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Chevron-Norco-Calif
CaliforniaInvestment salesNews

Progressive Facilitates $11.9 Million Sale of Gas Station Property in Norco, California

by Hayden Spiess

Norco, Calif. — Progressive Real Estate Partners has brokered the $11.9 million sale of a Chevron station, convenience store and car wash located in Norco. Both the business and property were included in the sale. Victor Buendia of Progressive represented the seller, a Los Angeles-based private investor, in the transaction. Built in 2000 and fully remodeled in 2020, the property features 18 fueling stations, a self-service express car wash and a 22,000-square-foot ExtraMile convenience store. The sale also included two rental units, currently leased to a Valvoline franchisee and a …

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FinanceNewsPennsylvania

Axiom Capital Arranges $11 Million Refinancing of Retail Property in Central Pennsylvania

by Hayden Spiess

Altoona, Pa. — Axiom Capital Corp. has arranged the $11 million refinancing of a 222,139-square-foot, single-tenant retail property located in Altoona. Walmart occupies the property, housing a grocery store, auto care center, pharmacy and a hair salon. The names of the borrower, a private investment group, and direct lender, a bank, were not disclosed.

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Ken-Hinkle
Company newsIllinoisNews

Ken Hinkle Joins Cullinan Properties as Vice President of Leasing

by Hayden Spiess

Peoria, Ill. — Ken Hinkle has joined Cullinan Properties, taking on the role of vice president of leasing. Based in Atlanta, Hinkle previously held senior positions with Kite Realty, Retail Properties of America, Simon Property Group and Federated Department Store. In his most recent position, Hinkle was responsible for the leasing of up to 4.8 million square feet. “Ken is a dynamic leasing professional who succeeds in every market he is in,” says Ann Smith, senior vice president and director of leasing and marketing. “At Cullinan, he will provide leadership …

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Chatham-Plaza-Savannah
GeorgiaInvestment salesNews

JLL Arranges Two Retail Center Sales in Savannah Totaling $63 Million

by Hayden Spiess

Savannah, Ga. — JLL Capital Markets has arranged the sales of two shopping centers located in Savannah in transactions totaling $63 million. Built in 1986, Savannah Centre comprises 186,514 square feet and was 81 percent leased at the time of sale. Tenants at the property include TJ Maxx, Bed Bath & Beyond, Shoe Carnival, JOANN Fabric and Crafts, Five Below, Rack Room Shoes and Chicken Salad Chick. Chatham Plaza totals 197,605 square feet. Originally built in 1972, the property was renovated in 2001. Tenants at the center, which was 93 …

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JRW_Realty_Giant_Eagle_grocery_store
Grocery-anchoredInvestment salesNewsOhio

JRW Realty Negotiates Sale of 115,777-Square-Foot Shopping Center in Columbus

by Hayden Spiess

Columbus, Ohio — JRW Realty has negotiated the sale of Walnut Creek Plaza in Columbus for an undisclosed price. An 86,608-square-foot Giant Eagle grocery store anchors the 115,777-square-foot shopping center, which features 13 additional retail and healthcare tenants. Nathan Webb of JRW Realty sourced the buyer, one of JRW’s exclusive institutional buyers. CBRE represented the undisclosed seller.

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The-View-at-Marlton-N.J
Investment salesNew JerseyNews

Marcus & Millichap Brokers $36.5 Million Sale of Shopping Center in Metro Philadelphia

by Hayden Spiess

Marlton, N.J. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the sale of The View at Marlton, a 91,000-square-foot shopping center located in Marlton, roughly 18 miles east of downtown Philadelphia. Paramount Realty Services acquired the property, which was 98 percent occupied at the time of sale, for $36.5 million. Brad Nathanson of IPA arranged the 1031-exchange transaction on behalf of the seller and original developer, a partnership between Abrams Realty & Development and Lazgor Co. Tenants at the property include LA Fitness, AAA, The Malvern School, Truist …

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Shoppes-of-Westlake-Commons-Westlake-Fla
DevelopmentFloridaNews

Konover South Breaks Ground on 23,000-Square-Foot Retail Center in Southeast Florida

by Hayden Spiess

Westlake, Fla. —Konover South has broken ground on Shoppes of Westlake Landings in Westlake, in the southeastern part of the state. Upon completion, the 23,000-square-foot development will comprise two multi-tenant shopping centers and a pod of quick-service restaurants. Konover acquired the property from Minto Communities in 2021. MEC Construction is serving as general contractor. Tenants that have signed leases at the center include Starbucks Coffee, KFC, Taco Bell, Habit Burger, 3Natives, Heartland Dental, Verizon Wireless, Go Green Cleaners and Orange Theater.

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Investment salesNewsTexas

Hunington Properties Arranges Sale of 12,100-Square-Foot Retail Building in San Antonio

by Hayden Spiess

San Antonio — Austin-based brokerage firm Hunington Properties has arranged the sale of a 12,100-square-foot retail building in San Antonio. Constructed in 2021, the building was fully leased to Action Behavior Center at the time of sale. Gigi Gomel of Hunington Properties represented the seller, a Houston-based limited liability company, in the transaction. Luis Garza of Transwestern represented the Alaska-based buyer.

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6603-W-Canal-Dr-Kennewick-WA
Investment salesNet leaseNewsWashington

Newmark Brokers Sales of Two Retail Properties in Washington Totaling 124,660 Square Feet

by Hayden Spiess

Kent and Kennewick, Wash. — Newmark has arranged the sales of two retail properties, totaling 124,660 square feet, in Kent and Kennewick. One property is a 67,240-square-foot vacant former Tops Foods Grocer, located in Kent. The property is part of the Canyon Ridge Shopping Center, which is shadow-anchored by Target, Ross Dress for Less, Old Navy and Petco. Located in Kennewick, the second building is a 57,420-square-foot, single-tenant property that is triple-net leased to Sportsman’s Warehouse. The property is within the Colonnade Shopping Center, which includes Ross Dress for Less, …

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CaliforniaInvestment salesNews

Red Mountain Group Purchases Portfolio of Former Big Lots Stores for $47.5 Million

by Hayden Spiess

Santa Ana, Calif. — Red Mountain Group Inc. has purchased a portfolio comprising 20 vacant Big Lots properties for $47.5 million. Totaling 463,427 square feet, the buildings are located across 20 cities and four states, with 16 of the properties in California. The all-cash transaction also involved an additional 3.5 acres of land for future retail pad development.

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