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Marina Center
CaliforniaInvestment salesNews

Longtime Owner Sells Marina Center in Long Beach, California for $16.2 Million

by Julia Sanders

Long Beach, Calif. — Tourmaline Capital has purchased Marina Center, a retail strip center located at 6200-6252 Pacific Coast Highway in Long Beach. A private investor who owned the asset for more than 23 years sold the property for $16.2 million. The 32,757-square-foot center was 84 percent leased at the time of sale to tenants including Ortho Mattress, Belmont Shore Veterinary Hospital, Subway, Image Rx, Audio Concepts, Lavender Nails, Golden State Tanning, Honey’s Cleaners, Enrique’s Mexican Restaurant and First Bank. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets …

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Navy Pier
DevelopmentIllinoisNews

Illuminarium Experiences to Open 32,000-Square-Foot Venue at Chicago’s Navy Pier

by Julia Sanders

Chicago — Illuminarium Experiences, an experiential entertainment company, has unveiled plans to open an Illuminarium at Chicago’s Navy Pier. The 32,000-square-foot entertainment venue, which combines projections and soundscapes to create virtual reality-like exhibits, will be situated inside the former Crystal Gardens venue. This is the fourth Illuminarium location announced in the U.S., following Atlanta, Miami and Las Vegas. The company plans to add dozens of its immersive experience venues in major cities across the globe over the next five years. In Chicago, architecture firms Rockwell Group and Perkins & Will …

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Northside Plaza
AlabamaInvestment salesNews

JLL Arranges Sale of 200,800-Square-Foot Northside Plaza in Dothan, Alabama

by Julia Sanders

Dothan, Ala. — JLL has arranged the sale of Northside Plaza, 200,800-square-foot retail center in the southeastern Alabama community of Dothan. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the undisclosed seller in the transaction. An entity affiliated with Hackney Real Estate Partners acquired the property for an undisclosed price. The center was 99 percent leased at the time of sale to tenants including Publix, Hobby Lobby, Action Air Jump & Sports, 2nd and Charles, AMC Theaters, Panera Bread, Advantage Human Resourcing and Nail Boutique and Spa. Completed …

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Holland Point
GeorgiaInvestment salesNews

Hanley Negotiates $20.1 Million Sale of Publix-Anchored Shopping Center in Metro Atlanta

by Julia Sanders

Buford, Ga. — Hanley Investment Group has arranged the sale of Holland Point, a 68,187-square-foot, Publix-anchored neighborhood shopping center in the Atlanta suburb of Buford. Ed Hanley and Kevin Fryman of Hanley Investment Group, along with ParaSell Inc., represented the 1031 exchange buyer, a private investor based in Norco, California. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Watkins Real Estate Group, which sold the property for $20.1 million. Holland Point was built in 2020 on a 16-acre site at 4108 Hamilton Mill Road. The center …

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Shannon Crossing
GeorgiaInvestment salesNews

SRS Arranges $19.4 Million Sale of Kroger-Anchored Shopping Center in Metro Atlanta

by Julia Sanders

Union City, Ga. — SRS Real Estate Partners has arranged the sale of Shannon Crossing, a 101,174-square-foot, Kroger-anchored shopping center located in Union City, about 17 miles south of downtown Atlanta. Forge Real Estate Partners III LP, a joint venture between Forge Capital Partners and The Sembler Co., sold the property for $19.4 million to an Atlanta-based entity doing business as Flesh and Soul Enterprises LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller and the buyer was self-represented in the transaction. Located at 4550 Jonesboro Road, the …

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Warren Plaza
Investment salesIowaNews

JLL Brokers Sale of 91,588-Square-Foot Grocery-Anchored Shopping Center in Dubuque, Iowa

by Julia Sanders

Dubuque, Iowa — JLL Capital Markets has arranged the sale of Warren Plaza in Dubuque for an undisclosed price. Anchored by Hy-Vee, the shopping center spans 91,588 square feet. Other tenants at the property include UPS, SuperCuts, Jersey Mike’s, Miracle Ear, Grand River Medical Group and OneMain Financial. Clinton Mitchell, Amy Sands, Michael Nieder, Kirstey Lein and Marcus Pitts of JLL represented the seller, The DESCO Group, in the disposition of the property to a Midwest-based private investment fund.

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retail center
CaliforniaInvestment salesNews

Pinnacle Real Estate Negotiates $14.8 Million Sale of Retail Center in Metro Los Angeles

by Julia Sanders

Cerritos, Calif. — Pinnacle Real Estate Advisors has brokered the $14.8 million sale of a retail center located at 12221-17312 Norwalk Blvd. in Cerritos, roughly 19 miles south of downtown Los Angeles. The names of the seller and buyer were not disclosed. The 52,382-square-foot property is anchored by a grocery store. Peter Sengelmann, Eric Diesch and Jackson Coon of Pinnacle Real Estate Advisors represented the seller in the deal.

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Buckner Plaza
Investment salesNewsVirginia

Colliers Arranges Sale of Buckner Plaza in Virginia Beach for $6.4 Million

by Julia Sanders

Virginia Beach, Va. — Colliers has arranged the $6.4 million sale of Buckner Plaza, a 63,500-square-foot shopping center located at 3208 Holland Road in Virginia Beach. Jeffrey Fritz and Jay O’Donnell of Colliers represented the seller, Club Forest Buckner LLC, and Michael Ettel of Colliers represented the buyer, VB-GC-RA 18 LLC. Buckner Plaza is located on a 5.5-acre parcel along Holland Road. The property was 95.4 percent leased at the time of sale to tenants including Food Lion and Dollar General.

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McDonalds
Investment salesLouisianaNews

SRS Brokers $2.6 Million Sale of McDonald’s-Occupied Retail Property in Prairieville, Louisiana

by Julia Sanders

Prairieville, La. — SRS Real Estate Partners has arranged the $2.6 million ground-lease sale of a McDonald’s-occupied, 4,268-square-foot retail property located at 15022 Airline Highway in Prairieville, about 22 miles south of Baton Rouge. Newly built, the property includes a drive-thru and is situated on 1.4 acres near Interstate 10. The McDonald’s is slated to open by late September. Matthew Mousavi, Patrick Luther and Sabrina Kortlandt of SRS represented the seller, a Baton Rouge-based private investor who has owned the land for more than 60 years. Jeff Li of Colliers …

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Starbucks Coffee
GeorgiaInvestment salesNews

Palomar Group Brokers $2.3 Million Sale of Starbucks-Occupied Property in Suburban Augusta

by Julia Sanders

Evans, Ga. — The Palomar Group has brokered the $2.3 million sale of a Starbucks Coffee-occupied retail property located at 3104 William Few Parkway in the Augusta suburb of Evans. The buyer was an investor based in Aiken, South Carolina, and the seller was an investor based in Augusta, Georgia. The Palomar Group was the only broker involved in the transaction. Built in 2021, the retail property spans 2,500 square feet. Starbucks Coffee has a 10-year lease and no termination clause at the property. The store is an outparcel of …

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