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The Crescent
Investment salesNewsTexas

Crescent Real Estate Re-Acquires 1.3 Million-Square-Foot Namesake Mixed-Use Building in Uptown Dallas

by Julia Sanders

Dallas — Fort Worth-based based investment and development firm Crescent Real Estate LLC has re-acquired The Crescent, a 1.3 million-square-foot mixed-use property in Uptown Dallas. The property was originally built in 1986 and consists of a luxury hotel, three office towers and retail/restaurant space. According to The Dallas Morning News, the sales price was upwards of $700 million. The 11-acre property was part of Crescent Real Estate’s initial public offering in 1994. After a later sale, Crescent Real Estate re-acquired the asset in 2009 in partnership with Barclays. This latest …

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CentrePoint
IdahoInvestment salesNews

Wood Investments Cos. Acquires CentrePoint Marketplace in Meridian, Idaho for $35 Million

by Julia Sanders

Meridian, Idaho — Wood Investment Cos. Inc. has acquired CentrePoint Marketplace 197,288-square-foot shopping center in Meridian, for $35 million. Built in 2007, CentrePoint Marketplace is located on 19.3 acres at 3319 N. Eagle Road at the intersection of East Ustick Road and Eagle Road. The property is fully leased to tenants including Kohl’s, Dick’s Sporting Goods, Walgreens, Qdoba Mexican Eats, Panera Bread and Wingers Restaurant & Alehouse. Chad Moore of Mountain West Commercial Real Estate represented Wood Investments Cos. in the acquisition of the center from Centrepoint Marketplace LLC, a …

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FinanceInvestment salesNew YorkNews

Progress Capital Arranges $15 Million Acquisition Loan for Harlem Development Site

by Julia Sanders

New York City — Progress Capital has arranged a $15 million acquisition loan for a development site located at 124-132 E. 125th St. in Harlem. The site is situated near public transit outlets and several recreational areas such as McNair Park, Alice Kornegay Triangle and Harlem Art Park. The borrower, locally based developer Maddd Equities, plans to construct a building of an undisclosed size that will feature retail and other types of commercial space. Brad Domenico of Progress Capital arranged the loan, terms of which included two years of interest-only …

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CaliforniaInvestment salesNews

Yosemite Properties Sells Whitmore Plaza Shopping Center in Ceres, California

by Julia Sanders

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.

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Investment salesNewsTexas

Strive Arranges the Sale of Virginia Commons in Metro Dallas

by Julia Sanders

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.

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Lansing Mall
Investment salesMichiganNews

Kohan Acquires 706,925-Square-Foot Lansing Mall in Michigan

by Julia Sanders

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.

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Bradley Commons
IllinoisInvestment salesNews

Hanley Investment Group Arranges $4.4 Million Sale of Retail Pad Site in Bourbonnais, Illinois

by Julia Sanders

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 …

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Former FedEx
DevelopmentMissouriNews

Block & Co. Transforms FedEx location to Retail in Independence, Missouri

by Julia Sanders

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 …

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Vista Terrace
CaliforniaInvestment salesNews

Marcus & Millichap Arranges Sale of Two Shopping Centers in Vista, California for $18.3 Million

by Julia Sanders

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.

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Ulta
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Investments Brokers $22.6 Million Sale of Central Plaza Shopping Center in Lake Elsinore, California

by Julia Sanders

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 …

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