Ceres, Calif. — Yosemite Properties has completed sale of Whitmore Plaza, a shopping center located at 2517-2617 Mitchell Road and 2908-2920 E. Whitmore Ave. in Ceres. Save Mart Portfolio Owner NLP CA LLC acquired the center from Yosemite Properties for $18.4 million. Save Mart grocery store and Planet Fitness anchor the 115,396-square-foot property. Greg Aguirre of Capital Rivers Commercial and Jeff Lefko of Hanley Investment Group Real Estate Advisors represented the seller in the transaction.
McKinney, Texas — STRIVE has arranged the sale of Virginia Commons, a 13,878-square-foot retail strip center located in the Dallas suburb of McKinney. The property is situated on Virginia Parkway just west of U.S. Route 75. Hudson Lambert of STRIVE represented the seller, a North Texas investor, and cooperated with an outside broker to source the buyer, a local Dallas-area investor.
Lansing, Mich. — Kohan Retail Investment Group has acquired Lansing Mall in Michigan for an undisclosed price. The 706,925-square-foot regional mall is located at 5330 W. Saginaw Highway in Lansing. Tenants include JC Penney, Regal Cinemas, Best Buy, Barnes & Noble, TJ Maxx and Shoe Carnival. CBRE’s National Retail Partners Midwest team represented the seller, Brookfield Properties Group.
Bourbonnais, Ill. — Hanley Investment Group Real Estate Advisors has arranged the $4.4 million sale of a 9,723-square-foot retail pad site at Bradley Commons, a Walmart-anchored shopping center located in Bourbonnais. Jeff Lefko and Bill Asher of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, Midland Atlantic Properties. The buyer was a private investor from Des Moines, Iowa. Located at Bradley Commons at 2070 N. State Route 50, the four-tenant pad building is home to Jersey Mike’s Subs, Midwest Express Clinic, AT&T and uBreakiFix. The 1.29-acre property …
Independence, Mo. — Block & Co. Inc. Realtors investment group, headed by Phil Peck and Marshal Blount, has acquired a former FedEx facility located at 3721 Noland Road in Independence. The 8,385-square-foot building has been repurposed into a four-unit, multi-tenant retail center. Construction of a brand-new parking lot and building facade was also completed in 2020. Peck and Blount leased three of the four available units to Little Caesars, Grassroots Dispensary and Cricket Wireless. Little Caesars is currently open for business and both Grassroots dispensary and Cricket Wireless anticipate opening …
Vista, Calif. — Marcus & Millichap has arranged the sale of two shopping centers in Vista, the Shops at Vista Terrace Marketplace and Santa Fe Crossroads. Ron Duong of Duong Retail Group represented the buyers in both transactions which totaled $18.3 million in value. Rick Puttkammer represented the seller for Santa Fe Crossroads.
Lake Elsinore, Calif. — Faris Lee Investments has arranged the $22.6 million sale of Central Plaza Shopping Center in Lake Elsinore, with the $2.8 million sale of Ulta Beauty as the last piece of the break-up strategy for asset. The seller was HFC/PRP Elsinore LLC. The Faris Lee team arranged the sale of a total of seven different properties within the center to seven different buyers. The transactions include a single-tenant, net-leased Marshalls; a single-tenant, net-leased Panera Bread with a drive-thru; a two-tenant pad site occupied by Pieology and Ono …
Cypress, Santa Ana and Chino Hills, Calif. — Faris Lee Investments has arranged three off-market acquisitions: Meridian Plaza, a multi-tenant retail center anchored by Dollar Tree in Cypress, a Starbucks in Santa Ana and a strip center in Chino Hills. Nick Miller and Shaun Riley of Faris Lee Investments represented a 1031 exchange Orange County-based family office buyer in all three transactions. Meridian Plaza, is a 28,500 square feet property fronting Katella Avenue. The property’s tenants including Starbucks, Dollar Tree, H&R Block and Wienerschnitzel. The buyer acquired the property for …
Columbus, Ga. — The Cotton Cos. is bringing Highside Market, an urban infill and adaptive reuse mixed-use development, to Columbus. The first phase of the development is expected for completion in September, and Cotton Cos. plans to fully open the project by the third quarter of 2022. Located at the intersection of 13th Street and 2nd Avenue, Highside Market will feature four retail, dining, work and gathering spaces. The mixed-use development will also include full-service, dine-in and fast-casual restaurants; 20,000 square feet of retail space; 10,300 square feet of office …
Pinecrest, Fla. — A joint venture between Limestone Asset Management and Orion Real Estate Group has acquired Pinecrest Town Center, a mixed-use retail and office property located 11 miles outside Miami in Pinecrest, for $32 million. Limestone Asset Management will assume an existing mortgage on the property. Pinecrest Town Center features 60,484 square feet of retail space and 33,691 square feet of office space. Tenants at the property include Sage Dental, EWM, Coldwell Banker, Anacapri Italian Restaurant and Sea Siam. The entire site includes 225,255 square feet of land, and …