Bluffton, Ind. — Marcus & Millichap has brokered the $2.4 million sale of a single-tenant retail property in Bluffton, roughly 25 miles south of Fort Wayne. Built in 2023, the building is occupied by Walgreens, with approximately 4.5 years remaining on the triple-net lease. Jordan Klink and David Klink of Marcus & Millichap represented the seller, Eureka Limited Co., and procured the buyer, Valuecom22 LLC, in the transaction.
Corona, Calif. — Castle & Cooke has received $140 million in financing for Crossings at Corona, a retail center located in Corona. Delivered in 2005, the property totals 833,995 square feet. Tenants at the property include Marshalls, Kohl’s, HomeGoods, Sportsman’s Warehouse, Burlington and Edward’s Theatre. John Marshall, Spencer Seibring and Nick Englhard of JLL Capital Markets arranged the loan through Deutsche Bank AG.
Dacula, Ga. — Hanley Investment Group Real Estate Advisors has brokered the $25 million sale of Publix at Harbins 316, a shopping center located in Dacula, roughly 40 miles outside Atlanta. Tenants at the center, which is anchored by Publix, include Great Clips, Starbucks Coffee, Jersey Mike’s Subs, Wingstop, The UPS Store and Heartland Dental. Ed Hanley and Kevin Fryman of Hanley, with ParaSell Inc., represented the buyer, a San Diego-based investor, in the transaction. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Watkins Real Estate Group.
Philadelphia — Apple Cinemas has signed an 82,000-square-foot lease at Riverview Plaza III, a retail center located in Philadelphia. Tower Investments owns the development, which is situated one mile from Center City. Richard Soloff of Soloff Realty & Development manages leasing for the property. Founded in 2010, Apple Cinemas currently operates multiple theaters across six states. Other locations include Greece and Hicksville, New York; San Francisco and Danville, California; and Royal Palm Beach, Florida.
Buffalo Grove, Ill. — Quantum Real Estate Advisors Inc. has brokered the $3.9 million sale of a 94,000-square-foot shopping center located in the northwest Chicago suburb of Buffalo Grove. At the time of sale, the property was 51 percent leased to tenants including Aldi, Dollar Tree and AutoZone. Brett Berlin of Quantum represented the buyer, a private developer based in Illinois that plans to redevelop the center. The previous owner lost the property to its lender.
Cedar Park, Texas — CenterSquare has acquired the Shops at Lakeline, a 22,443-square-foot retail center located in the Austin suburb of Cedar Park. The property was fully leased at the time of acquisition. According to a press release issued by the company, the purchase aligns with CenterSquare’s strategy “to target unanchored, high-quality essential service retail (ESR) centers in strong demographic submarkets.”
Lombard, Ill. — A joint venture between Pacific Retail Capital Partners (PRCP) and Synergy Construction Group has broken ground on the mixed-use redevelopment of Yorktown Center, an enclosed regional mall located in the Chicago suburb of Lombard. The 1.2 million-square-foot mall opened its doors in October 1968. The 130-acre property is currently home to over 170 stores and restaurants, including anchors Von Maur and JCPenney. The joint venture acquired a 217,887-square-foot anchor building at the site that was formerly occupied by Carson Pirie Scott in fall 2022. The property will be …
San Marcos, Texas — Partners Capital, the investment platform of Partners Real Estate, has sold San Marcos Place, a 73,882-square-foot retail center located in San Marcos. An Austin, Texas-based private buyer acquired the property for an undisclosed price. Built in 1985 and renovated in 2017, the center was 82 percent occupied at the time of sale. Cathy Nabours and Kyle Shaffer of SRS Real Estate Partners represented Partners Capital in the transaction. Partners Capital acquired San Marcos Place in June 2018 as part of its Partners Opportunity Fund II.
Denver — KPR Centers has secured a $33.9 million loan to finance the acquisition of University Hills, a retail center located in Denver. Sunny Sajnani and Travis Headapohl of Institutional Property Advisors (IPA) Capital Markets, a division of Marcus & Millichap, arranged the five-year financing through a life insurance company lender. The fixed-rate loan features full-term interest-only payments and prepayment open at par for the last year. Tom Lagos of IPA procured the buyer in the sales transaction. University Hill was fully leased to tenants including King Soopers, Michaels, Marshalls, Office …
Groton, Conn. — Atlantic Capital Partners, a division of Atlantic Retail, has brokered the $15.1 million sale of Groton Shopper Mart, a 171,858-square-foot shopping center in Groton in southern coastal Connecticut. Big Y Supermarket anchors the center, which was 77 percent leased at the time of sale. Other tenants at the property include Starbucks Coffee, CVS/pharmacy and Chase Bank. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented both the buyer and seller in the transaction. Stephen Joseph and Stephen Hassenflu, also with Atlantic Capital Partners, …
