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Hilliard-Rome-Commons
Investment salesNewsOhio

CASTO Acquires Power Center in Metro Columbus, Ohio, for $20.5 Million

by Abby Cox

Hillard, Ohio — CASTO has acquired Hilliard Rome Commons, a 106,922-square-foot power center located in Hillard, approximately 10 miles northwest of Columbus, for $20.5 million. Michael Nieder and Brian Page of JLL Capital Markets represented the seller, RCG Ventures, in the transaction. Built in 2002, Hilliard Rome Commons was fully leased at the time of sale to tenants including Burlington, HomeGoods, Ulta Beauty, pOpshelf, Buffalo Wild Wings and Bank of America, which is situated on a separate outparcel.

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FinanceMissouriNews

CBL Properties Receives $135 Million Refinancing for St. Louis Mall

by Abby Cox

St. Louis — CBL Properties has received a $135 million refinancing of its mortgage loan for West County Center, a 1.2 million-square-foot regional mall located in St. Louis. The new loan, which replaces an existing $136.4 million loan that was scheduled to mature in December, carries a five-year term with a fixed interest rate of 7.4 percent.  After repayment of the maturing loan and the release of existing escrow balances, CBL received roughly $2 million in net proceeds from the new financing. The financing also removes the cash management sweep associated …

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Douglassville-Retail-Portfolio
Investment salesNewsPennsylvania

Marcus & Millichap Negotiates $10 Million Sale of Retail Portfolio in Eastern Pennsylvania

by Abby Cox

Douglassville, Pa. — Marcus & Millichap has negotiated the $10 million sale of a retail portfolio located in Douglassville, roughly 40 miles northwest of Philadelphia. The portfolio, which spans 48,736 square feet, includes two retail strip centers, three freestanding pads and a nearly 2-acre development site. The strip centers are fully leased, while Dollar Tree, Chase Bank and Michael’s Restaurant occupy the three freestanding properties.   Colin Reder and Derrick Dougherty of Marcus & Millichap represented the seller, the family of the original developer, and procured the buyer, a Philadelphia-based company.

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Unified-Dental-Care
Investment salesMichiganNews

CrownPoint Arranges $9.2 Million Sale-Leaseback of Dental Portfolio in Michigan

by Abby Cox

Lansing, Mich. — CrownPoint Partners has arranged the $9.2 million sale-leaseback of a five-property dental portfolio located across lower Michigan. CrownPoint represented both the seller and buyer in the transaction. The transaction was structured with new 15-year absolute-net leases featuring 2 percent annual rent increases, providing the buyer with long-term contractual income and no landlord responsibilities. The portfolio spans established healthcare and retail corridors throughout Michigan and serves combined trade areas encompassing more than 1.6 million residents. The portfolio consists of five dental properties totaling 35,212 square feet across Lansing, …

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block-37
IllinoisInvestment salesNews

Newmark Arranges $30 Million Sale of Trophy Retail Property in Downtown Chicago

by Abby Cox

Chicago — Newmark has arranged the $30 million sale of Block 37, a 277,654-square-foot trophy retail property located in downtown Chicago. Block 37 comprises five floors of retail space anchored by a mix of tenants including Zara, Sephora, AMC Theatres and The Dearborn, and a four-level underground parking garage. The property is situated within the larger Block 37 mixed-use development that also features residential and office towers. Keely Polczynski and Brian Schneiderman of Newmark represented the seller, CIM Group, in the transaction.

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SouthCoast has acquired Sweet Apple Village, a 62,390-square-foot shopping center located in Roswell, Georgia, for $20.3 million.
GeorgiaInvestment salesNews

Matthews Brokers $20.3 Million Sale of 62,390-Square-Foot Sweet Apple Village in Metro Atlanta

by Abby Cox

Roswell, Ga. — Matthews has brokered the $20.3 million sale of Sweet Apple Village, a 62,390-square-foot shopping center located in Roswell, roughly 22 miles north of downtown Atlanta. The transaction marked the highest retail sales price in the Roswell/Alpharetta submarket in four years and the property’s first sale in 15 years. Jeff Enck, Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews internally represented the seller and sourced the buyer, SouthCoast, in the transaction. Sweet Apple Village was 98.2 percent leased at the time of sale to a mix of tenants including …

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Hylo-Park-South-NLV-NV
DevelopmentGrocery-anchoredMixed-useNevadaNews

Agora Realty Breaks Ground on $375 Million Final Phase of Mixed-Use Entertainment Project in North Las Vegas

by Abby Cox

North Las Vegas, Nev. — Agora Realty has broken ground on the third and final phase of Hylo Park, a 73-acre mixed-use entertainment project in North Las Vegas. Upon completion, the $375 million, 25-acre final phase will include a 250,000-square-foot multi-sport indoor field house; an existing multi-sport arena; outdoor public space; a community field; shops and restaurants; a family entertainment center; and a 177-key Hilton Embassy Suites hotel. Completion is slated for late 2027. Additional phases of the development include Hylo Park South, a 90,750-square-foot grocery-anchored retail center that was completed …

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Airpark-Plaza_Miami_Publix
FloridaGrocery-anchoredInvestment salesNews

First Washington Realty Sells Two Miami Shopping Centers to Publix Super Markets

by Abby Cox

Miami — First Washington Realty (FWR), a shopping center owner-operator based in Bethesda, Maryland, has sold two Publix-anchored shopping centers in Miami to Publix Super Markets Inc. The sales price was not disclosed. The properties include Airpark Plaza, a 171,443-square-foot shopping center near Miami International Airport at 5715 N.W. 7th St.; and The Shoppes at Quail Roost, a 73,550-square-foot center located at 20201 S.W. 127th Ave. on the city’s south side. Both properties were fully leased at the time of sale.

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Shops at Edgwater
CaliforniaInvestment salesNews

JLL Negotiates $9.5 Million Sale of Shops at Edgewater in Sand City, California

by Abby Cox

Sand City, Calif. — JLL Capital Markets has negotiated the $9.5 million sale of the Shops at Edgewater, a 25,223-square-foot retail center located at 2080 California Ave. in Sand City.  The fully leased property is occupied by Ulta Beauty, Panera Bread, Mancini’s Sleepworld and a Bank of America ATM. The Shops at Edgewater is also shadow anchored by Target, Ross Dress for Less and Lucky. Eric Kathrein, Andrew Spangenberg and Allie Repaskey of JLL represented the private seller in the transaction. An entity doing business as Sand City Holdings LLC was …

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Eos-Fort-Myers
FloridaInvestment salesNews

SRS Real Estate Arranges $14.3 Million Sale of Single-Tenant Retail Property in Fort Myers, Florida

by Abby Cox

Fort Myers, Fla. —SRSReal Estate Partners has arranged the $14.3 million sale of a single-tenant retail property located at 10560 Colonial Blvd. in Fort Myers. Eōs Fitness occupies the 42,500-square-foot building on a 20-year absolute triple-net, corporate-guaranteed lease. Patrick Nutt and William Wamble of SRS Real Estate represented the seller, a Florida-based developer, in the transaction. The buyer was a Florida-based investor completing a 1031 exchange.

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