Tuesday, June 17, 2025
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AcquisitionsIllinoisMidwestRestaurantRetail

Quantum Negotiates $32.7M Sale of Retail Center in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has negotiated the sale of an 81,760-square-foot retail center in Naperville for $32.7 million. The property, which was 96 percent leased at the time of sale, is home to Old Town Pour House, Maggiano’s Little Italy, White Chocolate Grill, Morton’s Steakhouse, Jason’s Deli, Naf Naf Grill, Bombay Wraps and Brick’s Wood Fire Pizza. Chad Firsel, Dan Waszak and Zack Hilgendorf of Quantum represented the seller, a Dallas-based institutional investment firm, and the buyer, a Philadelphia-based investment fund.

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IllinoisLoansMidwestNorthmarqRetail

Northmarq Arranges $12.5M Loan for Refinancing of Five-Property Retail Portfolio in Metro St. Louis

by Kristin Harlow

EDWARDSVILLE, GLEN CARBON AND HIGHLAND, ILL. — Northmarq has arranged a $12.5 million loan for the refinancing of a five-property retail portfolio in metro St. Louis. The centers, built between 1998 and 2019, total about 110,000 square feet and are located in Edwardsville, Glen Carbon and Highland. Jeff Chaney of Northmarq arranged the fixed-rate loan, which features a 20-year term and a 20-year amortization schedule. A life insurance company provided the loan to the borrower, R.L.P. Development Co. Inc.

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AcquisitionsMassachusettsNortheastRetail

SRS Arranges $7.2M Sale of Retail Property in Burlington, Massachusetts

by Taylor Williams

BURLINGTON, MASS. — SRS Real Estate Advisors has arranged the $7.2 million sale of an 8,815-square-foot retail property in the northern Boston suburb of Burlington. The property was built in 2016 and was fully leased at the time of sale to tenants such as Starbucks and Sherwin-Williams. Matthew Mousavi and Patrick Luther of SRS represented the seller, a private regional developer, in the transaction. Susan Harris, also with SRS, represented the buyer, an East Coast-based private partnership. Both parties requested anonymity.

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AcquisitionsIndianaMidwestRetail

Boulder Group Brokers $4.1M Sale of Firestone-Occupied Property in Portage, Indiana

by Kristin Harlow

PORTAGE, IND. — The Boulder Group has brokered the $4.1 million sale of a single-tenant retail property occupied by Firestone in Portage, a city in Northwest Indiana. The 6,116-square-foot building is located on Highway 6. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, a Midwest-based investor completing a 1031 exchange. A national development firm was the seller.

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AcquisitionsIowaMidwestRetail

Marcus & Millichap Arranges $1.8M Sale of Retail Center in Davenport, Iowa

by Kristin Harlow

DAVENPORT, IOWA — Marcus & Millichap has arranged the sale of Elmore Avenue Shoppes in Davenport for $1.8 million. The 9,800-square-foot retail center is located at 4810 Elmore Ave. The center was more than 85 percent leased at the time of sale to GameStop, Hungry Hobo, Novel Nail Studio, Computer Repair Center and 100% Chiropractic. The Rowlett Group, investment specialists in Marcus & Millichap’s Milwaukee office, represented the seller, a private investor group. The team also represented the buyer, which was a member of the seller’s investor group.

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AcquisitionsMassachusettsNortheastRetail

SRS Arranges $7.2M Sale of Retail Property in Burlington, Massachusetts

by Taylor Williams

BURLINGTON, MASS. — SRS Real Estate Advisors has arranged the $7.2 million sale of an 8,815-square-foot retail property in the northern Boston suburb of Burlington. The property was built in 2016 and was fully leased at the time of sale to tenants such as Starbucks and Sherwin-Williams. Matthew Mousavi and Patrick Luther of SRS represented the seller, a private regional developer, in the transaction. Susan Harris, also with SRS, represented the buyer, an East Coast-based private partnership. Both parties requested anonymity.

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AcquisitionsFloridaMixed-UseRestaurantRetailSoutheast

Rockpoint, Ivanhoe Cambridge Sell Mary Brickell Village Mixed-Use Property in Miami for $216M

by John Nelson

MIAMI — Boston-based Rockpoint and Montreal-based Ivanhoe Cambridge have sold Mary Brickell Village, a Publix-anchored mixed-use property in Miami’s Brickell district. RPT Realty purchased the 200,503-square-foot development for $216 million. Danny Finkle, Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores of JLL represented the sellers in the transaction. Situated on 5.2 acres at 901 S. Miami Ave., Mary Brickell Village’s tenant roster includes Miami’s only LA Fitness Signature Club, as well as Moxie’s, North Italia, P.F. Chang’s, Shake Shack, Blue Martini, Starbucks, Massage Envy, Candela Gastro Bar and EWM Realty. The mixed-use property also includes an 875-space parking garage. Originally constructed in 2008, Mary Brickell Village underwent renovations between 2018 and 2020.

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AcquisitionsFloridaRetailSoutheast

SRS Brokers $7.4M Sale of Retail Property in South Florida Leased to Bank of America

by John Nelson

PLANTATION, FLA. — SRS Real Estate Partners has brokered the $7.4 million sale of Bank of America Plaza, a 13,000-square-foot retail building located at 7001 W. Broward Blvd. in Plantation. Situated in South Florida’s Broward County, the property was built in 2004 and leased to Bank of America. Brandon Woulfe of SRS represented the seller, an entity doing business as 7001 Plantation 2009 LP, in the off-market transaction. Don Ginsburg of Katalyst Real Estate represented the buyer, Barron Real Estate.

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AcquisitionsCaliforniaNet LeaseRestaurantRetailWestern

Calbay Development Acquires Three Retail Properties in California for $8.5M

by Amy Works

COMMERCE, CARDIFF AND SANTEE, CALIF. — Calbay Development has purchased three value-add retail properties in California for a total of $8.5 million. In the first transaction, Calbay acquired a site in Commerce in a short-term, off-market, sale-leaseback transaction for $2.5 million. Calbay plans to construct a new Starbucks drive-thru café on the site in 2023. The second property is a corporate-owned Jack in the Box drive-thru in Cardiff, which Calbay acquired for $2.5 million. Reg Kobzi, Michael Peterson, Natasha Edwards and Brianna Bowers of CBRE and Mike Clark of Main & Main brokered the transaction. The property was sold as a short-term sale-leaseback with Jack in the Box corporate. Calbay plans to redevelop the property into a new restaurant in 2023. In the third transaction, Calbay acquired a value-add strip center, with option to purchase a corner lot of excess land, located on a signalized intersection in Santee for $3.5 million. The site benefits from upside due to short-term leases, strong traffic, major adjacent retailers and on/off access to the freeway. Greg Spounias of Highland Partners Corp. brokered the transaction. Calbay secured financing through MidFirst Bank for all three sites and intends to redevelop each property with national brand retailers …

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AcquisitionsRetailTexas

Lee & Associates Arranges Sale of 80,000 SF Retail Property in West Houston

by Taylor Williams

HOUSTON — Lee & Associates has arranged the sale of an 80,000-square-foot retail property in West Houston that houses a car dealership. The 7.7-acre site at 6737 Southwest Freeway was originally built in 1965, according to LoopNet Inc. Nathan Denton, Justin Tunnel and Chase Cribbs of Lee & Associates represented the buyer, HGreg Investment of California, in the transaction. The seller and sales price were not disclosed, although LoopNet identified a listing price of roughly $19 million.

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