NEW BEDFORD, MASS. — CBRE has brokered the $14.2 million sale of Kings Plaza, a 168,000-square-foot shopping center in New Bedford, located near the base of Cape Cod. The center is home to tenants such as Savers, Ocean State Job Lot, McDonald’s, FunZ Trampoline Park and EC Barton Home Outlet. Nat Heald and Jordana Roet of CBRE represented the seller, Virginia-based REIT Cedar Realty Trust, in the transaction. The buyer was a undisclosed private investor.
PHOENIX — Westwood Financial has acquired Paradise Hills Shopping Center, a retail property in Phoenix, from Abbington Emmerson Investments for an undisclosed price. Located on 7.5 acres at 10604-10622 N. 32nd St. and 3110-3116 E. Shea Blvd., Paradise Hills Shopping Center offers 83,787 square feet of retail space occupied by 16 tenants, including Ace Hardware, Pet Supplies Plus and Uptown Jungle, along with an artisan bread shop, memorabilia store, home entertainment studio, salons, barber shop and five restaurants and bars. Mindy Korth and J.K. Jackson of Colliers’ Phoenix office, along with El Warner and Caitlin Zirpolo of Colliers in Irvine, Calif., represented the seller in the deal.
Marcus & Millichap Facilitates Purchase of 3,500 SF Starbucks-Occupied Retail Property in Sacramento
SACRAMENTO, CALIF. — Marcus & Millichap has arranged the acquisition of a restaurant property located at 9660 Kiefer Blvd. in Sacramento. An individual/personal trust acquired the asset from an undisclosed seller for $2.6 million. Starbucks Coffee occupies the 3,500-square-foot property on a 15-year, corporate net-lease basis. Yuri Sergunin and J.J. Taughinbaugh of Marcus & Millichap’s Palo Alto, Calif., office represented the buyer, while Cushman & Wakefield represented the seller in the deal. The transaction included a 1031 exchange for the buyer.
OMAHA, NEB. — Plum Market Travel Services has been awarded a contract to operate 10 dining, retail and Gourmet Natural Market locations at Omaha Eppley Airfield (OMA) in Nebraska. The agreement, part of OMA’s $950 million terminal expansion and modernization plan, comprises the majority of the food-and-beverage offerings. Plum Market Travel Services is a subsidiary of Plum Market, a natural food, beverage and wellness essentials retailer. The 10 locations consist of nine brands spanning various cuisines and formats. Notable brands include Runza, Panda Express and Sambazon, along with several local Omaha restaurants such as Block 16 and Fernando’s. Additionally, Plum Market will open two of its own concepts: a full-service kitchen and bar with all-natural snacks and travel essentials, and a convenient grab-and-go, quick-service format. The terminal expansion is slated to open in 2027.
DERBY, KAN. — Marcus & Millichap has brokered the $5.3 million sale of Spring Creek Center, a 31,557-square-foot retail strip center in the Wichita suburb of Derby. Built in 2007, the property is situated on 3.3 acres at 1821 E. Madison Ave. There are 12 fully leased suites spread across three buildings featuring a mix of medical, dining and service-oriented tenants. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, a private equity group. An all-cash private investor from the East Coast was the buyer. Colby Haugness, broker of record in Kansas, assisted in closing the transaction.
SUGAR LAND, TEXAS — CBRE has brokered the sale of First Colony Commons, a 379,829-square-foot retail center located in the southwestern Houston suburb of Sugar Land. Seafood City anchors the property, which was 97 percent leased at the time of sale. Mark Witcher, Chris Cozby, Jim Batjer, Harrison Tye and Jolie Duhon of CBRE represented the seller, TriGate Capital, which bought the property seven years ago, in the transaction. Ryan Watson of CBRE arranged acquisition financing on behalf of the buyer, Dhanani Private Equity Group.
FORT WORTH, TEXAS — California-based brokerage firm Faris Lee Investments has arranged the $4 million sale of an 6,300-square-foot retail building in Fort Worth’s Golden Triangle area. Built in 2019, the pad structure is positioned near a Walmart Supercenter and was fully leased at the time of sale to Dunkin’, Golden Triangle Dental, Rosati’s Pizza and Bazooka Charlie’s Barber. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the seller, a national developer, in the transaction. The buyer was a California-based 1031 exchange investor.
FORT MYERS, FLA. — Benderson Development has acquired Cypress Trace, a 280,000-square-foot shopping center located in Fort Myers. Grocer Winn-Dixie anchors the property, which spans 29 acres. Other tenants at the center include Five Below, Burlington and Ross Dress for Less. Benderson’s other recent acquisitions in the state include Carillon Place in Naples, North River Marketplace in Venice, Glengary Shoppes in Sarasota and Linton Commons in Delray Beach.
MURRIETA, CALIF. — SRS Real Estate Partners has negotiated the $5 million, or $975 per square foot, sale of a two-tenant retail property within the 26.3-acre The Vineyard Shopping Center in Murrieta. Located at 27970 Clinton Keith Road, the 5,128-square-foot building was constructed in spring 2024. Verizon Wireless and Chipotle Mexican Grill, with drive-thru, fully occupy the property on 10-year, corporate-guaranteed triple-net leases. Winston Guest, Matthew Mousavi and Patrick Luther of SRS Capital Markets represented the seller, a California-based private developer, in the deal. The buyer was a California-based private investor.
VANCOUVER, WASH. — Lincoln Property Co. (LPC) has opened Port of Vancouver USA Terminal 1, an office and retail development in southern Washington. The two-building complex is located in the city’s waterfront district and features 366,000 square feet of Class A office space, 12,000 square feet of ground-floor retail space and commercial amenities. The office component of the project will house the new global headquarters for ZoomInfo, an artificial intelligence platform provider based in Vancouver. Four years ago, the Port of Vancouver USA selected LPC to develop the site on port land along the Columbia River in one of two master-planned communities that are transforming the waterfront into a live-work-play neighborhood. The waterfront district is situated in the city’s urban core with convenient access to highways, public transit and Portland, Ore. The Terminal 1 development features 10- and nine-story buildings, a rooftop deck and 10,000 square feet of landscaped green spaces and outdoor seating that will be open to the public. Parking will be available on nights and weekends. The development team is also targeting LEED Gold certification. The 10-acre site is already home to an AC Hotel by Marriott, green open spaces, walking trails and bike paths. A public …