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FloridaGrocery-anchoredInvestment salesNews

TSCG Brokers $8.4 Million Sale of Publix-Anchored Center in Fort Walton Beach, Florida

by Abby Cox

Fort Walton Beach, Fla. — TSCG has brokered the $8.4 million sale of The Shoppes at Paradise Pointe, a Publix-anchored shopping center located at U.S. Highway 98 and Perry Avenue Southeast in Fort Walton Beach. The 73,416-square-foot property sits at the mainland approach to Brooks Bridge, which connects Fort Walton Beach to Okaloosa Island. Anthony Blanco of TSCG represented the seller, SITE Centers Corp., in the transaction. The buyer was an undisclosed private investor. Built in 1987, The Shoppes at Paradise Pointe was 82.5 percent leased at the time of sale …

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Capital-Commercial-Center
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $7 Million Sale of Retail Center in San Jose, California

by Abby Cox

San Jose, Calif. — Marcus & Millichap has arranged the $7 million sale of Capital Commercial Center, a 14,479-square-foot retail property located in San Jose. Steve Sauter of Marcus & Millichap represented the seller, an undisclosed partnership, while Bryan DiMesio and Scott Ferguson of Marcus & Millichap represented the buyer, a California-based limited liability company, in the transaction. Built in 1988 on a 1.1-acre parcel, Capital Commercial Center is fully leased to nine tenants under triple-net leases with an average occupancy tenure of more than 11 years.

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Jewelers
IllinoisInvestment salesNews

TEI Acquires Retail Property on Jeweler’s Row in Chicago for $3.9 Million

by Abby Cox

Chicago — Time Equities Inc. (TEI) has acquired 33 South Wabash Ave. in Chicago for $3.9 million. Located in the heart of the South Loop along historic Jeweler’s Row, the property offers 38 feet of frontage on Wabash Avenue at the base of a 360-unit luxury condominium building, which is also home to the School of the Art Institute of Chicago. Currently fully leased, the 7,400-square-foot, three-unit retail property is home to Goddess & The Baker, Reckless Records and Prasino. Ami Ziff and Jonathan Kim represented TEI on an internal …

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1560 N. Damen Ave.
IllinoisInvestment salesMixed-useNews

Greenstone Partners Negotiates $3.2 Million Sale of Mixed-Use Building in Chicago

by Abby Cox

Chicago — Greenstone Partners has negotiated the $3.2 million sale of 1560 N. Damen Ave., a 4,650-square-foot mixed-used building located in Chicago’s Wicker Park neighborhood. The three-story property features ground-floor retail space anchored by regional bakery Stan’s Donuts & Coffee. The second and third floors are occupied by recently renovated three-bedroom apartments. Danny Spitz and Brewster Hague of Greenstone represented the seller and procured the private buyer in the transaction.

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Trustmark
AlabamaFloridaInvestment salesNewsTennesseeTexas

JLL Arranges $91.7 Million Sale-Leaseback of Retail Bank Portfolio Spanning Five States

by Abby Cox

Chicago — JLL Capital Markets has arranged the $91.7 million sale-leaseback of 34 retail bank branches occupied by Trustmark Bank, spanning five states across the Southeast. The 222,037-square-foot portfolio includes 15-year absolute triple-net leaseback agreements featuring 1.5 percent annual rent increases. The portfolio is predominantly located in Mississippi, alongside locations in Florida’s Gulf Coast; Memphis, Tennessee; Houston, Texas; and Montgomery and Huntsville, Alabama. Trustmark will continue to operate branches at each of the locations with no changes to its products or service offerings. JLL’s Chicago-based Corporate Capital Markets and Net Lease …

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lakewood-center-homedepot-albertsons
CaliforniaInvestment salesNews

Faris Lee Brokers $38.7 Million Sale of Two Retail Properties at Lakewood Center in California

by Abby Cox

Lakewood, Calif. — Faris Lee Investments has brokered the $38.7 million sale of two retail properties located within Lakewood Center, a 2 million-square-foot shopping center situated roughly 23 miles southeast of Los Angeles. The buildings, which total nearly 155,000 square feet, are occupied by Albertsons and The Home Depot. Both tenants have operated at the center for more than 30 years. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller, a consortium of multiple owners, and the buyer, a high net-worth family office, in …

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eastland-promenade
Investment salesNewsNorth Carolina

Marcus & Millichap Brokers $6 Million Sale of Retail Strip Center in Charlotte, North Carolina

by Abby Cox

Charlotte, N.C. — Marcus & Millichap has brokered the $6 million sale of Eastland Promenade, a 26,615-square-foot retail strip center located in Charlotte. Built in 1988, the property features 10 retail suites and was fully occupied at the time of sale by a mix of local businesses, restaurants and service-oriented tenants. Eastland Promenade is situated adjacent to Eastland Yards, an 80-acre mixed-use project underway. Kyle Carpentier, Andrew Margulies and Harrison Creason of Marcus & Millichap marketed the property on behalf of the seller, a local family ownership group, and procured the …

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Clovis-CFA
CaliforniaInvestment salesNews

SRS Real Estate Negotiates $4.7 Million Ground-Lease Sale of Single-Tenant Restaurant Property Near Fresno, California

by Abby Cox

Clovis, Calif. — SRS Real Estate Partners has negotiated the $4.7 million ground-lease sale of a newly developed, single-tenant restaurant property located in Clovis, roughly eight miles west of Fresno. Chick-fil-A occupies the 4,847-square-foot building, which is situated near California State University, on a 15-year absolute triple-net lease. Alexander Moore of SRS Real Estate represented the seller, a San Franciso Bay Area-based investor, in the transaction. The buyer was a Central Valley-based private investor.

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watauga-village
Grocery-anchoredInvestment salesNewsNorth Carolina

Orion Buys Food Lion-Anchored Center in Northwestern North Carolina for $26 Million

by Abby Cox

Boone, N.C. — Miami-based Orion Real Estate Group has acquired Watauga Village, an 88,800-square-foot neighborhood center located in the northwestern North Carolina city of Boone. Food Lion anchors the property, which was fully leased at the time of sale. Additional tenants include Michaels, Mercy Urgent Care, Spectrum, Tropical Smoothie Café and Wingstop.   Orion currently owns or manages an additional 23 properties totaling 101,583 square feet throughout North Carolina, which are all single-tenant, triple-net properties. Watauga Village is the firm’s first shopping center acquisition in the state. Adam Russ, Erin Varol …

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Pacific View Mall
CaliforniaInvestment salesNews

PRCP, Conversant Purchase 884,000-Square-Foot Pacific View Mall in Southern California

by Abby Cox

Ventura, Calif. — A joint venture between Pacific Retail Capital Partners (PRCP) and Conversant Capital LLC has acquired Pacific View Mall, an 884,000-square-foot super-regional shopping center located in Ventura, about 30 miles northwest of Santa Barbara. Originally opened in 1964 and renovated in 2017, Pacific View Mall features a mix of more than 130 national retailers such as Target, Macy’s, JCPenney, Sephora, Ross Dress for Less, Victoria’s Secret, Trader Joe’s and 24 Hour Fitness. The two-story property also comprises an 11-option food-court and dining destination including Wood Ranch, Red Robin and …

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