Sachse, Texas — Marcus & Millichap has brokered the sale of Brookview Center, an 8,723-square-foot retail strip property located in Sachse, a northeastern suburb of Dallas. Philip Levy and Connor Zmolik of Marcus & Millichap represented the seller, a private investor, in the transaction. The property was built in 1985 and was fully occupied at the time of sale. All tenants are signed to triple-net leases.
New York City — Cushman & Wakefield, has negotiated a 5,500-square-foot retail lease for French beauty product chain Sephora in downtown Brooklyn. The retail space is located within the Atlantic Terminal Mall, across from the Barclays Center. The new store is scheduled to open in October. Brandon Singer, Ian Lerner, Alan Schmerzler and Diana Boutross of Cushman & Wakefield represented the landlord, New York-based Madison International, in the lease negotiations. Virginia Pittarelli of Crown Retail Services represented Sephora.
New York City — PUMA has opened an 18,000-square-foot flagship store in Manhattan, the company’s first location of this kind in North America. Customers can use the store’s PUMA x YOU technology to customize clothing and accessories before purchase. Additional in-store technology includes virtual racing and soccer simulators, 3D knitting and screens that display alternate selections and colors of in-store merchandise.
Brooksville, Fla. — The Palomar Group has arranged the $9.1 million sale of South Plaza, a 127,224-square-foot, Winn Dixie-anchored shopping center in Brooksville. The property was 97 percent leased at the time of the sale to tenants including Winn Dixie, Auto Zone, Beall’s Outlet, Focus Fit, UPS Store, Buddy’s Home Furnishings and T-Mobile. South Plaza is located at the corner of Cortez Boulevard and S. Broad Street, 50 miles north of downtown Tampa. David Rivers, Steve Collins and Ryan McArdle of The Palomar Group represented the seller, an undisclosed regional …
Hagerstown, Md. — Continental Realty Corp. has acquired Centre at Hagerstown, a 331,000-square-foot retail center in Hagerstown, for $23.5 million. The property was 93 percent leased at the time of sale to tenants including Dick’s Sporting Goods, Bed Bath & Beyond, Marshalls, Books-A-Million, OfficeMax, PetSmart, Regency Furniture, 2nd & Charles and A.C. Moore. Centre at Hagerstown is located at 17850 Garland Grosh Blvd., three miles from downtown Hagerstown, the county seat of Washington County. Danny Finkle, Jordan Lex and John Owendoff of JLL represented the seller, WashREIT, in the transaction.
Boca Raton, Fla. — Avison Young has brokered the $16 million sale of West Boca Plaza, a 70,524-square-foot, Publix-anchored shopping center in Boca Raton. The center is located at 22973-23071 U.S. Highway 441, seven miles west of downtown Boca Raton. Tenants include Publix, Little Caesar’s, Orient Garden, La Perredo del Gordo and 441 Animal Hospital. David Duckworth, John Crotty, Michael Fay and Brian de La Fé of Avison Young represented the seller, Sandalfoot Investments LLC, in the transaction. Investments Limited acquired the property.
Colorado Springs, Colo. — Newmark Knight Frank Colorado has arranged the sale of a Roundhouse, a retail building located at 600 S. 21st St. in Colorado Springs. CWC Income Properties 6 LLC acquired the property from 600 S. 21st LLC as an investment asset for $10.1 million. Riki Hashimoto, Dan Grooters, Brian Wagner and Mark O’Donnell of NKF Colorado represented the seller in the transaction.
New Orleans — Marcus & Millichap has arranged the $6.4 million sale of River Commons, a 59,483-square-foot shopping center in New Orleans. River Commons, which is shadow-anchored by Walmart, was leased to 17 tenants at the time of sale, including Dollar Tree, Shoe Show, Cato and Sally Beauty. Zach Taylor and Don McMinn of Marcus & Millichap represented the seller, Rivercrest Realty, in the transaction. The buyer was Salim Rupani, a private investor based in Texas.
Toronto — Le Tote, a fashion rental subscription service, has agreed to buy Hudson’s Bay Co.’s (HBC) Lord + Taylor brand for $100 million. Le Tote will pay Toronto-based HBC $75 million in cash upon closing as well as a promissory note of $25 million, payable after two years. In addition, HBC will receive an equity stake in Le Tote, two seats on the company’s board of directors and certain rights as a minority shareholder. Le Tote will assume responsibility of Lord + Taylor’s 38 stores, digital channels and inventory. …
Beaumont, Texas — Beaumont, Texas-based Albanese Cormier Holdings has acquired nine shopping centers totaling 758,983 square feet in Indiana, Michigan, Ohio and West Virginia. The purchase prices were undisclosed. ShopOne was the seller. Representatives from May Real Estate, Cooper Commercial Investment Group, Marcus & Millichap and HFF brokered the sales. The average occupancy of the properties is 92 percent. The properties include: Pine Lake Shopping Center (147,017 square feet) in LaPorte, Indiana; Forest Park Plaza (104,231 square feet) in Brazil, Indiana; Phoenix Square (47,415 square feet) in South Haven, Michigan; …