The Sept. 27 Shopping Center Business webinar “Market Outlook — Insights on Retail, Consumers, REITs, NNN & Shopping Centers” covered the state of the retail industry, focusing on consumer behavior and the financial health of retailers. Be sure to tune in to the 6-minute mark of this webinar for a clear-eyed, informative breakdown of key retail trends from moderator Dana Telsey of Telsey Advisory Group. Panelists discussed a shift in consumer spending toward value and discount retailers, with a slowdown in luxury goods consumption. The webinar also explored challenges in the retail sector, including increased …
Net lease
Trexlertown, Pa. — Colliers has negotiated the $5.4 million sale of Shepherd’s Corner, a 9,512-square-foot shopping center located in Trexlertown. The property was fully leased at the time of sale. Derek Zerfass and Jeff Algatt of Colliers represented the seller in the transaction. Robbie Stephens of ERA Rudy Amelio represented the buyer. Tenants at the center occupy their respective spaces on a net-lease basis, with leases in place until at least 2032.
Jacksonville, Fla. — Baum Family Investments has purchased three single-tenant properties located in Jacksonville. Kentucky Fried Chicken (KFC) occupies each of the properties on a triple-net-lease basis. An undisclosed seller sold the buildings for roughly $5 million. Baum Family Investments has acquired four other properties in the state this year, with plans to purchase an additional six properties before the end of 2024.
Mount Pleasant, Mich. — The Boulder Group has arranged the $3.5 million sale of a single-tenant property located in Mount Pleasant. Caliber Collision occupies the building, which totals 15,800 square feet, on a 15-year net lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, an Iowa-based corporation, in the transaction. A Delaware-based limited liability company (LLC) was the seller.
Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.3 million pre-sale of a single-tenant property located in Rancho Cordova, roughly 13 miles outside Sacramento. Situated on a 0.8-acre parcel within the Anatolia Marketplace shopping center, the building totals 2,325 square feet. Chipotle Mexican Grill has signed a triple-net ground lease at the property. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC, in the transaction. Chipotle is scheduled to open at the property in September.
Ocala, Fla. — SRS Real Estate Partners has brokered the $3.5 million sale of a newly delivered single-tenant property located in Ocala, a city in Central Florida. Chipotle Mexican Grill occupies the building, which totals 2,490 square feet, on a 15-year, triple-net lease. The property is situated on a one-acre lot near an Aldi, Walmart Supercenter, Lowe’s Home Improvement and Ross Dress for Less. Patrick Nutt and William Wamble of SRS represented the undisclosed seller in the transaction. A Spain-based buyer acquired the property.
Fort Worth, Texas — Marcus & Millichap has brokered the sale of Victory Shops at Heritage Trace IV, an 11,492-square-foot retail center located in Fort Worth. Tenants at the property, which was fully leased at the time of sale, include Just Love Coffee Café, RevFit, Flossophy Dental Studio and Big Chicken. All of the tenants at the center are on triple-net leases. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller in the transaction. The property is situated across from a master-planned mixed-use project that will comprise retail, …
Tucson, Ariz. — Hanley Investment Real Estate Advisors has negotiated the $4 million sale of a single-tenant property located in Tucson. First Watch occupies the property, which totals 4,164 square feet, on a triple-net-lease basis. Bill Asher, Jeff Lefko and Lee Csenar of Hanley represented the seller and developer in the transaction. Cory Krupinsky of Brisky Net Lease, in association with Brian Brockman of Bang Realty, represented the buyer, a private investor.
Mukwonago, Wis. — Legacy Realty Group Advisors has brokered the $12 million sale of a single-tenant property located in Mukwonago. Metro Market (a Kroger brand) occupies the building, which totals 63,740 square feet, on a net-lease basis. Jacob Baruch and Daniel Baruch of Legacy represented the seller in the transaction. Carol Vena of JRW Realty represented the buyer.