Bluffton, S.C. — JLL Capital Markets has brokered the sale of a 118,440-square-foot shopping center located in Bluffton, five miles from Hilton Head Island. Jim Hamilton, Brad Buchanan, Tom Kolarczyk and Andrew Kahn of JLL represented the seller, Jaz Development LLC, in the $25.2 million transaction. Anchored by Aldi, PGA TOUR Superstore and Hobby Lobby, Bluffton Shopping Center was 99 percent leased at the time of sale. Other tenants include First Watch, Tropical Smoothie Café, Sleep Number, Aspen Dental, The Spirited Hand and Boutique Nails. Serota Properties acquired the property.
Chicago — NAI Miami has arranged the sale of a former Midas Total Car Care center located at 158 W. Grand Ave. in Chicago for $4 million. Jeremy Larkin and Joseph Gallaher of NAI Miami, along with Elan Rasansky and Al Rodenbostel of ARC Real Estate Group, represented the seller, TBC Corp. The buyer, Friedman Properties Ltd., developed the adjacent Moxy Hotel. The sales price equates to roughly $470 per square foot.
Jacksonville, N.C. — Lori Schneider and David Gant of Marcus & Millichap have arranged the sale of Gateway Marketplace, a 131,780-square-foot shopping center located in Jacksonville. Anchored by Publix Supermarket, HomeGoods, Michaels and Ulta Beauty, the center is comprised of 16 suites and sold for $29 million. Prestige Properties and Development LLC was the buyer, procured by Marcus & Millichap on behalf of the seller.
Gahanna, Ohio — PEBB Enterprises has sold Hunter’s Ridge Shopping Center, an 84,724-square-foot retail center located in Gahanna, roughly nine miles northeast of Columbus. WB Ventures LLC purchased the property for $10 million. Evan Halkias and Hank Davis of Cushman & Wakefield represented the seller in the transaction. Shadow-anchored by Kroger Marketplace, the center was 93 percent leased at the time of sale. Tenants include Planet Fitness and Goodwill, which together occupy 42 percent of the center’s leasable space. Taco Bell and McDonald’s outparcels are also located at the property …
Edinburg, Texas — Marcus & Millichap has brokered the sale of Concord Plaza, a 44,850-square-foot retail center located in the Rio Grande Valley city of Edinburg. The property was built in 2018 and was 99 percent leased at the time of sale. Coleman Solomon, Joseph Blanga and Wes Peacock of Marcus & Millichap represented the seller, an unnamed developer, and procured the buyer, a private investor, in the transaction.
Saugus, Mass. — Atlantic Capital Partners has arranged the sale of a retail building, formerly occupied by Sears, located within Square One Mall in Saugus, a northern suburb of Boston. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
Cleveland, Ohio — Real estate software solutions provider MRI Software has acquired Springboard. Springboard provides retail activity and shopper insights through the use of plug-and-play software, existing camera networks and proprietary AI-powered algorithms. MRI plans to expand its @Work retail solutions suite, which currently serves 500 retailers and property owners internationally.
Orange Park, Fla. — Matthews Real Estate Investment Services has brokered the sale of Blanding Square, a 40,376-square-foot retail center located at 110 Blanding Blvd. in Orange Park. The value-add property was stabilized at the time of sale with tenants paying below-market rents, according to Matthews. Johnny Blue Craig and Tripp Brown of Matthews represented the undisclosed seller, a private investor, in the transaction. The unnamed, South Florida-based buyer has the option to expand the shopping center by adding an outparcel at the corner of Blanding Boulevard and Jefferson Avenue. …
Stonecrest, Ga. — Stonecrest Resorts LLC, developer of the Sears adaptive reuse project at The Mall at Stonecrest in metro Atlanta, has announced 12 new tenants coming to the development. Phase I of the redevelopment project, called Priví, was the arrival of the SeaQuest Interactive Aquarium that opened in November 2021. The second phase of the project is set to open this fall and include Hand & Stone Massage and Facial Spa; Baldwin’s Literary Social Bookstore & Coffee Bar; 3 Degrees Infrared Sauna Suites; The Lions Cage MMA Fight & …
Colorado Springs, Colo. — Blue West Capital has brokered the sale of a single-tenant, net-leased retail building located at 1358 Republic Drive in Colorado Springs. A private REIT sold the property to a Florida-based investor for $4.4 million. Firestone Complete Auto Care occupies the 6,116-square-foot building, which was constructed in 2021, on a long-term, absolute triple-net lease that includes rental increases every five years. Brandon Gayeski and Zach Wright of Blue West Capital represented the seller in the transaction.