borrower purchased the property for $15 million. Tenants at the center, which was 85.3 percent leased at the time of sale, include Big 5 Sporting Goods, Harbor Freight Tools and Dollar Tree. The property was originally built in the 1980s but has undergone renovation, including recent capital investments to the parking lot. Shaun Moothart, Bruce Francis, Bob …
Richardson, Texas — A joint venture between 2GR Equity and SHOP Development has acquired Promenade North Shopping Center, a 177,000-square-foot retail center located in the northeastern Dallas suburb of Richardson. Tenants at the property, which was 70 percent leased at the time of sale, include Verizon Wireless, Papa Murphy’s and WingStop. The new ownership plans to implement a value-add program that will include landscape and parking lot improvements, along with new paint, LED lighting and signage upgrades.
Winter Park, Fla. — SRS Real Estate Partners has brokered the $7.7 million sale of a 29,987-square-foot single-tenant retail property located in Winter Park, a suburb of Orlando. Crunch Fitness occupies the property, which is situated on 3.7 acres, on a 15-year triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based investment and development group, in the transaction. The buyer was a Florida-based private investor.
Aventura, Fla. — Cushman & Wakefield has arranged the sale of Aventura Plaza, an 89,883-square-foot mixed-use property in Aventura, a suburb of Miami. The property, which was 92 percent leased at the time of sale, comprises a shopping center and a two-story office building. Tenants at the center include Ace Hardware and a recently opened grocery store, Plum Market, that replaced a former Office Depot. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity doing business as Aventura Plaza Partners, which has owned and …
Yuma, Ariz. — Disney Investment Group (DIG) has brokered the sale of Yuma Palms Regional Center, a 398,602-square-foot retail center located in Yuma. The property was leased to 49 tenants at the time of sale. Retailers at the property include Ross Dress for Less, Marshalls, PetSmart, Michaels, Five Below, Old Navy, Ulta Beauty and Harkins Theatre at the time of sale. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the buyer, Bridge33, in the transaction.
Las Vegas — The Cooper Commercial Investment Group has arranged the $2.3 million sale of a single-tenant retail property located in Las Vegas. AutoZone occupies the building, which is situated on an outparcel to a Walmart-anchored shopping center. Dan Cooper of Cooper Commercial represented the seller, a Florida-based private investment group, in the transaction. AutoZone recently signed a new 15-year lease, with roughly 14 years remaining.
Walla Walla, Wash. — Alamo Group and Covenant Real Estate Group have acquired Walla Walla Town Center, a 120,169-square-foot shopping mall situated on 31 acres in Walla Walla. Tenants at the property, which was 93 percent occupied at the time of sale, include Planet Fitness, Burlington, Ross Dress for Less, Marshall’s, PetSmart, Ulta Beauty, Hobby Lobby, Famous Footwear and Sportsman’s Warehouse. Formerly known as Blue Mountain Mall, the property was redeveloped and reopened as Walla Walla Town Center in 2018. Christopher Edwards, Clayton Brown and Ruthanne Loar of Marcus & Millichap …