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Investment sales

Market Lofts
CaliforniaGrocery-anchoredInvestment salesNews

Hanley, SRS Arrange $20.9 Million Sale of Retail Anchor at Mixed-Use Development in Los Angeles

by Abby Cox

Los Angeles — A partnership between Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners has arranged the $20.9 million sale of the retail component at Market Lofts in downtown Los Angeles. The retail portion of the project is anchored by a 49,489-square-foot Ralphs grocery store located on the ground floor. Completed in 2007, Market Lofts features 267 condominiums with 54,948 square feet of total ground-floor retail space. Along with Ralphs, the retail portion of the property is leased to six additional tenants including The UPS Store, Supercuts, …

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Investment salesNew YorkNews

Acadia Realty Acquires Three Retail Storefronts in New York for $61 Million

by Abby Cox

Brooklyn, N.Y. — Acadia Realty Trust has acquired three retail storefronts totaling approximately 13,600 square feet in the Williamsburg neighborhood of Brooklyn. Acadia now owns seven storefronts along North 6th Street, including the most recent acquisitions of 95, 97 and 107 North 6th Street. Brendan Maddigan, Ethan Stanton and Michael Mazzara of JLL represented Acadia Realty Trust, and the seller, City Urban Realty, in the transaction.

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Investment salesNewsSouth Carolina

Joint Venture Acquires 59,020-Square-Foot Shopping Center in Rock Hill, South Carolina

by Abby Cox

Rock Hill, S.C. — A joint venture between ShopOne Centers REIT, Pantheon and a global institutional investor has acquired Riverview Commons, a 59,020-square-foot shopping center located in Rock Hill, roughly 15 miles south of Charlotte, North Carolina. Food Lion and Dollar General anchor the property, which was 96 percent leased at the time of sale. Additional retailers at the center include Computer CPR, Exquisite Nails & Spa, Hair Savvy Salon, Big Wok II, Rock Hill Bagels & Deli, Ivy Rehab and ISI Elite Training. Riverview Commons marks ShopOne’s first acquisition …

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Kensington Valley Outlets
Investment salesMichiganNews

Time Equities, Lormax Stern Acquire 314,438-Square-Foot Retail Center in Howell, Michigan

by Abby Cox

Howell, Mich. — A partnership between New York City-based Time Equities Inc. (TEI) and Bloomfield Hills, Michigan-based Lormax Stern Development Co. has acquired Kensington Valley Outlets, a 314,438-square-foot retail center located in Howell. Formerly known as Tanger Outlets Howell, the property was originally built in 1996 and features a mix of tenants including H&M Outfitters; Old Navy; Nike Factory Store; Columbia; Banana Republic; GAP; Polo Ralph Lauren Factory Store; Famous Footwear; and Eddie Bauer. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith internally represented TEI while Andrew Bell, Matt Drozd, …

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Joshua Plaza
Investment salesNewsNorth Dakota

Marcus & Millichap Brokers Sale of 36,800-Square-Foot Retail Center in Minot, North Dakota

by Abby Cox

Minot, N.D. — Marcus & Millichap has brokered the $4.1 million sale of Joshua Plaza, a 36,800-square-foot retail center located in Minot. Timber Development Corp. sold the center, which the company developed in 2004. Eric Abbott and Zach Taylor of Marcus & Millichap’s Atlanta office represented Timber in the transaction.

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Investment salesNewsPower centersTexas

Kobalt Investment, Retail Connection Acquires 275,477-Square-Foot Retail Power Center in Sherman, Texas

by Abby Cox

Sherman, Texas — A partnership between Kobalt Investment Co. and The Retail Connection have acquired Sherman Commons, a 275,477-square-foot retail power center located in Sherman, roughly 40 miles north of the Dallas-Fort Worth metro. The acquisition also includes two vacant outparcels for future development. Kohl’s, Academy Sports + Outdoors, Five Below, Ulta Beauty, Office Depot and PetSmart anchors the property, which was 98 percent leased at the time of sale.

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Harvest Park Centre
Investment salesNewsPower centersTennessee

Halpern Enterprises Acquires 166,035-Square-Foot Retail Power Center in Knoxville, Tennessee

by Abby Cox

Knoxville, Tenn. — Atlanta-based Halpern Enterprises Inc. has acquired Harvest Park Centre, a 166,035-square-foot retail power center located in Knoxville. Marshalls, Ross Dress For Less and Five Below anchor the center, which was 97 percent leased at the time of sale. Additional retailers at the property include Old Navy, Ulta Beauty, Bath & Body Works, AT&T, Sports Clips and Sally Beauty Supply. Harvest Park Centre marks the firm’s second retail acquisition in Tennessee. Berkeley Capital Advisors represented the seller in the transaction.

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FloridaInvestment salesNews

El Car Wash Acquires Five New Locations in Orlando

by Abby Cox

Orlando, Fla. — El Car Wash has acquired five Wash City car washes in Orlando, advancing its goal of acquiring 90 sites nationwide by the end of 2025. With these additions, El Car Wash now operates 72 locations across Florida and Michigan, with 15 more scheduled to open this year. Each acquired property will undergo enhancements to align with the El Car Wash brand.

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4321–4323 8th St. S.
Investment salesNewsWisconsin

Marcus & Millichap Brokers $2.9 Million Sale of Retail Center in Wisconsin Rapids, Wisconsin

by Abby Cox

Wisconsin Rapids, Wis. — Marcus & Millichap has brokered the $2.9 million sale of a two-building, six-suite retail center located at 4321–4323 8th St. S. in Wisconsin Rapids. Clothing retailer Maurices and Mattress Firm anchor the property, which was fully leased at the time of sale. Built in 2007, the center sits on 1.6 acres and totals 10,900 square feet, according to LoopNet. Jeff Rowlett of Marcus & Millichap’s Milwaukee office marketed the property on behalf of the seller, Elm Holdings 1 LLC, in the transaction. Jesse Schluter of Wisconsin …

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