West Hempstead, N.Y. — RIPCO Real Estate has brokered the $5.6 million sale of a 10,125-square-foot retail building located in the Long Island community of West Hempstead. The property is leased to CVS/pharmacy through 2032. A partnership between two locally based limited liability companies sold the property to private investor Kenny Mauer. Stephen Preuss, Kevin Louie, Gene Spiegelman, Kevin Schmitz and Andreas Efthymiou of RIPCO brokered the deal.
Commerce City, Colo. — Blue West Capital has arranged the $3.4 million sale of a single-tenant retail property occupied by Starbucks Coffee in Commerce City, about 6 miles from Denver. Brandon Gayeski and Robert Edwards of Blue West Capital represented the seller, a Colorado-based partnership. The buyer was a 1031 exchange investor based in Colorado. The 2,340-square-foot property features a drive-thru and was constructed in 2020. Located at 4860 East 60th Ave., Starbucks Coffee occupies the property on a long-term lease.
Charlotte, N.C. — Stonemar Properties is adding several new restaurants and service providers at Ballantyne Village, a mixed-use development in Charlotte that features offices, shops, restaurants and a 14-story AC Hotel. New tenants include Casa Del Tequila, a 2,623-square-foot Mexican restaurant and tequila bar; Vel Tree, a 2,503-square-foot vegan restaurant; and Deka Lash, a 1,082-square-foot eyelash extension and beauty shop. Vel Tree is open, and both Casa Del Tequila and Deka Lash are expected to open by early summer. Foundry Commercial oversees property management and office and retail leasing at …
Reading, Pa. — JLL Capital Markets has arranged the sale of Exeter Commons, a 361,095-square-foot shopping center anchored by Giant Food and Lowe’s Home Improvement in Reading. Christopher Munley, James Galbally and Colin Behr of JLL represented the undisclosed seller in the disposition of the property to Wharton Realty Group Inc. Completed in 2009, Exeter Commons was 99.5 percent leased at the time of sale to tenants including Ross Dress for Less, PA Wine & Spirits, Five Below, Petco, Staples, Famous Footwear, America’s Best Contacts, Moe’s Southwest Grill, Red Robin, …
Bala Cynwyd, Pa. — Federal Realty Investment Trust will redevelop Bala Cynwyd Shopping Center, a 174,000-square-foot retail and dining destination in Bala Cynwyd, about 6 miles from Philadelphia. The $8 million project will include upgrading façade aesthetics, creating common- and tenant-designated outdoor dining and gathering areas and improving pedestrian and vehicular circulation. Additionally, up to 80 outdoor seats and eight curbside pickup spaces will be added. Completion is scheduled for summer 2023. Current tenants at the 23-acre center include ACME Markets, Michaels, Five Guys and Honeygrow. All tenants will remain …
Blythe, Calif. — Marcus & Millichap has brokered the sale of a retail property located at 1900 E. Hobsonway in Blythe near the California-Arizona border. A private investor sold the property to an individual/personal trust for $1.7 million. A Mobil gas station and convenience store occupies the 2,816-square-foot retail property. Bruce Haulley of Marcus & Millichap’s Palm Springs office represented the buyer and seller in the deal.
Broomall, Pa. — Federal Realty Investment Trust is underway on the second phase of the redevelopment of Lawrence Park Shopping Center, a 374,000-square-foot retail and dining destination located in the northwestern Philadelphia suburb of Broomall. The project carries a total price tag of $30 million. ACME Markets currently anchors the 29-acre center, and other tenants include HomeGoods, T.J. Maxx and Mrs. Marty’s Deli. The redevelopment began last year with the delivery of a healthcare facility for Main Line Health. Phase II includes the addition of 32,000 square feet of retail …
Maplewood, Minn. — Arizona Partners has acquired Birch Run Station in Maplewood, about 14 miles from Minneapolis. The 279,343-square-foot shopping center is home to tenants such as Burlington, Jo-Ann and Dollar Tree. CBRE represented the seller, Voya Investment Management, in the transaction.
Torrance, Calif. — Anchor Point Capital has arranged the sale of Pacific Plaza, a multi-tenant retail center located at 2382, 2390 and 2396 Crenshaw Blvd. in Torrance, about 15 miles from Long Beach. A private family fund acquired the property from an undisclosed seller for $16.9 million. Woori Bank, Subway and The UPS Store are tenants at the 28,000-square-foot property. Eric Vu of Newport Beach-based Anchor Point Capital handled the transaction.
Clermont, Fla. — Continental Realty Corp. has sold Glenbrook Commons, a 64,707-square-foot shopping center in Clermont, about 34 miles from Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller in the transaction. CrossMarc Services acquired the property for $9.4 million. Originally constructed in 2009, Glenbrook Commons was 98.4 percent leased at the time of sale. Fitness CF anchors the center, which is also home to US Taekwondo, China Gourmet, Gametime Barber Shop, The Cat Garden, Clermont Family Dentistry and Suncoast Premier Medical. There were three additional …