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Investment sales

Strawflower-Village-Half-Moon-Bay-CA
CaliforniaGrocery-anchoredInvestment salesNews

Matthews Negotiates $34 Million Sale of Shopping Center in Metro San Francisco

by Hayden Spiess

Moon Bay, Calif. — Matthews Real Estate Investment Services has arranged the sale of Strawflower Village Shopping Center, a 78,940-square-foot retail center located in Moon Bay, approximately 30 miles south of San Francisco. A 33,000-square-foot Safeway anchors the center, which was 96 percent leased at the time of sale. Other tenants include T-Mobile, Chase Bank and US Bank. SJ Amoroso Properties Co. acquired the property from HMB Musich LLC for $34 million. Marko Buljan of Matthews represented the seller in the transaction. Tim Gilmartin of The Gilmartin Group represented the buyer.

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Crescent-City-Plaza
FloridaGrocery-anchoredInvestment salesNews

CrossMarc Services Acquires 47,945-Square-Foot Shopping Center in Florida

by Hayden Spiess

Crescent City, Fla. — CrossMarc Services LLC has purchased Crescent City Plaza, a 47,945-square-foot shopping center located in Crescent City, for $2.7 million. Built in 1974 and remodeled in 2019, the property is leased to tenants including Save-A-Lot and Family Dollar. Situated on 7.6 acres, the center also features a parcel for future outparcel development. Jimmy and Leo Island Properties was the seller. CrossMarc Services will handle leasing and management at the property.

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Karma Shopping Center
Grocery-anchoredInvestment salesLouisianaNews

SRS Arranges Sale of 100,120-Square-Foot Karam Shopping Center in Louisiana

by Hayden Spiess

Lafayette, La. — SRS Real Estate Partners has arranged the sale of Karam Shopping Center, a 100,120-square-foot retail center located in Lafayette. Tenants at the property include Super 1 Foods, which is currently undergoing a $7 million renovation, and dd’s DISCOUNTS. Mishra Group acquired the center from TCP Realty Services for an undisclosed price. Kyle Stonis and Pierce Mayson of SRS represented the seller, with Jonathan Walker of Maestri-Murrell Inc. 

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Powell-Center_Lewis-Center-Ohio
ArizonaColoradoInvestment salesNew JerseyNew YorkNewsOhio

DLC, DRA Acquire Four Retail Centers for $100 Million 

by Hayden Spiess

Elmsford, N.Y. — A joint venture between New York-based DLC Management Corp. and funds managed by DRA Advisors has acquired a portfolio of retail centers for $100 million. The portfolio comprises four properties located in Colorado, New Jersey, Arizona and Ohio. Located in Aurora, Colorado, Cornerstar totals 380,479 square feet and is anchored by Target, Marshalls, HomeGoods, 24 Hour Fitness, Nike and Ulta Beauty. Cross Keys Place in Sewell, New Jersey, comprises 147,694 square feet and is anchored by Michaels, Old Navy, Petco and Edge Fitness. The Shops at Prescott Gateway …

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Wando-Crossing_Mt-Pleasant-S.C
Investment salesNewsSouth Carolina

ZRP Acquires Wando Crossing in South Carolina for $46.8 Million 

by Hayden Spiess

Mount Pleasant, S.C. — Ziff Real Estate Partners (ZRP) has acquired Wando Crossing, a retail center located in Mount Pleasant, for $46.8 million. Marshalls/HomeGoods, TJMaxx, Total Wine & More, Petco, Ashley HomeStore, Michaels and Five Below anchor the property, which totals 214,029 square feet. Site Centers Corp. was the seller. 

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Kelleytown Village
GeorgiaGrocery-anchoredInvestment salesNews

Franklin Street Arranges Sale of 66,387-Square-Foot Shopping Center in Metro Atlanta

by Hayden Spiess

McDonough, Ga. — Franklin Street has arranged the sale of Kelleytown Village, a 66,387-square-foot shopping center located at 3500 Highway 155 North in McDonough, roughly 30 miles southeast of Atlanta. Publix anchors the property, which was constructed in 2022. Other tenants at the center include Your Pie, Allure Nails, UPS and 100% Chiropractic. Bryan Belk and John Tennant of Franklin Street represented the seller, Georgia- and Alabama-based Venture South Investments, in the transaction. The buyer and sales price were not disclosed. 

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Manhattan Town Center
Investment salesKansasNews

RockStep Acquires 367,000-Square-Foot Manhattan Town Center in Kansas

by Hayden Spiess

Manhattan, Kan. — RockStep Capital has acquired Manhattan Town Center, a 367,000-square-foot shopping center located in Manhattan. Developed in 1987, the property features more than 50 shops and restaurants within a single, enclosed level layout. Tenants include Dillard’s, JCPenney and an AMC Dine-In IMAX Theater. 

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Shoppes-at-Kingsgate_Houston
Grocery-anchoredInvestment salesNewsTexas

Marcus & Millichap Arranges Sale of 156,343-Square-Foot Retail Center in Houston

by Hayden Spiess

Houston — Marcus & Millichap has arranged the sale of Shoppes at Kingsgate, a 156,343-square-foot retail center located in Houston. Built in 1980 and renovated in 2013, the center was 95 percent occupied at the time of sale. Aldi anchors the property, which is situated within the Kingwood master-planned community. Other tenants include Cell Doc, Binh’s Tailor, Trademark Kitchen & Bath, The Mint National Bank, Schlotzky’s and On the Park Toy Store. Philip Levy and Chris Gainey of Marcus & Millichap represented the seller in the transaction. 

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910-Anderson-Dr-San-Rafael-CA
CaliforniaInvestment salesNet leaseNewsRestaurants

JLL Capital Markets Negotiates $3.3 Million Sale of Single-Tenant Restaurant Property Metro San Francisco

by Hayden Spiess

San Rafael, Calif. — JLL Capital Markets has negotiated the $3.3 million sale of a single-tenant building located in San Rafael, roughly 20 miles outside San Francisco. El Pollo Loco, a fast-casual restaurant chain, occupies the 2,626-square-foot building on a triple-net-lease basis, with 13 years remaining on the lease. Eric Kathrein and Warren McClean of JLL brokered the transaction. El Pollo Loco occupies the building in San Rafael, California. 

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Springfield-Commons_Springfield-Ill
IllinoisInvestment salesNews

Marcus & Millichap Brokers $3.9 Million Sale of Retail Center in Springfield, Illinois

by Hayden Spiess

Springfield, Ill. — Marcus & Millichap has brokered the $3.9 million sale of Springfield Commons, a retail center in Springfield. The property totals 15,680 square feet. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Steven Weinstock assisted in closing the sale as Marcus & Millichap’s Illinois broker of record. 

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