Friday, June 20, 2025
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AcquisitionsArizonaRetailWestern

Colliers Negotiates $14.8M Sale of Crossroads Plaza Shopping Center in Peoria, Arizona

by Jeff Shaw

PEORIA, ARIZ. — Colliers has brokered the $14.8 million sale of Crossroads Plaza, a 112,838-square-foot shopping center located in the Phoenix suburb of Peoria.  The property was 91 percent leased at the time of sale to tenants including Harbor Freight, Dollar Tree, Goodwill, LA Crab Shack, Ta’ Carbon Mexican Grill, Odyssey Martial Arts and Iced Out Ice Cream Parlor.  Mindy Korth, John Jackson, Caitlin Zirpolo and El Warner of Colliers represented the seller, a California-based firm. Maha Odeh Arnold of Regal Properties represented the buyer, a California-based private investor.

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AcquisitionsMarylandRetailSoutheast

AmCap, Encore Acquire Grocery-Anchored Shopping Center in Metro D.C.

by John Nelson

CALIFORNIA, MD. — A joint venture between AmCap Inc. and Encore Enterprises has acquired First Colony Center, a 98,179-square-foot shopping center in the Washington, D.C., suburb of California. The grocery-anchored center is leased to tenants including Giant, Michaels and Advance Auto Parts. Shadow anchors include Target, Lowe’s Home Improvement and BJ’s Wholesale Club. The seller and sales price of First Colony Center were not disclosed. The center represents the third joint venture acquisition between AmCap and Encore.

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AcquisitionsKansasMidwestMissouriRetail

Hanley Investment Group Arranges Sales of 10 Valvoline-Occupied Properties in Kansas, Missouri, for $17.3M

by Kristin Harlow

KANSAS AND MISSOURI — Hanley Investment Group Real Estate Advisors has arranged the sales of 10 retail properties occupied by Valvoline for a combined $17.3 million. The net-leased buildings sold to 10 separate buyers. Hanley, in association with Kansas City-based Ferguson Properties, represented the seller, an Arizona-based private investor, in nine of the 10 transactions. Hanley, in association with ParaSell Inc., represented a different seller in the 10th transaction for an asset in Kansas City. That seller was a private investor based in Kansas City.

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Leasing ActivityMichiganMidwestRetail

HomeBuys to Backfill Former Big Lots Property in Southgate, Michigan

by Kristin Harlow

SOUTHGATE, MICH. — HomeBuys has leased 34,019 square feet and will backfill a former Big Lots property at 14155 Eureka Road in Southgate, a southwest suburb of Detroit. The lease marks the first Michigan location for the discount home goods retailer. Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented the undisclosed landlord. Brad Rosenberg of Mid-America Real Estate Corp. represented the tenant.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $4.5M Sale of CVS-Leased Retail Property in Sarasota, Florida

by John Nelson

SARASOTA, FLA. — Marcus & Millichap has brokered the $4.5 million sale of a 10,378-square-foot retail property located at 8546 S. Tamiami Trail  in Sarasota. CVS/pharmacy occupies the building on a net-lease basis. The property was built in 1999 on a 1.6-acre site. Joseph Prio, Alan Lipsky and Barry Wolfe of Marcus & Millichap arranged the sale on behalf of the seller, FFT Livingstone Investors Inc. An undisclosed private investor was the buyer.

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DevelopmentLeasing ActivityRestaurantRetailTexas

Chick-fil-A to Open 4,995 SF Restaurant at Northwoods Shopping Center in North San Antonio

by Taylor Williams

SAN ANTONIO — Chick-fil-A has signed a lease to open a 4,995-square-foot restaurant at Northwoods Shopping Center in San Antonio. The Atlanta-based fast-food chain will occupy a 1.5-acre pad site at the center, which is located at the intersection of U.S. Highway 281 and Loop 1604 on the city’s north side. Other retailers at Northwoods Shopping Center, which is owned by Los Angeles-based CIM Group, include grocer H-E-B, Barnes & Noble, Marshall’s, Ulta Beauty and Old Navy. An opening date was not disclosed.

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AcquisitionsMassachusettsNortheastRetailRhode Island

Atlantic Capital Partners Negotiates $70M Sale of Retail Portfolio in Massachusetts, Rhode Island

by Taylor Williams

BOSTON — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has negotiated the $70 million sale of a portfolio of four grocery-anchored retail assets in Massachusetts and Rhode Island. The properties, all of which are master-leased to regional operator Stop & Shop, total 272,542 square feet and are located in the Massachusetts communities of Framingham, Malden and Swampscott, with the fourth in Bristol, R.I. Justin Smith, Chris Peterson and Sam Koonce of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

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AcquisitionsHawaiiRetailWestern

Watumull Properties Purchases Niumalu Marketplace in Kailua, Hawaii for $66M

by Jeff Shaw

KAILUA, HAWAII — Watumull Properties Corp. has purchased Niumalu Marketplace, a 205,000-square-foot retail center located in Kailua on O’ahu, for $66 million.  Safeway anchors the property, which is situated on 20 acres. Wendell Brooks and Kimo Greenwell of JLL will handle leasing at the center, and Big Island Colliers’ Hawaii office will provide property management services.

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AcquisitionsColoradoLoansMixed-UseOfficeRetailWestern

Essex Arranges $32M Acquisition Financing for Mixed-Use Property in Denver

by Jeff Shaw

DENVER — Essex Financial Group has secured $32 million in financing for the purchase of 2nd & Josephine, a 105,253-square-foot mixed-use property in Denver.  Comprising four buildings, the development was fully leased at the time of sale. Bank of America anchors the property, which features retail and office space, as well as 260 parking spaces.  Paul Donahue, Cooper Williams, Nate Schneider and Andrea Mehlem of Essex arranged the seven-year, fixed-rate loan through an undisclosed life insurance company on behalf of the buyer.

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