GALVESTON, TEXAS — JLL has negotiated the sale of The Plaza at Galveston Island, a 151,905-square-foot shopping center located southeast of Houston. Built in 1970, the property was 84.5 percent leased at the time of sale to tenants such as Dollar Tree, Ross Dress for Less, Five Below, Beall’s Outlet, UPS, AT&T and Whataburger. Ryan West and John Indelli of JLL represented the seller, Harold A. Clark & Co., in the transaction. The sales price was not disclosed.
CHICAGO — Marcus & Millichap has brokered the sale of Kedzie Plaza in Chicago for $5.2 million. The 73,876-square-foot retail property is located at 4725 S. Kedzie Ave. Tenants include Dunkin’, Metro by T-Mobile, Subway, Domino’s and Sally Beauty. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the buyer, a local private investor. Seller information was not provided.
PERU, ILL. — Cawley Chicago has arranged the sale of a 52-acre truck terminal property in Peru, a city in Central Illinois. The sales price was undisclosed. Located at 5005 Plank Road, the property consists of 27 acres of heavy-duty parking, a terminal building with 146 docks, 10,000 square feet of office space and a 9,600-square-foot mechanic’s shop with six drive-through bays. Originally developed by Consolidated Freight, the asset has been in continuous operation by various less-than-truckload (LTL) companies. LTL is a ground transportation method that consolidates multiple shippers’ freight onto single semi-trucks. Jon Chamlin, Joshua Hearne and Reinier Pranger of Cawley Chicago brokered the sale, further details of which were not provided.
CHICAGO — SVN Chicago Commercial has negotiated the sale of the former MK restaurant property in Chicago’s River North neighborhood for $2.6 million. The buyer plans to redevelop the 9,600-square-foot building, which is located at 868 N. Franklin St. Marcus Cook of SVN Chicago represented the buyer, while colleagues Wayne Caplan and Michael Elam represented the seller, a Los Angeles-based investment firm.
CENTENNIAL, COLO. — Unique Properties, Inc. / TCN Worldwide has arranged the $3.1 million sale of a 12,600-square-foot warehouse in Centennial, approximately 15 miles south of Denver. The nearly four-acre space is located at 14156 and 14105 E. Easter Ave. The site primarily consists of outdoor material, truck and equipment storage. Keesen Landscape, a commercial landscaping company, fully occupies the property on long-term, triple-net lease. Brett MacDougall and Michael DeSantis and Hudson Cramer with Unique Properties, Inc. / TCN Worldwide represented the unnamed seller. The buyer was also not disclosed.
SHELTON, CONN. — Los Angeles-based GreenLake Asset Management has provided $34.4 million in financing for Fountain Square, a shopping center that is under development in Shelton, located in Connecticut’s Fairfield County. The undisclosed sponsor will use the proceeds to refinance the property’s existing debt, including more than 60 liens from vendors, as well as to buy out the existing ownership and resume construction. Tenants that have already committed to Fountain Square include Chick-fil-A, Panera Bread and Taco Bell.
DENVILLE, N.J. — NAI Hanson has brokered the sale of a 9,560-square-foot industrial flex building in the Northern New Jersey community of Denville. According to LoopNet Inc., the single-tenant property at 305 Palmer Road was built in 1981 and renovated in 1988. Joseph Vindigni of NAI Hanson represented the seller, Venturini Investments Group, in the deal. Charity Realty International represented the buyer, Groome Industrial Service Group.
MARIETTA, GA. — JLL Capital Markets has brokered the sale of Merchant’s Festival, a 53,559-square-foot retail center located at 1401 Johnson Ferry Road in Marietta, roughly 20 miles northwest of Atlanta. Target shadow-anchors the center. Jim Hamilton, Brad Buchanan and Anton Serafini of JLL represented the seller, a real estate fund advised by Crow Holdings Capital. Last Mile Investments acquired the property for an undisclosed price. Tenants at Merchant’s Festival, which was 85 percent leased at the time of sale, include Which Wich, Leslie’s Swimming Pool Supplies, Verizon Wiresless, Orangetheory Fitness, Pearle Vision Express and Learning Express Gifts.
CHICAGO — Interra Realty has brokered the sale of a 16-unit multifamily property in Chicago’s Logan Square neighborhood for $6.1 million. Located at 2543 N. California Ave., the building was constructed in 1902 and renovated in 2018. There are eight two-bedroom units, five three-bedroom units, one four-bedroom layout and two commercial spaces. Starbucks has been a long-term tenant in one of the commercial spaces. Brad Feldman of Interra represented the seller, Chicago-based Barnett Capital Ltd. Feldman also represented the local private buyer.
SALEM, OHIO — The Cooper Commercial Investment Group has arranged the $2 million sale of Salem Market Place in Salem, a city in Northeast Ohio. Tenants at the 16,252-square-foot property include Super Cuts, Sally Beauty Supply, GameStop, Little Caesar’s, Gadget Lab, Alternative Smokes, Hibachi Express and Drayer Physical Therapy. The center is 83 percent occupied. Dan Cooper and Bob Havasi of Cooper Group represented the seller, a West Coast-based investor. The sales price represented a cap rate of 7.73 percent and approximately 98 percent of the list price.