Investment sales

Pavilions at San Mateo
Grocery-anchoredInvestment salesNew MexicoNews

Faris Lee Investments Brokers $24.9 Million Sale of Retail Center in Albuquerque, New Mexico

by Abby Cox

Albuquerque, N.M. — Faris Lee Investments has brokered the $24.9 million sale of Pavilions at San Mateo, a 148,749-square-foot retail center in Albuquerque. Originally built in 1997, the center is 92 percent leased and anchored by Walmart Neighborhood Market. Additional tenants at the property include Old Navy, Shoe Dept., Dollar Tree, Einstein Bros. Bagels, Supercuts and Orangetheory Fitness. Don MacLellan, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the buyer, Las Vegas-based Rhino Investments Group, in the transaction.

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Architecture and DesignDevelopmentFloridaInvestment salesMixed-useNews

Ardent Acquires 1.1 Million-Square-Foot Seminole Towne Center Mall in Florida, Plans Redevelopment

by Abby Cox

Sanford, Fla. — Atlanta-based The Ardent Co. (Ardent) has acquired Seminole Towne Center Mall, a 1.1 million-square-foot regional mall located in Sanford, with plans to develop the property into a mixed-use development. According to several local media outlets, Ardent purchased the center from Hollywood, Florida-based 4th Dimension Properties for roughly $17.5 million. While plans for the 76-acre property will include the addition of new retailers, multifamily housing and a hotel, the center’s four anchor tenants — Dillard’s, JCPenney, Dick’s Sporting Goods and Elev8 — will remain at the property. The …

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Centre Point Plaza
Investment salesNewsNorth Carolina

Legacy Realty Group Arranges Sale of 159,259-Square-Foot Retail Center in Smithfield, North Carolina

by Abby Cox

Smithfield, N.C. — Legacy Realty Group Advisors has arranged the sale of Centre Pointe Plaza, a 159,259-square-foot retail center in Smithfield, approximately 30 miles southeast of Raleigh. An undisclosed buyer purchased the property for $11.6 million. Originally built in 1989, the shopping center is anchored by Belk. Additional tenants at the property include Bealls, Dollar Tree, Hibbett Sports, Subway and T-Mobile. Daniel Baruch of Legacy Realty Group represented the buyer. Steve Shields of CBRE represented the undisclosed seller in the transaction.

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CaliforniaGrocery-anchoredInvestment salesNews

Westar Associates Sells 96,390-Square-Foot Shopping Center in Monrovia, California

by Abby Cox

Monrovia, Calif. — Newport Beach, California-based Westar Associates has sold Foothill Park Plaza, a 96,390-square-foot shopping center located in Monrovia, approximately 15 miles northeast of Los Angeles. The center — which was developed in 1985 — is anchored by Vons Supermarket. Other tenants at the property include Chase Bank, Wendy’s, Blaze Pizza, Baskin-Robbins and See’s Candles. Pete Bethea, Rob Ippolito and Glen Rudy of Newmark represented Westar Associates in the transaction. Phillips Edison & Company was the buyer. Westar Associated has owned, leased and managed Foothill Park Plaza for the last …

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Hatchery Hill Towne Center
Grocery-anchoredInvestment salesNewsWisconsin

Mid-America Real Estate Brokers Sale of 85,880-Square-Foot Retail Property in Fitchburg, Wisconsin

by Abby Cox

Fitchburg, Wis. — Mid-America Real Estate Corp. has brokered the sale of Hatchery Hill Towne Center, an 85,880-square-foot retail property located in the Madison suburb of Fitchburg. The center — which was fully leased at the time of sale — is shadow-anchored by Pick ‘n Save. Additional tenants at the property include Panera Bread, Verizon Wireless, Cold Stone Creamery, MOD Pizza, Great Dane Pub & Brewing Co., Anytime Fitness, Kim’s Nails and Tabby & Jack’s Pet Supplies. Rick Drogosz and Dan Rosenfeld of Mid-America Real Estate Corp. represented the seller, …

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Legends Pointe
FloridaInvestment salesMixed-useNews

Marcus & Millichap Brokers $11.3 Million Sale of Mixed-Use Property in Clermont, Florida

by Abby Cox

Clermont, Fla. — Marcus & Millichap has brokered the $11.3 million sale of Legends Pointe, a two-building mixed-use retail and medical office property located in Clermont, approximately 22 miles west of Orlando. Originally built in 2006, the recently renovated property is situated on 4.3 acres and totals 47,418 square feet. Legends Pointe comprises 18 office suites and 10 retail units. Yassin Benkabbou and Salim Valiani of Marcus & Millichap’s Orlando office, represented the seller, a local LLC, in the transaction.  

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Commerce Plaza
Investment salesNewsTexas

STRIVE Arranges Sale of 6,270-Square-Foot Retail Center in Commerce, Texas

by Abby Cox

Commerce, Texas — STRIVE has arranged the sale of Commerce Plaza, a 6,270-square-foot retail center in Commerce. The property was fully leased at the time of sale. Will Schubert of STRIVE represented the seller while Hudson Lambert and Harrison Beethe represented the buyer, both local Texas investors, in the transaction. Additional terms of the sale were not disclosed.

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Bensalem Shopping Center
Grocery-anchoredInvestment salesNewsPennsylvania

JLL Facilitates Sale of 109,057-Square-Foot Retail Center in Metro Philadelphia

by Abby Cox

Bensalem, Pa. — JLL Capital Markets has facilitated the sale of Bensalem Shopping Center, a 109,057-square-foot retail center in Bensalem, roughly 19 miles north of Philadelphia. The buyer and sales price were undisclosed. Built in 1972, the center is situated on approximately 9 acres. The property — which was fully leased at the time of sale — is anchored by Indian supermarket chain Patel Brothers. Additional tenants at the center include Dollar General, Advance Auto Parts and Unlimited PCS. Jim Galbally and Patrick Higgins of JLL Capital Market’s Investment and …

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FloridaInvestment salesNews

Franklin Street Arranges $86.3 Million Sale of Retail Portfolio in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — Tampa-based Franklin Street has arranged the sale of a six-property retail portfolio in Jacksonville for $86.3 million. Curbline Properties Corp. (CURB) was the buyer. The deal marks CURB’s largest acquisition to date. The portfolio totals 184,680 square feet and includes Carrie Plaza, Deerwood Station, Julington Square, Southlake Plaza, Roosevelt Plaza and Oakleaf Crossing. Bryan Belk and John Tennant of Franklin Street represented the seller, a local private investor, in the transaction.

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