Boston — SVN | Parsons Commercial Group has brokered the $7 million sale of a portfolio of four retail buildings totaling 15,181 square feet in Massachusetts. Rockland Trust occupies each of the buildings, which are located at 40 Austin St. in Newton, 1290 Main St. in Waltham, 4 N. Main St. in Bellingham and 231 E. Central St. in Franklin. The buyer and seller were not disclosed. Marilyn Santiago of SVN | Parsons Commercial Group brokered the deal.
North Charleston, S.C. — Jamestown, an Atlanta-based developer and owner of adaptive mixed-use developments around the world, has partnered with Southeast real estate developers William Cogswell and Jay Weaver to redevelop the 45-acre North Charleston Navy Yard. Decommissioned in 1996 but still home to dozens of companies, the waterfront campus will be reimagined into a 1.2 million-square-foot mixed-use neighborhood called Navy Yard Charleston. The project will add new office space, residences, shopping and dining to the nearby Park Circle neighborhood, as well as new green spaces, a concert hall and …
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 …
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 …
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 …
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.
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.
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.
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 …
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 …