New Britain, Pa. — JLL has brokered the sale of Town Center of New Britain, a 124,262-square-foot shopping center located in the Philadelphia suburb of New Britain. Giant Food anchors the center, which was built in 1990 and renovated in 2002. Tenants at the property, which was 91 percent leased at the time of sale, include Rite Aid, Dollar Tree, Verizon Wireless and AutoZone. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Milbrook Properties acquired the property for an …
Roseville, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a two-tenant retail pad located in Roseville, roughly 20 miles northeast of Sacramento. Chipotle Mexican Grill and Sushi Roku occupy the 4,808-square-foot property, which is situated within Freedom Point Plaza shopping center. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. Scott Pesch of CB Commercial Pacific Partners represented the buyer, a private investor.
Magnolia, Texas — SVN | J. Beard Real Estate has begun leasing Country Forest Plaza, a 9,615-square-foot retail project located in Magnolia, about 45 miles northwest of Houston. Tenant spaces will range in size from 1,300 to 5,715 square feet. Kane Dunbar is serving as general contractor for the project, construction of which began in January and is expected to be completed during the summer.
Los Angeles — Westwood Financial, a retail real estate investment firm, has promoted Lauren Ball and Juyuan Wei to the company’s C-suite. Ball will take on the role of chief operating officer, with Wei appointed chief financial officer. Ball and Wei joined the Los Angeles-based company in 2021 and 2018, respectively, previously serving as senior vice president and head of leasing and senior vice president of finance and accounting. The two will support Chief Executive Officer Mark Bratt. “A good portion of our ongoing success is due to these leaders’ …
Fishers, Ind. — Thompson Thrift has acquired 62 acres that will be utilized as part of the $550 million expansion to Fishers District in the northeast Indianapolis suburb of Fishers. The firm concurrently sold a portion of the acquired land to the City of Fishers, where the site will be used for the development of a 7,500-seat arena and event center. The overall expansion of Fishers District includes: Slate, a garden-style multifamily community with direct access to Fishers District; the Union, an expansion to the multifamily and commercial options already …
Groton, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Groton Square, a 196,802-square-foot shopping center in southeastern Connecticut. Stop & Shop and Kohl’s anchor the center, which sits on 18 acres and was built in phases between 1983 and 1989. Other tenants include Panera Bread, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill. Jim Koury of IPA represented the buyer and seller in the transaction.
Eagan, Minn. — Mid-America Real Estate Corp. has arranged the sale of Cliff Lake Centre, a 74,182-square-foot property located in the Minneapolis suburb of Eagan. Tenants at the shopping center include Dollar Tree, Davanni’s, Great Clips, The UPS Store, Snap Fitness and H&R Block. Target and Cub Foods shadow anchor the property. Joe Girardi and Amy Senn of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. MVK Capital and True North Investments acquired the property, which was managed by Pine Tree.
San Jacinto, Calif. — Progressive Real Estate Partners has brokered the $3 million sale of Farmer’s Corner, a 77,000-square-foot mixed-use property located in San Jacinto. Built in 1980, Farmer’s Corner was 60 percent occupied at the time of sale. Tenants include a breakfast eatery, jeweler, barber, party supply company and professional offices. Greg Bedell and Mike Lin of Progressive Real Estate Partners represented the buyer and seller, both private investors, in the transaction. The buyer plans to upgrade the property, including replacing the roof.
Fort Collins, Colo. — A joint venture of entities doing business as Stover LLC, Cheyenne I LLC, Cheyenne II LLC and Meldrum LLC has purchased a 9,100-square-foot retail building located in Fort Collins. Built in 2021, the property is fully leased to Dollar General. Jared Goodman and Anne Spry of Cushman & Wakefield represented the buyer in the transaction. John R. Wertz of Wertz Real Estate & Investment Services represented the seller, an entity doing business as Wellington CO DG LLC.
Sunrise, Fla. —Azor Advisory Services has brokered the $13.9 million sale of The Sawgrass Home Design Center, a retail center located in Sunrise, approximately 30 miles northwest of Miami. The 45,000-square-foot property was 83 percent leased at the time of sale to tenants including DXL Casual Male, Bella Salon Suites, Lighting Outlet, Compass Research and Caremax. Beth Azor of Azor represented the seller, a partnership doing business as FVP Sawgrass LLC, which originally acquired the property in 2011. Apogee Realty Inc. and Capital Group Realty 2004 LLC represented the buyer, …