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, …
Tulsa, Okla. — Stan Johnson Co., a retail brokerage firm based in Tulsa, has arranged the sale of three national single-tenant portfolios for $75.5 million. The portfolios consist of 40 properties across seven states that are leased to tenants such as Tractor Supply Co., Dollar General and Advance Auto Parts, among others. Ryan Butler of Stan Johnson Co. represented the undisclosed seller in the off-market transactions. The buyers were also not disclosed.
Petaluma, Calif. — Paragon Commercial Group and Canyon Partners Real Estate have purchased Washington Square, a grocery-anchored shopping center located in the Sonoma County community of Petaluma for an undisclosed price. Situated on the corner of South McDowell Boulevard and East Washington Street, Washington Square features 215,761 square feet of retail space. Current tenants include Bank of America, Wells Fargo, WestAmerica Bank, Planet Fitness, Party City and Pet Food Express.
Easton, Mass. — Atlantic Capital Partners has arranged the sale of Highland Plaza, a 112,869-square-foot shopping center in Easton, located about 30 miles south of Boston. Regional grocer Big Y anchors the property, which was 96 percent leased at the time of sale, with a 56,519-square-foot store. Other tenants include T.J. Maxx and Liberty Mutual. Justin Smith, Chris Peterson, Sam Koonce, Molly Lynch and Ben Starr of Atlantic Capital Partners represented the seller, Phillips Edison & Co., in the deal. The team also procured the undisclosed buyer.
Austin, Texas — Whitestone REIT has acquired 89,746 square feet of inline retail space at Anderson Arbor in northwest Austin. The retail space was built in three phases beginning in 2003 and is part of a larger 268,000-square-foot development. The inline space acquired by Whitestone was 91 percent leased at the time of sale to tenants such as Bank of America, Kerbey Lane Café, Austin Emergency Center, SalonRepublic, Great Clips, GNC, The Melting Pot and Double Dave’s Pizzaworks. Whitestone also has the option to purchase an additional undeveloped parcel and …
Vista, Calif. — Black Lion Investment Group has completed the sale of the fifth and final parcel of Vista Terrace Marketplace, a retail property in Vista. Crow Holdings acquired the two-acre parcel, which features 28,440 square feet of retail space, for $13.3 million. Vista Terrace Marketplace is currently 90 percent occupied by tenants including Jersey Mike’s Subs, Pacific Dental, Sports Clips and Discovery Preschool. Gleb Lvovich and Daniel Tyner of JLL’s Capital Markets team handled the transaction.
Dawsonville, Ga. — Stan Johnson Co. has arranged the sale of Dawson Forest Shopping Center, a 10,100-square-foot shopping center located at 802 Georgia Highway 400 South in Dawsonville. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the private, Atlanta-based buyer in the acquisition of the property from an undisclosed seller for $1.7 million. Built in 1998 and renovated in 2018, the center was 72 percent occupied at the time of sale.
Boston — Wayfair will open three brick-and-mortar stores in the Boston area in 2022. The first two stores will be located within open-air centers owned by WS Development in Lynnfield and Dedham, and will carry the company’s AllModern brands. The third store will be located within Simon Property Group’s Burlington Mall and will carry the company’s Joss & Main brand. Wayfair plans to open more stores to support other brands over the next two years.