MCKINNEY, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of Virginia Commons, a 13,878-square-foot retail strip center in the northern Dallas suburb of McKinney. The property was built in 2007. Hudson Lambert of STRIVE represented the seller, a locally based investor, in the transaction. The name and representative of the buyer were not disclosed.
MERIDIAN, IDAHO — Wood Investments Cos. has purchased CentrePoint Marketplace, a community shopping center located on 19.3 acres at 3319 N. Eagle Road in Meridian. Built in 2007, the 197,288-square-foot property was fully occupied at the time of sale. Tenants include Kohl’s, Dick’s Sporting Goods, Walgreens, Qdoba Mexican Eats, Panera Bread, Wingers Restaurant & Alehouse, Downeast Home, Hobby Lobby, Moxie Java and 360 Wireless. Chad Moore of Salt Lake City-based Mountain West Commercial Real Estate represented the buyer. The seller was Centrepoint Marketplace LLC, a Utah limited liability company.
BOURBONNAIS, ILL. — Hanley Investment Group Real Estate Advisors has negotiated the $4.3 million sale of a newly constructed retail building at Bradley Commons, a Walmart-anchored shopping center in Bourbonnais. The 9,723-square-foot building is fully leased to Jersey Mike’s Subs, Midwest Express Clinic, AT&T and uBreakiFix. Built in 2018, the property is home to its original tenants. Jeff Lefko and Bill Asher of Hanley, in conjunction with ParaSell Inc., represented the seller, Cincinnati-based Midland Atlantic Properties. A Des Moines-based private investor was the buyer.
INDEPENDENCE, MO. — A Block & Co. Inc. Realtors investment group has repurposed a former FedEx facility in Independence into multi-tenant retail space. Block acquired the 8,385-square-foot property, located at 3721 Noland Road, in March 2020. It now features four tenant spaces, three of which have been leased to Little Caesars, Cricket Wireless and Grassroots Dispensary. The project also included the construction of a new parking lot and building façade. Phil Peck and Marshal Blount of Block led the investment group.
STEUBENVILLE, OHIO — Mohr Capital, a Dallas-based, privately held real estate investment firm, has sold a ground lease occupied by Texas Roadhouse in Steubenville, nearly 40 miles west of Pittsburgh. The sales price was undisclosed. The restaurant property is located across the street from Fort Steuben Mall. Mohr acquired the ground lease in 2019 upon the launch of its retail acquisition and redevelopment division. Rob Solls of Mohr represented the company on an internal basis. The Mansour Group procured the buyer, a private investment company. Texas Roadhouse maintains over 630 restaurants in 49 states and 10 countries worldwide. The Steubenville location is a corporate-owned restaurant.
CERES, CALIF. — Yosemite Properties has completed sale of Whitmore Plaza, a shopping center located at 2517-2617 Mitchell Road and 2908-2920 E. Whitmore Ave. in Ceres. Save Mart Portfolio Owner NLP CA LLC acquired the asset from Yosemite Properties for $18.4 million. Save Mart grocery store and Planet Fitness anchor the 115,396-square-foot property. Greg Aguirre of Sacramento-based Capital Rivers Commercial and Jeff Lefko of Corona Del Mar-based Hanley Investment Group Real Estate Advisors represented the seller in the deal.
LANSING, MICH. — Kohan Retail Investment Group has acquired Lansing Mall in Michigan for an undisclosed price. The 706,925-square-foot regional mall is located at 5330 W. Saginaw Highway in Lansing. Tenants include JC Penney, Regal Cinemas, Best Buy, Barnes & Noble, TJ Maxx and Shoe Carnival. CBRE’s National Retail Partners Midwest team represented the seller, Brookfield Properties Group.
DENTON, TEXAS — Phillips Edison & Co., a Cincinnati-based retail owner and developer, has acquired Hickory Creek Plaza, a 28,134-square-foot shopping center in the North Texas city of Denton. Shadow-anchored by Kroger, the center is leased to tenants such as Papa Murphy’s Pizza, Great Clips, H&R Block, Mathnasium, ATI Physical Therapy, Envy Nail Spa, Good Morning Donuts and Pizza Hut. The seller was not disclosed.
CANTON, OHIO — The Cooper Commercial Investment Group has negotiated the $1 million sale of Pleasant View Commons in Canton, just south of Akron. The Aldi-anchored shopping center was 49 percent occupied at the time of sale. Dan Cooper and Bob Havasi of Cooper represented the seller, a private investment group based in Ohio. A private investor from Nevada purchased the asset.
SEATTLE — A partnership between Hatteras Sky, Trent Development and Cresset Diversified Real Estate Capital has broken ground on Hilite, a mixed-use apartment community located at 622 Rainier Avenue in Seattle’s Judkins Park neighborhood. The project’s name is a nod to the West Coast Printing Building that previously operated on the same site as the new development. Slated to open in 2023, Hilite will feature 206 units above approximately 5,200 square feet of ground-floor retail space. The property will participate in Seattle’s Multifamily Tax Exemption program, which requires that 20 percent of the units be dedicated as affordable. WG Clark Construction is serving as general contractor and Studio 19 is serving as the architect. Blanton Turner will serve as the property management team.