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Investment sales

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Company newsInvestment salesNew YorkNews

Investor Group Offers $5.8 Billion Buyout of Venerable Retailer Macy’s

by Hayden Spiess

New York City — An investor group comprising Arkhouse Management and Brigade Capital Management has made a bid to buy out Macy’s (NYSE: M) for $5.8 billion, according to The Wall Street Journal. The offer from two of the retailer’s largest shareholders would include taking the company private. Real estate investment firm Arkhouse and global asset manager Brigade submitted the acquisition proposal Dec. 1, according to the publication. Macy’s boasts a total real estate portfolio value of $8.5 billion, according to J.P. Morgan analysts cited by Reuters.  Equating to $21 per share, the …

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ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $33 Million Sale of Hilltop Commons in Connecticut

by Hayden Spiess

Derby, Conn. — CBRE has arranged the $33 million sale of Hilltop Commons, a newly redeveloped retail center located in Derby. Biy Y, CVS/pharmacy, Dollar Tree and American Freight anchor the property. Other tenants at the center include Verizon, AT&T, McDonald’s, Wendy’s and Sherwin Williams. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, DLC And Hutensky Capital Partners, in the transaction. Kempner Properties and Lee & Associates NYC acquired the property. 

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FloridaInvestment salesNews

Marcus & Millichap Brokers $6.5 Million Sale of Robbinswood Plaza in Florida

by Hayden Spiess

Gainesville, Fla. — Marcus & Millichap has brokered the $6.5 million sale of Robbinswood Plaza, a 13,218-square-foot retail center located in Gainesville. Tenants at the property, which was fully leased at the time of sale, include Chipotle Mexican Grill and Trulieve. Reid Thedford and Evan Cannan of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller. 

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IllinoisInvestment salesNews

JLL Brokers Sale of 125,826-Square-Foot Retail Center in Metro Chicago

by Hayden Spiess

Aurora, Ill. — JLL Capital Markets has brokered the sale of Aurora Commons, a 125,826-square-foot retail center located in Aurora, roughly 40 miles outside Chicago. Built in 1988, the property was 75 percent leased at the time of sale. Tenants at the center include Five Below, Dollar Tree, T-Mobile and H&R Block. Michael Nieder, Keely Polczynski and Caity Tirakian of JLL represented the seller, IRC Retail Centers, in the transaction. Sperry Equities acquired the property for an undisclosed price. 

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Investment salesMississippiNews

Marcus & Millichap Arranges Sale of 107,288-Square-Foot Barnett Plaza Shopping Center in D’Iberville, Mississippi 

by Hayden Spiess

D’Iberville, Miss. — Marcus & Millichap has arranged the sale of Barnett Plaza, a 107,288-square-foot shopping center located in D’Iberville. Constructed in phases between the late 1970s and 2008, the property is situated on 13.8 acres. Tenants at the center include Crunch Fitness and Saad Health Care. Andrew Chason and Stephen Sewell of Marcus & Millichap represented the undisclosed seller in the transaction. Mickey Davis assisted as the firm’s broker of record in Mississippi. 

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Investment salesNewsWisconsin

Mid-America Arranges Sale of 114,221-Square-Foot Westhill Plaza Shopping Center in Appleton, Wisconsin

by Hayden Spiess

Appleton, Wis. — Mid-America Real Estate Corp. has arranged the sale of Westhill Plaza, a 114,221-square-foot shopping center located in Appleton. Tenants at the property, which was 93 percent leased at the time of sale, include Burlington, Boot Barn and Party City. Rick Drogosz, Emily Gadomski and Dan Rosenfeld of Mid-America represented the seller, CRG Investments. Brookwood Capital Advisors acquired the center. 

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IllinoisInvestment salesNews

Quantum Brokers $7.1 Million Sale of Retail Center in Metro Chicago

by Hayden Spiess

Naperville, Ill. — Quantum Real Estate Advisors Inc. has brokered the $7.1 million sale of Design Pointe, a 78,000-square-foot retail center located in the Chicago suburb of Naperville. At the time of sale, the property was 95 percent leased to tenants including Studio 41, Brain Balance and Fancy Free Holidays. Brett Berlin of Quantum represented the seller, an Illinois-based investor, in the transaction. 

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CaliforniaCompany newsConnecticutInvestment salesLeasingMarylandMichiganNew JerseyNew YorkNewsOhioOregonPennsylvaniaVirginiaWashington

A&G to Sell 79 Rite Aid Leases in 11 States

by Hayden Spiess

Camp Hill, Pa. — A&G Real Estate Partners will market 79 Rite Aid store leases for sale, in its capacity as real estate advisor to the company, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Part of Rite Aid’s financial restructuring process, this marks the third tranche of leases to be sold and follows a set of 92 store leases that became available in November. Ranging from 5,502 to 31,468 square feet, the leases are located in 11 states, including California, Connecticut, Maryland, Michigan, New Jersey, …

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Grocery-anchoredInvestment salesNewsPennsylvania

IPA Brokers $17.8 Million Sale of Retail Center in Allentown, Pennsylvania

by Hayden Spiess

Allentown, Pa. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $17.8 million sale of Dorneyville Shopping Center, a 101,651-square-foot retail center located in Allentown. Aldi anchors the property, which was 86 percent leased at the time of sale. Brad Nathanson and JP Colussi of IPA represented the seller, Joshi Hotel Group, in the transaction. LS Property acquired the center. 

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Investment salesNewsPennsylvania

Matthews Arranges $5.2 Million Sale of Retail Strip Center in Philadelphia

by Hayden Spiess

Philadelphia —Matthews Real Estate Investment Services has arranged the $5.2 million sale of located in Philadelphia. Built in 2015 and situated on two acres, the property comprises 10,640 square feet. The center was fully occupied by Rise Dispensary and Fine Wine & Good Spirits at the time of sale. Alexander Machado, Daniel Gonzalez, Robert Goldberg and Ben Snyder of Matthews brokered the transaction. 

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