SALEM, N.H. — Clarion Partners has sold the Village Shoppes of Salem shopping center in Salem for $39.9 million. The 170,270-square-foot shopping center is fully occupied with tenants such as Best Buy, Sports Authority and PetSmart. Chris Angelone, Jim Koury, Bill Moylan, Nat Heald and Josh Klimkiewicz of CBRE represented the seller in the transaction. They also procured the buyer, Route 28 Salem LP.
FAIRFIELD, CONN. — Allonge Holding LLC has acquired 1657 Post Rd. in Fairfield for $1.9 million. The company plans to lease the 6,800-square-foot-property to Flash Pointe Dance, a dance studio, and Glitter & Grime, a sportswear company. Bruce Wettenstein of Vidal/Wettenstein represented the buyer in the transaction. Jack Lipson of Westport Real Estate represented the seller, 1657 Post Road LLC.
THE WOODLANDS — Houston-based J. Beard Real Estate Co. has arranged the sale of a 1.21-acre pad site that will house a Japanese restaurant, located at the intersection of Technology Forest Boulevard and Research Forest Drive in The Woodlands. Tim Maczko of J. Beard represented the seller, Everson Developments, in the transaction. The buyer, a private partnership, currently owns and operates two Sakekawa Japanese Steak House & Sushi Bar restaurants.
JACKSONVILLE, FLA. — A 65,296-square-foot shopping center, located at 31 Arlington Rd. S. in Jacksonville, has been sold for $2.2 million. Winn Dixie and Pinch-A-Penny anchor the center. Bryan Bartlett and Lee Stine of Jacksonville, Fla.-based Grubb & Ellis/Phoenix Realty Group represented the buyer in the transaction.
WYOMISSING, PA. — Lakewood, N.J.-based Paramount Realty Services has purchased Berkshire Square, a 112,119-square-foot shopping center in Wyomissing, for $16.6 million. The property, which was 97 percent occupied at the time of sale, is anchored by Redner's Warehouse Markets and a 23,114-square-foot staples. Mark Tyler and Dean Zang of Marcus & Millichap represented the seller, WP Realty of Bryn Mawr, Pa. They also represented the buyer.
SUGAR LAND — Marcus & Millichap has arranged the $9.49 million sale of the 96,623-square-foot Woodbridge Shopping Center, located at 11543-11581 State Hwy. 6 S. in Sugar Land. James Bell of Marcus & Millichap's Houston office represented the seller, a partnership, and procured the buyer, a REIT, in the transaction. Woodbridge Shopping Center is anchored by Kroger on a long-term ground lease.
IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors has sold three multi-tenant strip centers in the Inland Empire that total 96,327 square feet for $8,170,026. The sales included the 24,624-square-foot Citrus Foothill Retail Center in Fontana, which was purchased by Fontana Shopping Plaza LLC; the 31,663-square-foot Smith Avenue Center in Corona, which was purchased by NSHE CA Leonardo, LLC; and the 40,040-square-foot Grand Jurupa Center in Riverside, which was purchased by La Peer Investments, LLC.
MERRIAM, KAN. — Lee & Associates Net Leased Group in Carlsbad, Calif., a division of the national brokerage firm Lee & Associates, has closed a $19.1 million sale of a car dealership property at 6801 E. Frontage Rd. in Merriam. An undisclosed buyer acquired the 58,430-square-foot property, which is occupied by CarMax Inc. The used-car retailer will remain at the property. CarMax has 17 years remaining on its lease, which includes four, 5-year extension options. Ryan Barr and Ryan Bennett of Lee Net Leased Group assisted the buyer in the assumption of a complex CMBS loan that was already in place on the property. The seller, a non-traded REIT, was self-represented in the transaction.
PA. AND N.J. — Stanbery Development has selected Fameco Management Services (FMS) as property manager for its 430,000-square-foot retail portfolio, which includes four shopping centers in Pennsylvania and New Jersey. Karen Cahill of FMS will manage The Shoppes at Susquehanna Marketplace in Harrisburg, Pa.; Kathy Blessing of FMS will oversee The Shoppes at English Village in Montgomeryville, Pa.; and Wayne Neis of FMS will manage The Shoppes at Old Bridge in Old Bridge, N.J., and The Shoppes at Union Hill in Denville, N.J.
NEW YORK CITY — New York City-based Ariel Property Advisors has negotiated two sales in New York City totaling $1.7 million. A 7,579-square-foot retail property, located at 5048-50 Broadway & 4022 10th Ave., sold for $900,000. Also, a 10-unit multifamily walk-up, located at 100 E. 123rd St., sold for $825,500. The buyers and sellers in both transaction were local investors. Victor Sozio and Michael Tortorici of Ariel Property Advisors represented the sellers in the transactions.