RICHLANDS, VA. — Marcus & Millichap has brokered the $4.4 million sale of Brickyard Shopping Center, an 86,246-square-foot retail center located at 114 Kents Ridge Road in Richlands, a city in western Virginia. Zachary Taylor and Eric Abbott of Marcus & Millichap’s Atlanta office represented the seller, an unnamed developer, in the transaction. Dean Zang and David Crotts of the firm’s Washington, D.C., office procured the buyer, a private investor. Brian Hosey served as Marcus & Millichap’s broker of record in Virginia for the transaction. Built in 1989, Brickyard was 75 percent leased at the time of sale to its original anchor tenants, Food Lion and Big Lots. Food Lion is the sole national grocery store in Richlands, and there is only one other anchored shopping center in the area, according to Marcus & Millichap.
COSTA MESA, CALIF. — Continental Realty Corp. (CRC) has entered the California market with the acquisition of South Coast Collection (SoCo), a lifestyle retail center focused on home furnishing and design in the Orange County city of Costa Mesa. CRC purchased SoCo with funds from Continental Realty Opportunistic Retail Fund I, a closed-end fund for which $261 million has been raised since 2021. Constructed in 2007 on 20 acres, SoCo features 292,000 square feet of retail space. At the time of sale, the property was 97 percent leased to 60 tenants. Current tenants include COCO Republic, Design Within Reach, Roche Bobois, Pirch, Paul Mitchell the School, Brown Jordan, Natuzzi Italia, Room & Board, Arc Food and Libations, Butcher’s House, Greenleaf Kitchen & Cocktails, Moulin, Paragon and Portola Coffee. SoCo also features The OC Mix, a 15,000-square-foot shopping and dining space with more than 20 sit-down restaurants, coffee shops and quick-service restaurants, as well as a fine cheese retailer and an art gallery. Christopher Hoffman, Mark Damiani of Eastdil Secured represented the undisclosed seller in the deal. Terms of the transaction were not released.
WAXAHACHIE, TEXAS — Wan Bridge, a Texas-based owner-operator, has completed Sonata Estates, a 127-unit build-to-rent residential project in Waxahachie, a southern suburb of Dallas. The development houses three- to four-bedroom townhomes that range in size from 1,612 to 1,854 square feet. Amenities include a pool and splash pad, playground, outdoor sports courts, covered picnic areas and baseball fields. Residents also have access to onsite maintenance services and a walking path that connects to a nearby park. Rents start at $2,250 per month.
UNION CITY, CALIF. — Transwestern Real Estate Services has arranged the sale of Summerhill Place Apartments, a multifamily property in Union City, located between Oakland and San Jose. An undisclosed seller sold the asset to Interstate Equities Corp. for $15 million, or $250,000 per unit. Located at 3900 Horner St., Summerhill Place was built in 1986 and originally acquired by the seller in 1993. The property features 60 one- and two-bedroom apartments. Community amenities include ample parking, onsite laundry and a pool. Shivu Srinivasan of Transwestern handled the transaction.
PEORIA, ARIZ. — CBRE has arranged the $12.7 million sale of Arrowhead Ranch Business Park, located at 21461-21509 N. 78th Ave in the Phoenix suburb of Peoria. Pacifica Real Estate Group sold the asset to a California-based private buyer in a 1031 exchange. Situated on 9.5 acres, the six-building business park features 18 suites, each with its own private secured yard. The transaction included 11 of the 18 units within the park, totaling nearly 50,000 square feet. Geoffrey Turbow, Gary Cornish, Anthony DeLorenzo and Nick Williams of CBRE Investment Properties, alongside CBRE’s Evan Koplan and Serena Wedlich, represented the seller in the transaction.
RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners has brokered the sale of a 21,918-square-foot retail property located at 10582 Foothill Blvd. in the Inland Empire city of Rancho Cucamonga. A Michigan-based private investor sold the asset to a San Gabriel Valley-based private investor for $7.4 million in an all-cash transaction. Part of the 645,000-square-foot Terra Vista Town Center, the nine-tenant retail building was fully occupied at the time of sale. Current tenants include multiple beauty service providers, a jeweler, an escape room and a children’s indoor playground. All leases are triple net with staggered lease expirations, embedded annual rent increases and below-market rents. Greg Bedell and Paul Su of Progressive Real Estate Partners represented the seller, while Raymond Ho with GE Property represented the buyer in the deal.
AUSTIN, TEXAS — CBRE has arranged the sale of West Side Village, a 51,392-square-foot retail property located along West 6th Street near downtown Austin. The building, which was constructed on 1.7 acres in 1951, is currently vacant and has redevelopment potential, according to the brokerage team. Brad Bailey and Logan Reichle of CBRE represented the seller, a joint venture between Stonelake Capital Partners and Schlosser Development, in the transaction. The buyer was Austin-based investment firm Riverside.
ABERDEEN, WASH. — Marcus & Millichap has negotiated the sale of ABC Mini Storage, a self-storage facility at 6221 Olympic Highway in Aberdeen, a coastal city approximately 100 miles southwest of Seattle. Two limited liability companies traded the asset for $2.2 million. Built in 1997, the 20,714-square-foot property features 172 units. Christopher Secreto of Marcus & Millichap represented the seller and buyer in the deal.
SUGAR LAND, TEXAS — Circle Clothing has signed a 37,000-square-foot industrial lease in the southwestern Houston suburb of Sugar Land. The textile manufacturer is taking space at Sugar Land Corporate Center, an 88,200-square-foot building that is situated within a larger master-planned development. Jim Pratt of Colliers represented the tenant in the lease negotiations. Jarret Venghaus and Jordan Raney of JLL represented the landlord, Prologis.
HOUSTON — Dallas-based Apricus Realty Capital has purchased a 31,750-square-foot industrial outdoor storage facility in northwest Houston. The site at 12400-12402 Taylor Road spans five acres and houses two buildings, as well as a paved concrete yard for construction materials storage and distribution. Apricus acquired the property in a joint venture with Baltimore-based ABR Capital Partners. The seller and sales price were not disclosed.