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Investment sales

Milwaukie Marketplace
Grocery-anchoredInvestment salesNewsOregon

Northmarq Brokers $39 Million Sale of Retail Center in Milwaukie, Oregon

by Abby Cox

Milwaukie, Ore. — Northmarq has brokered the $39 million sale of Milwaukie Marketplace, a multi-tenant retail center located in Milwaukie, approximately six miles outside Portland. Built in 1989, the center comprises four buildings across nine parcels and totals 185,760 square feet. New Seasons Market anchors the center. Additional tenants at the property include Planet Fitness, Ace Hardware, Dollar Tree, Pietro’s Pizza, UPS, Subway, Taco Bell and Starbucks Coffee. Multiple Letters of Intent (LOI) have been signed on the vacant tenant spaces. Kevin Adatto, Sean Tufts, Scott Frank and Joe Dugoni …

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Century Square
Investment salesNewsPennsylvania

Red Mountain Group Acquires 415,613-Square-Foot Shopping Center in West Mifflin, Pennsylvania

by Abby Cox

West Mifflin, Pa. — Red Mountain Group Inc. has acquired Century Square, a 415,613-square-foot regional shopping center located in West Mifflin, roughly 11 miles southeast of downtown Pittsburgh. Built in 1990 and renovated in 2016, the center is 82 percent leased. Anchors at the center include Lowe’s Home Improvement, Hobby Lobby, SHOP’n SAVE, Dunham’s Sports, Luxury Cinemas and Planet Fitness. The sales price was not disclosed.

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Mall Plaza
Investment salesMaineNews

Newmark Arranges $19.8 Million Sale of Shopping Center in South Portland, Maine

by Abby Cox

South Portland, Maine — Newmark has arranged the $19.8 million sale of Mall Plaza, a 153,576-square-foot shopping center in South Portland. The center totals 153,576 square feet and includes anchor Dick’s Sporting Goods and junior anchor Petco. Located across the street from Maine Mall, the property features five pad sites, four of which are occupied by Burger King, Verizon, Maine Community Bank and Friendly’s. The plaza was 83 percent leased at the time of sale. Robert Griffin, Jonathan Martin and Paul Penman of Newmark’s Boston Capital Markets team and Mackenzie …

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Muncie Town Plaza
IndianaInvestment salesNews

Regency Properties Acquires 173,773-Square-Foot Retail Center in Muncie, Indiana

by Abby Cox

Muncie, Ind. — Evansville, Indiana-based Regency Properties has acquired Muncie Towne Plaza, a 173,773-square-foot shopping center in Muncie. Developed in 1997 and renovated in 2005, Muncie Towne Plaza was fully leased at the time of sale. Tenants at the property include Kohl’s, T.J. Maxx, Old Navy, Ulta Beauty and Shoe Carnival. The property includes a 1.1-acre undeveloped land site immediately adjacent to Old Navy, which Regency plans to develop into a single- or multi-tenant space. The parcel can accommodate a 50,000-square-foot development. The purchase price and seller were not disclosed.

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Douglas Square
Investment salesMissouriNews

Prudent Growth Acquires Shopping Center in Lee’s Summit, Missouri for $11.6 Million

by Abby Cox

Lee’s Summit, Mo. — North Carolina-based Prudent Growth Partners LLC, has acquired Douglas Square, a 59,451-square-foot shopping center in the Kansas City suburb of Lee’s Summit, for $11.6 million. Built in 1999, the four-building property features a combination of 18 local and national tenants including medical, restaurant and service-oriented businesses. The property was 74 percent leased at the time of sale. The seller was not disclosed.

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165 E. Hospitality Lane
CaliforniaInvestment salesNews

Progressive Arranges $6.8 Million Sale of Multi-Tenant Property in San Bernardino, California

by Abby Cox

San Bernardino, Calif. — Progressive Real Estate Partners has arranged the $6.8 million sale of a multi-tenant commercial flex center located at 165 E. Hospitality Lane in San Bernardino. The 44,290-square-foot property comprises two buildings with suites ranging in size from 950 square feet to 1,930 square feet. Originally built in 1980, the center has been recently renovated. The center — which was 93 percent leased at the time of sale — features 24 tenants including retail, restaurant, healthcare, education, fitness, finance and office businesses. Situated in the Tri-City Commons/Hospitality …

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Chipotle Mexican Grill
CaliforniaDevelopmentInvestment salesLeasingNews

Hanley Arranges $5.9 Million Sale of Single-Tenant Retail Property in Torrance, California

by Abby Cox

Torrance, Calif. — Hanley Investment Group has arranged the $5.9 million sale of a newly-constructed, single-tenant property in Torrance, in the South Bay area of Los Angeles. Chipotle Mexican Grill occupies the building — which totals 3,570 square feet — on a 15-year, corporate guaranteed, triple-net lease. Bill Asher, Jeff Lefko and Sean Cox of Hanley represented the buyer, a Los Angeles-based private investor, in the all-cash transaction. Christopher Huddleston of The Sher Group represented the seller, a Los Angeles-based private investor.

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CaliforniaInvestment salesNews

CBL Properties Sells Shopping Center for $38.1 Million in El Centro, California

by Abby Cox

El Centro, Calif. — CBL Properties has sold Imperial Valley Mall, a 762,695-square-foot regional mall located in El Centro, for $38.1 million. The property served as collateral under a non-recourse term loan held by CBL, where net proceeds from the sale were applied to the term loan’s principal balance. The shopping center — which opened in 2005 — is anchored by Dillard’s, JCPenney, Macy’s and Cinemark, and features a food court, more than 100 specialty shops and dining and entertainment options. CBL & Associates manages the retail center.

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Bloomingdale Shopping Center
IllinoisInvestment salesNews

Quantum Real Estate Brokers $4.2 Million Sale of Shopping Center in Bloomingdale, Illinois

by Abby Cox

Bloomingdale, Ill. — Quantum Real Estate Advisors has brokered the $4.2 million sale of a shopping center located in Bloomingdale, roughly 25 miles northwest of downtown Chicago. The property — which totals 25,000 square feet — was 95 percent leased at the time of sale. Brett Berlin of Quantum Real Estate represented the undisclosed seller in the transaction. The buyer was an Illinois-based private investor.

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St. Francis Marketplace
GeorgiaInvestment salesNews

ZRP Sells 63,607-Square-Foot Shopping Center in Columbus, Georgia

by Abby Cox

Columbus, Ga. — Mount Pleasant, South Carolina-based Ziff Real Estate Partners (ZRP) has sold St. Francis Marketplace, a 63,607-square-foot shopping center located in Columbus. Planet Fitness anchors the center. Other tenants at the property include Rent-A-Center, Kool Smiles, Franklin Dental & Braces and Jersey Mike’s Subs. ZRP originally acquired the center in 2015 and has completed various upgrades to the property over the past 10 years. Steve Collins and Brent Hadden of The Palomar Group represented ZRP in the transaction. The buyer and sales price were not disclosed.

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