Henderson, N.C. — Marcus & Millichap has brokered the $7.2 million sale of a Food Lion-anchored, 182,646-square-foot shopping center located in Henderson. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company. The duo also represented the buyer, a limited liability company.
Houston, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant Burger King with a double-drive-thru in Houston. Brad Dessy and Matt Burnett of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, a private investor based in Spring, Texas. Jeff Lefko of Hanley Investment Group represented the buyer, a private investor based in New Hampshire. The property was completely rebuilt in 2015 to convert an existing building into Burger King’s latest double-drive-thru prototype. The 3,000-square-foot building is situated on 1.02 acres at …
Studio City, Calif. — Midwood Investment & Development is nearing completion of The Shops at Sportsmen’s Lodge, a $100 million retail redevelopment of land formerly occupied by a meeting and convention center in Studio City. A rolling opening for the 95,000-square-foot property is scheduled to begin this summer. The Shops at Sportsmen’s Lodge will be anchored by Erewhon, a Los Angeles-based market and café known for its selection of organic, healthy foods. Other tenants will include Civil Coffee, Free People Movement, Madison Reed, Myodetox, Roberta’s Pizza, SALT Optics, Tocaya, Tuesday’s …
Gulf Breeze, Fla. — JLL Capital Markets has arranged the $19.9 million sale of Tiger Point Pavilion, a 66,279-square-foot shopping center anchored by Publix in the Pensacola-area community of Gulf Breeze. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, a joint venture between MAB American and DRA Advisors. ExchangeRight was the buyer. Completed in 2018, the 98 percent-leased center is home to tenants including Aspen Dental, AT&T, Dickey’s Barbeque, Great Clips and Select Physical Therapy. With an attached drive-thru pharmacy, Publix Supermarkets and the adjacent liquor …
Los Angeles — Faris Lee Investments has arranged the sale of a freestanding retail building located at 1824 Hillhurst Ave. in the Los Feliz neighborhood of Los Angeles. The asset sold for $2.9 million. The names of the seller and buyer were not released. Situated at the intersection of Hillhurst and Russell avenues, the property features a private parking lot and patio space. Tyler Strauss and Jeff Conover of Faris Lee Investments represented the seller in the deal. The property was formerly occupied by Ample Hills Creamery, which closed its …
Atlanta — JLL Capital Markets has arranged the $50 million sale of a 63,831-square-foot store in Atlanta’s Buckhead district leased on a long-term basis to Restoration Hardware. Jim Hamilton, Coler Yoakam, Brad Buchanan and Andrew Kahn of JLL represented the seller, a partnership between an affiliate of LaSalle’s Income & Growth value-add fund series, Ferncroft Capital, Redan Group and Blackmount Real Estate Partners. Restoration Hardware has occupied the five-story building since it was constructed in 2014. The property is located on 1.6 acres at 3030 Peachtree Road across the street …
Florissant, MO. — First National Realty Partners has acquired The Shoppes at Cross Keys in Florissant, a northern suburb of St. Louis. The 339,464-square-foot shopping center is 93 percent occupied and features a 63,094-square-foot Schnucks and a 98,133-square-foot Home Depot. The seller and sales price were undisclosed.
Worthington, Ohio — Direct Retail Partners has received the final zoning approval to begin construction on Phase I of the redevelopment of the Shops at Worthington Place in Worthington, a northern suburb of Columbus. The project, known as High North, will transform the shopping mall into a mixed-use development, anchored by a 125,000-square-foot Class A office building. Five floors of office space will sit atop four levels of structured parking. The first floor will be surrounded by a WiFi-enabled public courtyard. Dining and grocery options like Panera Bread, First Watch, …
Lake Worth, Fla. — Continental Realty Corp. (CRC) has acquired The Shoppes at Sherbrooke, a 57,901-square-foot, LA Fitness-anchored shopping center located 15 miles from downtown West Palm Beach in Lake Worth. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the undisclosed seller in the $11.3 million deal. The Shoppes at Sherbrooke was purchased via Continental Realty Fund V LP, a $210.8 million private equity fund focused on acquiring value-add retail and multifamily properties in the Mid-Atlantic and Southeast regions. The eight-acre site includes a nearly one-acre …
Dayton, Ohio — Cooper Commercial Investment Group has arranged the sale of Sugarcreek Plaza, a 70,000-square-foot retail center located at 6140-6148 Wilmington Pike in Dayton. The center is fully leased to tenants including buybuyBABY, Bed Bath & Beyond, Planet Fitness and Affordable Uniforms. Dan Cooper of Cooper Commercial represented the seller, Boca Raton, Florida-based PEBB, in the disposition of the property to Pinnacle Leasing & Management for $7.5 million.
