Phoenix — Matthews Real Estate Investment Services has arranged the $9.5 million sale of a retail property located in Phoenix. Built in 2002 on 5.13 acres, the building comprises 45,000 square feet. LA Fitness occupies the property. The tenant’s current lease extends through 2025. Brandon Perez of Matthews represented the seller in the deal.
Camp Hill, Penn. — Rite Aid will sell an additional 92 store leases as part of its financial restructuring, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Ranging from 5,000 to 33,548 square feet, the stores are located in California, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania and Washington. A&G Real Estate Partners, real estate advisor to the company, will broker the transactions in the form of private sales. The leases comprise the second tranche to be sold, and more leases are expected to be …
San Antonio — MIMCO has acquired Walzem Plaza, a 182,713-square-foot shopping center located in San Antonio. Tenants at the property include Harbor Freight Tools, 99 Cents Only, Footlocker, WellMed, Citi Trends and Wingstop.
Huntsville, Ala. — Legacy Realty Group Advisors has brokered the sale of an 18,300-square-foot retail center located in Huntsville. IGA anchors the property. Daniel Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Garfield Heights, Ohio and Niles, Ill. — Nassimi Realty has acquired two retail centers totaling 500,000 square feet in Ohio and Illinois for a combined $30 million. Located in Garfield Heights, Ohio, the first property, Turney Town Plaza, is leased to tenants including Dave’s Market, Advance Auto Parts and Sherwin Williams. Four Flaggs in Niles, Illinois, is anchored by Fresh Farms, Marshalls, Ashley Furniture and Old Navy.
Pahoa, Hawaii — CBRE has brokered the $8.3 million sale of Pahoa Marketplace, a retail center located in Pahoa on the island of Hawaii. Built in 2004, the property comprises 43,330 square feet situated on 8.4 acres. Jim Shipman and Matt Bittick of CBRE represented the seller, Walker Apartments, in the transaction.
Palm Desert, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.3 million sale of a retail pad located in Palm Desert. Situated within Monterey Crossing, the property comprises 8,370 square feet. Built in 2022, the pad was fully leased at the time of sale. Tenants at the property include Jersey Mike’s Subs, Nekter Juice Bar, Roll-Em-Up Taquitos, Mathnasium and Keith Alexander, DDS. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Fountainhead Development, in the transaction. Yoram Katz of Peak Commercial represented the buyer, a …
San Gabriel, Calif. — Cushman & Wakefield has arranged the $10 million sale of Las Tunas Plaza, a shopping center in San Gabriel, an eastern suburb of Los Angeles. Situated on 1.3 acres, the property totals 17,473 square feet. Tenants at the center, which was 90 percent leased at the time of sale, include 7-Eleven, Golden Deli and Bopomofo Café. Joseph Lising, Mitchell Neff and Maureen Gitto of Cushman & Wakefield represented the seller in the transaction.
Charleston, S.C. — A joint venture between an affiliate of Pine Tree and Blue Coast Capital has acquired Azalea Square, a 270,000-square-foot retail center located in Charleston. Tenants at the property include TJ Maxx, Ross Dress for Less, Ulta Beauty, Five Below, Dick’s Sporting Goods, Petsmart and Best Buy. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, AEW Capital Management, in the transaction. Draper & Kramer arranged acquisition financing through Nationwide Insurance on behalf of the buyers.
Newtown, Conn. — Arrowhead Properties has purchased a 17,557-square-foot shopping center located on Church Hill Road in Newtown. An entity doing business as Church Hill & Queen LLC sold the property for $3.4 million. Bruce Wettenstein of Vidal/Wettenstein represented the seller in the transaction. Joe Wrinn and Garett Palmer of Coldwell Banker Commercial represented Arrowhead.
