Carlsbad, Calif. — Tooley Interests LLC has purchased Carlsbad Village Plaza, a grocery-anchored shopping center in Carlsbad. Balboa Retail Partners sold the property for $23.5 million. Located 945-1065 Carlsbad Village Drive, the center features 58,735 square feet of retail space. Smart & Final Extra anchors the property. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.
Lexington, Ky. — SVN | Stone Commercial Real Estate has brokered $5.8 million sale of Todds Center, a 30,418-square-foot shopping center located on Man O’ War Blvd. in Lexington. Matt Stone and Neal Metcalfe of SVN | Stone Commercial Real Estate represented the undisclosed seller in the transaction. Jamie Adams and J.L. Cannady of NAI Isaac represented the undisclosed buyer of the property. SVN Stone Commercial Real Estate has managed and leased the shopping center for the past eight years.
Vero Beach, Fla. — Marcus & Millichap has arranged the $5.3 million sale of Vero Beach Square, an 11,480-square-foot retail strip center in Vero Beach. Drew Kristol, Kirk Olson and Marc Yaffe of Marcus & Millichap represented the seller, Konover South, and the buyer, Ross Realty Investments Inc., in the transaction. The center was 88 percent leased at the time of sale to tenants including Dunkin’ Donuts, Jersey Mike’s Subs, Tropical Smoothie Cafe and Supercuts. The property is shadow-anchored by Tire Kingdom and Murphy’s Gas.
Columbus, Ga. — Mag Mile Capital has secured $3 million in acquisition financing for a triple-net-leased retail property located at 3498 Victory Drive in Columbus. The 3,648-square-foot retail property is fully leased to Caliber Car Wash. Paula Mello and Matt Weilgus of Mag Mile Capital arranged the 10-year, fixed-rate loan through an undisclosed regional credit union on behalf of the borrower, Freeport Equity. The loan features a 25-year amortization schedule.
Boardman, Ohio — First National Realty Partners has acquired Southland Crossings, a 245,678-square-foot grocery-anchored shopping center located at 1150-1300 Doral Drive in the Youngstown suburb of Boardman. Southland Crossings was 91 percent occupied at the time of sale by tenants including a 77,592-square-foot Giant Eagle Supermarket, Ross Dress for Less, PetSmart, DSW and Michaels.
Frisco, Texas — JLL has arranged the sale of South Frisco Village, a 227,041-square-foot retail center in Frisco, about 28 miles north of Dallas. Ryan Shore, Chris Gerard, Barry Brown and Jack Copher of JLL represented the seller, InvenTrust Properties Corp. Vista Property Co. acquired the property for an undisclosed price. Built in 2001, South Frisco Village has 28 retail suites. The property was 92 percent occupied at the time of sale by tenants such as Bed Bath & Beyond, Jo-Ann Fabrics, Buy Buy Baby and Painted Tree Marketplace.
Boynton Beach, Fla. — Union Investment has acquired the Fountains of Boynton, a five-building grocery-anchored retail center in Boynton Beach. The acquisition is being made on behalf of open-ended real estate fund Unilmmo: Europa. The seller and sales price were not disclosed. Built in 1994 and modernized in 2017, the Fountains of Boynton include 174,996 square feet and is currently fully leased to tenants such as Publix, LA Fitness Signature Club, restaurants and a range of services providers.
Los Angeles — Matthews Real Estate Investment Services has arranged the sale of Manchester Plaza, a retail property located at 520-536 E. Manchester Ave. in Los Angeles. An undisclosed developer sold the asset to a local investor for $5.5 million, or $647 per square foot. The property offers approximately 8,500 square feet of multi-tenant retail space. Joe Nelson of Matthews handled the transaction.
Aurora, Ill. — Marcus & Millichap has brokered the $5 million sale of a 98,765-square-foot retail center located roughly 41 miles outside Chicago in Aurora. Located at 1901 W. Galena Blvd., the property features a mix of retail and medical tenants. Rush-Copley Medical Center, which specializes in family medicine, imaging and obstetrics and gynecology, anchors the center. There are 23,751 square feet available for lease. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local fund manager. The duo also secured the buyer, an Iowa-based limited …
North Wales, Pa. — JLL Capital Markets has arranged the $55 million sale of Montgomery Mall, a 1.1-million-square-foot regional mall at 230 Montgomery Mall in the Philadelphia suburb of North Wales. David Monahan, Jim Galbally, Chris Munley, Cameron Pittman, Colin Behr and Akhil Patel of JLL represented the seller, a CMBS trust. Kohan Retail Investment Group acquired the property. Built in 1977 and last renovated in 2014, Montgomery Mall was 73 percent leased at the time of sale to tenants including Wegman’s, Macy’s, JCPenney, Dick’s Sporting Goods, H&M, Forever 21, …
