McDonough, Ga. — Northmarq has arranged the sale of Towne Crest Village, a 20,053-square-foot retail center located in McDonough, approximately 30 miles outside of Atlanta. Jeff Enck of Northmarq represented the private Florida-based buyer in the transaction. An individual Los Angeles-based investor sold the property for $5.7 million. Built in 2005, Towne Crest was 100 percent leased at the time of sale.
Lawrence, Kan. — Quantum Real Estate Advisors Inc. has arranged the $3.5 million sale of a multi-tenant retail strip center located in Lawrence. Jersey Mike’s, which recently signed a new 10-year lease, anchors the property. Zack Hilgendorf of Quantum represented the undisclosed buyer. The property sold to a family office based in Wichita.
Sierra Vista, Ariz. — Cushman & Wakefield|PICOR has brokered the sale of a retail property in Sierra Vista. Orion Sierra Vista AZ LLC sold the asset to 2030 East LLC for $2.3 million. Located at 354 S. Highway 92, the property features 24,000 square feet of retail space. Jose Dabdoub and Ryan McGregor of Cushman & Wakefield|PICOR represented the seller, while Robert Fischrup and Eric Lamb of Vast Commercial Real Estate Solutions LLC represented the buyer in the deal.
Rockport, Texas — Legend Communities has signed The Gnarly Marlin Waterfront Eatery & Bar to a 5-year lease at Cove Harbor in Rockport. The restaurant will occupy a 4,830-square-foot space. The Gnarly Marlin specializes in seafood and alcoholic beverages.
Willow Street, Pa. — Northpath Investments has sold Kendig Square, a 186,749-square-foot retail center located in Willow Street, roughly 70 miles west of Philadelphia. Christopher Munley, Jim Galbally, Colin Behr and James Graf of JLL Capital Markets represented Northpath in the transaction. Kendig Square, which was 95 percent occupied at the time of sale, is anchored by Weis Markets, a grocer with over 30 years of tenancy at the property. Additional tenants include Rite Aid, Planet Fitness, Dollar Tree, PNC Financial Services, UPS and Dollar General. Triple Bar Properties Inc. …
Wauconda, Ill. — AmCap Inc., in a joint venture with Encore Enterprises, has acquired Liberty Square, a 107,431-square-foot retail center located in the Chicago suburb of Wauconda. Anchored by a 54,522-square-foot Jewel-Osco, the shopping center was 97 percent leased at the time of sale to tenants including UPS, Charter Fitness, KFC, Subway, Pet Supplies Plus and PNC Bank. This acquisition marks AmCap’s fifth grocery-anchored retail center in the Chicago area. Ben Wineman of Mid-America Real Estate Corp. brokered the transaction.
Gardena, Calif. — JLL Capital Markets has brokered the sale of Redondo Plaza, a 28,000-square-foot retail center located in Gardena. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Bryan Ley of JLL represented the seller, Storm Properties, in the $15.1 million transaction. JLL also procured the private, 1031-exchange buyer. Redondo Plaza, which was 100 percent leased at the time of sale, is anchored by Aldi. Tenants include Domino’s Pizza, T-Mobile, Jackson Hewitt, Super Laundry and Crazy Rock’n Sushi.
Oklahoma City — Veritas Development’s OAK, a 20-acre mixed-use project currently under development in Oklahoma City, has attracted tenants including RH, a home furnishing store; Arhaus, a furniture and design store; and Capital Grille, a steakhouse. RH will occupy 42,000 square feet, Arhaus will lease 17,000 square feet and Capital Grille will open a 10,000-square-foot restaurant. Additionally, Veritas has announced a 132-key boutique hotel in partnership with Gatehouse Capital, and 320 multifamily homes in collaboration with Mintwood Real Estate. Work at the project site began this summer, and vertical construction …
Sterling Heights, Mich. — Millennial Collection, a trading card and gaming store, has signed a lease for 1,600 square feet at Brookside Shopping Center in Sterling Heights, a suburb of Detroit. The tenant will occupy space formerly home to an arcade. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord in the lease.
Vernon Hills, Ill. — Dallas-based real estate firm Centennial has revealed plans to expand on its Hawthorn 2.0 redevelopment of Hawthorn Mall, a super-regional shopping center in Vernon Hills, a northern suburb of Chicago. Built in 1973, the mall currently houses over 120 retailers. Centennial first announced the redevelopment of Hawthorn Mall in 2019, which included new retail and dining options, luxury multifamily housing and indoor/outdoor gathering spaces. The expanded plans nearly triple the new development at the property and include 162 units of seniors housing, a 25,000-square-foot grocery store …
