Retail

KLNB Arranges $10.8M Sale of Shopping Center in Upper Marlboro, Maryland

by John Nelson January 12, 2023

UPPER MARLBORO, MD. — KLNB has arranged the $10.8 million sale of Marlboro Square, a 92,649-square-foot shopping center located at 5715 Crain Highway in Upper Marlboro, a suburb of Washington, D.C. Vito Lupo, Chris Burnham, Andy Stape and Jake Furnary of KLNB represented the seller, an entity doing business as Marlboro Investors LLC, in the transaction. Renaud Consulting represented the undisclosed buyer. Marlboro Square was fully leased at the time of sale to tenants including grocery anchor Weis, Advance Auto Parts and Dollar Tree, as well as medical, fitness and food-and-beverage tenants.

January 12, 2023

Acquisitions Georgia Restaurant Southeast

Palomar Group Brokers $2.8M Sale of Augusta Restaurant Leased to Steak N Shake

by John Nelson January 12, 2023

AUGUSTA, GA. — The Palomar Group has brokered the $2.8 million sale of a 3,512-square-foot restaurant located at 4329 Belair Frontage Road in Augusta. The property is triple-net-leased to Steak N Shake, a diner chain that serves burgers, fries and milkshakes. Steak N Shake has approximately 15 years remaining on its lease term, which features a 10 percent rental increase every five years. The restaurant is situated at a signalized intersection off I-20 and near Fort Gordon Army Base. An investment firm based in New Britain, Conn., purchased the restaurant from an entity based in Aiken, S.C. Both parties requested anonymity.

January 12, 2023

Westfall-Town-Center-Matamoras-Pennsylvania

Acquisitions Northeast Pennsylvania Retail

Larken Associates Acquires 203,907 SF Shopping Center in Matamoras, Pennsylvania

by Taylor Williams January 12, 2023

MATAMORAS, PA. — New Jersey-based investment firm Larken Associates has acquired Westfall Town Center, a 203,907-square-foot shopping center in Matamoras, located at the nexus of the New York-New Jersey-Pennsylvania border. The sales price was $28.6 million. A 73,000-square-foot ShopRite grocery store anchors the property, and other tenants include Flagship Cinemas, T.J. Maxx, Planet Fitness, Dollar Tree and Wendy’s. The seller was Chicago-based CenterPoint Properties. Derek Zerfass and Scott Horner of Colliers represented both parties in the transaction.

January 12, 2023

Leasing Activity Lee & Associates New York Northeast Restaurant Retail

Scores Sports Bar to Open 9,000 SF Restaurant in Midtown Manhattan

by Taylor Williams January 12, 2023

NEW YORK CITY — Score Sports Bar will open a 9,000-square-foot restaurant in Midtown Manhattan. The tenant has committed to a three-story space at 416 Eighth Avenue, which is located adjacent to Madison Square Garden, for 15 years. Brad Schwarz and James Ficelman of Lee & Associates represented the landlord, Riese Organization, in the lease negotiations. Spencer Planit of Winick Realty represented Scores Sports Bar.

January 12, 2023

Acquisitions California Retail Western

Tova Capital Acquires Shopping Center in Long Beach, California for $6.2M

by Amy Works January 12, 2023

LONG BEACH, CALIF. — Tova Capital has purchased a fully occupied retail complex in downtown Long Beach for $6.2 million in an off-market transaction. Located at 205-233 E. Anaheim St., the property features 34,500 square feet of retail space. The asset consists of two 17,000-square-foot single-story buildings that Trademark Brewing and Long Beach Rising, a climbing gym, occupy under long-term leases. Tova Capital plans a long-term hold of the retail property, which is its first investment in Long Beach. Jared Swedelson from NAI Capital represented Tova, while Sheva Hosseinzadeh of Coldwell Banker Commercial BLAIR represented the undisclosed seller in the deal.

January 12, 2023

7858-7946-8012-Woodmen-Center-Colorado-Springs-CO

Acquisitions Colorado Retail Western

NorthPeak Commercial Brokers Sale of 10,000 SF Retail Property in Colorado Springs

by Amy Works January 12, 2023

COLORADO SPRINGS, COLO. — NorthPeak Commercial Advisors has arranged the purchase of a retail building located at 7858 and 7946-8012 Woodmen Center Heights in Colorado Springs. An undisclosed buyer acquired the property for $4.8 million, or $480 per square foot. The name of the seller was not released. Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors represented the buyer in the deal.

January 12, 2023

Acquisitions Illinois Midwest Retail

Kimco Sells Retail Center in Suburban Chicago for $20.5M

by Jeff Shaw January 11, 2023

BATAVIA, ILL. — Kimco has sold Wind Point Shopping Center, a 274,282-square-foot retail center located in Batavia, a western suburb of Chicago. PMAT acquired the property for $20.5 million. Amy Sands, Clinton Mitchell and Michael Nieder of JLL arranged the transaction on behalf of Kimco. Built in 1999, the retail center was 72.5 percent occupied at the time of sale. Aldi and Hobby Lobby anchor the property. Other tenants include Kohl’s, Office Max, Petland, Chili’s, Mattress Firm, AT&T and Swordfish Sushi.

January 11, 2023

Acquisitions Midwest Ohio Retail

Marcus & Millichap Brokers Sale of 130,000 SF Retail Property Near Dayton, Ohio

by Jeff Shaw January 11, 2023

EATON, OHIO — Marcus & Millichap has brokered the sale of Eaton Center, a 130,483-square-foot retail property located about 25 miles west of Dayton in Eaton. Kroger has anchored the property for 30 years. Additional tenants include retailers such as Tactor Supply and Autozone, both of which have occupied space at the center for 25 years, and several restaurants. The property was approximately 70 percent occupied at the time of sale. The sale was brokered by investment sales team Patton-Wiles-Fuller Group of Marcus & Millichap’s Columbus office, including First Vice President CJ Jackson and Senior Managing Director Erin Patton. Senior Managing Directors Scott Wiles and Craig Fuller of Marcus & Millichap’s Cleveland office marketed the property on behalf of the seller, a Cincinnati-based private ownership group. Patton-Wiles-Fuller Group also procured the out-of-state fund that purchased the property.

January 11, 2023

Acquisitions Retail Texas

Palomar Group Negotiates $15.4M Sale of Parkdale Commons Shopping Center in Waco

by Taylor Williams January 11, 2023

WACO, TEXAS — Georgia-based brokerage firm Palomar Group has negotiated the $15.4 million sale of Parkdale Commons, a 191,559-square-foot retail center in Waco. Hobby Lobby anchors the center, which was originally built in 1973. Other tenants include True Value, dd’s Discounts and Drug Emporium. All of those retailers have leases that run through at least 2026. An investment firm based in the Southeast sold the property to a West Coast-based buyer, with both parties requesting anonymity.

January 11, 2023

Acquisitions Alabama Retail Southeast

Berkeley Capital Advisors Brokers $61M Sale of Shoppes at EastChase Shopping Center in Montgomery

by John Nelson January 11, 2023

MONTGOMERY, ALA. — Berkeley Capital Advisors has brokered the $61 million sale of Shoppes at EastChase, a 388,700-square-foot shopping center located at 7274 Eastchase Parkway in Montgomery. Alex McDonald, Alex Quarrier and Rob Carter of Berkeley Capital represented the seller, an undisclosed institutional investor, in the transaction. The buyer was 5Rivers CRE, a shopping center owner and manager based in Houston. Built in phases in 2002 and 2010, Shoppes at EastChase was 93 percent leased at the time of sale to tenants such as Books-A-Million, Bonefish Grill, Moe’s Southwest Grill, DSW, H&M, Men’s Wearhouse, Sunglass Hut and a freestanding Starbucks Coffee. Trek, Sephora, Aldi, Ashley HomeStore Outlet, Dollar Tree, Lululemon Pop Up, Nothing Bundt Cakes and Aerie have all recently signed new leases, and Zales has signed a letter of intent. The anchor tenants and shops at Shoppes at EastChase have an average operating history at the center of 11 years, according to Berkeley Capital. The property is shadow-anchored by Dillard’s, Kohl’s, Target, Costco and Hobby Lobby. The center is situated on a 60-acre along I-85, about 10 miles east of downtown Montgomery. According to Berkeley Capital, it is the second most-trafficked power retail center in Alabama.

January 11, 2023

Newer Posts

Older Posts