Tulsa, Okla. — Mohr Capital has acquired 20 acres of land in Tulsa for the development of a 50,000-square-foot shopping center, dubbed Tulsa Marketplace. Mohr will deliver a build-to-suit space for REI, which will anchor the property. Completion of construction is scheduled for spring 2024.
Philadelphia — Heidenberg Properties has sold Aramingo Plaza, a 64,163-square-foot retail center located in Philadelphia. Abrams Realty & Development acquired the property for an undisclosed price. Forman Mills anchors the center, which was built in 1920 and fully occupied at the time of sale. Other tenants include Citizen Bank, AT&T, Checkers and Vision Works. Christopher Munley, Jim Galbally and Colin Behr of JLL Capital Markets brokered the sale on behalf of Heidenberg Properties.
Plymouth Meeting, Pa. — Pennsylvania Real Estate Investment Trust (PREIT) has sold a retail property leased to Whole Foods Market in Plymouth Meeting, a northwestern suburb of Philadelphia, for $27 million. The 65,155-square-foot store, which is located within Plymouth Meeting Mall, features a taco truck, rooftop patio, onsite pub and private event/meeting space. Jim Galbally, Chris Munley and Colin Behr of JLL represented PREIT in the transaction. The buyer was an undisclosed institutional investment firm.
Pembroke Pines, Fla. — Avison Young’s Florida Capital Markets Group has brokered the $23 million sale of Pembroke Centre, a 29,350-square-foot strip retail center located in Pembroke Pines. David Duckworth, Michael Fay, John Crotty and Brian de la Fé of Avison Young represented the developer and seller — PP Omni Ventures, an affiliate of Hart Lyman Cos. — in the transaction. Monolith Real Estate Property Management represented the buyer, an entity doing business as OMAX Invest LLC. Situated on four acres, the property was fully leased at the time of …
Plano, Texas — STRIVE has arranged the sale of Jupiter Plaza, an 8,600-square-foot retail strip center located in Plano, on the northern outskirts of Dallas. The property was fully leased at the time of sale to tenants including Taqueria Los Angeles, Nancy’s Beauty Salon and Chuck’s Barber Shop. Hudson Lambert of STRIVE represented the California-based seller in the transaction and procured the Dallas-based buyer.
Woodbury, N.Y. — Marcus & Millichap has brokered the $11.3 million sale of a 4,875-square-foot retail property in the Long Island community of Woodbury that is net leased to Chase Bank. The newly constructed building is located at 7920 Jericho Turnpike. Alan Lipsky and Barry Wolfe of Marcus & Millichap represented the seller, an entity doing business as 7940 Woodbury Partners LLC, in the transaction. The buyer was KIT Realty Inc. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
Warren, Mich. — Liquidation sales retailer Big Discount Lot has signed an 8,000-square-foot retail lease at Pickwick Plaza in Warren, a northern suburb of Detroit. Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord.
Escondido, Calif. — Bridge Group Investments and Steerpoint Capital have acquired North County Mall in Escondido, about 30 miles north of San Diego. Unibail-Rodamco-Westfield (URW) was the seller, according to the Escondido Times-Advocate. The sales price was undisclosed. Situated on almost 83 acres, North County Mall totals nearly 1.3 million square feet. Tenants include Target, Macy’s, JC Penney, 24 Hour Fitness, Forever 21, H&M, Apple, Cheesecake Factory, BJ’s Restaurant and Brewhouse, Black Angus Steakhouse, On the Border and more. The mall opened in 1986. Although no plans were released for …
Roanoke, Va. — Cushman & Wakefield | Thalhimer has brokered the sale of Oak Grove Plaza in Roanoke. Omma Management LLC purchased the property for $4.8 million. Located at 2061 Electric Road, the retail center comprises 49,881 square feet. William D. Poe and Payal Shah of Cushman & Wakefield | Thalhimer represented the undisclosed seller in the transaction.
Spring, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of Stables Town Center, a 42,800-square-foot shopping center located in Spring, approximately 25 miles north of Houston. Walgreens anchors the property, which was built in 2001. Other tenants at the center include Texas American Title, Elite Spine and Health Center and Coldwell Banker. Kevin Fryman of Hanley, in association with ParaSell Inc., represented the undisclosed seller in the transaction. Wu Properties acquired the property for an undisclosed price.