CARLSBAD, CALIF. — Santa Monica, Calif.-based Tooley Interests LLC has purchased Carlsbad Village Plaza, a grocery-anchored shopping center in Carlsbad. Balboa Retail Partners sold the asset for $23.5 million. Located 945-1065 Carlsbad Village Drive, Carlsbad Village Plaza features 58,735 square feet of retail space. Smart & Final Extra anchors the property, and there are 12 other tenants. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.
TEMECULA, CALIF. — Progressive Real Estate Partners has arranged the sale of Cross Creek Golf Club, located at 43860 Glen Meadows Road in Temecula. ANB Enterprises sold the asset, which includes the real estate and business, to Ken Tina LLC for $4.6 million. Brad Umansky and Greg Bedell of Progressive represented the seller, while Craig Way of Seaway Properties represented the buyer in the deal. Built in 2001, the Arthur Hill-designed, 18-hole Cross Creek Golf Club sits on 166 acres. The buyer plans to make significant investments to the upgrade the clubhouse, improve the condition of the golf course and potentially add new facilities for hosting weddings and special events. Touchstone Golf will manage the property.
BOARDMAN, OHIO — First National Realty Partners has acquired Southland Crossings in Boardman, about 50 miles east of Akron. The purchase price and seller were undisclosed. Giant Eagle Supermarket anchors the 245,678-square-foot shopping center, which is located on Doral Drive. The property is 91 percent leased by tenants such as Ross Dress for Less, PetSmart, DSW and Michaels.
LOS ANGELES — Matthews Real Estate Investment Services has arranged the sale of Manchester Plaza, a retail property located at 520-536 E. Manchester Ave. in Los Angeles. An undisclosed developer sold the asset to a local investor for $5.5 million, or $647 per square foot. The property offers approximately 8,500 square feet of multi-tenant retail space. Joe Nelson of Matthews handled the transaction.
AURORA, ILL. — Marcus & Millichap has brokered the sale of a 98,765-square-foot retail center in Aurora for $5 million. Located at 1901 W. Galena Blvd., the property features a mix of retail and medical tenants. Rush-Copley Medical Center, which specializes in family medicine, imaging and obstetrics and gynecology, anchors the center. There is 23,751 square feet available for lease. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local fund manager. The duo also secured the buyer, an Iowa-based limited liability company.
TULSA, OKLA. — Stan Johnson Co., a retail net-leased brokerage firm based in Tulsa, has arranged the sale of a trio of national single-tenant portfolios for $75.5 million. The portfolios consist of 40 properties across seven states that are leased to tenants such as Tractor Supply Co., Dollar General and Advance Auto Parts, among others. Ryan Butler of Stan Johnson Co. represented the undisclosed seller in the off-market transactions. The buyers were also not disclosed.
PETALUMA, CALIF. — Paragon Commercial Group and Canyon Partners Real Estate have purchased Washington Square, a multi-tenant, grocery-anchored shopping center in Petaluma. This acquisition is the ninth investment completed by Paragon and its joint venture with Canyon Catalyst Fund, and Paragon’s fifth retail acquisition in 2021. Terms of the transaction were not released. Situated on the corner of South McDowell Boulevard and East Washington Street, Washington Square features 215,761 square feet of retail space. Current tenants include Bank of America, Wells Fargo, WestAmerica Bank, Planet Fitness, Party City and Pet Food Express. The center was developed in 1971 and owned by the same company for 35 years.
AUSTIN, TEXAS — Whitestone REIT has acquired the inline retail space at Anderson Arbor, located in northwest Austin, in a deal that adds 89,746 square feet to the Houston-based investment firm’s holdings. The property was built in three phases beginning in 2003 and is part of a larger, 268,000-square-foot retail development. The inline space was roughly 91 percent leased at the time of sale to tenants such as Bank of America, Kerbey Lane Café, Austin Emergency Center, SalonRepublic, Great Clips, GNC, The Melting Pot and Double Dave’s Pizzaworks. Additional tenants in the portion of the center not owned by Whitestone include Gold’s Gym, Walgreens and Main Event Entertainment. Whitestone also has the option to purchase an additional undeveloped parcel and an existing multi-tenant pad site at Anderson Arbor. If exercised, these options would boost Whitestone’s owned square footage within the development to approximately 100,000 square feet. David Disney and Adam Crockett of Dallas-based Disney Investment Group represented the undisclosed seller in the transaction and procured Whitestone REIT as the buyer.
EASTON, MASS. — Atlantic Capital Partners has arranged the sale of Highland Plaza, a 112,869-square-foot shopping center in Easton, located about 30 miles south of Boston. Regional grocer Big Y anchors the property, which was 96 percent leased at the time of sale, with a 56,519-square-foot store. Other tenants include T.J. Maxx and Liberty Mutual. Justin Smith, Chris Peterson, Sam Koonce, Molly Lynch and Ben Starr of Atlantic Capital Partners represented the seller, Cincinnati-based shopping center REIT Phillips Edison & Co. (NASDAQ: PECO), in the deal. The team also procured the undisclosed buyer.
BOSTON — Wayfair (NYSE: W), a Boston-based e-commerce firm specializing in furniture, will open three brick-and-mortar stores in the Boston area in 2022. The first two stores will be located within open-air centers in Lynnfield and Dedham that are owned by WS Development and will carry the company’s AllModern brands. The third store will be located within Simon Property Group’s Burlington Mall and will carry the Joss & Main brand. Wayfair plans to open more stores to support other brands over the next two years.
