MCDONOUGH, GA. — Prudent Growth Partners LLC, a Chapel Hill, N.C.-based private equity firm, has purchased Lake Dow Pavilion, an 18,000-square-foot retail strip center in McDonough, a southern suburb of Atlanta. The undisclosed seller sold the property for approximately $2.6 million. Lake Dow Pavilion was fully leased at the time of sale and features a combination of local tenants and future upside from potential mark-to-market leasing opportunities. According to LoopNet Inc., the center was built in 2001 on a 2.4-acre site along Ga. Highway 81.
BANNING, CALIF. — Marinita-Sage Rancho LLC has completed the disposition of Sun Lakes Village, a retail property in Banning, to a private investor for $8.7 million. Located at 300 S. Highland Springs Ave., Sun Lakes Village offers 97,380 square feet of retail space. Current tenants at the property include Hobby Lobby, Marshalls and Big Five. Paul Bitonti of Marcus & Millichap represented the seller and procured the buyer in the deal.
ATLANTA — Five new retailers and restaurants have joined the tenant roster at Atlantic Station, a 138-acre mixed-use development in Midtown Atlanta. Houston-based Hines, which has owned the retail portion of the property since 2015, recently signed donut and desserts eatery Yonutz; cookie concept Munster Cravings; candle-making experiential retailer Candleporium Fragrance House; and car wash and detailing shop Dirty Horse Paint Protection and Auto Detailing to the lineup. Additionally, Lucky Strike Entertainment has backfilled and rebranded Atlantic Station’s Bowlero bowling alley. Opened in 2005, Atlantic Station features 523,511 square feet of retail, entertainment and restaurant space; 2 million square feet of Class A office space, including offices for Microsoft; two full-service hotels; multiple apartments, lofts and luxury condo residences; and freestanding IKEA, Target and Dillard’s stores.
SPRINGFIELD, MO. — Marcus & Millichap has negotiated the $6.6 million sale of a gas station property net leased to Kum & Go in Springfield. There are 15 years remaining on the lease, and Kum & Go has operated at the location since 1991. In 2019, the original building was demolished and rebuilt with an expanded design. Timothy Nichols, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, an Arkansas-based limited liability company, and procured the buyer, an Iowa-based limited liability company. The transaction closed in less than 45 days.
FORT DODGE, IOWA — Cleeman Realty Group has brokered the $4.3 million sale of a 66,455-square-foot retail property net leased to Hy-Vee Supermarket in Fort Dodge, about 95 miles north of Des Moines. Hy-Vee has occupied the building at 115 S. 29th St. since 1997. Nearby national retailers include Walmart, Target, Marshalls, Hobby Lobby and Aldi. Jeremy Scheer and Michael Cleeman of Cleeman Realty Group represented the undisclosed buyer and seller. The seller sought to reallocate funds into a different asset class, according to Scheer.
HOUSTON — Metro Philadelphia-based CenterSquare Investment Management has purchased Windermere Village, a 31,355-square-foot retail property in northwest Houston. The center is home to tenants such as Tropical Smoothie Café, Pure Barre, The Joint Chiropractic, Marco’s Pizza and Edible Arrangements. In addition, 85°C Bakery Café and Flying Biscuit Café have will soon open eateries at Windermere Village. The seller and sales price were not disclosed.
ARLINGTON, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Windsor Terrace Center, a 16,767-square-foot retail strip center in Arlington. According to LoopNet Inc., the center was built on 2.2 acres in 1986. Hudson Lambert and Harrison Beethe from STRIVE brokered the deal. The buyer and seller were not disclosed. Windsor Terrace Center was fully leased at the time of sale to tenants such as Subway, State Farm and McCullar’s Irish Pub.
SAN ANTONIO — Rainier Cos., a Dallas-based investment firm, has sold San Antonio Crossing, a 145,819-square-foot shopping center located on the city’s northwest side. Rainier Cos. purchased the center, which is located at the corner of Bandero Road and Loop 1604, in 2019. Texas-based grocer H-E-B anchors the center, and other tenants include Academy Sports + Outdoors, Burlington, Half Price Books, Starbucks Coffee and ModPizza. Philip Levy and Chris Gainey of Marcus & Millichap brokered the deal. The buyer and sales price were not disclosed.
ROLESVILLE, N.C. — Crosland Southeast and Core Sound Development has signed 11 new tenants to Wallbrook, an 80-acre mixed-use development located in Rolesville, roughly 17 miles northwest of Raleigh. Publix will anchor the property, which is scheduled to open its initial phase in mid-2025. The developers have preleased 21,000 square feet to tenants including restaurants, a dental practice, hair salon, massage parlor and Pilates gym. Additionally, Fifth Third Bank has signed a ground lease at an outparcel. Approximately 9,000 square feet of space is still available for lease at the property. Crosland is planning for a second phase with preleasing beginning this spring. Charlie Coyne and Matt Larson of CBRE are leading leasing efforts at Wallbrook, which will have 265,000 square feet of commercial space when fully built-out.
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.