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Faris Lee InvestmentsNevadaNewsWashington

Faris Lee Arranges Sales of Two Grocery Stores in Nevada, Washington for $22.4 Million

by Julia Sanders

Henderson, Nev. and Millwood, Wash. — Faris Lee Investments has brokered the $22.4 million sales of two single-tenant grocery stores totaling 106,254 square feet in Nevada and Washington. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the undisclosed buyers and seller, a Southern California-based family private office, in the deals. The transactions included the disposition of a 58,254-square-foot Albertsons property in Henderson, roughly 16 miles outside Las Vegas; and a 48,000-square-foot Safeway in Millwood, roughly 8 miles outside Spokane.

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Rockford Commons
IllinoisInvestment salesNews

Quantum Arranges Sale of 89,000-Square-Foot Shopping Center in Northern Illinois

by Julia Sanders

Rockford, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of Rockford Commons, an 89,000-square-foot shopping center in Rockford. Ross Dress for Less and Best Buy anchor the property, which was fully leased at the time of sale. Chad Firsel of Quantum represented the seller, Core Acquisitions LLC. Daniel Waszak of Quantum represented the buyer, a Dallas-based REIT. The sale also included an outparcel for future development.

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LeasingNewsTexas

AutoZone to Open 33,000-Square-Foot Store at Southbridge Plaza in South Austin

by Julia Sanders

Austin, Texas — AutoZone has signed a lease to open a 33,000-square-foot “mega hub store” at Southbridge Plaza in Austin. The automotive retailer will operate its store, which will feature an expanded selection of parts and accessories, out of a 46,000-square-foot space that formerly housed an H-E-B grocery store. The remaining 13,000 square feet is leased to Hispanic grocer Casa Grande Supermercado. Cam Longmire and Gabe Sanchez of Weitzman represented the undisclosed landlord in the lease negotiations. Edwin Williams represented AutoZone. Other tenants at Southbridge Plaza include Dollar Tree, Sherwin-Williams, …

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CaliforniaInvestment salesNews

Calbay Development Buys 26,000-Square-Foot Retail Property in Metro Los Angeles

by Julia Sanders

Alhambra, Calif. — Calbay Development has purchased the fee interest in a freestanding retail building along Valley Boulevard in Alhambra, about 9 miles from Los Angeles. Office Depot formerly occupied the 26,000-square-foot property, which offers 98 parking stalls and prominent visibility and signage on Valley Boulevard. Calbay acquired the property as a value-add opportunity and is in late-stage negotiations with a national retailer to lease the entire space. Bill Asher and Jeff Lefko of Hanley Investment Group brokered the transaction.

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Escarpment Village
Investment salesNewsTexas

InvenTrust Properties Corp. Acquires Two Retail Properties in Austin for $189.3 Million

by Julia Sanders

Austin, Texas — InvenTrust Properties Corp. has acquired two shopping centers in Austin for $189.3 million. The sale includes The Shops at Arbor Trails, a 357,000-square-foot center anchored by Costco Wholesale and Whole Foods Market; and Escarpment Village, a 168,000-square-foot shopping center anchored by H-E-B. The Shops at Arbor Trails was 99 percent leased at the time of sale, while Escarpment Village was fully leased.

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The Convoy
CaliforniaFinanceNews

JLL Capital Markets Arranges $11.7 Million Loan for Retail Center in Metro San Diego

by Julia Sanders

Kearny Mesa, Calif. — JLL Capital Markets has arranged an $11.7 million refinancing for The Convoy, a 51,623-square-foot neighborhood strip retail center in Kearny Mesa, about 9 miles north of San Diego. Chris Collins and Daniel Pinkus of JLL secured the seven-year, fixed-rate loan through a regional credit union on behalf of the borrower, CEG Capital Partners. Proceeds will be used to refinance the existing bridge loan used to acquire the property in 2017. Originally constructed in 1973, the single-story property is fully leased to tenants including Bank of Hope, …

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FloridaInvestment salesNews

TSCG Arranges $10.5 Million Sale of Grocery-Anchored Center in Central Florida

by Julia Sanders

Homosassa, Fla. — TSCG has arranged the $10.5 million sale of Springs Plaza, a Publix-anchored center in Homosassa. Anthony Blanco of TSCG represented an affiliate of E.J. Plesko & Associates in the sale of the property to an affiliate of the RG Property Group. Completed in 1986 and renovated in 1995, Spring Plaza totals 96,647 square feet. The property was 96 percent leased at the time of sale to tenants including Aaron’s Rents, T-Mobile and Quick Care Medical Clinic. The center is situated at the intersection of US Highway 98 …

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Investment salesMichiganNews

KJ Commercial Brokers $10.5 Million Sale of Retail Center in Metro Detroit

by Julia Sanders

Dearborn, Mich. — KJ Commercial has brokered the $10.5 million sale of a 52,000-square-foot retail center in Dearborn, about 9 miles from Detroit. Rite Aid and Goodwill anchor the fully leased property. Kevin Jappaya and David Jappaya of KJ Commercial represented the seller, the center’s original developer, as well as the buyer, a local real estate investor.

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Investment salesNewsSouth Carolina

NAI Charleston Arranges $6.1 Million Sale of Walgreens-Occupied Portfolio Across South Carolina

by Julia Sanders

Charleston, S.C. — NAI Charleston has arranged the $6.1 million sale of a portfolio of four Walgreens-occupied properties in Beaufort, Bamberg, Chapin and Williston. Jack Owens and Will Sherrod of NAI Charleston represented the seller, C3 Investments Inc. Eric Wasserman of Acropolis Commercial Advisors LLC represented the buyer, Covestre Capital LLC, in the transaction. Further details on the properties were not disclosed.

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