Arvada, Colo. — Pinnacle Real Estate Advisors has brokered the $10.1 million sale of a multi-tenant retail property located in Arvada, roughly 10 miles outside Denver. The property totals 41,163 square feet. Corey Sandberg and Jeff Johnson of Pinnacle represented the seller in the transaction.
Salisbury, Md. — SVN | Miller Commercial Real Estate has arranged the sale of a single-tenant retail property located in Salisbury. The property, which totals 13,824 square feet and features a drive-thru, was formerly occupied by Rite Aid, which vacated the site in September 2023. Tonney Insley and Ryan Finnegan of SVN | Miller represented the seller in the transaction. Christopher Zamias of CCN Real Estate represented the buyer, an undisclosed retail chain.
Hamilton Township, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Hamilton Marketplace, a 485,094-square-foot shopping center located in Hamilton Township. A 65,155-square-foot ShopRite anchors the property, which was constructed in phases beginning in the early 2000s. Other tenants at the center include Kohl’s, Ross Dress for Less, Staples, Barnes & Noble, Michaels, Old Navy, Ulta Beauty, Burlington and PetSmart. Paramount Realty acquired the property from SITE Centers for $116.5 million. Brad Nathanson and JP Colussi of IPA represented the seller in the …
Houston and Pompano Beach, Fla. — Longpoint Partners has purchased two shopping centers for a total of $45.7 million. The properties — Plaza Mexico in Houston and Palm Aire Marketplace in Pompano Beach, Florida — comprise 103,907 and 143,219 square feet, respectively. El Rancho anchors Plaza Mexico, which was 96 percent occupied at the time of sale, and El Presidente Supermarket anchors Palm Aire Marketplace, which was 90 percent leased at the time of sale. Both properties will be managed under Longpoint’s new Lena Centers brand.
Hermosa Beach, Calif. — Chartwell Real Estate Development has acquired Park Pacific Shopping Center in Hermosa Beach for $27.8 million. Tenants at the center, which totals 49,911 square feet, include Trader Joe’s, Starbucks Coffee, El Pollo Inka and Five Below. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented Chartwell in the transaction. The Bacon family, which has owned the property since 1949, was the seller. Previously the site of a car dealership, the property was converted to a shopping center in 1977.
Tampa, Fla. — SJS Realty Management has sold Fowler Plaza South, a retail center located in Tampa, for $12.6 million. Tenants at the property, which totals 57,093 square feet, include Dollar General, Champs, AT&T, Jimmy John’s, Foot Locker and Amscot. The center was 97 percent occupied at the time of sale. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller in the transaction.
Huntington, W.V. — The Cooper Commercial Investment Group has brokered the $2.7 million sale of a retail center located in Huntington. Dollar Tree anchors the property, which was sold by a private investor based in the Midwest. Adapthealth recently signed a lease at the property, which is situated directly across from the St. Mary’s Medical Center Main Campus Hospital.
Boynton Beach, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $31 million sale of Village Square at Golf, a 135,133-square-foot shopping center located in Boynton Beach. KC Market anchors the property, which was built in 1983 and renovated in 2012. Other tenants at the center, which was 93 percent occupied at the time of sale, include Enterprise Rent-A-Car, Quest Diagnostics, The UPS Store, Boynton Quality Medical Center and Anthony’s Ladies’ Apparel. Kirk Olson and Drew Kristol of IPA represented the seller, a publicly traded …
West Palm Beach, Fla. — The West Palm Beach-based Sterling Organization has acquired a portfolio of three shopping centers for $180.5 million. The portfolio was purchased on behalf of the value add fund investment vehicle Sterling Value Add Partners IV L.P. ,and SITE Centers was the seller. The properties include Fairfax Towne Center in Fairfax, Virginia; Presidential Commons in Snellville, Georgia; and Village at Stone Oak in San Antonio. Safeway anchors Fairfax Towne Center, which totals 253,392 square feet. Other tenants at the property include T.J. Maxx, Regal Cinemas and JOANN …
Spring, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of a 14,490-square-foot single-tenant property located in Spring, a suburb of Houston. Built in 2001, the building is situated within a Kroger-anchored shopping center. Walgreens occupies the property. Kevin Fryman, Garrett Wood and Ed Hanley of Hanley, in association with ParaSell Inc., represented the seller, a Houston-based private investor. Melissa Brams of Gerber Realty represented the buyer, a Louisiana-based private investor.
