Seattle — Marcus & Millichap has arranged the $3.2 million sale of a gas station property located in the Ballard neighborhood of Seattle. Shell occupies the property on a net-lease basis. Hank Wolfer of Marcus & Millichap’s Seattle office represented the undisclosed seller in the deal.
Edmond, Okla. — Hanley Investment Group Real Estate Advisors has facilitated the $1.7 million sale of a single-tenant property located in Edmond, roughly 15 miles outside Oklahoma City. Salad and Go Drive-Thru occupies the 858-square-foot building, which is an outparcel to a Lowe’s. Jeff Lefko and Bill Asher of Hanley represented the seller, in association with Alex Apter of Location Commercial Real Estate and ParaSell Inc. Eric Fleske of Fleske Commercial Group represented the buyer, a private investor.
Oak Forest, Ill. — Mid-America Real Estate Corp. has arranged the sale of Oak Forest Commons, a 115,754-square-foot shopping center located in the Chicago suburb of Oak Forest. Rick Drogosz, Ben Wineman and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. First Tek acquired the center for an undisclosed price. The property was managed by Pine Tree on behalf of the seller.
San Antonio — A joint venture between Headwall Investments and SageView Partners has acquired The Colonnade Retail Center, a 126,549-square-foot shopping center located in San Antonio. Tenants at the property include Firehouse Subs, Great Clips, The Honey Baked Ham Co., First Watch and PJ’s Coffee of New Orleans. This marks the inaugural purchase for Headwall’s Shopping Center Fund II portfolio, a platform targeting unanchored convenience retail centers in major Texas metros.
Harrisburg, Pa. — The Kislak Co. has brokered the $4.6 million sale of Uptown Plaza, a 156,066-square-foot retail center located in Harrisburg. Built in 1957 on 14 acres, the property features 30 storefronts. Tenants at the center include H&R Block, Metro PCS, McDonald’s and Save-a-Lot. Robert Holland and Barry Waisbrod of Kislak arranged the sale on behalf of the seller, Town Associates. America’s Realty purchased the property.
Colorado Springs, Colo. — M & J Wilkow and MetLife Investment Management have acquired Chapel Hills East in Colorado Springs, marking the fifth joint venture for the companies. Whole Foods Market anchors the retail center, which totals 225,000 square feet. Other tenants at the property, which was fully leased at the time of sale, include Nordstrom Rack, Best Buy, DSW, Old Navy, Barnes & Noble and Office Depot. The center was developed in 1995 and 1996.
Lake Worth, Texas —Vista Property has purchased Lake Worth Marketplace, a 197,553-square-foot shopping center located in Lake Worth, on the northwestern outskirts of Fort Worth. Built in phases between 2005 and 2007, the center was 93 percent leased at the time of sale to tenants including Kohl’s, Marshalls, Burlington, pOpshelf, Lane Bryant and Bath & Body Works. Barry Brown, Chris Gerard, Erin Lazarus, Keenan Ryan and Ben Pollack of JLL represented the undisclosed seller in the transaction.
Ocala, Fla. — SRS Real Estate Partners has brokered the $3.7 million sale of a 6,119-square-foot gas station and convenience store situated on 2.3 acres in Ocala, a city in Central Florida. Wawa occupies the newly constructed property on a 20-year, corporate-guaranteed ground lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based development firm, in the transaction. An undisclosed, privately held buyer purchased the property in a 1031 exchange.
Chattanooga, Tenn. — Marcus & Millichap has brokered the $3.6 million sale of Brainerd Market Center, a 44,800-square-foot retail center located in Chattanooga. The property was 80 percent leased at the time of sale. Situated two miles from Chattanooga Metropolitan Airport, Brainerd Market Center is shadow-anchored by a Walmart Supercenter and is adjacent to East Gate Town Center. Zach Taylor of Marcus & Millichap represented the seller, an undisclosed Tennessee-based developer, in the transaction. Jody McKibben, Marcus & Millichap’s broker of record in Tennessee, assisted in closing the transaction.
Johns Creek, Ga. — Toro Development Co. has acquired 43 acres in the northern Atlanta suburb of Johns Creek for its upcoming Medley mixed-use development. Toro purchased the parcel for $44 million. Currently, the property features a four-story office building, as well as the site of another, demolished office building and surface parking. Plans for Medley include 200,000 square feet of retail, restaurant and entertainment space, in addition to office and residential space and a central green space. Tenants at the development will include Ford Fry’s Little Rey, CRÚ Food & …
