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Terra-Nova
CaliforniaInvestment salesNews

JLL Arranges $30.4 Million Sale of 96,114-Square-Foot Retail Center in Metro San Diego

by Abby Cox

Chula Vista, Calif. — JLL has arranged the $30.4 million sale of Terra Nova Plaza, a 96,114-square-foot retail center located in Chula Vista, roughly eight miles south of downtown San Diego. The center, which was fully leased at the time of sale, is occupied by a 44,477-square-foot Dick’s Sporting Goods and a 51,637-square-foot Floor & Décor store. Terra Nova Plaza is situated within a larger 301,000-square-foot, grocery-anchored regional shopping center that features a mix of tenants including Smart & Final, CVS/pharmacy, Marshalls, Chase Bank, Taco Bell, Jack in the Box and …

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amberwood-plaza
Investment salesNewsOhio

Prudent Growth Partners Purchases Amberwood Plaza in Ashland, Ohio, for $3.5 Million

by Abby Cox

Ashland, Ohio — Prudent Growth Partners has purchased Amberwood Plaza, a 25,400-square-foot neighborhood center located in the north-central Ohio city of Ashland for $3.5 million. Constructed in 2006, Amberwood Plaza was 94 percent leased to 10 tenants at the time of sale including Tacos and Tequila and Verizon Wireless. More than 28 percent of the center has been occupied by the same tenants for over 15 years.

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Baybury-Square-Shopping-Center
Investment salesNewsTexas

Marcus & Millichap Negotiates Sale of Baybury Square Shopping Center Portfolio in Metro Dallas

by Abby Cox

Richardson, Texas — Marcus & Millichap has negotiated the sale of Baybury Square Shopping Center, a 51,542-square-foot retail portfolio located in Richardson, about 14 miles north of downtown Dallas. Built in 1966, the portfolio includes two multi-tenant shopping centers and two freestanding buildings situated on nearly 11 acres. The property was approximately 64 percent leased at the time of sale. Philip Levy and Scott Abeel of Marcus & Millichap marketed the property on behalf of the seller, an out-of-state private investor, and procured the buyer, a local real estate developer. The buyer plans …

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S-Coast-Hwy-101-1
CaliforniaInvestment salesNews

RPG Acquires 4,939-Square-Foot Multi-Tenant Retail Property in Suburban San Diego

by Abby Cox

Encinitas, Calif. — RPG has acquired a 4,939-square-foot multi-tenant retail property located in Encinitas, roughly 25 miles north of downtown San Diego. The building was fully leased at the time of sale to five tenants including three retail shops and two restaurants. The seller and terms of the transaction were not released.

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Townridge-Shopping-Center
FinanceInvestment salesNewsNorth Carolina

ACD Acquires Townridge Shopping Center in Raleigh, North Carolina, for $36 Million

by Abby Cox

Raleigh, N.C. — Armstrong Capital Development (ACD) has acquired Townridge Shopping Center, a 273,105-square-foot retail property located in Raleigh. Walmart and Planet Fitness anchor the center, which was 96 percent leased at the time of sale. Other tenants include Chipotle Mexican Grill, Advance Auto Parts, Cato, AT&T, Burger King, Edible Arrangements and Papa Johns Pizza, according to LoopNet Inc. The property features five buildings at Townridge Shopping Center, along with a single building at the adjacent Village at Townridge, that function together as a unified commercial site. Tom Kolarczyk, Michael Nieder …

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D&W Fresh Market
Investment salesMichiganNews

SRS Real Estate Negotiates $6.9 Million Sale of Single-Tenant Grocery Property in Kalamazoo, Michigan

by Abby Cox

Kalamazoo, Mich. — SRS Real Estate Partners has negotiated the $6.9 million sale of a single-tenant grocery property located in Kalamazoo. D&W Fresh Market occupies the 29,000-square-foot building on a corporate-guaranteed absolute triple-net lease. The current lease extends through 2031 and includes three five-year renewal options. The building was originally built in 1955.   Jeff Gates of SRS represented the seller, a Toronto-based investor group, in the transaction.  The buyer was an institutional investor. 

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peets-coffee
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $5 Million Sale of Single-Tenant Retail Property in Alameda, California

by Abby Cox

Alameda, Calif. — Marcus & Millichap has arranged the $5 million sale of a single-tenant retail property located in the Bay Area city of Alameda. Peet’s Coffee & Tea occupies the 3,000-square-foot building on a 10-year lease with annual rent increases. Mark Mason of Marcus & Millichap procured the buyer, a California-based private corporate trust. Brandon Norton and David Lucas of Monarch Commercial Advisors represented the seller, a California-based add-value private client.

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CaliforniaNew JerseyNewsRetailers

Spencer Spirit Holdings to Acquire Hot Topic, Expanding to More Than 3,000 Stores

by Abby Cox

City of Industry, Calif. and Egg Harbor Township, N.J. — Spencer Spirit Holdings has signed a definitive agreement with Sycamore Partners to acquire Hot Topic and its portfolio of brands: Hot Topic, BoxLunch and Her Universe. The transaction unites six complementary retail concepts under one umbrella, expanding the combined company’s total footprint to more than 3,000 stores across North America. After closing, Hot Topic, BoxLunch and Her Universe will continue to operate independently from the Spencer Spirit business and maintain their existing headquarters in California. The transaction, which is subject to customary …

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Newmans-Crossing
Grocery-anchoredInvestment salesNewsTennessee

Blackwater Real Estate Sells 63,987-Square-Foot, Grocery-Anchored Center in Metro Nashville, Tennessee

by Abby Cox

Gallatin, Tenn. — Blackwater Real Estate has sold Newmans Crossing, a 63,987-square-foot retail center located in Gallatin, approximately 30 miles northeast of Nashville. Built in 2022 and 2023, the fully leased property is anchored by a 48,387-square-foot Publix. Additional tenants include Agaves Mexican Restaurant, Kung Fu Tea, Ichiban Steak Express, Fowler Family Dentist, Galaxy Nail Bar and Crown & Iris. Jim Hamilton, Brad Buchanan and Charlie Merrigan of JLL represented Blackwater Real Estate in the transaction. Publix purchased the property for an undisclosed price.

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Park-Plaza
Investment salesNew JerseyNews

Marcus & Millichap Brokers $14.7 Million Sale of Retail Center in Central New Jersey

by Abby Cox

Matawan, N.J. — Marcus & Millichap has brokered the $14.7 million sale of Park Plaza, a 61,750-square-foot retail center located in Matawan, approximately 40 miles south of Manhattan. Built in 1986, the property features 20 retail suites and a mix of dining, lifestyle and service-oriented tenants, including a Dunkin’ with a drive-thru. Seth Goldberg, Brent Hyldahl and Alan Cafiero of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both private investors from New Jersey. 

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