Woodland Hills, Calif. — Marcus & Millichap has arranged the $5.1 million sale of a single-tenant retail property located in Woodland Hills, approximately 26 miles northwest of downtown Los Angeles. Built in 1978, the 10,000-square-foot building is leased to full-service Mexican restaurant El Torito. Brandon Michaels of Marcus & Millichap marketed the property on behalf of the seller, an entity doing business as Kia Canoga Warner LLC, and procured the buyer, a private investor.
Charlotte, N.C. — Asana Partners and Norges Bank Investment Management (NBIM), which manages the Norwegian Government Pension Fund, have formed Asana Partners Strategic Partners I, a joint venture focused on core and core-plus neighborhood retail properties, including grocery-anchored centers, unanchored centers, street retail and mixed-use properties. Norges invested $500 million in equity for the partnership, and will own a 49 percent stake, according to multiple media outlets. The partnership’s first investment will be a 50 percent interest in a portfolio consisting of premium, grocery-anchored retail centers. In addition, the venture will …
Doral, Fla. — SJC Ventures has opened a 43,000-square-foot Whole Foods Market in Doral, a western suburb of Miami. The grocery store anchors Doral Marketplace, a nearly 90,000-square-foot shopping center, and includes 500 products from Florida-based suppliers. Additional tenants at Doral Marketplace include Shake Shack, J.Crew, First Watch, GoodVets, The Spot Barbershop, Pacific Dental, PNC Bank, Warby Parker, Tide Dry Cleaners, Ulta Beauty, Apizza Brooklyn Resto + Vino and Chick-fil-A. The design-build team for the Whole Foods store included architect Dynamik Design and general contractor Oak Construction.
Weymouth, Mass. — A joint venture between New York City-based Brookfield Properties and Boston-based New England Development has purchased the site of the former South Weymouth Naval Air Station in metro Boston. The co-developers acquired the 1,400-acre site from Washington Capital Management for $65 million. Brookfield and New England Development are planning a mixed-use redevelopment that would include 6,500 housing units, along with about 2 million square feet of commercial and retail space. The project will span more than 1,400 acres across three municipalities — Weymouth, Rockland and Abington, Massachusetts. …
Cincinnati and Pittsburgh — The Kroger Co. and Giant Eagle, Inc. have entered into a definitive agreement in which Kroger will acquire Giant Eagle, a family-owned food and pharmacy retailer. The company operates 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana. The transaction has been unanimously approved by Kroger’s board of directors. The purchase price will be $1.65 billion, comprised of $1.25 billion in cash and the assumption of approximately $400 million in outstanding liabilities. In connection with obtaining the requisite regulatory clearance necessary to …
Surprise, Ariz. — Phoenix Commercial Advisors has arranged the $10.7 million sale of Grand Village Center, a 52,685-square-foot retail property located in Surprise, roughly 30 miles northwest of Phoenix. The center traded for $203 per square foot. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal. Built in 2005, Grand Village Center was 97 percent leased at the time of sale to a mix of tenants including Master Taco, Hungry Howie’s Pizza, Church for the Nations and Zona Communications. Elevate Trampoline Park anchors …
Springfield, Mass. — Atlantic Capital Partners has brokered the $10.2 million sale of Boston Commons, a 103,494-square-foot shopping center located in the western Massachusetts city of Springfield. Kohl’s anchors the property, which was 98 percent leased at the time of sale. Other tenants include CVS Pharmacy, Family Dollar and T-Mobile. Justin Smith, Chris Peterson, Danielle Turpin and Matt Ericson of Atlantic Capital Partners represented the seller in the transaction.
Victorville, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $4.6 million sale of a two-tenant retail property located in Victorville, approximately 35 miles north of San Bernardino. Located at 13720 Bear Valley Road, the 19,300-square-foot building was formerly occupied by Rite Aid and renovated in 2024. The property is currently leased to AutoZone and Dollar Tree on new 10-year triple-net leases and is situated within a Stater Bros.-anchored shopping center. Bill Asher and Kevin Fryman of Hanley Investment Group represented the seller, a Los Angeles-based private investor, in …
Lexington, S.C. — Marcus & Millichap has brokered the $3.7 million sale of 808 U.S. 378, a three-tenant retail property located in the Columbia suburb of Lexington. The 7,000-square-foot center is fully occupied by a nail salon, Lexington Modern Dentistry and My Pharmacy & Optical, and is situated adjacent to Hendrix Crossing, a Publix-anchored shopping center. Seth Goldberg, Alan Cafiero and Brent Hyldahl of Marcus & Millichap procured the buyer, a New Jersey-based private investor, in the transaction. Ben Yelm was the firm’s broker of record in South Carolina.
Salinas and Capitola, Calif. — Gantry has arranged $15.4 million in permanent loans to refinance two separately owned neighborhood retail properties located at different ends of the Monterey Bay region. Tom Dao and Jake Davis of Gantry represented the borrowers, both private real estate investors. The first property, Creek Bridge Village in Salinas, features 35,000 square feet of retail space and 17 apartments spread across five buildings. The 10-year, fixed-rate nonrecourse loan was secured from one of Gantry’s correspondent life company lenders and features a 30-year amortization. Gantry will service …
