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Brentwood
CaliforniaInvestment salesNews

Weiss Development Sells Brentwood Shopping Center in Los Angeles for $30 Million

by Julia Sanders

Los Angeles — Weiss Development has completed the disposition of Brentwood Shopping Center, a retail property located at 11674-11690 San Vicente Blvd. in Los Angeles. Fields Holdings acquired the asset for $30 million in an off-market transaction. Tenants at the 14,789-square-foot center include Chipotle, Juice Crafters, Planet Beauty, Juan Juan Salon, Coffee Bean & Tea Leaf, Harry’s Wine and Spirits, Winston Pies and Claudio D’Italio. Bill Bauman and Kyle Miller represented the seller in the deal.

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Investment salesMinnesotaNews

KW Commercial Arranges Sale of Shopping Center in Metro Minneapolis

by Julia Sanders

Robbinsdale, Minn. — KW Commercial has arranged the sale of Robin Center, a shopping center located roughly six miles outside Minneapolis in Robbinsdale. Dollar Tree, CVS/pharmacy and Car-X anchor the center, which is located at 4044-4152 Lakeland Ave. N. Matthew Klein of KW Commercial represented the buyer, Robin Center Partners LLC, in the transaction. Steven Nelson and Kyle Thompson of Hoyt Properties, along with Chet Masserano of Corporate Real Estate Brokers, represented the seller, an entity known as Robin Center LLP. The sales price was not disclosed.

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Shopping center
AlabamaInvestment salesNews

SRS Brokers $4.5 Million Sale of 28,000-Square-Foot Shopping Center in Alabama

by Julia Sanders

Valley, Ala. — SRS’ Investment Properties Group has brokered the $4.5 million sale of Shops at Valley, a 28,000-square-foot shopping center in Valley. Boris Shilkrot of SRS represented the seller, OSCI Properties, in the transaction. The buyer, Prudent Growth Partners LLC, was self-represented in the transaction. The shopping center is shadow-anchored by Walmart Supercenter and fully occupied by tenants including Ace Hardware, Workout Anytime, H&R Block, T-Mobile and Advance America.

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Hemet
CaliforniaInvestment salesNews

Progressive Real Estate Negotiates $1.7 Million Sale of Development Site in California

by Julia Sanders

Hemet, Calif. — Progressive Real Estate Partners has negotiated the sale of a 3.3-acre commercial land parcel in Hemet. Sater Hemer LLC acquired the property from an undisclosed seller for $1.7 million. The buyer plans to develop a gas station, car wash and drive-thru restaurant on the site, which is located at the northeast corner of Florida and Soboba avenues. Neither a timeline nor specific development plans have been released. Chris Lindholm of Progressive Real Estate Partners represented both parties in the transaction.

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Tivoli Village
Investment salesNevadaNews

3D Investments Acquires Tivoli Village Mixed-Use Development in Las Vegas for $216 Million

by Julia Sanders

Las Vegas — 3D Investments has purchased Tivoli Village, an open-air, mixed-use property located at 400 S. Rampart Blvd. in Las Vegas. Property and Building Corp. and IDB Group USA sold the center for $216 million. Built in 2009 and 2016, Tivoli Village features 669,406 square feet of Class A office, retail and restaurant space across 28 acres. Additionally, the property includes an 8.3-acre development parcel entitled for more than 300 residential units. Marlene Fujita Winkel of Cushman & Wakefield’s Las Vegas office represented the seller in the deal. Dave …

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DevelopmentFloridaNews

St. Joe Co. Breaks Ground on 350,000-Square-Foot Shopping Center in Panama City Beach, Florida

by Julia Sanders

Panama City Beach, Fla. — St. Joe Co. has broken ground on Watersound West Bay Center, a 350,000-square-foot shopping center located in Panama City Beach. The project will include a mix of retail, restaurant, office and medical space. Site work on the project is underway, with vertical construction scheduled to begin in the fall. St. Joe Co. plans to build the project to feature golf cart and pedestrian connectivity. Other plans include mixed-use buildings with first floor shopping and dining options and second floor office space, as well as a …

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Beaufort Station
DevelopmentNewsSouth Carolina

Morgan Cos. to Develop 200,000-Square-Foot Shopping Center in South Carolina

by Julia Sanders

Beaufort, S.C. — The Morgan Cos. has plans to develop Beaufort Station, a 200,000-square-foot shopping center in Beaufort. The firm acquired 31 acres for the project. The sales price and seller for the land were not disclosed. Construction is expected to start this quarter, with the project set for completion by the fall of 2023. The shopping center will be home to tenants including Hobby Lobby, Ross Dress for Less, Ulta Beauty and Old Navy. Zach Means of Divaris Real Estate Inc. represented The Morgan Cos. in the land transaction, …

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shopping center
ColoradoInvestment salesNews

NavPoint Real Estate Brokers Sale of 126,471-Square-Foot Shopping Center in Colorado Springs

by Julia Sanders

Colorado Springs, Colo. — NavPoint Real Estate Group has arranged the sale of Carefree Shopping Center, a retail property located at 3315-3541 N. Academy Blvd. in Colorado Springs. DCP Carefree sold the center to Alturas Real Estate Fund for $15.8 million. At the time of sale, the 126,471-square-foot property was 98 percent occupied by tenants including Family Dollar, Metro PCS, Human Bean Coffee, Pizza Hut and New Horizons Thrift Store. Matt Call and Collin Tedesco of NavPoint Real Estate Group handled the transaction.

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CaliforniaInvestment salesNews

Pine Tree Acquires Shopping Center in Glendale, California for $64 Million

by Julia Sanders

Glendale, Calif. — Pine Tree, in partnership with a U.S. state pension fund, has acquired Glendale Marketplace, a 154,049-square-foot shopping center located in downtown Glendale. An undisclosed seller sold the property for $64 million. JLL Capital Markets brokered the sale. Situated at the intersection of South Brand Boulevard and East Harvard Street, Glendale Marketplace is home to tenants including LA Fitness, HomeGoods, Ross Dress for Less, Five Below, Buffalo Wild Wings and Old Navy.

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FloridaInvestment salesNews

JLL Arranges $13 Million Sale of Shopping Center in Ocala, Florida

by Julia Sanders

Ocala, Fla. — JLL Capital Markets has arranged the $13 million sale of the Boyd Market Center, a 102,066-square-foot retail center in Ocala. Brad Peterson, Whitaker Leonhardt, Michael Brewster and Eric AmRhein of JLL represented the seller, an undisclosed real estate and finance company. V3 Commercial Advisors advised the buyer, V3 Capital Group LLC. Located at 2800 SW 24th Ave., Boyd Market Center was 95.7 percent leased at the time of sale to tenants including Conn’s Home Plus, Plant Fitness, Shoe Carnival, Moe’s Southwest Grill, GameStop and CSL Plasma.

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