Thursday, July 17, 2025
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Retail

NortheastRetail

MARCUS & MILLICHAP ARRANGES SALE OF TWO RETAIL PROPERTY FOR $2.3M

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BERKLEY HEIGHTS AND FORKED RIVER, N.J. — Marcus & Millichap has arranged the $1.4 million sale of a fully occupied 5,734-square-foot retail property in Berkley Heights. Michael Lombardi of Marcus & Millichap represented the seller, a local private investor. Nat Gambuzza and Lauren Federgreen of Marcus & Millichap represented the buyer, a local investor. The company also arranged the $887,500 sale of a Wendy's ground lease in Forked River. The 2,9100-square-foot property is located at 301 Route 9. Preet Sabharwal of Marcus & Millichap represented the seller, a Connecticut-based developer. They also represented the buyer, a local private investor.

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RetailWestern

CENTER AT SHANGRI-LA IN SANTA CLARITA SELLS FOR $10M

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SANTA CLARITA, CALIF. — The Center at Shangri-La, a 53,692-square-foot retail shopping center in Santa Clarita, has sold to an unnamed buyer for $10 million. It is located at 18635 Soledad Canyon Road. The center is 97 percent leased to 15 tenants on triple-net leases with fixed increases. Notable tenants include the Santa Clarita Public Library, Telesis Communication, Everest Charbroiled Burgers, IHOP, the Medicine Shoppe, Jersey Mike’s Subs, Domino’s Pizza and the Elite Fitness Compound. The library, which co-anchors the center, was not part of the sale. The seller, Shangri-La LLC, was represented by Gregory Mills of Marcus & Millichap’s Encino office.

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RetailSoutheast

REGENCY PLAZA SHOPPING CENTER TRADES IN JACKSONVILLE

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JACKSONVILLE, FLA. — The 205,696-square-foot Regency Plaza shopping center, which is located on Atlantic Boulevard directly across from Regency Square Mall in Jacksonville, has sold. Tenants include Burlington Coat Factory, OfficeMax, dd’s Discounts, Chuck E. Cheese’s, Baby Depot and Carrabba’s Italian Grill. Kimco Realty represented the unlisted seller, while DLC Management Corp. represented the unlisted buyer.

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RetailSoutheast

FORMER TOYS ‘R’ US LOCATION SELLS FOR $3.25M IN ORLANDO

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ORLANDO, FLA. — A former Toys “R” Us location at 724 Herndon Ave. near Fashion Square Mall in Orlando has sold for $3.25 million. Tennessee-based UP Development LLC purchased the 42,000-square-foot big box retail space from Toys “R” Us. Scott Corbin of Colliers International Central Florida represented the buyer, while James Avallone of DJM Realty Inc. represented Toys “R” Us. The buyer also purchased the adjacent front parcel on Herndon Avenue to complete a retail assemblage for redevelopment, which is expected to begin in the first quarter of 2013 and be completed by the first quarter of 2014.

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MidwestRetail

HEALTHSOURCE BUYS 14,009 SF OF HILLSBORO PLAZA

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HILLSBORO, OHIO — HealthSource of Ohio recently purchased a 14,009-square-foot portion of Hillsboro Plaza, a 58,127-square-foot retail center at 1088-1100 N. High St. in Hillsboro, for $1.4 million. Buckeye State Investors initially purchased the distressed center in 2005 and began a comprehensive renovation of the half-empty property. Brent Sears of NAI Bergman served as the general contractor and leasing broker for the project. The renovated property is fully leased to tenants such as Peebles Department Store and #1 China Buffet. The balance of Hillsboro Plaza is currently being offered for sale for $3.5 million.

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NortheastRetail

YUM BRANDS SELLS 120-UNIT KFC PORTFOLIO

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DALLAS — A partnership between Mitra QSR and Chalak Growth Capital Fund has closed on its purchase of 120 franchise restaurants in the Northeast. The sale included 78 Kentucky Fried Chicken units, 39 KFC/Taco Bell co-branded units and three KFC/Long John Silver's co-branded units. The properties are located in Virginia, Maryland, Delaware, Pennsylvania, West Virginia and New Jersey. The seller is Yum Brands Inc. Mitra and Chalak have also partnered on a deal for 33 additional KFC/Taco Bell units in Texas, Oklahoma, Kansas, Missouri and Illinois. After the transaction closes, Mitra will be one of the largest KFC franchisees, the company said in a statement.

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NortheastRetail

UNION RETAIL BUILDING TRADES FOR $5.5M

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UNION, N.J. — Marcus & Millichap has arranged the $5.5 million sale of 2317 Route 22, a 16,235-square-foot retail property in Union. Four of the six retail units are occupied by GameStop, Quiznos, Radio Shack and Foot Locker. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller, a private investor. They also secured the buyer, a local developer.

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NortheastRetail

LIGHTSTONE REFINANCES THREE RETAIL PROPERTIES FOR $23M

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NORTH ATTLEBORO, MASS. and MANCHESTER, CONN. — The Lightstone Group has completed the refinancing of three of its retail centers, totaling 270,000 square feet, in North Attleboro and Manchester. The Bank of the Ozarks provided a three-year, $23 million loan. The properties include Christmas Tree Shops Plaza and Cumberland Avenue Plaza in North Attleboro and Hale Road in Manchester. The properties are more than 94 percent occupied and tenants include Bed Bath & Beyond, Guitar Center and David's Bridal. Lightstone acquired the assets in October 2000.

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RetailTexas

HUNINGTON SECURES CROSSROADS RETAIL CENTER SALE

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HOUSTON — Hunington Properties has arranged the sale of the 10,484-square-foot Crossroads Retail Center, located near the intersection of Highway 290 and FM 1960 in Houston. The property is fully leased to mostly national tenants. Todd Carlson and Larry Riklin of Hunington Properties represented the buyer, a local nonprofit organization, in the transaction. The buyer plans to assume management and leasing duties for the property.

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