Northbrook, Ill. — New York City-based Newmark and Illinois-based Hilco Real Estate has begun marketing 121 JCPenney stores for sale on behalf of the Copper Property CTL Pass Through Trust, a trust owned by JCPenney and managed by Hilco JCP LLC, an affiliate of Hilco Real Estate. JCPenney — which is owned by a joint venture between Simon Property Group and Brookfield Asset Management — operates the stores on an absolute triple-net master lease. The retail portfolio, which averages 130,000 square feet per store, includes 21 stores in Texas, 19 …
Midlothian, Texas — STRIVE has arranged the sale of the Shops on 663, a 14,812-square-foot retail center located in Midlothian, roughly 25 miles southwest of Dallas. The property was fully leased at the time of sale. Jack Hicks and Hudson Lambert of STRIVE represented the Austin-based developer and investor and sourced the California-based buyer, in the transaction. Additional terms of the sale were not disclosed.
Enola, Pa. — Philadelphia-based Agora Commercial Realty Advisors has acquired Summerdale Plaza, a 147,916-square-foot shopping center located in Enola, just west of Harrisburg, for $15.2 million. The center — which was 80 percent leased at the time of sale — is anchored by Tractor Supply, AutoZone, Family Dollar, Dollar Tree, Rite Aid and the Pennsylvania Department of Transportation. JP Colussi and Brad Nathanson of IPA represented the buyer and seller in the transaction.
Temple Terrace, Fla. — SRS Real Estate Partners has brokered the $4 million sale of Telecom Village, a 6,323-square-foot multi-tenant retail property in the Tampa suburb of Temple Terrace. The property — which sits on roughly 1.1 acre — was fully leased at the time of sale by four tenants including Foxtail Coffee Co., Zoom Tan, Hummus Republic and Barberitos. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the transaction. The buyer was a Tampa-based private investor who purchased the property with a …
Greensboro, N.C. — Legacy Realty Group Advisors has brokered the sale of Hicone Shopping Center, an 88,961-square-foot grocery-anchored retail center in Greensboro. The property — which is anchored by Food Lion — is situated on more than 15 acres, according to the Triad Business Journal. Additional retailers at the property include CVS Pharmacy, a Goodwill store, Koronda’s Sports Bar & Grill, H&R Block, the State Employees’ Credit Union, Hicone Car Wash and four restaurants. Jacob Baruch and Daniel Baruch of Legacy Realty Group Advisors, represented the seller. Will Whitley of …
Midlothian, Texas — Dallas-based Younger Partners Investments (YPI) has arranged the sale of three restaurant parcels at Midlothian Towne Crossing, a Class A power center located about 25 miles south of Dallas. The restaurant parcels include Chili’s Grill & Bar, Chick-fil-A and McDonald’s. Built in 2019, the Chili’s restaurant is situated on 1.7 acres on a 10-year lease. McDonald’s, which also operates on a long-term lease, sits on 1.1 acres and includes a double drive-thru, parking, as well as accessible highway access. Chick-fil-A features two drive-thru lanes with indoor seating …
Merrillville, Ind. — Marcus & Millichap has brokered the $4.2 million sale of Crossroads Plaza, a grocery-anchored retail center in Merrillville, roughly 30 miles outside Chicago. Ruler Foods, Trader Buck’s and Treasure Hunt Deals anchor the center, which totals 184,721 square feet. Additional tenants at the property include Family Dollar, Subway, Papa Johns Pizza and Rent-A-Center. Eric Abbott and Andrew Margulies of Marcus & Millichap, along with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services, marketed the property on behalf of the seller and procured …
Memphis, Tenn. — Pickleball Kingdom, an indoor pickleball company, has announced its newest location in Memphis. The facility — which will span 42,300 square feet — will feature 17 professional-grade indoor courts. Additionally, the Memphis facility will offer youth programs, leagues, tournaments, community and corporate events and professional clinics. Pickleball Kingdom plans to open by summer 2025. Founded in 2022, Arizona-based Pickleball Kingdom is currently operating 350 franchises.
Bangor, Maine — Marcus & Millichap has arranged the $12.5 million sale of a BJ’s Wholesale Club located in the central Maine community of Bangor. The building is situated on 13 acres and totals 91,828 square feet. Recent upgrades to the property include a complete interior and exterior renovation, and the addition of a new roof and a gas and propane filling station. The property is double-net-leased with scheduled rent increases every five years. Adam Cohen and Brett Kilar of Marcus & Millichap represented the undisclosed seller and procured the …
Mystic, Conn. — Colliers has arranged the $2.9 million sale of a retail building in Mystic. The property was formerly occupied by Bank Street Book Store and totals 9,000 square feet, according to LoopNet Inc. John Cafasso of Colliers represented the buyer, jeweler Lux Bond & Green, which also plans to occupy the property. Judi Carcausa of William Pitt Sotheby’s International Realty represented the undisclosed seller in the transaction.