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CaliforniaInvestment salesMallsNews

Mason Asset Management, Namdar Group Buy 500,000-Square-Foot Sierra Vista Mall in San Joaquin Valley

by Alex Tostado

Clovis, Calif. — Mason Asset Management and Namdar Group have purchased Sierra Vista Mall and Lifestyle Center, a regional mall located at 1050 Shaw Ave. in Clovis, eight miles northeast of Fresno. An undisclosed seller sold the asset for $41 million. The seller had a 100 percent leasehold interest in the 500,000-square-foot mall. Originally built in 1988 and renovated in 2005, the mall features an outparcel and open-air configuration, as well as interior space. Current tenants include Kohls, Target, Sierra Vista Cinema, AT&T, Baja Fresh, Chipotle, Jamba Juice, Panera Bread, …

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CaliforniaInvestment salesNews

JLL Arranges $13.6 Million Sale of Leasehold Interest of Glendora Commons Shopping Center in Los Angeles County

by Alex Tostado

Glendora, Calif. — JLL has brokered the sale of Glendora Commons, a grocery-anchored retail center located in Glendora. Seagrove Property Group sold the asset to a private foreign investor for $13.6 million. Located at 1241-1251 Lone Hill Ave., Glendora Commons features 41,689 square feet of retail space. Completed in 2017, the property is currently occupied by Aldi, Guitar Center, Chick-fil-A and Pick-Up-Stix. Bryan Ley and Tony Ensbury of JLL Capital Markets represented the seller in the sale.

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FloridaInvestment salesNewsRetailers

Katz Properties Acquires 174,037-Square-Foot Shopping Center in Metro Jacksonville

by Alex Tostado

Orange Park, Fla. — Katz Properties Retail has acquired Bolton Plaza, a 174,063-square-foot shopping center in Orange Park. Bolton Plaza was built in 1988 and was redeveloped and expanded between 2015 and 2017. The center was 99 percent leased at the time of the sale to tenants including Aldi, Marshalls, LA Fitness and Academy Sports + Outdoors. Bolton Plaza is situated at 661 Blanding Blvd., 20 miles south of downtown Jacksonville. The seller and sales price were not disclosed.

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ConnecticutInvestment salesNewsRetailers

Midwood Investment Sells Retail Property in Greenwich, Connecticut for $30 Million

by Alex Tostado

Greenwich, Conn. — Midwood Investment & Development has sold a retail property leased to CVS in Greenwich. The 10,695-square-foot property is located at 99 Greenwich Ave., in a retail and restaurant corridor that also includes apparel vendors Saks Fifth Avenue and Gucci. Jeffrey Dunne, David Gavin, Travis Langer and Will Pike of CBRE represented the seller in the transaction. The trio also procured the undisclosed buyer.

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FinanceFloridaNewsRetailers

Aztec Group Arranges $18.5 Million Refinancing Loan for Retail Center in South Florida

by Alex Tostado

Pembroke Pines, Fla. — The Aztec Group has arranged an $18.5 million refinancing loan of an existing construction for Pembroke Centre in Pembroke Pines. Continental Casualty Co. provided the five-year, non-recourse, fixed-rate loan. The borrower, Hart Lyman Cos., delivered Pembroke Centre, a 37,900-square-foot shopping center, in 2017. Tenants include anchor Twin Peaks, Comcast, TooJay’s, AT&T, Firebirds, Pieology and Habit Burger. Howard Taft, Charles Penan and Joel Zusman of Atzec Group represented the borrower in the loan transaction.

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FloridaInvestment salesNewsRetailers

JLL Negotiates $10.3 Million Sale of Four Retail Properties in Sarasota, Florida

by Alex Tostado

Sarasota, Fla. — JLL has arranged the sale of four retail properties in downtown Sarasota totaling 30,188 square feet. The four properties, which are situated on Main Street and Lemon Avenue, sold for $10.3 million. The properties were 89 percent leased at the time of sale to tenants including Sur La Table, Bluemercury, Eileen Fisher, Hyde Park Prime Steakhouse, Boca Kitchen, J. McLaughlin and Sara Campbell. Eric Williams, Daniel Finkle and Luis Castillo of JLL represented the seller, Lemon Avenue Partners LLC, in the transaction. The buyer was not disclosed.

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CaliforniaInvestment salesNewsRetailers

Lucescu Realty Negotiates Sales of Two Shopping Centers in Northern California for $24.6 Million

by Alex Tostado

Oroville and Auburn, Calif. — Lucescu Realty has arranged the sales of two shopping centers located in Northern California. Community Centers of America sold the properties for a total of $24.6 million. A Sacramento, California-based private development/investment company acquired Currier Square, a 131,017-square-foot, open-air community shopping center in Oroville, for $14.8 million. At the time of sale, the property was 88.5 percent leased to a variety of tenants, including Raley’s Grocery, Marshalls and Petco. The asset also includes four out-pad parcels positioned for redevelopment/buildout. A Los Angeles-based private investor purchased …

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DevelopmentFloridaNewsRetailers

Blackwater, Hutton Complete 161,000-Square-Foot Shopping Center Near Tampa

by Alex Tostado

Trinity, Fla. — A partnership between two developers, Alabama-based Blackwater Real Estate and Tennessee-based Hutton, has completed The Village at Mitchell Ranch, a 161,000-square-foot shopping center near Tampa. A 30,0000-square-foot Sprouts Farmers Market anchors the property, which is located at the intersection of State Route 54 and Little Road in Trinity. Other anchors include HomeGoods, Michaels, Five Below, Skechers and Ulta Beauty. Restaurant users include Burger King, Chipotle Mexican Grill and Panda Express, with more to be announced in the coming months.

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Investment salesKansasNewsRetailers

NKF Brokers Sale of Towne West Square Regional Mall in Wichita, Kansas for $14 Million

by Alex Tostado

Wichita, Kan. — Newmark Knight Frank (NKF) has brokered the sale of Towne West Square in Wichita for $14 million. The regional mall spans nearly 900,000 square feet and is situated on 46 acres at 4600 W. Kellogg Drive. It opened in 1980. Anchor tenants include Dick’s Sporting Goods, Dillard’s Clearance Center, JC Penney and Regal Cinemas. Shopping mall investment company Kohan Retail Investment Group purchased the asset. Kohan focuses on distressed properties with value-add opportunities. Thomas Dobrowski of NKF represented the seller. In February, ownership of the mall was …

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FloridaInvestment salesNewsRetailers

SRS Arranges $11.8 Million Sale of Retail Center in Central Florida

by Alex Tostado

Viera, Fla. — SRS Real Estate Partners has negotiated the $11.8 million sale of Viera Colonnade Shops, a 27,051-square-foot retail center comprising three buildings, in Viera. The asset is situated at 2328, 2338 and 2348 Citadel Way, 35 miles east of downtown Orlando. The property was delivered in 2017 and 2018. Viera Colonnade is fully leased to 14 tenants, including UPS, Jersey Mike’s, Great Clips, Mattress One and Blaze Pizza. Additionally, all 14 tenants recently signed brand new 10-year triple-net leases with extension options. Patrick Luther and Matthew Mousavi of …

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