STAMFORD, CONN. — Marcus & Millichap has brokered the $5.5 million sale of a retail center in Stamford. The 8,989-square-foot retail center is located at 1003-1007 High Ridge Road. The tenant roster at the fully leased retail center includes Subway, Vitamin Shoppe, and High Ridge Printing & Copy Center. Mark Krantz and Derrick Dougherty of Marcus & Millichap’s Philadelphia office represented the seller, HRR Investments LLC, in the transaction. The buyer was a private investor based out of White Plains, New York.
BOYNTON BEACH, FLA. — A joint venture between MMG Equity Partners and Global Fund Investments has sold Whitworth Farms, an 88,424-square-foot, Publix-anchored shopping center in Boynton Beach, for $19.4 million. The asset is located at 12425 Hagen Ranch Road, about 11 miles north of downtown Boca Raton. The center was 96.1 percent leased at the time of the transaction. The seller was not disclosed.
TROY, MICH. — Juniper Capital Group has arranged a $10.5 million bridge loan for the acquisition of Cross Creek, a 141,468-square-foot shopping center in Troy. Bob’s Discount Furniture recently signed a lease for the former Babies ‘R’ Us space. Kohl’s also occupies the property. Nate Lowy of Juniper Capital arranged the nonrecourse loan on behalf of the borrower, Weissman Corp. C3 Capital Partners provided the loan.
VERNON HILLS, ILL. — Graycor Construction Co. has completed the retail portion of Mellody Farm, a mixed-use development located in Vernon Hills, about 36 miles north of Chicago. Regency Centers is the owner and developer. The retail portion consists of 12 individual buildings. Each of the shops within the center has a different finish, from precast concrete and steel to masonry. Whole Foods, REI, Nordstrom Rack and HomeGoods anchor the 270,000-square-foot retail space. The first tenants began occupying the space in fall 2018. The developer expects the center to be more than 95 percent leased by this fall.
FREMONT, CALIF. — Gadsden Growth Properties has acquired Mission Hills Square, a mixed-used development in Fremont, for $240 million. Slated for completion in October 2019, Mission Hills Square will feature 158 residential apartments above 53,900 square feet of commercial space, including restaurants, retail and casual eateries. In November 2018, Gadsden Growth Properties signed an agreement to merge with FC Global Realty Inc.
ROANOKE, VA. — BC Wood Properties has acquired Ivy Market, a 31,073-square-foot shopping center situated about three miles south of downtown Roanoke. The asset is occupied by Earth Fare, First Watch and a soon-to-open CoreLife Eatery. The seller and sales price were not disclosed.
TORRANCE, CALIF. — CalBay Development has acquired a freeway-oriented land site located at the northwest corner of 190th and Western avenues in Torrance. Irvine, Calif.-based Sares-Regis sold the 5.3-acre development site for $12 million. CalBay plans to develop the site into hotel, health club, retail and/or restaurant uses. The site was part of a 110-acre Toyota Headquarters, which was recently vacated. The campus comprises 18 buildings with more than 2 million square feet of office and industrial space. The campus served as Toyota’s North American headquarters since 1967 until it was sold to a partnership led by Sares-Regis. Jeff Adkison and Geoff Tranchina of JLL arranged the transaction.
ORLANDO, FLA. — Retail Value Inc. (RVI) has sold the fully leased Millenia Plaza, a 411,503-square-foot power retail center in Orlando, for $56.4 million. North American Development Group purchased the center, which is located at 4403-4697 Millenia Plaza Way. Millenia Plaza is located about six miles southwest of downtown Orlando and features Interstate 4 visibility. Tenants include Home Depot, BJ’s Wholesale, Ashley’s Furniture, Dick’s Sporting Goods, Total Wine & More, Ross Dress for Less, David’s Bridal, Five Below, Visionworks, Millenia Nail Lounge and Mattress Firm. Brad Peterson, Whitaker Leonhardt and Tommy Isola of HFF represented RVI, which is a subsidiary of SITE Centers Inc., in the transaction.
MADISON HEIGHTS, MICH. — Gerdom Realty & Investment has brokered the sale of a single-tenant retail property net leased to Sprint in Madison Heights for an undisclosed price. The 3,038-square-foot building is located at the southwest corner of 12 Mile and Dequindre roads. Michael Murphy and Tjader Gerdom of Gerdom Realty marketed the property for sale and procured the buyer, a local investor.
RED BLUFF, CALIF. — SRS Real Estate Partners’ National Let Lease Group has directed the sale of a single-tenant retail property in Red Bluff. A Southern California-based family trust acquired the property from a Northern California-based private investor for $2.5 million. Dollar General occupies the 9,026-square-foot property, which is located at 755 Walnut St. The tenant has approximately 10 years remaining on its initial 15-year lease term. Jim Schuchert and Joe Schuchert of SRS’ National Let Lease Group represented the seller, while Bryan Miller of Lee & Associates represented the buyer.