Rochester, N.Y. — NNN Acquisition Group LLC, a Texas-based developer, has purchased a 205,000-square-foot retail property leased to Walmart store in Rochester, located approximately 70 miles east of Buffalo. NNN purchased the property for $8.3 million and may redevelop the property following the completion of Walmart’s lease term, which has less than five years remaining. Joshua Pardue of Stan Johnson Co. represented the seller, Urban Edge Properties, in the transaction.
Raleigh, N.C. — First Washington Realty has acquired Harvest Plaza, a 99,479-square-foot retail center in Raleigh. The seller and sales price were not disclosed, although Triangle Business Journal reports Capital Partners and York Properties sold the property for $21 million. Walgreens and Planet Fitness anchor the retail center, which is located at 9650 Strickland Road, 10 miles north of downtown Raleigh.
Albuquerque, N.M. — Phillips Edison & Co. has completed the sale of Juan Tabo Plaza, an institutional-quality shopping center located at 11000 Montgomery Road NE in Albuquerque. Samco Properties purchased the asset for an undisclosed price free and clear of existing debt. Anchored by Walmart Neighborhood Market, Juan Tabo Plaza features 74,393 square feet of institutional-quality retail space in a mix of grocery, hair salon, restaurants, tax preparation and health tenants. The property has been institutionally owned and maintained since the seller acquired the asset in 2014. Chris Gerard, Ryan …
Seven Hills, Ohio — Anchor Cleveland has negotiated the sale of a 120,000-square-foot property formerly occupied by Kmart in suburban Cleveland for $3.5 million. The 14-acre sale also included vacant land and existing adjacent buildings. Matt Wilson of Anchor Cleveland represented the buyer, Meijer Stores. Florida-based Kin Properties was the seller.
Delafield, Wis. — An affiliate of Next Realty LLC has acquired Hillside Terrace Shopping Center in Delafield, about 25 miles west of Milwaukee. The purchase price was not disclosed. The 17,000-square-foot retail center is located on Hillside Drive. The property is fully leased to tenants such as Jimmy John’s, Pizza Hut, Stone Creek Coffee and Chris & Co. Salon. This is the seventh acquisition for Next Realty Fund IX LP.
St. Augusta, Minn. — KW Commercial has arranged the sale of Delux Retail Center, a 15,310-square-foot retail center in St. Augusta, near St. Cloud. Snap Fitness and Delux Liquor anchor the property, which is located at 24086 State Highway 15. Matthew Klein and Anthony Passanante of KW Commercial/AMK Properties represented the buyer, MSK Realty LLC. Steve Feneis and Maria Berdan of Granite City Real Estate represented the undisclosed seller.
Glendale, Wis. — Cypress Equities has acquired the 1.2 million-square-foot Bayshore Town Center in Glendale near Milwaukee. The purchase price was not disclosed. Cypress plans to reposition the property into an entertainment, shopping, dining and mixed-use project. Once complete, the re-envisioned center will include new architecture, landscaping and art by local creatives. Plans call for more retailers, restaurants, a select-service hotel, 300 new residential units, Class A office space and coworking space. The park area will be upgraded and include programmed, year-round entertainment. The project will be completed in phases …
Philadelphia — JLL has negotiated the sale of County Line Plaza, a 74,968-square-foot retail center in northeast Philadelphia. Anchored by Big Lots and The Edge Fitness Club, the property was approximately 90 percent leased at the time of sale to tenants such as Integrated Medical Care, Pho Palace, Akira Sushi and DT Nails & Spa. Chris Munley, Jim Galbally and Colin Behr of JLL represented the seller, Slate Property Group, in the transaction. A private investor purchased the asset for an undisclosed price.
Pleasant Prairie, Wis. — Quantum Real Estate Advisors Inc. has brokered the sale of a roughly 26,000-square-foot retail center in Pleasant Prairie for an undisclosed price. Built in 2007, the property is located at 9740-9800 76th St. The center was fully leased at the time of sale to tenants such as Starbucks, Panda Express, Aspen Dental and AT&T. Chad Firsel of Quantum represented the seller, a Chicago-based private investor. Daniel Waszak of Quantum represented the buyer, a Miami-based investor.
Sparks, Nev. — CIRE Equity has purchased Sparks Galleria, a grocery-anchored retail center located in Sparks, a suburb of Reno. Pine Tree Commercial Realty sold the asset for $40.6 million. Anchored by Sprouts Farmers Market and Marshalls/HomeGoods, Sparks Galleria features 212,647 square feet of retail space. Additional tenants include Starbucks Coffee, Qdoda Mexican Eats, See’s Candies and Kay Jewelers. Colliers International, in collaboration with Newmark Knight Frank, represented the seller in the deal.
