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IndianaInvestment salesNews

Marcus & Millichap Brokers $1.7 Million Sale of Retail Outparcel in Valparaiso, Indiana

by Hayden Spiess

Valparaiso, Ind. — Marcus & Millichap has brokered the $1.7 million sale of a three-tenant retail outparcel located in Valparaiso. Situated within Cumberland Crossing Retail Center, the property was developed in 2008. Salon Lofts, Venus Nails and Indiana Farm Bureau Insurance Agency occupy the outparcel, which totals 7,541 square feet. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the seller. Josh Caruana assisted in closing the transaction as the firm’s Indiana broker of record. 

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DevelopmentMixed-useNew YorkNews

Ingka Investments Acquires Stake in Fifth Avenue Mixed-Use Tower Development in Manhattan, Now to Feature IKEA Store

by Hayden Spiess

New York City — Ingka Investments, the investment arm of Ingka Group, which owns and operates a majority of IKEA stores globally, has purchased a one-third stake in the development of a 1 million-square-foot mixed-use tower underway in Manhattan. As part of the arrangement, IKEA will open a store across two base levels at the building, 570 Fifth Avenue, which will include a corner entrance along Fifth Avenue. Extell Development Co. is the master developer of 570 Fifth Avenue, which will feature Class A retail space and offices at the …

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Town-Central-Shopping-Center_Milledgeville-Ga
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $8.3 Million Sale of Retail Properties in Milledgeville, Georgia

by Hayden Spiess

Milledgeville, Ga. — Marcus & Millichap has brokered the $8.3 million sale of two retail properties located in Milledgeville. An undisclosed buyer acquired Town Central Shopping Center, a 140,097-square-foot retail center, and an adjacent single-tenant property totaling 54,765 square feet. Food Depot occupies the single-tenant property. Tenants at Town Central Shopping Center, which was fully leased at the time of sale, include Tractor Supply Co. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller of the shopping center, and Robby Pfeiffer of Marcus & Millichap represented the seller …

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Sedgefield-Crossing_Greensboro-N.C
Investment salesNewsNorth Carolina

Legacy Arranges $6 Million Sale of Sedgefield Crossing in Greensboro, North Carolina

by Hayden Spiess

Greensboro, N.C. — Legacy Realty Group Advisors has arranged the $6 million sale of Sedgefield Crossing, a 112,330-square-foot shopping center located in Greensboro. Family Dollar and USPS anchor the property. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented both the seller and buyer in the transaction. 

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Grocery-anchoredInvestment salesNewsUtah

Capstone Purchases 38,397-Square-Foot Retail Center in Metro Salt Lake City

by Hayden Spiess

South Jordan, Utah — Capstone Advisors has purchased Trail Crossing Shopping Center, a 38,397-square-foot retail center located in South Jordan, roughly 20 miles south of Salt Lake City. Smith’s Food and Drug, a subsidiary of The Kroger Co., anchors the property, which was built in 2017. Wright Development Group sold the center for an undisclosed price. 

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230-Fifth-Ave_New-York-City
LeasingNew YorkNews

Rooftop Hospitality Group Signs 12-Year Lease Extension in New York City

by Hayden Spiess

New York City — Rooftop Hospitality Group has signed a 12-year lease extension at 230 Fifth Ave. in New York City, where it occupies the roof of the New York Market Center building with its 230 Fifth Avenue Rooftop Bar concept. Comprising 32,050 square feet of indoor and outdoor space, the bar originally opened in 2006. GFP Real Estate, which has owned the property since 1958, is the landlord. Jane Gural-Senders, David Kaye and Harvey Richer represented the landlord in the lease negotiations on an in-house basis.

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Goodyear-Centerpointe_Goodyear-Ariz
ArizonaFinanceNews

Gantry Secures $29.2 Million Refinancing for Retail Center in Phoenix Suburb

by Hayden Spiess

Goodyear, Ariz. — Gantry has secured a $29.2 million loan for the refinancing of Goodyear Centerpointe, a retail center located in Goodyear, a western suburb of Phoenix. Tenants at the property, which totals 320,000 square feet, include Conn’s Appliances, EoS Fitness, Urban Air, Hobby Lobby, Turner’s Outdoorsman and Goodwill Industries. Braden Turnbull, Patrick Barkley, Chad Metzger and Alicia Sabanero of Gantry arranged the 20-year financing on behalf of the borrower, Haagen Co. A life insurance company provided the loan. 

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IllinoisInvestment salesNews

Inland Sells 101,157-Square-Foot Retail Property in Chicago Suburb

by Hayden Spiess

Downers Grove, Ill. — Inland Private Capital Corp. (IPC) has sold a 101,157-square-foot retail property located in the southwest Chicago suburb of Downers Grove. Best Buy and Golf Galaxy occupy the development, with 62,860-square-foot and 38,297-square-foot spaces, respectively. IPC, through its subsidiary that serves as an asset manager, facilitated the sale of the property on behalf of Downers Grove Retail DST, one of IPC’s 1031 investment programs.

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McDonalds_Fountain-Valley-Calif
CaliforniaInvestment salesNet leaseNews

Hanley Arranges $3.9 Million Sale of Single-Tenant Property in Southern California

by Hayden Spiess

Fountain Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.9 million sale of a single-tenant property located in Fountain Valley. McDonald’s occupies the 3,500-square-foot property on an absolute triple-net ground lease. Built in 2011, the development is situated on an outparcel adjacent to a Costco. Bill Asher and Jeff Lefko of Hanley, in association with Fred Encinas of Oaks Commercial Real Estate, represented the seller, a California-based family trust, in the transaction. Robert Tran of HPT Realty represented the buyer. 

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ConnecticutLeasingMixed-useNews

Three Retailers Sign Leases at Atlantic Station in Stamford, Connecticut

by Hayden Spiess

Stamford, Conn. — Three new retail tenants have signed leases at Atlantic Station, a mixed-use development located in Stamford. Lovesac, Golf Lounge 18 and Fresh & Co. will occupy 28,000; 9,000; and 3,000 square feet, respectively. RXR owns the project, which features 650 residences and 82,000 square feet of retail space across two towers. Brian Scruton of Cushman & Wakefield represented Lovesac in the lease negotiations, with Tim Rorick and Janey Steinmetz of Newmark representing the landlord. Tyler Lyman of True Commecial represented both the landlord and tenant in the Golf …

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