Monument, Colo. — RealSource Group has arranged the $3.1 million sale of a single-tenant retail building located in Monument. Grease Monkey occupies the 5,309-square-foot building, which was built in 1995 and renovated in 2007. The tenant recently signed a 10-year initial lease. Austin Blodgett and Jonathan Schiffer of RealSource, along with ParaSell Inc., represented the seller, a private investor, in the deal.
Hackensack, N.J. — Three new tenants have signed leases at The Shoppes at Print House, a 23-acre redevelopment project currently underway in Hackensack. Hackensack Meridian Health will occupy 6,076 square feet at the development, and Starbucks Coffee and Blue Foundry Bank will lease 3,000 and 2,151 square feet, respectively. Jersey Mike’s will also open a space at the project. Michael Walters, Jonathan Kristofich and Cameron Silverstein of NAI James E. Hanson represented the developers — The Hampshire Cos., Russo Development and Fourth Edition Inc. — in the lease negotiations.
Virginia Beach, Va. — Divaris Real Estate has acquired The McGarey Group, which specializes in mixed-use retail development, leasing and advisory services. McGarey Group will operate as a division of Divaris moving forward, with its team retaining their current roles. Denver McGarey, who has 40 years of industry experience, leads The McGarey Group, which has been involved in projects totaling 41 million square feet across the U.S., China and Japan. “Denver and his team have ambitious work ethic, unwavering commitment to integrity and an impressive track record of delivering exceptional …
Palmdale, Calif. — SRS Real Estate Partners has arranged the $5.4 million sale of a retail property located in Palmdale. A private investor acquired the 11,788-square-foot property, which was fully to six tenants including Jenny Craig and Verizon Wireless at the time of sale. The property comprises a portion of Palmdale Marketplace, a 450,000-square-foot retail center anchored by Target, Lowe’s Home Improvement and Sprouts Farmers Market. Matthew Mousavi and Patrick Luther of SRS’ national net lease group represented both the buyer and seller in the transaction.
New Britain, Pa. — JLL has brokered the sale of Town Center of New Britain, a 124,262-square-foot shopping center located in the Philadelphia suburb of New Britain. Giant Food anchors the center, which was built in 1990 and renovated in 2002. Tenants at the property, which was 91 percent leased at the time of sale, include Rite Aid, Dollar Tree, Verizon Wireless and AutoZone. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Milbrook Properties acquired the property for an …
Roseville, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a two-tenant retail pad located in Roseville, roughly 20 miles northeast of Sacramento. Chipotle Mexican Grill and Sushi Roku occupy the 4,808-square-foot property, which is situated within Freedom Point Plaza shopping center. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. Scott Pesch of CB Commercial Pacific Partners represented the buyer, a private investor.
Magnolia, Texas — SVN | J. Beard Real Estate has begun leasing Country Forest Plaza, a 9,615-square-foot retail project located in Magnolia, about 45 miles northwest of Houston. Tenant spaces will range in size from 1,300 to 5,715 square feet. Kane Dunbar is serving as general contractor for the project, construction of which began in January and is expected to be completed during the summer.
Los Angeles — Westwood Financial, a retail real estate investment firm, has promoted Lauren Ball and Juyuan Wei to the company’s C-suite. Ball will take on the role of chief operating officer, with Wei appointed chief financial officer. Ball and Wei joined the Los Angeles-based company in 2021 and 2018, respectively, previously serving as senior vice president and head of leasing and senior vice president of finance and accounting. The two will support Chief Executive Officer Mark Bratt. “A good portion of our ongoing success is due to these leaders’ …
Fishers, Ind. — Thompson Thrift has acquired 62 acres that will be utilized as part of the $550 million expansion to Fishers District in the northeast Indianapolis suburb of Fishers. The firm concurrently sold a portion of the acquired land to the City of Fishers, where the site will be used for the development of a 7,500-seat arena and event center. The overall expansion of Fishers District includes: Slate, a garden-style multifamily community with direct access to Fishers District; the Union, an expansion to the multifamily and commercial options already …
Groton, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Groton Square, a 196,802-square-foot shopping center in southeastern Connecticut. Stop & Shop and Kohl’s anchor the center, which sits on 18 acres and was built in phases between 1983 and 1989. Other tenants include Panera Bread, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill. Jim Koury of IPA represented the buyer and seller in the transaction.
