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Sugar Park Plaza
FinanceInvestment salesNewsTexas

JLL Arranges Sale, Financing for 95,032-Square-Foot Sugar Park Plaza in Houston

by Abby Cox

Houston ­— JLL has arranged the sale and financing of Sugar Park Plaza, a 95,032-square-foot neighborhood retail center located in Houston. Renovated in 2016, Sugar Park Plaza features one in-line retail building and three pad sites. Marshalls anchors the center, which was fully leased at the time of sale, and includes a mix of 15 other tenants including Aga’s Restaurant & Catering, Skechers, Chase Bank, ExxonMobil and Magnum Staffing. Sugar Park Plaza was built in 1974 on nearly 30 acres. John Indelli and Ryan West of JLL represented the seller …

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The Village at Park Bridge
GeorgiaInvestment salesNews

TSCG Negotiates Sale of The Village at Park Bridge in Metro Atlanta for $12.9 Million

by Abby Cox

Alpharetta, Ga. — Locally based TSCG has negotiated the $12.9 million sale of The Village at Park Bridge, a 28,701-square-foot strip center located in Alpharetta, roughly 26 miles north of Atlanta. Tenants at the center, which was 96 percent leased at the time of sale, include Starbucks, Jimmy John’s, Crumbl Cookies, Pepperoni’s Tavern, Kin No Tori Ramen Bar and Koi Kaiten Sushi. Originally built 2003, The Village at Park Bridge previously sold for $9.7 million in 2006. Anthony Blanco of TSCG represented the seller, Birmingham, Alabama-based Fairway Investments, in the …

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Tractor Supply
FloridaInvestment salesNews

CrownPoint Partners Brokers $11.5 Million Sale of Single-Tenant Retail Property in Southwest Florida

by Abby Cox

Naples, Fla. — CrownPoint Partners has brokered the $11.5 million sale of a single-tenant retail property located within the Golden Gate Estates community in Naples. Tractor Supply Co. occupies the 23,279-square-foot building on a 15-year corporate guaranteed lease as a new prototype store layout, which includes an outdoor garden area, feed center and fenced-in display space.   Shannon Bona and Julius Swolsky of CrownPoint Partners represented the seller, a Southeast-based developer, in the transaction. David Weinberg of Marcus & Millichap represented the buyer, a Midwest-based private 1031 exchange investor.

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Company newsNew YorkNews

RD Management Consolidates to Launch RD Property, Closes $350 Million Credit Facility

by Abby Cox

New York City — RD Management LLC has announced the formation of its new entity, RD Property LLC. RD Property comprises 50 real estate properties that span approximately 4 million square feet and features shopping centers, self-storage facilities, hotels and net lease properties across the U.S. The consolidation of RD Management is meant to streamline operations, enhance growth prospects and strengthen capital resources. Additionally with its formation, RD Property has closed on a $350 million loan and revolving credit facility that will provide the company with financial flexibility and liquidity to …

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Rimowa storefront
FloridaInvestment salesNews

River Oaks Acquires 5,875-Square-Foot Retail Property in Miami for $27 Million

by Abby Cox

Miami ­— El Paso, Texas-based River Oaks Properties (ROP) has acquired a 5,875-square-foot retail property located at 111-115 NE 40th St. in Miami’s Design District for $27 million. Luxury luggage manufacturer Rimowa and footwear brand Birkenstock fully occupy the property on long-term, triple-net leases. Pegasus Investments Real Estate Advisory represented the buyer in the transaction. Jordan Gimelstein of Inhouse Commercial represented the seller, an affiliate of Harbor Group International. Akerman LLP’s Miami office served as legal advisor to ROP. Miami’s Design District features a mix of high-end retailers including Louis Vuitton, …

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Central Texas Marketplace
Investment salesNewsPower centersTexas

JLL Negotiates Partial Sale of Central Texas Marketplace in Waco, Texas

by Abby Cox

Waco, Texas — JLL Capital Markets has negotiated the sale of a portion of Central Texas Marketplace, a 526,000-square-foot power center located in Waco. A James Nix entity doing business as G3C Operating LLC purchased a 181,708-square-foot component of the center, which features Sprouts Farmers Market, Best Buy, Office Depot and Burlington. Adam Howells, Barry Brown, Erin Lazarus and Brennan Fewin of JLL’s Investment Sales and Advisory team represented the seller, Ball Ventures, in the transaction. Built between 2005 and 2015, Central Texas Marketplace is anchored by Cabela’s. Other tenants …

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Starbucks Cafe
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $3.7 Million Sale of Retail Property in Santa Barbara, California

by Abby Cox

Santa Barbara, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a single-tenant retail property located at 402 N. Milpas St. in Santa Barbara. Starbucks Coffee occupies the 2,149-square-foot building, which opened in April, and features the company’s new café-only prototype design. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, a Los Angeles-based developer, while the buyer, a San Francisco-based 1031 exchange investor, represented itself.

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57990 29 Palms Highway
CaliforniaInvestment salesNews

Progressive Real Estate Brokers $1.9 Million Sale of Retail Property in Southern California

by Abby Cox

Yucca Valley, Calif. — Progressive Real Estate Partners has brokered the $1.9 million sale of a multi-tenant retail building located at 57990 29 Palms Highway in Yucca Valley. The 13,593-square-foot property was fully leased to three tenants at the time of sale including Crazy Bargains, Luxury Nail Spa and No Limits Boutique. The building is situated within a Stater Bros.-anchored retail center, which features a mix of other tenants such as Dollar Tree, Tractor Supply Co. and Harbor Freight. Lance Mordachini of Progressive represented the seller, a Los Angeles County-based private …

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Baron Shoppes
FloridaInvestment salesNews

CenterSquare Acquires Baron Shoppes in Stuart, Florida

by Abby Cox

Stuart, Fla. — Conshohocken, Pennsylvania-based CenterSquare has acquired Baron Shoppes, a 16,316-square-foot service retail center located in Stuart, approximately 40 miles north of West Palm Beach. Tenants at the center, which was fully leased at the time of sale, include Carmela Coffee, Firehouse Subs and Jupiter Medical. Baron Shoppes was originally built in 2018 on nearly 7 acres, according to LoopNet Inc. This transaction marks CenterSquare’s 8th acquisition in Florida.

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Edgewater Towne Center
Grocery-anchoredInvestment salesMixed-useNew JerseyNews

JLL Arranges $53.5 Million Sale of Edgewater Towne Center in Metro New York City

by Abby Cox

Edgewater, N.J. — JLL has arranged the $53.5 million sale of Edgewater Towne Center, a mixed-use development located in Edgewater, roughly eight miles from New York City. The property comprises 76,414 square feet of retail space and 64 apartment units. The retail portion of Edgewater Towne Center was 98 percent leased at the time of sale and features a mix of tenants including Club Pilates, Amazon One Medical, Bond Vet and Pure Barre. Whole Foods Market anchors the property. Meanwhile, the residential component of the building was 94 percent occupied. …

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