Net lease

Heartland-Dental-Meridian-Idaho
IdahoInvestment salesNet leaseNews

Hanley Arranges Sale of 4,200-Square-Foot Single Tenant Retail Property in Metro Boise

by Hayden Spiess

Meridian, Idaho — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed 4,200-square-foot retail building located in Meridian, roughly 11 miles west of Boise. The single-tenant property is occupied by Heartland Dental, operating as Dental Care at Verona, on a triple-net-lease basis. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the buyer, a private investor, in the 1031 exchange transaction. Andrea Nilson of Cushman & Wakefield represented the seller and developer, Northwest Development Group.

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mmwalmartsale
Investment salesMissouriNet leaseNews

Marcus & Millichap Arranges $2.9 Million Sale of Net-Leased Walmart Property in Southeast Missouri

by Hayden Spiess

Malden, Mo. — Marcus & Millichap has brokered the sale of a 43,770-square-foot retail property occupied by Walmart in Malden, which is part of the Missouri Bootheel in the southeast portion of the state. A limited liability company purchased the net-leased property for $2.9 million in an all-cash transaction. Walmart has five years remaining on its lease. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company and private investor, and secured the buyer in the transaction. David Saverin, Missouri …

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REI-Coop-Tysons-Va
Investment salesNet leaseNewsVirginia

Avison Young Brokers $20.4 Million Sale of Single-Tenant Property in Suburban Washington, D.C.

by Hayden Spiess

Tysons, Va. — Avison Young has brokered the sale of a 32,857-square-foot, single-tenant retail property located in Tysons, a western suburb of Washington, D.C. An institutional buyer acquired the building for $20.4 million. Jonathan Hipp, Richard Murphy and Timothy Farrell of Avison Young represented the seller, an entity doing business as Qualified Opportunity Fund LLC. REI Coop occupies the property on a net-lease basis.

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Walgreens-Coral-Way-Miami
FloridaInvestment salesNet leaseNews

SRS Brokers $14.4 Million Sale-Leaseback of Walgreens-Occupied Property in Miami

by Hayden Spiess

Miami — SRS Real Estate Partners’ National Net Lease Group (NNLG) has facilitated the $14.4 million sale of a single-tenant retail property located in Miami. Comprising 16,285 square feet, the property is occupied by the seller, Walgreens, which has signed a new 15-year, corporate guaranteed, triple-net lease. Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.

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Freddy's-Owensboro-Ky
Investment salesKentuckyNet leaseNewsRestaurants

Marcus & Millichap Arranges $2.5 Million Sale of Single-Tenant Property in Western Kentucky

by Hayden Spiess

Owensboro, Ky. — Marcus & Millichap has arranged the sale of a single-tenant 2,584-square-foot property located in Owensboro. Dan Yozwiak and Darpan Patel represented the undisclosed buyer in the $2.5 million transaction. Freddy’s Frozen Custard & Steakburgers occupies the property, which was renovated in 2018, on a net-lease basis and recently committed to a 15-year lease with renewal options. Colby Haugness, Kentucky broker of record, assisted in closing the sale.

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Galleria-Elgin-Ill
IllinoisInvestment salesNet leaseNews

Marcus & Millichap Brokers $27 Million Sale of Two Retail Centers in Suburban Chicago

by Hayden Spiess

Elgin and Orland Park, Ill. — Marcus & Millichap has arranged the sale of two retail centers located in the Chicago suburbs of Orland Park and Elgin in transactions totaling $27 million. The first property, located in Orland Park, sold for $17.6 million. The center spans 20,732 square feet and includes three freestanding, single-tenant net-leased buildings and one multi-tenant building. The property was fully leased at the time of sale to tenants including BJ’s Brewhouse, Raising Cane’s and Smashburger. The second property, Galleria of Elgin, features two buildings totaling 24,000 …

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Dollar-General_Southeast
Investment salesNet leaseNew YorkNews

Legacy Realty Group Brokers $200 Million Portfolio Sale of 146 Southeast Stores Leased to Dollar General

by Hayden Spiess

New Hyde Park and New York City, N.Y. — Legacy Realty Group Advisors LLC, a commercial real estate brokerage with offices in New York, has brokered the sale of 146 stores in the Southeast leased to Dollar General. The seller, a privately held real estate developer, sold the portfolio to the buyer, a net-lease REIT, for approximately $200 million. Both parties requested anonymity. Jacob Baruch and Daniel Baruch of Legacy Realty Group represented both the buyer and seller in the off-market transaction.

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Investment salesMissouriNet leaseNews

Newmark Negotiates Sale of 92,613-Square-Foot Retail Building in Jefferson City, Missouri

by Hayden Spiess

Jefferson City, Mo. — Newmark has arranged the sale of a 92,613-square-foot retail building net leased to Orscheln Farm & Home in Jefferson City. The sales price was undisclosed, but the asking price of $6.7 million represented a cap rate of 5.5 percent. Matt Berres, Samer Khalil, Karick Brown, Michael VanBuskirk and Chris Robertson of Newmark represented the seller, a private developer, and procured the undisclosed buyer. Orscheln Farm & Home took occupancy of the property in 2017 and signed a new 15-year lease in 2021. The retailer operates 175 …

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Chick-fil-A-Livermore-Calif
CaliforniaInvestment salesNet leaseNewsRestaurants

Hanley Investment Group Brokers $10.4 Million Sale of Single-Tenant Property Near San Francisco

by Hayden Spiess

Livermore, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of a 4,821-square-foot single-tenant property net leased to Chick-fil-A in Livermore, about 45 miles east of San Francisco. Bill Asher and Jeff Lefko represented the seller, Meridian, in the $10.4 million transaction. An undisclosed 1031-exchange buyer acquired the property, which is located in Arroyo Plaza, adjacent to Home Depot and Walmart.

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CaliforniaInvestment salesNet leaseNews

Bridgepoint Group Investments, Steerpoint Capital Acquire North Los Angeles Shopping Center for $60 Million

by Hayden Spiess

Palmdale, Calif. — Bridge Group Investments and Steerpoint Capital have purchased Antelope Valley Mall in the North Los Angeles community of Palmdale for $60 million. The property, which comprises 1 million square feet, is anchored by Dillard’s, Macy’s and JCPenney. Other tenants include Dick’s Sporting Goods, Old Navy, Oishi Japanese Sushi Bar and Grill and Blaze Pizza. The center also features a 16-screen Cinemark theater.  The firms — which previously acquired The Shops at Montebello in Montebello, California — plan to add new amenities, as well as dining and entertainment …

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