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Lakewood-Center-Lakewood-CA
CaliforniaInvestment salesNews

Faris Lee Brokers $37.3 Million Sale of 97,319-Square-Foot Retail Property in Lakewood, California

by Abby Cox

Lakewood, Calif. — Faris Lee Investments has arranged the sale of a 97,319-square-foot portion of Lakewood Center, a retail center located in Lakewood. A consortium of multiple owners sold the asset to an undisclosed seller for $37.3 million. Situated on 5 acres within Lakewood Center, the sold portion is leased to tenants including Burlington, 24 Hour Fitness and Bank of America. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee represented the seller in the deal. This is the second large portion of Lakewood Center that Faris Lee …

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10030-Innovation-Campus-Way-Johnstown-OH
Investment salesNewsOhio

CBRE Negotiates $15.6 Million Sale of Convenience Store Property in Suburban Columbus, Ohio

by Abby Cox

Johnstown, Ohio — CBRE has negotiated the $15.6 million sale of a newly developed truck stop and convenience store property occupied by 7-Eleven (Speedway) in Johnstown near New Albany. The 4,816-square-foot property sits at the entrance to the 9,000-acre New Albany International Business Park. 7-Eleven occupies the asset under a new 15-year triple-net lease. CBRE’s Melissa Marshall, Ian Schroeder and David McNevin represented the buyer, a private investor based in Southern California. The seller was an Ohio-based commercial real estate developer.

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Kyle-Park
DevelopmentMixed-useNewsTexas

Joint Venture Breaks Ground on Retail Component of 101-Acre Mixed-Use Project in Kyle, Texas

by Abby Cox

Kyle, Texas — A joint venture between Houston-based developer NewQuest and Transwestern Investments has broken ground on the retail component of Kyle Park, a 101-acre mixed-use project located at the northeast corner of I-35 and Bebee Road in Central Texas. The retail component of Kyle Park will feature a 412,588-square-foot lifestyle center that is preleased to tenants such as Dick’s Sporting Goods, Burlington, HomeGoods, ULTA Beauty, TJ Maxx, Barnes & Noble, Boot Barn and EōS Fitness. The development is also planned to include hospitality and multifamily uses. An expected completion …

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707-E-Balboa-Ave-Newport-Beach-CA
CaliforniaEntertainmentInvestment salesNews

Coastal Commercial Arranges Sale of Historic Balboa Theater in Newport Beach, California

by Abby Cox

Newport Beach, Calif. — Coastal Commercial has brokered the sale of Balboa Theater, a nearly century-old landmark theater located at 707 E. Balboa Blvd. in Newport Beach. A local family office sold the property to a local private real estate investor for an undisclosed price. The new owner plans to restore the theater, which originally opened in 1928 as Ritz Theater. The theater ultimately closed in 1991 and despite previous restoration efforts, the property has remained closed for approximately 35 years. Coastal Commercial represented the seller, while Christian Emerson of The …

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Stony Point Village
Grocery-anchoredInvestment salesNewsVirginia

ZRP Sells 112,238-Square-Foot Stony Point Village in Richmond, Virginia, for $41.3 Million

by Abby Cox

Richmond, Va. — Ziff Real Estate Partners (ZRP) has sold Stony Point Village, a 112,238-square-foot neighborhood center located in the Richmond suburb of Bon Air. Asana Partners purchased the property for $41.3 million. ZRP, which acquired Stony Point Village in 2019, has repositioned the center with new tenants such as Trader Joe’s, Sephora and Planet Fitness, while also completing a capital improvement program. Stony Point Village was 98 percent leased at the time of sale.

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2830-S-Highland-Ave
IllinoisInvestment salesNews

JLL Brokers $10.1 Million Sale of Medical-Anchored Strip Center in Metro Chicago

by Abby Cox

Lombard, Ill. — JLL Capital Markets has brokered the $10.1 million sale of 2830 S. Highland Avenue, a 21,071-square-foot retail strip center located in the Chicago suburb of Lombard. Alex Sharrin, Mohsin Mirza, Will Bowater, Michael Nieder and Brian Page of JLL represented the seller, a joint venture between HSG Medical and Capital Healthcare Properties. The buyer was a local private capital group. Built in 2003 and fully renovated in 2026 for the new medical tenancy, the property was fully leased at the time of sale to Duly Health and …

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sunnymead-blvd
CaliforniaInvestment salesNews

Progressive Arranges $3.1 Million Sale of Multi-Tenant Retail Property in Inland Empire

by Abby Cox

Moreno Valley, Calif. — Progressive Real Estate Partners has arranged the $3.1 million sale of a 23,528-square-foot, multi-tenant retail property located at 24300-24320 Sunnymead Blvd. in the Inland Empire city of Moreno Valley. The buyer, which was an Orange County, California-based private investor, plans to make capital improvements and enhance the tenant mix over time. The retail property was 94 percent leased at the time of sale to automotive-related businesses such as Prieto Smog Center, Gina’s Auto Service, Lenny’s Auto Repair and No Limit Sounds & AC.

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Cornerstone Shopping Center
Investment salesNewsWisconsin

Hanley Investment Negotiates Sale of 13,308-Square-Foot Retail Center in Metro Milwaukee

by Abby Cox

Glendale, Wis. — Hanley Investment Real Estate Advisors has negotiated the sale of Cornerstone Shopping Center, a 13,308-square-foot retail center located in Glendale, about five miles north of downtown Milwaukee. Built in 2003, the two-building retail property was fully leased at the time of sale to four tenants including Wild Fork Foods, Pearle Vision, Panera Bread and Vivo Infusion. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a North San Diego County, California-based private investor. The buyer, SW Neighborhood Centers IV, an affiliate of …

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Gene Autry Plaza
CaliforniaFinanceGrocery-anchoredNews

Slatt Capital Arranges $12 Million in Refinancing for Multi-Tenant Retail Center in Palm Springs, California

by Abby Cox

Palm Springs, Calif. — Slatt Capital has arranged a $12 million loan to refinance Gene Autry Plaza, a 60,629-square-foot multi-tenant retail center located in Palm Springs. Michael Kaplan and Andrew Friedeberg of Slatt Capital arranged the five-year permanent loan — which was structured with a 30-year amortization schedule — through a life insurance company on behalf of the unnamed borrower. Smart & Final Extra! anchors Gene Autry Plaza, which was built in 2009. Additional tenants at the property include Staples, Sports Clips, Goody’s Café, Panera Bread, Firehouse Subs and Five Guys.

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CaliforniaInvestment salesNews

Progressive Negotiates $6 Million Sale of Fully Leased Retail Center in Rancho Cucamonga, California

by Abby Cox

Rancho Cucamonga, Calif. — Progressive Real Estate Partners has negotiated the $6 million sale of Allmark Plaza, a 16,926-square-foot retail center located in Rancho Cucamonga. Built in 1986, Allmark Plaza was fully leased at the time of sale to tenants including Domino’s Pizza, Mini-Mart, a nutrition shop, Mexican restaurant, diet center, salon, donut shop, day spa, dry cleaners and a dental office. Lance Mordachini and Monica Dal Bianco-West of Progressive represented the buyer, a California-based private investor. The seller, Allmark Property Management, represented itself.

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