Downers Grove, Ill. — Marcus & Millichap has brokered the $2.3 million sale of a BP-occupied gas station property in the southwest Chicago suburb of Downers Grove. Timothy Nichols, Nicholas Kanich and Mitch Grant of Marcus & Millichap represented the seller, a locally based limited liability company. Nichols secured the buyer, also a locally based limited liability company.
Bentonville, Ark. — Sam’s Club, a division of Walmart Inc., plans to open more than 30 new locations across the United States over the next several years. The first store, which is planned for an undisclosed Florida city, is scheduled to open in 2024. The new clubs will span approximately 160,000 square feet, which is larger than most current locations. Most new stores will feature a seafood/sushi island, full-service floral shop and walk-in dairy and fresh coolers, as well as a larger healthcare space featuring a patient waiting area, health …
Mt. Juliet, Tenn. — JLL Capital Markets has brokered the sale of Providence Commons, a 110,137-square-foot Publix-anchored retail center located in Mt. Juliet, roughly 20 miles northeast of Nashville. Phillips Edison & Co. acquired the property, which was fully leased at the time of sale, to tenants including Anytime Fitness, Starbucks Coffee, Moe’s, Pizza Hut, Papa Johns, Subway and Precision Eye Care. The sale also included 7.19 acres of undeveloped land adjacent to the shopping center. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the undisclosed seller in …
Beaverton, Ore. — Hyperion Realty Capital has purchased Beaverton Town Square in Beaverton, approximately 8 miles west of Portland. The shopping center, which is anchored by Trader Joes, comprises 103,000 square feet and multiple buildings. Kevin Adatto and Sean Tufts of CPX arranged the sale of the property on behalf of the seller, a family.
Peachtree City, Ga. — Northmarq has arranged the $15.2 million sale of Westpark Walk, a 73,847-square-foot shopping center located in Peachtree City, a southwest suburb of Atlanta. Jeff Enck and Emery Shane of Northmarq represented the seller, an unnamed private investment firm based in Washington, D.C. The buyer was an undisclosed partnership based in Atlanta. Westpark Walk was fully leased at the time of sale to 21 tenants, including Tuesday Morning, Verizon Wireless, State Farm, Firehouse Subs, Hotworx and local service providers and retailers, including Ranchero Mexican Grill, which has …
Northville, MIch. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the acquisition of a single-tenant building in Northville, a northwest suburb of Detroit. Built in 2015, the 28,780-square-foot property is occupied by Fresh Thyme Market. Chad O’Connor of MMCC secured the financing on behalf of the undisclosed borrower. The 10-year fixed-rate loan carries a 30-year amortization schedule.
Simi Valley, Calif. — JLL Capital Markets has arranged the $22.1 million sale of Griffin Plaza in Simi Valley, roughly 40 miles northwest of Los Angeles. Built in 1981, the property comprises 85,022 square feet. The center, which is anchored by Aldi and CVS/pharmacy, was 94 percent leased at the time of sale. Other tenants include Wendy’s and Varenita Assisted Living Community. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL brokered the sale on behalf of the seller, an entity doing business as Griffin Living. A private, 1031-exchange investor …
Watertown, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Plaza at Salmon Run, a 68,761-square-foot shopping center located in the upstate New York community of Watertown. Hannaford anchors the center, accounting for 76 percent of the gross leasable space with a lease that runs through 2028. Other tenants include Red Robin, boating specialist West Marine and salon Zoom Tan. Jim Koury led an IPA team that represented the buyer and seller, both of which requested anonymity, in the transaction.
Clermont, Fla. — A single-tenant restaurant property located in Clermont, approximately 25 miles west of Orlando, has been sold for $3.3 million. The building is occupied by Zaxby’s on a net-lease basis. Dominic Sulo and Benjamin Bach of Marcus & Millichap arranged the 15-year sale-leaseback on behalf of the seller, an undisclosed limited liability company. The team also secured and represented the buyer, a Texas-based LLC. Ryan Nee, Florida broker of record, assisted in closing the transaction.
Queens, N.Y. — Cord Meyer Development Co. has signed three new leases at Bay Terrace Shopping Center in the Bayside neighborhood in Queens. Restaurants Avo Taco, Rosa Pizza and Monster Crab will occupy 2,533, 2,770 and 3,988 square feet, respectively. Tom Rettaliata of RIPCO Real Estate brokered the lease with Avo Taco, and Hymie M. Dweck of RIPCO Real Estate arranged the lease with Monster Crab. Matthew O’Grady of Cord Meyer represented the company as vice president of leasing. Additionally, Kyuramen Restaurant and Bar and Gregory’s Coffee have leased space …