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CVS
CaliforniaInvestment salesNews

SRS’ National Net Lease Group Arranges Sale of 13 CVS-Occupied Properties Totaling $90 Million

by Julia Sanders

Newport Beach, Calif. — SRS Real Estate Partners’ National Net Lease Group has arranged the sale of 13 CVS/pharmacy-occupied properties for a total of $90 million. The properties — which span a total of 195,000 square feet — are located in Arizona, Texas, Virginia, South Carolina, Idaho, Louisiana, Oklahoma, Ohio and New Jersey. John Redfield, Matthew Mousavi, Patrick Luther and Tom Power of Newport Beach, California-based SRS represented the seller, a private developer. The undisclosed buyers were individual private investors.

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Investment salesNevadaNews

Sahara Development Divests of Shopping Center in Las Vegas for $57 Million

by Julia Sanders

Las Vegas — Sahara Development has completed the disposition of The Gateway on The Strip, a 37,499-square-foot retail center located on the Las Vegas Strip. KB Gateway on the Strip LLC acquired the property for $57 million. Constructed in 2015 at 2427 S. Las Vegas Blvd., Walgreens anchors the property with a long-term lease through 2040. At the time of sale, the property was 42 percent occupied. The center features a freestanding parking garage, additional income via electronic billboard contracts, an upper-deck patio and an unrestricted gaming license. Chris Clifford, …

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Felch
Investment salesMichiganNews

JLL Capital Markets Arranges Sale of 166,100-Square-Foot Retail Center in Metro Grand Rapids

by Julia Sanders

Holland, Mich. — JLL Capital Markets has arranged the sale of Felch Street Shopping Center, a 166,100-square-foot retail center in Holland, about 29 miles from Grand Rapids. Amy Sands, Clinton Mitchell, Michael Nieder and Matthew Schoenfeldt of JLL represented the undisclosed seller. A private fund based in the Southeast purchased the property. Located at 12635 Felch St., the property was fully leased at the time of sale to tenants including Barnes & Noble, Bed Bath and Beyond, Jo-Ann Fabrics, Old Navy, Jonathan Stevens Mattress, Party City, PetSmart, Shoe Carnival, T.J.Maxx …

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Sandy Springs Gateway
GeorgiaInvestment salesNews

Connolly, Coro Realty Purchase Sprouts-Anchored Shopping Center in Metro Atlanta for $40.5 Million

by Julia Sanders

Sandy Springs, Ga. — Connolly, in a joint venture with Coro Realty Advisors, has purchased Sandy Springs Gateway, a 121,370-square-foot shopping center in Sandy Springs, about 16 miles from downtown Atlanta. Core Property Capital sold the property for $40.5 million. Anchored by Sprouts Farmers Market, the center was 82 percent leased at the time of sale to tenants including Snooze A.M. Eatery, Taka Sushi and Passion, Big B’s Fish Joint, Tupelo Honey Café, Blast fitness studio, Corks & Caps, The Whole Dog Market, Chipotle, Kale Me Crazy, Buttermilk Sky Pie …

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Eastside Village
FloridaInvestment salesNews

Marcus & Millichap Brokers $9.2 Million Sale of Grocery-Anchored Shopping Center in Metro Tampa

by Julia Sanders

Lakeland, Fla. — Marcus & Millichap has brokered the $9.2 million sale of Eastside Village, a 76,264-square-foot retail property located in Lakeland, about 35 miles from Tampa. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller, CF Properties. The undisclosed buyer was a Miami-based private investor. Eastside Village is anchored by Harvey’s Supermarket. The property was fully occupied at the time of sale by tenants including Subway and Dollar Tree.

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Sunrise Plaza
FloridaInvestment salesNews

JLL Capital Markets Arranges $9.2 Million Sale of Sunrise Plaza in Metro Tampa

by Julia Sanders

Brooksville, Fla. — JLL Capital Markets has arranged the $9.2 million sale of Sunrise Plaza, an 86,815-square-foot shopping center anchored by a Winn-Dixie in Brooksville, about 50 miles from Tampa. Brad Peterson and Whitaker Leonhardt of JLL represented the seller, ProVest Properties LLC. An affiliate of Island Associates Real Estate acquired the property. Constructed in 1991 and most recently renovated in 2021, the 90 percent-leased center features tenants, including Anytime Fitness, Winn-Dixie Liquor, Beef ‘O’ Brady’s, Access Care Health Physicians and River Ridge Animal Clinic.

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Promenade Plaza
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $7 Million Sale of Promenade Shopping Plaza in South Georgia

by Julia Sanders

Valdosta, Ga. — Marcus & Millichap has brokered the $7 million sale of Promenade Plaza, a 64,523-square-foot shopping center located in Valdosta. James Medefind, John Brigel, James Garner and Jim Shiebler of Marcus & Millichap represented the seller, an undisclosed limited liability company. Medefind also represented the undisclosed buyer in the transaction. Promenade Plaza was fully occupied at the time of sale by tenants including Shoe Carnival, Books-A-Million, Best Buy, Five Guys and Sleep Number.

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The Crossing at Windy Hill
GeorgiaInvestment salesNews

SRS Group Brokers Sale of 32,000-Square-Foot Shopping Center in Metro Atlanta

by Julia Sanders

Marietta, Ga. — SRS’ Investment Properties Group has brokered the $6 million sale of The Crossing at Windy Hill, a 32,000-square-foot retail center in Marietta. The property was occupied by tenants including FedEx Office at the time of sale. Kyle Stonis, Pierce Mayson and Boris Shilkrot of SRS represented the seller, Walco Investments LP, in the transaction. Billy Benedict of Stan Johnson Co. represented the buyer, Kenny Properties LLC.

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LeasingNewsTexas

Northern Tool to Open 31,000-Square-Foot Store at Woodforest Shopping Center in Houston

by Julia Sanders

Houston — Northern Tool + Equipment has signed a lease to open a 31,000-square-foot store at Woodforest Shopping Center in East Houston. Shawn Ackerman and Jason Du of Henry S. Miller Brokerage represented the undisclosed landlord in the lease negotiations. Clay Mote of Retail Union and Jason Baker with Baker Katz represented Northern Tool.

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Grove Central
FloridaLeasingNews

Sprouts Farmers Market to Open Location in Miami’s Grove Central Development

by Julia Sanders

Miami — Sprouts Farmers Market is set to open a 24,014-square-foot location at Grove Center, a mixed-use, transit-oriented development underway in Miami’s Coconut Grove neighborhood. Scheduled for delivery in 2023, Grove Center will include a 23-story residential tower with 402 multifamily, workforce and co-living units; a 1,250-space public parking garage; and 170,000 square feet of retail space. The project is being developed by a joint venture between Terra and Grass River Property. The development team includes Touzet Studio, RSP Architects and Walter Meyer of New York’s Local Office Landscape Architecture. …

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