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Investment sales

Dekalb-Plaza_East-Norriton-Pa
Investment salesNewsPennsylvania

JLL Brokers $23.1 Million Sale of Shopping Center in Metro Philadelphia

by Hayden Spiess

East Norriton, Pa. — JLL Capital Markets has brokered the $23.1 million sale of Dekalb Plaza, a 178,356-square-foot shopping center located in East Norriton, roughly 22 miles outside Philadelphia. Urban Air and Big Lots anchor the property, which was 98 percent occupied at the time of sale. Other tenants at the center include Goodwill, Chick-fil-A, Applebee’s, Sally Beauty and Celebree School. Christopher Munley, James Galbally, Colin Behr and James Graf of JLL represented the seller, Broad Street Realty, in the transaction. Abrams Realty & Development acquired the property.  

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Esporta-Fitness_Oxnard-Calif
CaliforniaFinanceInvestment salesNews

Marcus & Millichap Arranges $7.5 Million Acquisition Financing for Single-Tenant Property in Oxnard, California

by Hayden Spiess

Oxnard, Calif. — Marcus & Millichap Capital Corp. has arranged a $7.5 million loan for the acquisition of a 37,500-square-foot single-tenant retail property located in Oxnard. Esporta Fitness occupies the building, which was constructed in 1970 and renovated in 2017. Ron Balys secured the financing on behalf of the buyer. 

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Largo-Town-Center_Upper-Marlboro
Grocery-anchoredInvestment salesNewsWashington DC

Finmarc Management Sells Largo Town Center in Metro D.C. for $70 Million 

by Hayden Spiess

Upper Marlboro, Md. — Finmarc Management Inc. has sold Largo Town Center, a 280,000-square-foot retail center in the Upper Marlboro suburb of Washington, D.C., for $70 million. The investment firm purchased the shopping center in 2019 when it was 80 percent occupied. John Donnelly of John C. Donnelly Inc. and Arthur Benjamin and Alex Alperstein of AdvisoRE LLC represented the buyer, an investment group led by Bethesda-based KPI Commercial LLC, in the transaction. Joseph Hoffman of Kelley Drye Warren provided legal services to Finmarc. Tenants at the property include Marshalls, Shoppers …

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Seneca-Corner_Great-Falls-Va
Investment salesNewsVirginia

Marcus & Millichap Brokers $5.2 Million Sale of Shopping Center in Metro Washington, D.C.

by Hayden Spiess

Great Falls, Va. — Marcus & Millichap has brokered the $5.2 million sale of Seneca Corner, a 5,760-square-foot shopping center located in Great Falls, roughly 20 miles outside Washington, D.C. Tenants at the fully leased property include Jersey Mike’s, Domino’s and Five Guys. Dean Zang, David Crotts and Josh Ein of Marcus & Millichap arranged the sale on behalf of the seller, an entity related to the Republic Family of Cos. 

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Northview-Plaza_Dallas
Grocery-anchoredInvestment salesNewsTexas

Westwood Acquires 120,000-Square-Foot Retail Center in Dallas

by Hayden Spiess

Dallas — Westwood Financial has acquired Northview Plaza, a 120,000-square-foot retail center located in Dallas. Tenants at the property, which is anchored by Kroger and was 89 percent leased at the time of sale, include Petco and McDonald’s. The transaction was executed directly with the undisclosed seller. 

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Retail-Pad_Modesto-Calif
CaliforniaInvestment salesNews

Hanley Brokers $4.1 Million Sale of Retail Pad in Modesto, California

by Hayden Spiess

Modesto, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.1 million sale of a retail pad building located in Modesto. Built in 2018 and situated within a Save Mart-anchored shopping center, the multi-tenant building totals 6,402 square feet. Tenants at the property include Pacific Dental Services, Mountain Mike’s Pizza and West Coast Sourdough Deli. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. A California-based buyer acquired the property. 

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Cherokee Commons and Village Shoppes of East Cherokee
GeorgiaGrocery-anchoredInvestment salesNews

FNRP Acquires 227,618-Square-Foot Shopping Center Portfolio in Georgia

by Hayden Spiess

Acworth and Woodstock, Ga. — First National Realty Partners (FNRP) has acquired a shopping center portfolio totaling 227,618 square feet across two properties in Georgia. The first shopping center, Cherokee Commons, is located in Acworth and comprises 103,835 square feet. A 66,918-square-foot Kroger anchors the property. Other tenants include Pet Supplies Plus, CosmoProf, Fit Body Boot Camp and Jackson Hewitt. Located in Woodstock, Village Shoppes of East Cherokee totals 123,783 square feet. Tenants at the center, which is anchored by a 44,840-square-foot Publix, include Dollar Tree, Workout Anytime, Huntington Learning Center …

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Coleman-Marketplace_Danville-Va
Investment salesNewsVirginia

JLL Arranges Sale of 202,578-Square-Foot Shopping Center in Danville, Virginia

by Hayden Spiess

Danville, Va. — JLL Capital Markets has arranged the sale of Coleman Marketplace, a 202,578-square-foot shopping center located in Danville. Built in 2008, the property was 88 percent leased at the time of sale to tenants including Marshalls, Ross Dress for Less, Old Navy, Michaels, Burkes Outlet, Bath & Body Works and Rack Room Shoes. Tom Kolarczyk, Jordan Lex, Daniel Naughton and Steele Burkett of JLL arranged the transaction on behalf of the seller, Trimont Real Estate Advisors. PECK Properties represented the buyer, entities doing business as JMV SPE LLC, CV …

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CVS_Barnstable-Mass
Investment salesMassachusettsNews

IPA Arranges $29.5 Million Sale of 140,082-Square-Foot Single-Tenant Portfolio 

by Hayden Spiess

Jacksonville, Fla. and Barnstable, Mass. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the $29.5 million sale of a 140,082-square-foot portfolio comprising three single-tenant retail properties. Two of the properties, a 122,358-square-foot store occupied by BJ’s Wholesale and a 7,974-square-foot building occupied by Napa Auto Parts, are located in Jacksonville, Florida. CVS/pharmacy occupies the third property, which totals 9,750 square feet in Barnstable, Massachusetts. Steven Siegel of IPA represented the undisclosed seller and secured the institutional buyer. Ryan Nee and Thomas Shihadeh are Marcus & Millichap’s brokers of record …

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