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Backlick Center
Investment salesNewsVirginia

Cushman & Wakefield Arranges $25 Million Sale of Shopping Center in Metro D.C.

by Julia Sanders

Springfield, Va. — Cushman & Wakefield has arranged the sale of Backlick Center, a 48,267-square-foot shopping center in Springfield, about 14 miles from Washington, D.C. John Owendoff of Cushman & Wakefield represented the seller, a Dallas-based real estate fund advised by Crow Holdings Capital, in the transaction. Glazer Properties acquired the property for $25 million. Backlick Center was 91 percent leased at the time of sale to tenants including Chick-fil-A, Advance Auto Parts, Outback Steakhouse and Taco Bamba.

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Essex Square
Investment salesNewsWisconsin

Next Realty Acquires 44,000-Square-Foot Essex Square Retail Center in Madison, Wisconsin

by Julia Sanders

Madison, Wis. — An affiliate of Next Realty LLC has acquired Essex Square, a 44,000-square-foot retail center in Madison. The property was home to 15 tenants at the time of sale, including Concentra Health Services, Half Price Books, The Camera Store, Allstate, Great Clips and MOKA Coffee. Built in 1987 and located along East Towne Boulevard, Essex Square is situated adjacent to the 790,000-square-foot East Towne Mall. Landmark Credit Union provided acquisition financing.

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Shaw West Center
CaliforniaInvestment salesNews

Matthews Brokers $11.1 Million Acquisition of Shaw West Center in Central California

by Julia Sanders

Fresno, Calif. — Matthews Real Estate Investment Services has arranged the purchase of Shaw West Center, a shopping plaza located at 2047-2097 W. Shaw Ave. in Fresno. A 1031 exchange buyer acquired the property from an undisclosed seller for $11.1 million. Nabil Awada of Matthews Real Estate Investment Services represented the buyer in the deal.

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Investment salesNewsWisconsin

Marcus & Millichap Arranges $5 Million Sale of Retail Property in Madison, Wisconsin

by Julia Sanders

Madison, Wis. — Marcus & Millichap has arranged the sale of Sauk Point Square in Madison for $5 million. The 26,350-square-foot retail center is located at 701 N. High Point Road. Marcus & Millichap’s Rowlett Group represented the seller, a group of local investors, as well as the buyer, an out-of-state limited liability company.

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O'Reilly
ColoradoInvestment salesNews

Blue West Capital Arranges Sale of O’Reilly Auto Parts-Occupied Building in Metro Denver

by Julia Sanders

Lakewood, Colo. — Blue West Capital has brokered the sale of a retail property located at 5807 W. Colfax Ave. in Lakewood, about 7 miles from Denver. A California-based family office sold the property to a California-based investor for $2.8 million. O’Reilly Auto Parts has occupied the property on a net-lease basis since 1998, with approximately four years remaining on its lease. Brandon Gayeski of Blue West Capital represented the seller and buyer in the deal.

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Foxtrail
FloridaLeasingNews

Foxtail Coffee Opens at Butler Town Center in Northern Florida

by Julia Sanders

Gainesville, Fla. — Foxtail Coffee Co. has opened a new location at Butler Town Center, a shopping mall in Gainesville with over 150 stores and restaurants. The Orlando-based coffee shop serves various espresso drinks, cold brew coffee, teas and treats. The new location will be at 2851 SW 35th Drive in Suite 10, next to P.F. Chang’s, CycleBar and Pink Narcissus. The coffee shop location is a local franchise owned by Cleveland Hooper.

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Stuyvesant Plaza
Investment salesNew YorkNews

WS Development Acquires 240,000-Square-Foot Stuyvesant Plaza in Albany, New York

by Julia Sanders

Albany, N.Y. — WS Development has acquired Stuyvesant Plaza, a 240,000-square-foot shopping center in Albany that houses more than 60 retailers and restaurants. The property was originally built in 1959. The seller was an entity doing business as Stuyvesant Plaza Inc. The new ownership plans to implement a value-add program.

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Best Buy
IllinoisInvestment salesNews

Boulder Group Negotiates $7.9 Million Sale of Property Net Leased to Best Buy in Central Illinois

by Julia Sanders

Peoria, Ill. — The Boulder Group has negotiated the $7.9 million sale of a single-tenant retail property net leased to Best Buy in Peoria. The 46,432-square-foot building is located at 5001 N. Big Hollow Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based investor. A Midwest-based real estate company was the buyer. Best Buy has more than four years remaining on its lease.

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Regency Plaza
Investment salesNevadaNews

CBRE Brokers Sale of 28,281-Square-Foot Regency Plaza Retail Center in Las Vegas

by Julia Sanders

Las Vegas — CBRE has arranged the sale of Regency Plaza, a retail property located at 320 N. Nellis Blvd. in Las Vegas. Rock Ridge Regency Plaza LLC acquired the property from Regency Developments LLC for $4.4 million. Roy Fritz, Michael Hsu, Dylan Heroy and Kellie Ortiz-Thompson of CBRE represented the seller in the transaction. Five tenants fully occupy the 28,281-square-foot property on long-term leases.

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LeasingNewsVirginia

Floor & Decor Opens Design Studio in Northern Virginia

by Julia Sanders

Vienna, Va. — Floor & Decor, a specialty retailer of hard-surface flooring, will open its newest location in Vienna on Wednesday, March 23. The Floor & Decor Design Studio will offer design services and samples for customers, and the opportunity to work one-on-one with expert design professionals. Additionally, customers can have a private consultation in their own space, during which a designer will provide hand-selected samples, measurements, a 3D rendering of the design and a custom quote for the entire project. The studio will have a team of trained designers …

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