Mesa, Ariz. — Phoenix Commercial Advisors has arranged the $22 million sale of The Pavilions, a neighborhood retail center located in Mesa. At the time of sale, the 129,674-square-foot property was 96 percent leased. Current tenants include Great Clips, Banner Urgent Care, Native Grill & Wings, Over Easy and Villa Tuscana, a reception hall for weddings and other large events. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.
Rockland, Maine — Horvath & Tremblay has brokered the $13.5 million sale of Harbor Plaza, a 169,079-square-foot shopping center located in Rockland on Maine’s southern coast. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer, both undisclosed, in the transaction. Shaw’s Supermarket, HomeGoods and Staples anchor the center, which was 92.8 percent leased at the time of sale. Other tenants include Olympia Sports, Rent-A-Center, H&R Block, Label Shopper and The UPS Store.
Freeport, Ill. — Mid-America Real Estate Corp. has brokered the sale of Freeport Plaza, a shopping center located in Freeport. CRE Pro acquired the 87,846-square-foot property, which is anchored by a 62,000-square-foot Cub Foods. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, a publicly traded REIT. The center was 87 percent leased at the time of sale, and Cub Foods recently extended its lease to 2027.
Huntington Beach, Calif. — A partnership between DJM and PGIM has received approval for a mixed-use redevelopment project at Bella Terra, an 852,000-square-foot retail property located roughly 35 miles outside Los Angeles in Huntington Beach. Plans for the project, now approved by the Huntington Beach City Council, include the demolition of a 149,000-square-foot Burlington Coat Factory-occupied building and an adjacent 33,000-square-foot building. The partnership will replace the existing buildings with a low-rise structure featuring 25,000 square feet of ground-floor retail and restaurant space and five stories of residential space, comprising …
Melbourne, Fla. — A joint venture between CrossMarc Services LLC and MCB Real Estate — in partnership with Peaceable Street Capital — has purchased Post Commons, a 202,050-square-foot shopping center located in Melbourne. The property was 96 percent leased at the time of sale to tenants including Publix, which occupies 44,270 square feet; Beall’s; Pet Supermarket; Burlington; and Five Below. Marcus & Millichap represented the undisclosed seller in the transaction. Flavia Kanyago of CrossMarc will handle leasing at the center.
Orlando, Fla. — Albany Road Real Estate Partners has purchased Lake Point Commerce Center, a 134,000-square-foot retail center in Orlando. Located near the Orlando International Airport, the property comprises six buildings and sits within Lee Vista Center, a mixed-use development. Lake Point was 98 percent leased at the time of sale to 19 tenants, including Flying Food Group. Patterson Real Estate Advisory Group secured financing on behalf of the buyer through Trustmark National Bank.
Hopkinsville, Ky. — Berkeley Capital Advisors has arranged the sale of Park Plaza, a 116,611-square-foot retail center located in Hopkinsville, in the southwest part of the state. Park Plaza was 98 percent leased at the time of sale to tenants including Big Lots, Planet Fitness and Dollar General. Addison Montague, Rad von Werssowetz and Morgan Hall of Berkeley represented the undisclosed sellers in the transaction.
Northbrook, Ill. — JRW Realty has arranged the acquisition of a 90,408-square-foot Mariano’s grocery store located in Northbrook, a suburb of Chicago. Christopher Thompson of JRW represented the institutional buyers, who purchased the store as part of a focus on acquiring net-leased properties. Cushman & Wakefield represented the undisclosed seller. Mariano’s is a subsidiary of Kroger.
White Plains, N.Y. — Pacific Retail Capital Partners (PRCP) and Aareal Bank have formed a new joint venture with SL Green Realty Corp. and the Cappelli Organization to consider redevelopment options for The Galleria at White Plains, a 10-acre indoor shopping mall in the New York City suburb of White Plains. The envisioned renovations to The Galleria are part of a larger renaissance for the area. The mall is part of a qualified Opportunity Zone, meaning that new investments in the area may be eligible for preferential tax treatment under …
North Las Vegas, Nev. — Agora Realty and Management has broken ground on a 29-acre mixed-use, master-planned commercial district in downtown North Las Vegas. The redevelopment project is located at the gateway to the city, east of Interstate 5 along Lake Mead Boulevard and north along Las Vegas Boulevard. Scheduled for completion in 24 months, the $105 million project will include 200,000 square feet of retail space and 125,000 square feet of healthcare and medical office space. Earlier this year, Agora started construction on a 22,000-square-foot medical office building that will …
