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Citivest
Investment salesMontanaNews

Citivest Commercial, Sage Investco Acquire 116,992-Square-Foot Retail Property in Helena, Montana

by Julia Sanders

Helena, Mont. — Citivest Commercial Investments and Sage Investco have purchased a former department store building in Helena for an undisclosed price. The 116,992-square-foot property also includes two pad development opportunities, with one ground finalized and another in negotiations. Shopko formerly occupied the building, which is situated within a larger center anchored by Albertsons, Target, JoAnn Fabric and Crafts and Ross Dress for Less. The buyers plan to implement a renovation program, which will include updating paint colors, landscaping and signage to maximize the center’s value. The name of the …

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ConnecticutInvestment salesNews

JLL Negotiates $20.2 Million Sale of Retail Center in Suburban New Haven

by Julia Sanders

Wallingford, Conn. — JLL has negotiated the $20.2 million sale of a 160,000-square-foot retail center located in the New Haven suburb of Wallingford. Lowe’s Home Improvement anchors the center, which was fully leased at the time of sale. Nat Heald and Chris Angelone of JLL represented the seller, Davenport Cos., in the transaction. The buyer was not disclosed.

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Wegmans
DevelopmentNewsWashington DC

Wegmans to Open 84,000-Square-Foot Store in Northwest D.C.

by Julia Sanders

Washington, D.C. — Wegmans Food Markets is set to open its first store in Northwest Washington, D.C. The new location will open within the $640 million City Ridge project by Roadside Development and North America Sekisui House, which includes commercial, residential and retail space. The 84,000-square-foot Wegmans will open in summer 2022 and include a Market Café, coffee shop and a casual restaurant called The Burger Bar. The store site will also offer parking below with residential units above. Wegmans now operates 106 stores in seven states, and is set …

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4241
CaliforniaInvestment salesNews

Matthews Brokers $10.1 Million Sale of Rite Aid-Occupied Retail Property in Sacramento

by Julia Sanders

Sacramento, Calif. — Matthews Real Estate Investment Services has arranged the sale of a retail building located at 4241 Marconi Ave. in Sacramento. A private individual sold the property to an undisclosed buyer for $10.1 million. Rite Aid occupies the property. Courtney Haubach, Bill Pedersen and Chad Kurz of Matthews represented the seller and sourced the buyer for the transaction.

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12918-12930
CaliforniaInvestment salesNews

Commercial Asset Advisors Negotiates $6 Million Purchase of Retail Center in San Diego County

by Julia Sanders

Jamul, Calif. — Commercial Asset Advisors (CAA) has arranged the off-market acquisition of a retail center located in Jamul. Fuel Team Inc. purchased the property from Dan Floit for $6 million. Located 12918-12930 Campo Road, a 7-Eleven gas station anchors the 18,926-square-foot property. Gino Kalasho and Mike Conger of CAA represented the buyer in the transaction.

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FinanceIndianaNews

Ariel Property Advisors Arranges $2.8 Million Refinancing of Walgreens-Occupied Property in Decatur, Indiana

by Julia Sanders

Decatur, Ind. — Ariel Property Advisors has arranged the $2.8 million refinancing of a 15,000-square-foot retail property occupied by Walgreens in Decatur, about 20 miles southeast of Fort Wayne. The property is located at 123 N. 13th St. Matt Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which features a fixed interest rate of 3.99 percent. A national credit union provided the loan on behalf of the undisclosed borrower.

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Pelican Place
AlabamaInvestment salesNews

Franklin Street Arranges $16 Million Sale of Shopping Center in Gulf Shores, Alabama

by Julia Sanders

Gulf Shores, Ala. — Franklin Street has arranged the sale of Pelican Place at Craft Farms, a 220,372-square-foot shopping center in Gulf Shores. Bryan Belk and John Tennant of Franklin Street’s Retail Investment Sales Team represented the seller, an affiliate of RCG Ventures, in the transaction. Octave Holdings purchased the property for $16 million. Pelican Place at Craft Farms was 82.9 percent leased at the time of sale to tenants such as CMX Cinemas movie theater, Books-A-Million, Bed Bath & Beyond and Dollar Tree. The property is shadow-anchored by Target …

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ArizonaInvestment salesNews

Thompson Thrift Retail Group Sells Sunrise Promenade Shopping Center Near Phoenix for $18.2 Million

by Julia Sanders

Peoria, Ariz. — Thompson Thrift Retail Group has completed the disposition of Sunrise Promenade, a shopping center in Peoria. An undisclosed buyer acquired the center for $18.2 million. Situated at the corner of Lake Pleasant Parkway and Happy Valley Road, Sunrise Promenade features 26,852 square feet of retail space. Current tenants include Aldi, Black Rock Coffee Bar, Club Pilates, Sherwin-Williams, Dip Nail Spa, Harumi Sushi, Wow Wow Hawaiian Lemonade, Stretch Labs, Butta Cakes and Pearle Vision.

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Mitchell Gold
DevelopmentFloridaNews

Home Furnishings Retailer Opens at Vero Beach Outlets in South Florida

by Julia Sanders

Vero Beach, Fla. — Mitchell Gold + Bob Williams Home Furnishings Outlet has opened at Vero Beach Outlets, a 340,000-square-foot outlet center located in Vero Beach. The store opened within an 11,000-square-foot space. Retailers at Vero Beach Outlets include Michael Kors, Coach Outlet, Calvin Klein, Columbia Sportswear, Tommy Hilfiger, Gap Factory, Polo Ralph Lauren Factory Store, Design Within Reach Outlet, Williams-Sonoma Outlet and RH Outlet.

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Walgreens
Investment salesLouisianaNews

Marcus & Millichap Brokers $4.9 Million Sale of Walgreens-Occupied Retail Property in Franklin, Louisiana

by Julia Sanders

Franklin, La. — Marcus & Millichap has arranged the $4.9 million sale of a 14,820-square-foot retail property located at 2030 Main St. in Franklin. The property is net-leased to Walgreens. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company, in the transaction. David Cutler, Joshua Johnson and Kirk Trammell of Marcus & Millichap represented the buyer, also a limited liability company. Chris Shaheen of Marcus & Millichap assisted in closing the transaction.

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