West Nyack, N.Y. — Affiliated funds of Stamford, Connecticut-based Black Diamond Capital Management have acquired Palisades Center, a 2.3 million-square-foot shopping center in West Nyack, approximately 18 miles north of Manhattan. Black Diamond purchased the property’s underlying debt for $175 million in a foreclosure auction last week, according to the Rockland Business Journal. The previous owner, Pyramid Management Group, defaulted on the $400 million mortgage in early 2020. Syracuse, New York-based Spinoso Real Estate Group will continue serving as the property’s operating partner. As of December 2022, Palisades Center was the …
Wallingford, Conn. — CBRE has arranged the $21.4 million sale of Wallingford Fair Shopping Center, a 115,000-square-foot grocery-anchored center located in Wallingford, approximately 25 miles south of Hartford. ShopRite anchors the property, which also features a self-storage facility and a Petco store. Nat Heald, Jordana Roet, Connor Scott and Kyle Juszczyszyn of CBRE represented the seller, Feldco Development Corp., and procured the buyer, United Hampshire US REIT, in the transaction.
Zephyrhills, Florida — Franklin Street has brokered the $6.4 million sale of Oakview Plaza, a 47,000-square-foot retail center located in Zephyrhills, roughly 30 miles northeast of Tampa. Justin Walker, Justin Sturdivant and Dylan Morse of Franklin Street represented the seller, South Florida-based Merrimac Ventures, in the transaction. New York-based New Hyde Park Fruit Corp. was the buyer. Originally built in 1990, the center will undergo façade improvements, parking lot enhancements and lighting updates. The property’s Winn-Dixie store is also being redeveloped into an Aldi that will act as co-anchor to …
Corpus Christi, Texas — Disney Investment Group (DIG) has arranged the sale of Moore Plaza, a 379,035-square-foot power center in Corpus Christi. The center features a roster of 40 tenants including Hobby Lobby, Mardel, Marshalls, Burlington, Old Navy, Office Depot, Total Wine & More, Half Price Books and Pet Supplies Plus. David Disney and Adam Crockett of DIG represented the undisclosed seller in the transaction and procured the buyer, Chicago-based investment firm Bridge33. The deal follows DIG’s closing of the sale of Huntington Square, a 90,768-square-foot shopping center in Corpus Christi, …
San Francisco — TMG Partners and equity partner Bridges Capital LLC have acquired Metreon, a 320,000-square-foot, vertically oriented shopping center in downtown San Francisco. Built in 1999, the retail and entertainment destination is anchored by Target and a 16-screen AMC Theatres that features the tallest IMAX screen in North America. Locally based TMG and Bridges Capital purchased the four-story property from Acore Capital in a deed-in-lieu transaction. The sales price was not disclosed. The City and County of San Francisco will continue to retain ownership of Metreon’s ground lease through …
Olmsted Township, Ohio — Legacy Realty Group Advisors has arranged the $6.4 million sale of Kingston Corners, a 57,275-square-foot shopping center in Olmsted Township, approximately 20 miles southwest of Cleveland. Jacob Baruch, Daniel Baruch and Ari Warshaw of Legacy Realty Group Advisors represented both the buyer and seller in the off-market transaction. Shaker’s Marketplace anchors the property, which was fully occupied at the time of sale, according to Loop Net. Built in 1985, Kingston Corners sits on nearly 5 acres.
Cedartown, Ga. — Marcus & Millichap has brokered the $5.3 million sale of a 30,600-square-foot shopping center located at 1583 Rome Highway in Cedartown, roughly 70 miles northwest of Atlanta. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, a private local investor, in the transaction. Situated on nearly 5.5 acres, the shopping center was fully leased to 11 tenants at the time of sale including Dollar Tree, AT&T, Cato Fashions, Shoe Show, Little Caesars and Amedisys. The property has recently undergone renovations such as the addition of a new parking …
Linden, N.J. — NAI DiLeo-Bram & Co. (NAIDB) has negotiated the $4.5 million sale of a single-tenant retail property located in the northern New Jersey community of Linden. The 3,650-square-foot gas station and convenience store was formerly occupied by Speedway. Jennifer Harrison of NAIDB represented the buyer, Rona 22 LLC, which is doing business as Fuel One. Glenn Beyer of Newmark and Justin Glenn of Excess Space represented the seller, Speedway LLC, in the transaction. Fuel One plans to continue operating the location as a fuel and convenience center and expects …
Monroe, N.C. — Legacy Realty Group Advisors has brokered the sale of Sunset Plaza, a 58,477-square-foot shopping center located in Monroe, approximately 30 miles southeast of Charlotte. Food Lion anchors the property, which features a mix of additional tenants including Family Dollar, Monster Mini Golf and Monroe Family Pharmacy. Built in 1976 and renovated in 2023, Sunset Plaza sits on nearly 5 acres. Jacob Baruch and Daniel Baruch of Legacy Realty Group Advisors represented both the buyer and seller in the transaction.
Stamford, Conn. — CBRE has negotiated the sale of a 153,416-square-foot shopping center located in the southern coastal Connecticut city of Stamford. Whole Foods Market and Saks OFF Fifth anchor the center at 110 High Ridge Road, which is a redevelopment of a former Lord & Taylor department store into a multi-tenant center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, HBS Global Properties, in the transaction. The trio also procured the buyer, an entity doing business as 110 High Ridge Road LLC.