La Verne, Calif. — Faris Lee Investments has arranged the $17.3 million sale of La Verne Plaza, a retail center located in the Los Angeles County community of La Verne. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller and procured the San Gabriel Valley-based buyer in the all-cash transaction. The property is shadow-anchored by Stater Brothers and In-N-Out Burger.
Beverly, Mass. — Aubuchon Realty Co. (ARC) has acquired Dodge Crossing, a 21,350-square-foot retail center located in the Boston suburb of Beverly, for $6.6 million. Citizens Bank and Mattress Firm anchor the property, which was constructed in 1973 at the intersection of Enon Street and Dodge Street. The seller in the all-cash transaction was undisclosed.
Chattanooga, Tenn. — Nordstrom Inc. plans to open a new Nordstrom Rack store at The Terrace at Hamilton Place, an open-air shopping center located at the intersection of Shallowford Road and I-75 in Chattanooga. This will be the third Nordstrom Rack and fourth Nordstrom concept in Tennessee. CBL Properties owns and manages Hamilton Place, which houses retailers including Academy Sports + Outdoors, DSW, Ulta Beauty and Old Navy. CBL Properties plans to open the Nordstrom Rack store in spring 2023.
Orland Park, Ill. — Quantum Real Estate Advisors Inc. has negotiated the $2.4 million sale of a 17,342-square-foot retail building in the Chicago suburb of Orland Park. The property, located at 16124 S. La Grange Road, was fully leased to Children of America and Bear Paddle at the time of sale. Chad Firsel of Quantum brokered the transaction. A Chicago-based private real estate investment group purchased the property from a San Diego-based development company.
Orlando, Fla. — Limestone Asset Management and Orion Real Estate Group have purchased Millenia Plaza, a 411,503-square-foot shopping center located at 4403-4467 Millenia Plaza Way in Orlando. The seller, North American Development Group (doing business as Millenia Plaza LLC), sold the property for $74.1 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction. Ocean Bank provided an undisclosed amount of acquisition financing in the transaction. Millenia Plaza’s tenant roster includes The Home Depot, BJ’s Wholesale Club, Ashley Furniture, Dick’s Sporting Goods, Total Wine & More and …
Lawrence, Kan. — Marcus & Millichap has brokered the sale of Lawrence Marketplace in Lawrence for $10.5 million. The 90,982-square-foot retail center is located at 2525 Iowa St. Anchor tenants at the fully occupied property include Planet Fitness and Office Depot. Zach Turner, Scott Wiles, Mark Ruble, Erin Patton, Craig Fuller and Chris Lind of Marcus & Millichap represented the seller, a Kansas-based limited liability company. The team also secured the buyer, a New York-based limited liability company.
Lakeville, Minn. — Upland Real Estate Group has arranged the $4.5 million sale of a retail property occupied by KinderCare Learning Center in the Minneapolis suburb of Lakeville. The building is part of Crossroads of Lakeville, a 127,070-square-foot shopping center anchored by Cub Foods. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland brokered the sale. A local buyer purchased the asset while completing a 1031 exchange. KinderCare operates more than 1,500 early childcare centers in 40 states.
Baton Rouge, La. and McDonough, Ga. — Faris Lee Investments has brokered the sale of two convenience store properties located in Louisiana and Georgia. Jeff Conover, Scott DeYoung and Hunter Steffien of Faris Lee represented the undisclosed seller in both transactions, which totaled $8.2 million. Dispositions include a single-tenant property occupied by Murphy Oil under a 20-year, absolute, triple-net ground lease at the intersection of Airline Highway and Old Hammond Highway in Baton Rouge, Louisiana; and a single-tenant property occupied by QuikTrip under a 15-year, absolute, triple-net lease in McDonough, …
Redondo Beach, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.3 million sale of a single-tenant retail building located in Redondo Beach, roughly 19 miles southwest of Los Angeles. The 9,502-square-foot property is net-leased to Phenix Salon Suites. The building is located within King Harbor Plaza, a shopping center anchored by Petco and Smart & Final Extra! Bill Asher and Jeff Lefko of Hanley represented the seller, a private investor based in Los Angeles. John Boyle of Midland Business Properties represented the buyer, a private investor based in …
Yorktown, Va. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has negotiated the sale of Boulevard Crossing, a 12,600-square-foot retail strip center located in the Hampton Roads city of Yorktown. An out-of-town 1031 buyer purchased the property from an entity doing business as Boulevard Crossing LLC for $4.6 million. Clark Simpson and Erik Conradi of Thalhimer represented the seller in the transaction. Built in 2016 at 8135 George Washington Highway, Boulevard Crossing was fully leased at the time of sale to tenants including Starbucks Coffee, Tropical Smoothie Café and Verizon …
