Acquisitions

Burlington Stores Sells 9.4-Acre Retail Property in Spokane, Washington for $10.2M

by Amy Works February 4, 2025

SPOKANE, WASH. — Burlington Stores Inc. has completed the disposition of a 9.4-acre retail property located at 5830 N. Division St. in Spokane. Burlington North LLC, a local development group led by Ben Hawkins and Kevin Edwards, acquired the two-building asset for $10.2 million. Totaling 175,612 square feet, the property consists of a Burlington-occupied, two-story 157,307-square-foot building with three loading docks and high clear heights, and a 17,305-square-foot building that is leased to Rite Aid. The Burlington store will relocate to a smaller space at Franklin Park Shopping Center in Spokane allowing for redevelopment options at the current site. Yohar Renaud, Kyle Herting and Sydney Dixon of CBRE represented the seller in the deal.

February 4, 2025

Acquisitions Colorado Retail Western

Cushman & Wakefield Negotiates Sale of 49,331 SF Virginia Village Shopping Center in Denver

by Amy Works February 4, 2025

DENVER — Cushman & Wakefield has arranged the sale of Virginia Village Shopping Center, a neighborhood shopping center located at South Holly Street and East Florida Avenue in southeast Denver. A Denver-based private partnership acquired the property from Denver-based Virginia Village Associates LTD for an undisclosed price. Originally built in 1957 and most recently renovated in 2020, Virginia Village Shopping Center offers 49,331 square feet of retail space. At the time of sale, the property was 80 percent leased to 11 tenants. Offering 265 parking spaces, the asset is situated on nearly 5 acres at 1417-1495 S. Holly St. and 5595 E. Florida Ave. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the transaction.

February 4, 2025

Acquisitions Colorado Retail Western

Marcus & Millichap Arranges $4M Sale of Net-Leased Retail Building in Castle Pines, Colorado

by Amy Works February 4, 2025

CASTLE PINES, COLO. — Marcus & Millichap has arranged the sale of a net-leased retail property located at 7282 Lagae Road in Castle Pines. An Arizona-based developer/limited liability company sold the asset to a Colorado-based private investor for $4 million. Service Street Auto Repair occupies the 4,488-square-foot building under a 20-year absolute triple-net lease. The property is situated near the Castle Rock Promenade & Outlets and a King Soopers Center. Drew Isaac and James Rassenfoss of Marcus & Millichap represented the seller in the deal.

February 4, 2025

Acquisitions Industrial Oregon Western

Norris & Stevens Brokers $2.3M Sale of Manufacturing Building in Portland, Oregon

by Amy Works February 4, 2025

PORTLAND, ORE. — Norris & Stevens has arranged the sale an industrial manufacturing/storage facility at 9348 N. Peninsular Ave. in Portland. Anlekus LLC acquired the asset from Miscoe Properties LLC for $2.3 million. Originally constructed in 1932 with additions in the 1950s and 1970s, the property consists of a main industrial building, a maintenance building and two separate outbuildings totaling 75,000 square feet. Formerly used for food production and storage, the asset features six loading docks, one drive-in door, 18- to 20-foot clear heights and a large office area. Greg Nesting of Portland-based Norris & Stevens represented the buyer and seller in the transaction.

February 4, 2025

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale of 263,230 SF Industrial Facility in Indianapolis

by Kristin Harlow February 4, 2025

INDIANAPOLIS — Colliers has brokered the sale of a 263,230-square-foot industrial facility in Indianapolis for an undisclosed price. The fully leased property sits on 13.5 acres within the Stout Field Industrial Park and provides immediate access to I-70. The building features 24 truck docks, clear heights ranging from 21 to 35 feet, heavy industrial zoning, four acres of excess ground for expansion or outside storage, 30,000 square feet of freezer space, rooftop solar panels and rail service with nine loading docks. Alex Cantu, Alex Davenport, Tyler Wilson and Mike Lubbers of Colliers represented the seller, The O’Donnell Group Inc. Cleveland-based The Realife Management Group was the buyer.

February 4, 2025

Acquisitions Northeast Pennsylvania Retail

Palomar Group Negotiates Sale of 221,157 SF Shopping Center in South Philadelphia

by Taylor Williams February 4, 2025

PHILADELPHIA — The Palomar Group, a Georgia-based brokerage firm, has negotiated the sale of a 221,157-square-foot shopping center in South Philadelphia. The grocery-anchored property is known as the South Philadelphia Shopping Center and is home to tenants such as ShopRite, Ross Dress for Less, Five Below, Burger King, Sherwin-Williams, Dunkin’ and Aaron’s. Palomar represented the seller, a publicly traded REIT, in the transaction. The buyer was a New York-based investor. Both parties requested anonymity.

February 4, 2025

Acquisitions Massachusetts Northeast Retail

CBRE Brokers Sale of 38,000 SF Shopping Center in Woburn, Massachusetts

by Taylor Williams February 4, 2025

WOBURN, MASS. — CBRE has brokered the sale of a 38,000-square-foot shopping center located at 99-103 Commerce Way in Woburn, a northern suburb of Boston. Known as MetroNorth Shopping Center, the property houses tenants such as Petco, The Vitamin Shoppe, Gardner Mattress, Pediatrics Urgent Care and Starbucks Coffee. Nat Heald and Jordana Roet of CBRE represented the undisclosed seller and procured the buyer, Calare Properties, in the transaction. Kyle Juszczyszyn and Matt Machiros, also with CBRE, arranged an undisclosed amount of acquisition financing for the deal.

February 4, 2025

Acquisitions Georgia Industrial Southeast

The Home Depot Purchases 1.4 MSF Distribution Center in Savannah

by John Nelson February 3, 2025

SAVANNAH, GA. — The Home Depot has acquired its own 1.4 million-square-foot The Home Depot Distribution Center (DC) from the Savannah Economic Development Authority (SEDA). The facility is situated near the Port of Savannah. The sales price was not disclosed. SEDA has leased the center to The Home Depot since 1995. The acquisition includes 100 acres of adjacent land. The Home Depot DC supports hundreds of The Home Depot stores and typically employs around 250 associates. “This sale signals a significant, long-term commitment by The Home Depot to our region and the Georgia Ports Authority,” says Trip Tollison, president and CEO of SEDA. “We are honored that they continue to have great confidence in the Savannah region.”

February 3, 2025

Acquisitions Florida Seniors Housing Southeast

JLL Brokers Sale of 283-Unit Senior Living Campus in Wellington, Florida

by John Nelson February 3, 2025

WELLINGTON, FLA. — JLL Capital Markets has arranged the sale of Wellington Bay, a 283-unit senior living campus located in Wellington, approximately 16 miles west of West Palm Beach. The 45-acre property features a 159-unit independent living community and The Lisbet Health Center, which comprises 124 assisted living and memory care residences. Amenities at the campus include a 65,000-square-foot clubhouse with dining, outdoor and indoor swimming pools, a hot tub, putting green, bocce ball court, pickleball court and fitness, wellness, concierge, arts and entertainment programming. AEW Capital Management acquired the property from an undisclosed buyer. JLL’s Seniors Housing Capital Markets team represented the seller in the transaction and secured a three-year acquisition loan through Capital One Bank on behalf of the buyer.

February 3, 2025

Acquisitions Florida Industrial Southeast

Cushman & Wakefield Arranges $42M Sale of Warehouse in Titusville, Florida

by John Nelson February 3, 2025

TITUSVILLE, FLA. — Cushman & Wakefield has arranged the $42.2 million sale of Titusville Logistics Center, a Class A warehouse in Titusville. Located at 7700 US Highway 1 roughly 35 miles east of Orlando, the facility totals 247,069 square feet and was fully leased at the time of sale. The facility features a tilt-wall construction design with dock-high and drive-in loading doors, 30-foot clear heights, a 130-foot truck court and the potential for rail-side access. Houston-based Hines acquired the property via its core-plus fund, Hines U.S. Property Partners, from Reich Brothers. Mike Davis, Rick Colon, Rick Brugge and Dominic Montazemi of Cushman & Wakefield represented the seller in the transaction. Hines has retained Mike Moss and Michael Moss II of Lightle Beckner Robison Inc., who also assisted in brokering the sale, to continue leasing the property.

February 3, 2025

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