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ColoradoInvestment salesNewsRetailers

CBRE Brokers $4.1 Million Sale of E Shops at Mesa Ridge in Fountain, Colorado

by Alex Tostado

Fountain, Colo. — CBRE has arranged the sale of E Shops at Mesa Ridge, a retail center located at 6825 Mesa Ridge Parkway in Fountain. A Los Angeles-based private real estate fund sold the asset to a private discretionary investor for $4.1 million. Built in 2013, the 9,380-square-foot property features five tenant spaces. At the time of sale, the property was fully occupied by Noodles & Co., Sprint, Jersey Mike’s, Sports Clips and H&R Block. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE Capital Markets, National Retail Partners, represented …

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ArizonaGrocery-anchoredInvestment salesNewsRetailers

Vestar Sells Grocery-Anchored Shopping Center for $18.2 Million in Gilbert, Arizona

by Alex Tostado

Gilbert, Ariz. — Phoenix-based Vestar has completed the sale of Lakeview Village at Morrison Ranch, a shopping center located at the corner of Higley and Elliot roads in Gilbert. Colorado-based JFRCO acquired the asset for $18.2 million. Developed in 2014, the 93,741-square-foot retail center is anchored by a 52,443-square-foot Bashas. At the time of sale, the property was 98.6 percent leased to a variety of tenants, including Dance Republic, Panda Express, UPS Store and Edward Jones. Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller, while John …

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FinanceMichiganNewsRetailers

Berkadia Arranges $23.2 Million Refinancing for Retail Property in Michigan

by Alex Tostado

Shelby Township, Mich. — Berkadia has arranged a $23.2 million loan for the refinancing of The Shops at Stony Creek, a 325,000-square-foot shopping center in Shelby Township. LA Fitness, TJ Maxx, Ulta, Petco and Five Below anchor the property, which is located at the southwest corner of 26 Mile Road and Van Dyke Avenue. Kroger shadow anchors the property. Colin Callaghan and Aaron Moll of Berkadia arranged the 10-year, fixed-rate loan, which features a 30-year amortization and a 75 percent loan-to-value ratio. Michigan-based MJC Homes Inc. was the borrower. The …

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IllinoisInvestment salesNewsRetailers

Harbert Management Acquires 316,575-Square-Foot Shopping Center in Hoffman Estates, Illinois

by Alex Tostado

Hoffman Estates, Ill. — Harbert Management Corp. has acquired Poplar-Prairie Stone Crossing, a 316,575-square-foot shopping center in Hoffman Estates. The purchase price was not disclosed. Tenants include TJ Maxx, Ross Dress for Less, Cost Plus World Market, PetSmart, Old Navy and Ulta. Target shadow anchors the property. CBRE represented the seller, Walton Street Capital, in the transaction.

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FinanceGrocery-anchoredNew JerseyNewsRetailers

JLL Secures $32 Million Loan for Refinancing of Shopping Center in Lyndhurst, New Jersey

by Alex Tostado

Lyndhurst, N.J. — JLL has secured a $32 million loan for the refinancing of Veterans Square Town Center, a 136,928-square-foot shopping center in Lyndhurst, a western suburb of New York City. Originally constructed in 2000, Veterans Square Town Center is fully occupied by 13 tenants, including anchor tenant ShopRite, HomeGoods, PetSmart and Supercuts. PGIM Real Estate Finance provided the nonrecourse loan, which carries a 10-year term and a fixed interest rate. Proceeds will be used to refinance an existing loan previously arranged by HFF prior to its acquisition by JLL. Jon …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

New Market Properties Buys 99,441-Square-Foot Publix-Anchored Center in Metro Orlando

by Alex Tostado

Davenport, Fla. — New Market Properties, a subsidiary of Preferred Apartment Communities (PAC), has bought Berry Town Center, a 99,441-square-foot, Publix-anchored shopping center in Davenport. Berry Town Center is located at the intersection of U.S. Highway 27 and Sand Mine Road, 29 miles southwest of downtown Orlando and 10 miles southwest of Walt Disney World. John Hancock provided the buyer with acquisition financing. Further details of the sale were not disclosed.

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Investment salesNewsRetailersTexas

The Boulder Group Arranges $9.2 Million Sale of Retail Asset in Houston Net Leased to 24 Hour Fitness

by Alex Tostado

Houston — The Boulder Group, an investment brokerage firm specializing in net-leased assets, has arranged the $9.2 million sale of a single-tenant retail property leased to 24 Hour Fitness in Houston. The 50,000-square-foot building is positioned as an outparcel to Willowbrook Mall, which is anchored by Dick’s Sporting Goods, Dillard’s, JC Penney, Macy’s, Nordstrom Rack, Sears and Apple. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Texas-based private partnership, in the transaction. The buyer was a 1031 exchange investor.

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Southern California Private Investor Buys Aldi-Anchored Retail Asset in Rialto for $8.8 Million

by Alex Tostado

Rialto, Calif. — A Southern California-based private investor has purchased Rialto-Aldi-WSS, a retail asset located on 2.4 acres at 630-660 W. Foothill Blvd. in Rialto. A Los Angeles-based private partnership sold the property for $8.8 million. Built in 2018, the asset features an 18,841-square-foot ALDI grocery store and a 12,430-square-foot WSS, a footwear and apparel retailer. Both ALDI and WSS have a corporate-guaranteed, long-term ground leases with fixed increases every five years and options to renew. Douglas Cole of Marcus & Millichap’s West Los Angeles office represented the buyer, while …

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IllinoisInvestment salesNewsRetailers

Timber Development Sells 27,880-Square-Foot Shopping Center in Wisconsin

by Alex Tostado

Prairie Du Chien Wis. — Timber Development has sold Nathan Plaza, a 27,880-square-foot shopping center in Prairie du Chien in western Wisconsin. The fully occupied property, home to Dollar Tree and Maurices, is located on Selch Road adjacent to a Walmart Supercenter. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented Timber in the $2.8 million sale. A local 1031 exchange buyer purchased the asset.

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Investment salesNevadaNewsRetailers

Canon Commercial Buys 214,127-Square-Foot Westland Fair Retail Asset in Las Vegas

by Alex Tostado

Las Vegas — Houston-based Weingarten Realty Investors has completed the sale of Westland Fair, a shopping center in west Las Vegas. Southern California-based Cannon Commercial acquired the asset for an undisclosed price. The transaction included seven parcels totaling 214,127 square feet of retail space. Rob Ippolito and Michael Zobrist of Newmark Knight Frank represented the seller in the deal. Located at 1251 S. Decatur Blvd., Westland Fair is anchored by regional and national tenants, including Smart & Final Extra!, Michaels and PetSmart. Additional tenants include Raising Cane’s Chicken Fingers, Freddy’s …

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