News

Two Class B Mall Redevelopment Projects Near Atlanta, St. Louis Unveiled

by Julia Sanders January 27, 2022

North Decatur, Ga. and Crestwood, Mo. — Real estate developer EDENS and the City of Crestwood have separately announced two massive mall redevelopment projects in the Atlanta and St. Louis metropolitan areas, respectively. The redevelopment of Class B malls into mixed-use, open-air centers has continued to grow in popularity as shopping center owners and operators look to contend with e-commerce through the delivery of thoughtful spaces that provide an experience for visitors. North Dekalb Mall EDENS purchased North Dekalb Mall last year with plans to redevelop the property into a …

January 27, 2022

Investment sales Massachusetts News

JLL Arranges $44.3 Million Sale of Grocery-Anchored Center in Suburban Boston

by Julia Sanders January 27, 2022

Braintree, Mass. — JLL Capital Markets has arranged the $44.2 million sale of Stop & Shop Plaza, a 173,798-square-foot neighborhood shopping center in Braintree, roughly 13 miles outside Boston. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the disposition of the property to Sterling Organization. Situated on 18.8 acres at 238-310 Grove St., the center was home to tenants including Stop & Shop, CVS/pharmacy, Town Fair Tire, The Paper Store and Crunch Fitness at the time of sale.

January 27, 2022

Investment sales News Texas

Fidelis Realty Partners Buys 613,468-Square-Foot Retail Power Center in Metro Houston

by Julia Sanders January 27, 2022

Pearland, Texas — Fidelis Realty Partners has purchased Shadow Creek Ranch, a 613,468-square-foot retail power center located in the southern Houston suburb of Pearland. Built in 2008 and anchored by grocer H-E-B, Shadow Creek Ranch was 98 percent leased at the time of sale. Other tenants include Academy Sports + Outdoors, Ashley HomeStore, Burlington, Dynamic Fitness, Hobby Lobby, Men’s Wearhouse, Pure Barre, Salata, Taco Cabana, Longhorn Steakhouse and Subway. Ryan West, Chris Gerard, Barry Brown, Wendy Vandeventer and Katherine Miller of JLL represented the seller, EDENS, in the transaction. Fidelis …

January 27, 2022

Illinois Investment sales News

Joint Venture Acquires 160,301-Square-Foot Grocery-Anchored Shopping Center in Suburban Chicago

by Julia Sanders January 27, 2022

Schaumburg, Ill. — A joint venture between PCCP and KPR Centers has acquired Schaumburg Corners, a 160,301-square-foot shopping center in the Chicago suburb of Schaumburg. The purchase price was undisclosed. Anchored by Amazon Fresh, the fully leased property was also home to Bob’s Furniture, Office Depot, Petco and H Mart at the time of sale. Kensington Development Partners was the seller.

January 27, 2022

California Investment sales News

Hanley Investment Group Brokers Sale of Four Single-Tenant Retail Properties in Metro Los Angeles

by Julia Sanders January 27, 2022

Rosamond, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of four single-tenant, net-leased retail properties at a shopping center in Rosamond for a combined $19.3 million. Four separate buyers acquired the properties, which feature a combined total of 28,462 square feet and were built in 2021. Bill Asher and Jeff Lefko of Hanley Investment Group represented the developer and seller, a partnership between Halferty Development Co. and Net Lease Alliance. In the first transaction, Asher and Lefko brokered the sale of a 16,000-square-foot Grocery Outlet-occupied property …

January 27, 2022

Colorado Georgia Investment sales News North Carolina

Marcus & Millichap Arranges Sale of Three Retail Properties in Colorado, North Carolina and Georgia

by Julia Sanders January 27, 2022

Golden, Colo., Charlotte, N.C. and Lithonia, Ga. — Marcus & Millichap has arranged the sale of three retail properties in Colorado, North Carolina and Georgia. Dispositions include an Advance Auto Parts location at 17151 South Golden Road in Golden, Colorado; a Dollar General location at 3708 Oakdale Road in Charlotte, North Carolina; and a Napa Auto Parts located at 7227 Covington Highway in Lithonia, Georgia. The three properties were purchased in one transaction by an undisclosed publicly-traded real estate investment company. Drew Isaac of Marcus & Millichap represented the seller, …

January 27, 2022

California Investment sales News

Brixmor Property Group Purchases Brea Gateway Center Shopping Center in Orange County for $85.7 Million

by Julia Sanders January 25, 2022

Brea, Calif. — Brixmor Property Group has purchased Brea Gateway Center, a 181,891-square-foot retail center located at 101-407 W. Imperial Highway in Brea. An institutional investor sold the property for $85.7 million. At the time of sale, the center was 98 percent occupied by tenants including Ralphs, HomeGoods, Cost Plus World Market, Mattress Firm, Taco Bell and Panda Express. Gleb Lvovich, Bryan Ley, Geoff Tranchina and Daniel Tyner of JLL Retail Capital Markets represented the seller in transaction.

January 25, 2022

California Investment sales News

NewMark Merrill Cos. Acquires 97,555-Square-Foot Retail Center in Central California

by Julia Sanders January 25, 2022

Santa Maria, Calif. — NewMark Merrill Cos. has acquired North Broadway Plaza, a 97,555-square-foot retail center located at the NE corner of N. Broadway & E. Grant St. in Santa Maria. Reza Investment Group represented NewMark Merrill and the undisclosed seller in the acquisition. North Broadway Plaza has tenants including Food Maxx, CVS/pharmacy, Goodwill, Chase and Verizon Wireless.

January 25, 2022

Florida Investment sales News

Marcus & Millichap Brokers $10.4 Million Sale of Three-Tenant Retail Property in South Florida

by Julia Sanders January 25, 2022

Coconut Creek, Fla. — Marcus & Millichap has arranged the $10.4 million sale of a three-tenant retail property in Coconut Creek. Michael Salafia, Gabriel Britti, Ricardo Esteves and Ronnie Issenberg of Marcus & Millichap represented the seller, a publicly traded REIT, and procured the buyer, Boca Gas Co. Tenants at the two-building property include Shell, Daily’s Convenience and Firestone Complete Auto Care. The property spans 94,090 square feet on 2.2 acres at 6350 N State Road 7 and 6330 US-331 South.

January 25, 2022

Georgia Investment sales News

SRS Brokers Sale of 86,166-Square-Foot Shopping Center in Metro Atlanta

by Julia Sanders January 25, 2022

Douglasville, Ga. — SRS’ Investment Properties Group has brokered the sale of Douglasville Marketplace, an 86,166-square-foot shopping center located in Douglasville. The seller, a family office out of Dallas, sold the property for $11.6 million to Continental Property Group LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller and the buyer was self-represented in the transaction. Built in 2000 on 9.4 acres, Douglasville Marketplace was fully occupied at the time of sale by tenants including Kaiser Permanente, Ashley Homestore and Best Buy. The property is shadow-anchored by Lowe’s …

January 25, 2022

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