New York City — New York City-based Legacy Realty Group Advisors has brokered the $60 million sale of a portfolio comprising 40 Dollar General-leased stores in the Southeast. Jacob Baruch and Daniel Baruch of Legacy represented the buyer, a net lease REIT, and seller, a private developer, in the transaction.
Beaumont, Calif. — Wood Investments Cos. Has sold a 4,000-square-foot single-tenant retail pad building located in Beaumont. The company recently developed the property, which is occupied by Sherwin Williams on a net-lease basis. Lee Csenar and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the $3.2 million transaction. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the Hemet, California-based buyer. The retail pad is located adjacent to San Gorgonio Village, a 78,000-square-foot shopping center developed and owned by Wood Investments.
Fort Wayne, Ind. — Marcus & Millichap has brokered the $3.2 million sale of a 9,500-square-foot freestanding restaurant property in Fort Wayne. Biaggi’s Ristorante Italiano occupies the building, which was constructed as a build-to-suit for the restaurant in 2001, on a net-lease basis. Damien Yoder and Madison Harman of Marcus & Millichap’s Yoder-Harman Group represented the seller, a California-based family trust. An in-state lender provided acquisition financing on behalf of the buyer, an Indiana-based family office. Biaggi’s operates 16 restaurants in eight states. There are six years remaining on its …
Brandon, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.1 million portfolio sale of two single-tenant net-lease retail properties totaling 6,454 square feet in Brandon, roughly 13 miles outside Tampa. The restaurants, which are occupied by Panera Bread and Chipotle Mexican Grill, are outparcels to Lake Brandon Plaza, a 200,000-square-foot, Publix-anchored shopping center. Both properties were completed this year and have new 15-year, absolute triple-net leases in place. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the 1031 …
Ventura, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.4 million sale of a single-tenant property located in Ventura. Planet Fitness occupies the newly renovated 24,600-square-foot building on a triple-net-lease basis. Bill Asher, Jeff Lefko and Ed Hanley of Hanley represented the seller, an affiliate of MJL Capital Partners. Brian Hughes of M&M Thrift Management Co. represented the buyer, a Ventura-based private investor.
Iowa, Montana, North Dakota, Nebraska and Wisconsin — Marcus & Millichap has brokered the sale of a 22-property portfolio occupied by Arby’s in the Midwest for $35.1 million. The net-leased assets are located in Iowa, Montana, North Dakota, Nebraska and Wisconsin. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller, an Arby’s franchisee. As part of the sale, new leases were executed for the properties. The buyer was undisclosed.
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Ontario, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant property located in Ontario, California. Bill Asher and Jeff Lefko of Hanley represented the seller, Evergreen Development, in the $3.5 million transaction. Fast5Xpress Car Wash occupies the property, which comprises a 4,446-square-foot building situated on 1.2 acres, on a 35-year, absolute triple-net ground lease.
Colton, Calif. — Faris Lee Investments has brokered the $3.8 million sale of Meadow Lane Plaza, a shopping center located in Colton. The triple net lease property was fully occupied at the time of sale. Shaun Riley and Nick Miller of Faris Lee represented both the buyer, a California-based investor, and seller in the transaction.
Austintown, Ohio — The Cooper Commercial Investment Group has arranged the $2.2 million sale of a single-tenant property located in Austintown in Northeast Ohio. Chipotle Mexican Grill occupies the newly developed building on a 10-year, triple net lease. Dan Cooper of Cooper Commercial represented the seller, a private developer. An undisclosed, all-cash buyer purchased the property.
