CLEVELAND — Legion Capital has sold an 11,185-square-foot retail property leased to Family Dollar in Cleveland. The buyer and sales price were undisclosed. The building is located at 650 Northfield Road. Cale Powers of Trinity Real Estate Investment Services represented Legion, which purchased a different Family Dollar property in New Orleans. Family Dollar operates more than 8,000 stores across the U.S.
ARLINGTON, VA. — SRS National Net Lease Group has arranged the $4 million sale of a two-tenant retail property in Arlington, about five miles southwest of Washington, D.C. Andrew Fallon and Rick Fernandez of SRS represented the seller, Chicago-based McCaffery Interests Inc. The undisclosed, Virginia-based private buyer purchased the property in a 1031 exchange. The sales price represented $1,286 per foot. Built in 1979, the 3,100-square-foot, two-story property is occupied by Wireless Rxx and Starbucks. The property is positioned on Clarendon Boulevard, across the street from a Whole Foods Market. The Starbucks has been at this location since the location was redeveloped into The Crossing Clarendon, a mixed-use destination featuring open-air retail, restaurants, residential and office buildings.
NEW ORLEANS — Trinity Real Estate Investment Services (Trinity REIS) has brokered the sale of a Family Dollar-occupied retail property in New Orleans. Trinity REIS represented the seller, Legion Capital, in the sale. The sales price was not disclosed. The Family Dollar-occupied property spans 9,180 square feet. Located at 7437 Westbank Expressway, the property is situated about 10 miles from downtown New Orleans and 19.1 miles from the New Orleans Lakefront Airport.
ATLANTA — Fin & Feathers, an American soul food restaurant owned by Damon Johnson, will open in a new 5,400-square-foot location at 1136 Crescent Ave. in Midtown Atlanta. The new location will be the restaurant’s fourth in metro Atlanta. Bryan Davis of Atlanta-based Ackerman & Co. represented Fin & Feathers in the transaction. Fin & Feathers will open in the space formerly occupied by Tin Lizzy’s Cantina. The restaurant is slated to open in February. The interior of the Midtown Atlanta location will be completely redesigned to fit the Fin & Feathers’ style, which usually has colorful recessed lighting, a welcoming bar, wood tables and chairs and wall artwork. Additionally, the new location will have an outdoor patio for dining. The first Fin & Feathers location opened at 360 Edgewood Ave. in downtown Atlanta. Other locations near Atlanta include 7430 Douglas Blvd. in Douglasville and Ga. Highway 85 in Riverdale.
MOUNT OLIVE, N.J. — Locally based brokerage firm R.J. Brunelli & Co. has negotiated the $49.8 million sale of ITC Crossing South, a 373,612-square-foot shopping center located on 46 acres in Mount Olive, for $49.8 million. The property is home to retailers such as Lowe’s, Michaels, PetSmart, Old Navy, T.J. Maxx, Panera Bread, McDonalds, Longhorn Steakhouse and Bed, Bath & Beyond. The buyer, California-based Black Lion Investment Group, plans to implement a capital improvement program.
TERRE HAUTE, IND. — Stan Johnson Co. has negotiated the $22.3 million sale of Honey Creek Marketplace in Terre Haute, about 80 miles southwest of Indianapolis. The 107,733-square-foot shopping center is located at 4428 S. U.S. Highway 41. The property, built in 2015, is fully leased to seven tenants. The anchor tenants are Fresh Thyme Farmers Market and Academy Sports + Outdoors. Mark Lovering of Stan Johnson represented the seller, a Texas-based developer. Christian Tremblay of Stan Johnson represented the buyer, a Wisconsin-based institutional investor.
FALLBROOK, CALIF. — Gerrity Group has completed the disposition of Fallbrook Mercantile Center, a 70,411-square-foot retail center in Fallbrook. A private investor acquired the asset for $27.2 million. Major Market anchors the property, which is situated on 6.5 acres at 713, 825, 833 and 835-855 S. Main Ave. At the time of sale, the property was 96.8 percent occupied. Other tenants include Anytime Fitness, Denny’s, Sherwin-Williams, H&R Block, Jersey Mike’s Subs, Burger King, United Studios of Self Defense, Bella Dental Group and Pho House and Grill. Gleb Lvovich, Bryan Ley and Daniel Tyner of JLL Retail Capital Markets represented the seller in the deal.
LONG BEACH, CALIF. — DJM, in partnership with PGIM Real Estate, has purchased Long Beach Exchange, an open-air lifestyle property in Long Beach, from Burnham-Ward Properties for an undisclosed price. Built in 2018, the 26-acre Long Beach Exchange features 246,500 square feet of retail space. Current tenants include Whole Foods Market, Handel’s, Orange Theory, Ra Yoga, Silverlake Ramen, Ulta and Nordstrom Rack. Eastdil brokered the transaction.
CITRUS HEIGHTS, CALIF. — Citivest Commercial Investments has completed the disposition of four parcels of SummerHills Plaza, an approximately 135,000-square-foot, grocery-anchored shopping center in Citrus Heights. Ethan Conrad Properties acquired the parcels for $16.7 million, or $155 per square foot. Originally constructed in 1967 and refurbished in 2020, the property is occupied by Raley’s, Dollar Tree, Round Table Pizza and Dutch Bros. Coffee. Bill Rose of Institutional Property Advisors, a division of Marcus & Millichap, and Edward Nelson and Wyatt Figeroa of Marcus & Millichap represented the seller and procured the buyer in the transaction.
HAZLETON, PA. — Metro Philadelphia-based brokerage firm Legend Properties Inc. has arranged the sale of Church Hill Mall, a 168,000-square-foot retail property in Hazleton, located roughly midway between Scranton and Allentown. The property sits on 14 acres and was 92 percent leased at the time of sale to tenants such as Ollie’s Bargain Outlet, Family Dollar and Firestone. James Smith of Legend Properties brokered the deal. The new ownership, an entity doing business as 1065 Church Street Properties LLC, plans to invest about $2 million in capital improvements and rebrand the property as Church Hill Commons.