WHITE PLAINS, N.Y. — Kempner Properties, an investment firm based in the New York City area, has purchased a portfolio of six shopping centers totaling 126,299 square feet in Connecticut and Rhode Island for $30.8 million. The Connecticut centers are located in Avon, Milford, Norwalk, Wallingford and Orange, while the Rhode Island center is located in Warwick. Town Fair Tire anchors the centers and accounts for 40 percent of the portfolio’s gross leasable space. Jeffrey Winokur of JH Winokur Inc. represented the seller, the estate of Town Fair Tire founder Neil Mellen, in the transaction. The portfolio was 92 percent leased at the time of sale.
ATLANTA — Jamestown has acquired a minority stake in Inman Quarter, a mixed-use development in Atlanta’s Inman Park district. The Atlanta-based company, best known for its placemaking and operation of developments like Ponce City Market, will own and operate Inman Quarter with TriBridge Residential, a multifamily owner/operator also based in Atlanta. The property includes approximately 40,000 square feet of retail space, 200 residential units and a 515-space parking deck. The retail component comprises popular restaurants and cafes, including MF Sushi, Little Spirit, bartaco and Beetlecat. The sales price and Jamestown’s stake amount at Inman Quarter were not disclosed.
HOUSTON — Marcus & Millichap has brokered the sale of a vacant 243-room hotel located at 9090 Southwest Freeway in southwest Houston. The property, which has been closed since 2019, was previously operated under one of the IHG Hotels & Resorts brands and offers amenities such as an indoor pool, outdoor sundeck, fitness center, business center, gift shop and a guest laundry room. Chris Gomes and Tulsee Nathu of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed.
LAREDO, TEXAS — Lee & Associates has negotiated multiple new leases at Emami Plaza, a 34,000-square-foot shopping center located in the Rio Grande Valley city of Laredo. Among the new tenants at the center are D1 Training (4,600 square feet), SaladWorks (2,000 square feet), Farmers Insurance (1,500 square feet) and Tribalance Chiropractic (1,500 square feet). The deals bring the newly constructed center to full occupancy. Enrique Volkmer of Lee & Associates negotiated the leases on behalf of the undisclosed landlord.
DENTON, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 22,300-square-foot industrial building in the North Texas city of Denton. According to LoopNet Inc., the single-story building at 9062 Teasley Lane was constructed on a 1.1-acre site in 1998. Hudson Springer and Jason Vitorino of STRIVE represented the seller in the transaction. Both parties were Texas-based entities that requested anonymity, as did the buyer’s representative.
SOUTH PORTLAND, MAINE — Newmark has brokered the $19.7 million sale of Mall Plaza, a 153,576-square-foot shopping center in South Portland. Mall Plaza is located across from The Maine Mall and was 83 percent leased at the time of sale, with Dick’s Sporting Goods serving as the anchor tenant and Petco as a junior anchor,. The center also features five pad sites, four of which are occupied by Burger King, Verizon, Maine Community Bank and Friendly’s. An entity doing business as GMG LLC sold the property to New Gen Hospitality Inc. Robert Griffin, Jonathan Martin, Paul Penman and Casey O’Brien of Newmark brokered the deal.
SEEKONK, MASS. — Locally based brokerage firm The Stubblebine Co. has arranged the sale of a 2.6-acre industrial outdoor storage (IOS) site in Seekonk, located near the Massachusetts-Rhode Island border. The site at 75 Mead St. houses a 17,500-square-foot building. Anawan Realty Inc. sold the property to Philadelphia-based Alterra IOS for an undisclosed price. Matty Drouillard and James Stubblebine of The Stubblebine Co. represented both parties in the transaction.
MANCHESTER, N.H. — Metro Boston-based investment firm The Grossman Cos. has acquired South Willow Shops, a 9,869-square-foot retail strip center in Manchester, located near the Massachusetts-New Hampshire border. Built in 1988, the center is home to tenants such as Hannoush Jewelers, Mattress Firm and Chipotle Mexican Grill. The seller was Linear Retail Properties. Bob Horvath of Horvath & Tremblay brokered the deal.
CARSON, CALIF. — KGJ Properties has completed the disposition of an industrial building located at 130 W. Victoria St. in Carson. Wookjin IS USA Inc. acquired the asset for $15.3 million. Brian Held and Robert Spratlin of CBRE represented the seller, while Brent Koo and Lex Yoo of CBRE represented the buyer in the deal. The 58,400-square-foot property offers multiple large ground-level loading doors and excess land for staging.
PHOENIX — Neighborhood Ventures (NV), a crowdfunding company, has acquired Venture on Colter, an apartment property in central Phoenix, from an undisclosed lender for $13 million. For the acquisition, NV raised nearly $4.5 million from 95 investors. Formerly known as Thom Slate on Colter, Ventura on Colter offers 123 apartments with modern cabinetry, fixtures, updated painting and new appliances. The community also offers two swimming pools and ramadas.