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GeorgiaInvestment salesNews

SRS Brokers $4.3 Million Sale of New Retail Strip Center in Metro Atlanta

by Hayden Spiess

Johns Creek, Ga. — SRS Real Estate Partners’ National Net Lease Group has brokered the $4.3 million sale of Shops at Medlock Corners, a 6,200-square-foot retail strip center located in Johns Creek. The seller, Atlanta-based Willow Capital Partners, delivered the property in March. Situated on less than an acre, the metro Atlanta property was fully leased at the time of sale to Jersey Mike’s, Ideal Dental and ATI Physical Therapy, all of which signed 10-year leases. Michael Berk, Sheree Strome and Scott Campbell of SRS represented the seller in the …

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Grocery-anchoredInvestment salesNew YorkNews

Cushman & Wakefield Arranges Sale of Two Retail Centers Totaling 416,544 Square Feet in Hamburg, New York

by Hayden Spiess

Hamburg, N.Y. — Cushman & Wakefield has arranged the sale of two adjacent retail centers comprising a total 416,544 square feet in Hamburg. Located at 4408 Milestrip Road, the first center, BJ’s Plaza, is anchored by BJ’s Wholesale Club and was fully leased to 10 tenants at the time of sale. The Home Depot anchors the second property, McKinley Milestrip, which is located at 4405 Milestrip Road and was 94 percent leased to 20 tenants at the time of sale. The centers comprise 176,045 and 240,499 square feet, respectively. Gary …

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Investment salesMinnesotaNews

JLL Brokers Sale of 357,115-Square-Foot Retail Center in Suburban Twin Cities

by Hayden Spiess

Roseville, Minn. — JLL Capital Markets has brokered the sale of Crossroads Center of Roseville, a 357,115-square-foot power center located in the Twin Cities suburb of Roseville. Built in 1985, the property was 97 percent leased at the time of sale to tenants including Best Buy, Dick’s Sporting Goods and Kohl’s. Matt Hazelton, Cory Villaume, Bill Krebsbach, Dave Monahan and Michael Nieder of JLL represented the undisclosed seller in the transaction. HJ Development was the buyer.

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Taco-Bell
CaliforniaInvestment salesNet leaseNewsRestaurants

Hanley Arranges $2.9 Million Sale of Single-Tenant Property in Corona, California

by Hayden Spiess

Corona, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a single-tenant retail property located in Corona. A Taco Bell Drive-Thru — operated by the tenant, Alvarado Restaurant Nation — occupies the 2,049-square-foot property on a triple-net-lease basis. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Evergreen Development, in the transaction. David Aschkenasy of Commercial Asset Group represented the 1031-exchange buyer, a locally based private investor.

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Investment salesNewsOregon

Norris & Stevens Brokers $2.3 Million Sale of Retail Building in Portland

by Hayden Spiess

Portland, Ore. — Norris & Stevens Inc. has brokered the $2.3 million sale of a standalone retail building in Portland. Built in 1987, the property comprises 12,371 square feet at 16544 S.E. Division Street. Luis Martin del Campo and Michael Simmons of Norris & Stevens represented both the buyer, Yusuf Iqbal, and the seller, Harold Ward, in the transaction.

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LeasingMixed-useNewsTexas

Bright Realty Signs Three Tenants to The Realm at Castle Hills in Metro Dallas

by Hayden Spiess

Lewisville, Texas — Bright Realty has announced the addition of three new tenants to The Realm at Castle Hills, a 324-acre mixed-use development located in Lewisville, roughly 30 miles northwest of Dallas. Cheeky Monkeys is leasing 7,287-square-feet, including more than 6,000 square feet of play space, a coffee shop and a limited-service restaurant. Additionally, 206 Luster Grill has opened a 2,257-square-foot restaurant and Cachet Salons & Spa now occupies 10,692 square feet. Upon completion, The Realm will total 1.5 million square feet of retail space in addition to 5,000 multifamily …

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West-on-West-Houston
DevelopmentGrocery-anchoredLeasingNewsTexas

NewQuest Underway on 90,000-Square-Foot Shopping Center Redevelopment in Houston

by Hayden Spiess

Houston —NewQuest Properties is underway on the 90,000-square-foot redevelopment of a retail center located in Houston. Formerly known as Pavilion Center, the property is being reimagined as West on West (WoW) and will be anchored by a 33,029-square-foot 99 Ranch Market, which is expected to open later this year. Other tenants will include Gen Korean BBQ House and Teso Life, which will occupy 6,212 square feet and 13,340 square feet, respectively. Exterior renovations are scheduled for completion this month. Plans include neon lighting elements, string lighting, an upcycled art installation …

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AlabamaGrocery-anchoredInvestment salesNews

SRS Arranges Sale of 57,850-Square-Foot Five Points Shopping Center in Tuscaloosa, Alabama

by Hayden Spiess

Tuscaloosa, Ala. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Five Points Shopping Center, a 57,850-square-foot retail center located in Tuscaloosa. Winn-Dixie anchors the property. Other tenants include Dollar Tree, AT&T, State Farm Insurance and H&R Block. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, an entity doing business as H&R Tuscaloosa LLC, in the transaction. The buyer, an entity doing business as Five Points SC LLC, purchased the property for an undisclosed price.

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Investment salesNew YorkNews

Cushman & Wakefield Brokers $22 Million Sale of Retail Property in East Hampton, New York

by Hayden Spiess

East Hampton, N.Y. — Cushman & Wakefield has brokered the $22 million sale of a two-story, 5,000-square-foot retail property in the Long Island community of East Hampton. Jordan Sutton, Robert Shapiro, Dan Abbondandolo and Victor Little of Cushman & Wakefield represented the sellers, two private investors, in the transaction. Luxury retailer Louis Vuitton Moët Hennessy acquired the property, which is currently leased to jewelry and accessories retailer Cartier.

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Investment salesNewsTexas

Colliers Negotiates Sale of 10-Acre Commercial Development Site in Metro Houston

by Hayden Spiess

Tomball, Texas — Colliers has negotiated the sale of a 10-acre commercial development site located at 15530 Treichel Road in the northern Houston suburb of Tomball. Tom Condon Jr. and John Grimsley of Colliers represented the seller, an undisclosed private investor, in the transaction. Chris Weisinger and Ryan Knape of One Rock represented the buyers, Max & Beverly Welch, who plan to expand their existing garden center and nursery at the site.

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