Council Bluffs, Iowa — Metro Crossing Shopping Center in Council Bluffs has sold for an undisclosed price. The property spans 309,811 square feet. It was 96 percent occupied at the time of sale by 57 tenants, including Dick’s Sporting Goods, PetSmart, Kohl’s, Hobby Lobby, Old Navy and TJ Maxx. Ember Grummons of Investors Realty represented the buyer, Bridge 33 Capital. CBRE represented the seller, a partnership between Walton Street Capital and Pine Tree Commercial.
Des Moines, Iowa — The Boulder Group has brokered the sale of a restaurant property occupied by Fazoli’s in Des Moines for $1.2 million. The 3,350-square-foot building is located at 3600 Merle Hay Road. Randy Blankstein and John Feeney of Boulder represented the seller, an undisclosed investment firm based in Texas, in the transaction. A Midwest-based investor was the buyer. Fazoli’s, an American fast-casual restaurant chain, has more than 10 years remaining on its lease.
Davenport, Iowa — Marcus & Millichap has brokered the sale of North Ridge Center in Davenport for $13.9 million. The 119,381-square-foot shopping center is located at 4016 E. 53rd St. Tenants include Michael’s, Old Navy, Bed Bath & Beyond, Ulta Beauty, Five Below and TJ Maxx. Jeff Rowlett of Marcus & Millichap marketed the property on behalf of the seller and represented the buyer, both of which were undisclosed limited liability companies.
Ames, Iowa — The Boulder Group has negotiated the sale of a 14,820-square-foot property net leased to Walgreens in Ames for $5.1 million. The single-tenant building is located at 2719 Grand Ave. Walgreens has more than 13 years remaining on its lease. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate firm. A West Coast-based real estate firm purchased the asset.
Waterloo, Iowa — Marcus & Millichap has arranged the sale of Crossroads Commons in Waterloo for $8.1 million. The 85,987-square-foot retail property is located at 1403 Flammang Drive. It was fully leased at the time of sale to tenants such as Dick’s Sporting Goods, Party City and Five Below. Zach Turner, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap’s Patton-Wiles-Fuller Group marketed the property on behalf of the undisclosed seller. The team also secured the buyer, a limited liability company.
Missouri and Iowa — Disney Investment Group (DIG) has brokered the sales of five retail centers in Missouri and Iowa. Sales prices were not disclosed. The properties total 438,861 square feet and are 91 percent occupied on average. Major tenants include Aldi, Gerbes, County Market, Orscheln, Fresenius Medical, Dollar Tree and Dollar General. David Disney and Adam Crockett of DIG brokered the sales on behalf of the seller, a private investment partnership. The team also procured the buyers for each property.
Davenport, Iowa — Equity Investment Group has acquired Kimberly West, a 113,713-square-foot shopping center anchored by Hv-Vee in Davenport, for an undisclosed price.
Dubuque, Iowa — The DESCO Group has acquired Warren Plaza, a 96,310-square-foot shopping center in Dubuque, for an undisclosed price.
Sioux City, Iowa — The R.H. Johnson Co. has purchased Lakeport Commons in Sioux City for an undisclosed price.
Sioux City, Iowa — Newmark Knight Frank (NKF) has arranged the $55 million sale of Southern Hills Mall in Sioux City.
