San Diego — JLL Capital Markets has negotiated the sale of a 9.3-acre redevelopment site comprising a 185,051-square-foot former department store within Mission Valley Mall in San Diego. A joint venture between Jofa Capital and BLT Enterprises acquired the property from a private seller for an undisclosed price. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller in the deal.
Granbury, Texas — STRIVE has arranged the sale of a 9,026-square-foot Dollar General in Granbury. Adam Gottschalk of STRIVE represented the seller, a wealth advisory trust, in the transaction. The buyer was a local Texas investor. Additional terms of the sale were not disclosed.
Katy, Texas — Locally-based developer NewQuest has broken ground on Texas Heritage Marketplace, a $400 million mixed-use project in the western Houston suburb of Katy. The site spans 165 acres and fronts the newly completed Texas Heritage Parkway. Current plans call for 750,000 square feet of retail, restaurant and entertainment space; two apartment communities with approximately 550 total units; and 300,000 square feet of medical office and self-storage space. Additionally, Target will anchor the retail portion of the property with a 149,000-square-foot store. A tentative completion date for the initial …
Altamonte Springs, Fla. — Denver-based Sagard Real Estate (formerly Everwest Real Estate Investors) has sold Marketplace at Altamonte, a 335,995-square-foot retail center located in Altamonte, roughly 16 miles outside Orlando. According to the Orlando Business Journal, an entity associated with Centro Property Management LLC, purchased the property for $28.9 million from Sagard’s core equity fund. The center was 55 percent occupied at the time of sale with tenants including Burlington, Ross Dress for Less and Total Wine & More. Sagard originally acquired the center in 2005.
Rancho Cordova, Calif. — Hanley Investment Group has brokered the $6.1 million sale of Shops II at Anatolia Marketplace, a multi-tenant retail pad in Rancho Cordova, approximately 13 miles from Sacramento. Built in 2023, the 9,000-square-foot property is situated on two acres. Tenants at the property — which was fully leased at the time of sale — include Anatolia Dental Group, Round Table Pizza and Livewell Pet Hospital. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace, LLC. Frank Vora of Lee …
Morristown, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Morris Marketplace, a newly developed 85,513-square-foot shopping center located in Morristown, roughly 25 miles west of New York City. The center, which is shadow-anchored by Lidl Supermarket and Burlington, was fully leased at the time of sale with more than 35 restaurant and service-oriented tenants, including Wells Fargo and Panda Express. Brad Nathanson and JP Colussi of IPA represented the seller and developer, DeVimy Equities, and procured the Ohio-based buyer, Last Mile …
Phoenix — Kidder Mathews has facilitated the $10.6 million sale of Rancho Encanto, a retail center located in Phoenix. Darren Tappen, Nathan Thinnes, Pete Beauchamp, and Patrick Gardner of Kidder Mathews represented both the seller, Dayanim Real Estate Corporation, and the buyer, Junam Enterprises, Inc., in the transaction. Kidder will manage the 70,439-square-foot property — which is anchored by Smart & Final and Aaron’s — on behalf of Junam Enterprises.
Glen Burnie, Md. — Baltimore-based Continental Realty Corp. (CRC) has sold Governors Commons, a 129,242-square-foot shopping center in the Baltimore suburb of Glen Burnie, for $9.6 million. Dean Zang and David Crotts of Marcus & Millichap represented CRC in the transaction. The buyer was not disclosed. CRC previously sold three outparcels at Governors Crossing, giving the total gross sales price of the shopping center $20.6 million. CRC originally acquired the property in 2019 through its Continental Realty Fund V LP for $16.2 million. Over the past six months, CRC has …
Wyomissing, Pa and Voorhees Township, N.J. — CBRE has arranged the sale of three retail properties located in Wyomissing and Voorhees Township, totaling approximately $14.7 million. The properties include a stand-alone Wawa convenience store and gas station in Wyomissing and two retail centers at Cedar Hill Shopping Center in Voorhees Township. The Wawa location — which sold for $7.37 million — totals 5,051 square feet and is situated in The Knitting Mills, a 54-acre mixed-use redevelopment project in Wyomissing that houses UGI Energy Services’ Corporate Headquarters. The retail strip centers …
Colton, Calif. — Progressive Real Estate Partners has brokered the $5.2 million sale of a single-tenant retail property located in Southern California’s Inland Empire occupied by a Mobil Gas Station. Victor Buendia of Progressive represented both the undisclosed seller and buyer, an Inland-Empire-based private investor, in the transaction. The buyer plans to renovate the convenience store.
