Highlands Ranch, Colo. — Marcus & Millichap has arranged the sale of Highlands Ranch Marketplace, a neighborhood retail center in Highlands Ranch. Sidford Capital acquired the asset for $6.1 million. Located at 9385 S. Colorado Blvd., Highland Ranch Marketplace was fully leased to 10 tenants at the time of sale. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, a Colorado-based private investor, and procured the buyer in the transaction.
Baltimore — Klein Enterprises has purchased a portfolio of nine grocery-anchored shopping centers in the Mid-Atlantic. The portfolio spans 800,000 square feet of retail space and was 80 percent leased at the time of sale. Cedar Realty Trust sold the portfolio for an undisclosed price in conjunction with the broader asset acquisition of Cedar’s grocery-anchored portfolio by a joint venture between DRA Advisors and KPR. United Bank provided an undisclosed amount of debt financing for the acquisition. As part of the transaction, Klein is acquiring seven stabilized shopping centers and …
Miami — Helm Equities has announced plans for Parterre 42, a $300 million office tower that will occupy a full city block between NE 42nd and 43rd streets in Miami’s Design District. The 500,000-square-foot development will offer 80,000 square feet of functional outdoor space dispersed across each floor of the building with communal work tables, outdoor power and charging stations, and flexible furniture groupings. COOKFOX Architects designed the project. Additional amenities at the property, which features unobstructed views of Biscayne Bay and the downtown Miami skyline, will include an indoor-outdoor …
Houston — JLL Capital Markets has arranged the sale of Market Square at Eldridge, a 262,556-square-foot regional power center in Houston. Chris Gerard, Erin Lazarus, Ryan West and Megan Babovec of JLL represented the seller, Walton Street Capital, in the disposition of the property to Wu Properties. The center was 98 percent leased at the time of sale to tenants including Burlington, Michaels, Party City, PetSmart, Dollar Tree, HomeGoods, T.J. Maxx, Bath & Body Works, Ulta Beauty, Cato, Old Navy and Office Depot.
Tuscaloosa, Ala. — GBT Realty has sold McFarland Plaza, a 188,406-square-foot shopping center located at 2600 McFarland Blvd. in Tuscaloosa. Cincinnati-based Select Strategies Realty purchased the property from the Brentwood, Tennessee-based owner for an undisclosed price. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented GBT Realty in the transaction. Situated one mile from the University of Alabama, McFarland Plaza’s tenant roster includes HomeGoods, T.J. Maxx, Ross Dress for Less, Michaels, Dollar General, CosmoProf, Shoe Carnival, Slim Chickens, Party Wow, MS Cos. and Jersey Mike’s.
La Quinta, Calif. — SRS Real Estate Partners has brokered the sale of a 154,383-square-foot portion of One Eleven La Quinta Center, a community retail center located at 78959 CA-11 in La Quinta. A Coachella Valley-based private family office sold the asset to Milan Capital Management for $35 million. Chris Tramontano and John Redfield of SRS’ Investment Properties Group represented the seller, while the buyer was self-represented in the deal. Terrison Quinn and Casey Mahony of SRS Real Estate Partners are leasing agents for the property. Tenants at the time …
Atlanta — CTO Realty Growth has purchased Madison Yards, a new retail development in Atlanta’s Inman Park district. The developer, Fuqua Development, sold the 162,500-square-foot project to CTO Realty Growth for $80.2 million. Located at 905 Memorial Drive along the Atlanta Beltline’s Eastside Trail, Madison Yards was 98 percent leased at the time of sale to tenants including anchors Publix and AMC Theatres. Other tenants include AT&T, First Watch and Orangetheory Fitness. Fuqua delivered the property in 2019, as well as an attached apartment community that was not part of …
Knoxville, Tenn. — Four Stones Real Estate has begun construction on Phase II of Kern’s Bakery, a 16-acre mixed-use redevelopment of a former bakery of the same name in Knoxville. The second phase will redevelop a historic 75,000-square-foot building into a food hall, market, offices, rooftop bars and outdoor gathering spaces. Tenants announced include Flourish Flowers, Archer Paper Goods, F45, Mae Lee’s Boutique and Drop Zone Distilling, as well as an 18-merchant food hall that will include coffee, Italian, Southern and breakfast purveyors, among others. The second phase will also …
Birmingham, Ala. — First National Realty Partners has purchased Brook Highland Plaza, a 549,500-square-foot shopping center located in Birmingham. The seller and sales price were not disclosed, but the Birmingham Business Journal reports the property traded for $77 million. The transaction marks the Red Bank, New Jersey-based investor’s second grocery-anchored center acquisition in Alabama. Brad Buchanan and Jim Hamilton of JLL’s Atlanta office represented the seller in the transaction. A 127,000-square-foot Lowe’s Home Improvement store and a 23,400-square-foot Sprouts Farmers Market anchor Brook Highland Plaza. Other tenants include Burlington, Best Buy, …
Stuart, Fla. — RK Centers has purchased Pineapple Commons, a 256,000-square-foot open-air shopping center located at 2502 N.W. Federal Highway in Stuart, a coastal city about 40 miles north of West Palm Beach. Kimco Realty sold the property to RK Centers for $48.5 million. Dennis Carson of CBRE represented Kimco in the transaction. Built in 2005, Pineapple Commons’ tenant roster includes City Furniture, Ashley Furniture, Best Buy, Ross Dress for Less, Ulta Beauty, PetSmart, Marshalls, Shoe Carnival, Starbucks Coffee, Chipotle Mexican Grill and 15 other dining, service and specialty retail …
