BOSTON — Marcus & Millichap has brokered the $7.9 million sale of three retail buildings totaling 20,924 square feet in Massachusetts and New Hampshire that are leased to automotive services provider Town Fair Tire. The Massachusetts buildings are located in Billerica and Brockton, and the New Hampshire property is located in Nashua. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, Orion Buying Corp., in the deal. Ryan Wilmer, also with Marcus & Millichap, procured the buyer of the Massachusetts buildings. Robert Rohrer Jr. of Colliers represented the buyer of the New Hampshire asset.
ENGLEWOOD, COLO. — A joint venture between DPC Cos. and Ogilvie Partners has acquired Englewood CityCenter for an undisclosed price. Brad Lyons of CBRE handled the transaction. Englewood CityCenter offers 220,000 square feet of office, retail and multifamily space. The joint venture is working with the City of Englewood on a master redevelopment plan to transform Englewood CityCenter into a community center with multifamily housing, open space for community gathering and a walkable live/work/shop area with retail, services, restaurants and a hotel within the 12-acre site. At the time of sale, the property was 40 percent leased. Current tenants include Harbor Freight, Ross Dress for Less, Petco, Tokyo Joe’s, Jersey Mike’s Subs and Einstein Bros.
SRS Real Estate, Hanley Investment Group Broker $7.2M Sale of Retail Property in Corning, California
CORNING, CALIF. — SRS Real Estate Partners and Hanley Investment Group have arranged the sale of a retail property located at 570 Solano St. in Corning, approximately 25 miles from Chico. A Redding, Calif.-based private investor sold the asset to a Napa Valley, Calif.-based private investor for $7.2 million. Sav-Mor Foods occupies the 32,000-square-foot property, which is situated on 2.6 acres. The store is run by North State Grocery, which operates 21 locations in California and Oregon. Alexander Moore of SRS Capital Markets and Lee Csenar of Hanley Investment Group represented the seller in the transaction.
BELLEVUE, NEB. — Investors Realty Inc. has brokered the $13.6 million sale of the Twin Creek Shopping Center in Bellevue, a southern suburb of Omaha. Situated at the intersection of 36th Street and Highway 370, the property consists of eight retail buildings totaling 83,085 square feet. Ember Grummons of Investors Realty represented the seller, River Village Twin Creek LLC. Tim Kerrigan, Grant Kobes and Jarrot Simon of Investors Realty represented the buyer, Classic Street Partners LLC.
SURPRISE, ARIZ. — SimonCRE has closed on the purchase of the first phase of Asante Trails, a 12.4-acre retail project in Surprise, approximately 35 miles outside Phoenix. SimonCRE has announced a $50 million investment for the acquisition of Asante Trails. According to the Phoenix Business Journal, the seller was a partnership between SimonCRE and Jim Stockwell J. of Clyde Capital LLC, which acquired the land in 2023. The project will be part of a larger 90-acre mixed-use project that will anchor the Asante master-planned community. Phase I of Asante Trails will feature retail tenants including Farmer Boys, Jimmy John’s, Baskin-Robbins, Circle K and Clean Freak Car Wash. Roughly 19,000 square feet is available for lease.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of a retail and liquor store property located at 2035 S. Broadway in Denver. The 5,589-square-foot property traded for $4.7 million in an off-market transaction. The names of the seller and buyer were not released. Levi Saxen and Jack Eberwein of The Saxen Team of Pinnacle Real Estate Advisors represented the buyer and seller in the deal.
IRONDALE, ALA. — CBRE has secured a $15 million loan to refinance Cahaba Crossing, a 67,874-square-foot shopping center located in the Birmingham suburb of Irondale. A 48,837-square-foot Publix supermarket anchors the 9.8-acre property. Richard Henry, Mike Ryan, Brian Linnihan and JP Cordiero of CBRE secured the loan on behalf of the borrowers, Halvorsen Holdings and Ezon Inc. Carmel, Ind.-based 40|86 Advisors provided the five-year, fixed-rate, interest-only loan. Built in 2023, Cahaba Crossing was fully leased at the time of loan closing to 10 tenants, including The UPS Store, Starbucks Coffee and Heartland Dental. Additionally, the site features a 1.5-acre outparcel reserved for future development.
WEBSTER, TEXAS — CBRE has brokered the sale of Baybrook Passage, a 189,334-square-foot shopping center in Webster, a southeastern suburb of Houston. Best Buy and Staples anchor the center, which was built in 2003 and was 97 percent leased at the time of sale. Other tenants include Boot Barn, Skechers and healthcare provider Memorial Hermann. Mark Witcher, Jolie Duhon, Chris Cozby, Jim Batjer and Harrison Tye of CBRE represented the seller, Gulf Coast Commercial Group, in the transaction. The local buyer, SLS Properties, was self-represented.
DORAL, FLA. — Marcus & Millichap has arranged the $9.7 million sale of Doral Shops & Professional Center, a retail center located in the western Miami suburb of Doral. Scott Sandelin and Edward Romo of Marcus & Millichap represented the seller and procured the buyer in the deal. Situated at 3655 NW 107th Ave., the multi-tenant property spans 15,314 square feet. Nine tenants are operating on a triple-net leased basis at the property, including South Dental Doral, Doral Physical Therapy, Uni K Wax and Venezuelan restaurant La Coriana.
KANSAS CITY, MO. — Tierra Encantada, a Spanish immersion early education company, has signed a 14,440-square-foot retail lease at 114 W. Gregory Blvd. in Kansas City. The former home of Reece Nichols, the Brookside location offers a newly remodeled roof, mechanical equipment and interior. Tierra Encantada currently has 17 locations in the U.S., and the new lease marks its second in the greater Kansas City area. Marshal Blount of Block & Co. Inc. Realtors represented the undisclosed landlord, while CBRE represented the tenant.