Fishers, Ind. — Midland Atlantic Properties has arranged the $7.5 million sale of Fishers Corner shopping center in the Indianapolis suburb of Fishers. The 28,359-square-foot property was built in 2005 and was fully leased at the time of sale. Jacque Haynes of Midland Atlantic represented the seller, Sena Realty FC LLC. Johnny Vassallo managed the acquisition on behalf of the buyer, POG Kosmos Fishers LP. First Financial Bank provided acquisition financing.
New York City — American Finance Trust Inc. (NASDAQ: AFIN) has entered into a definitive agreement to acquire a portfolio of 81 retail centers from CIM Real Estate Finance Trust, a REIT managed by Los Angeles-based CIM Group. The transaction is valued at $1.32 billion. The 9.5 million-square-foot portfolio comprises power retail and grocery-anchored shopping centers, as well as two single-tenant properties. The weighted average lease term of the portfolio is five years, according to CIM. The names and locations of the retail properties were not disclosed. The transaction price comprises primarily …
Plano, Texas — JAH Realty has purchased Preston Parkway Center, a 62,394-square-foot shopping center in Plano. At the time of sale, the property was 79 percent leased to tenants such as Red Hot & Blue, Einstein Bros. Bagels, Dogtopia, Honey Baked Ham, Ben & Jerry’s. Toronto-based Great Gulf sold the asset for an undisclosed price. Dallas-based John Freese & Associates brokered the deal.
Stone Mountain, Ga. — First National Realty Partners has acquired Crowe’s Crossing, a 93,728-square-foot shopping center in Stone Mountain. The seller and sales price were not disclosed. Located at 1232 South Hairston Road, the property is situated approximately 12 miles east of downtown Atlanta. The shopping center was 97 percent occupied at the time of sale and anchored by a 45,528-square-foot Kroger Supermarket. The other tenants were not disclosed.
La Palma, Redondo Beach, El Cajon, Rosamond and Modesto, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of five single-tenant retail properties net leased to Starbucks Coffee in La Palma, Redondo Beach, El Cajon, Rosamond and Modesto. The properties were sold in five separate transactions for a combined value of $21.1 million. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group represented the sellers of the La Palma and Redondo Beach properties. Asher and Lefko represented the sellers of the El Cajon, Rosamond and …
Windsor, N.J. — Cronheim Mortgage has arranged a $19 million permanent loan for The Shops at Windsor Green, a 157,200-square-foot retail center in West Windsor, a northeastern suburb of Trenton. Whole Foods Market, Marshall’s and Staples are the anchor tenants at the property, which was originally built in 1993. Andrew Stewart, Dev Morris and Allison Villamagna of Cronheim Mortgage placed the loan with a life insurance company on behalf of the borrower, Mainardi Management Co. The loan carries a seven-year term and fixed interest rate of 3 percent.
Carrollton, Texas — Marcus & Millichap has negotiated the sale of Woodlake Square, an 80,774-square-foot retail center located in the northern Dallas suburb of Carrollton. Woodlake Square was built on 6.7 acres in 1979 and renovated in 2019. Tenants at the property, which was 94 percent leased at the time of sale, include Harbor Freight Tools, LA Fitness and Dollar Tree. Philip Levy of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Levy also procured the buyer, a locally based 1031 exchange investor. Both parties …
El Cajon, Calif. — Brixton Capital has completed the disposition of Fletcher Marketplace, a retail strip center situated on 1.9 acres at 110 Fletcher Parkway in El Cajon. A private investor acquired the asset for $11.4 million. Built in 2020, the two-building, 11,996-square-foot Fletcher Marketplace is triple-net leased to five tenants, including Mattress Firm, Dave’s Hot Chicken, The Joint Chiropractic, Urbane Café and California Fish Grill. Gleb Lvovich and Daniel Tyner of JLL Retail Capital represented the seller in the deal. Don Moser of Retail Insite provided local market support.
Baldwin Park, Calif. — JLL Capital Markets has arranged the $4.7 million sale of a single-tenant retail pad totaling 4,068 square feet in Baldwin Park. Adam Friedlander of JLL represented the seller, Paragon Commercial Group. A private buyer acquired the property. Located at 13602 Francisquito Ave., the retail property is an outparcel to Sierra Shopping Center, which is anchored by Target and Food 4 Less. Built in 2020, the property has Raising Cane’s Restaurant LLC as a tenant under a 15-year triple-net lease.
Naples, Fla. — JLL Capital Markets has brokered the $97 million sale of Granada Shoppes, a 307,000-square-foot shopping center in Naples. Danny Finkle and Eric Williams of JLL represented the sellers, Courtelis Co. and Barron Collier Cos., in the disposition of the property to Brixmor Property Group. Anchored by Trader Joe’s, Granada Shoppes was 98 percent leased at the time of sale to tenants including Marshalls, Haverty’s Furniture, Dollar Tree, Tuesday Morning, Xfinity, First Watch, Jersey Mike’s, Sports Clips, Visionworks, Men’s Wearhouse, Petland of Naples, Hobby Lobby and P.F. Chang’s.