FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Park Vista Retail, a 16,760-square-foot retail asset in Fort Worth. Joe Santelli and Matthew Sheard of Marcus & Millichap represented the seller a private investor, in the transaction. The duo also procured the buyer, another private investor. Both parties requested anonymity.
DARIEN, CONN. — Brokers+Engineers has arranged the $6.9 million sale of a retail property in Darien. Located at 55 Boston Post Road, the 4,380-square-foot property is currently leased to TD Bank. Brokers+Engineers represented the seller, Chimblo Family Real Estate, in the transaction. The buyer acquired the property as part of a 1031 exchange. TD Bank has seven years remaining on its current lease.
ENFIELD, CONN. — Katz Properties has acquired Freshwater-Stateline Plaza, a 300,588 square foot Costco-anchored shopping center in Enfield. The sales price was undisclosed. Located at 130 Elm St., the property is 96 percent occupied by a 136,000-square-foot Costco, a 50,000-square-foot Dick’s Sporting Goods and a Home Depot. The shopping center was built in in 1972. Enfield is approximately 20 miles north of Hartford.
ROSLYN, N.Y. — Margules Properties has sold an 18,000-square-foot retail building in Roslyn for $4.2 million. Located at 299 Warner Ave., the property is home to 11 retail stores, including Village Pizza, a dry cleaner and a Chinese restaurant. The buyer was Ofer Cohen, a partner in two New York City bars, Café Wha and the Groove in Greenwich Village. Roslyn is approximately 24 miles northeast of Manhattan.
PITTSBURGH — Marcus & Millichap has negotiated the $1 million sale of a 1,900-square-foot retail building in Pittsburgh. The property, which is located at 2065 Ardmore Blvd., is currently occupied by Dunkin’ Donuts through a 15-year triple net lease agreement. Alan Cafiero and Ben Sgambati of Marcus & Millichap represented the seller, limited liability company, in the transaction. The buyer was a private investor.
ATLANTA — CBRE has promoted Chris Bosworth and Will Pike to vice chairman, the highest-ranking title among CBRE producers. Based in the firm’s Atlanta office, Bosworth and Pike serve as partners and co-leaders of CBRE Net Lease Properties, a national practice that provides net lease investors with acquisition and disposition advisory services for single-tenant assets, national net lease portfolios and corporate sale-leasebacks. Over the course of their careers, Bosworth and Pike have executed more than $16 billion worth of assignments spanning more than 2,600 properties. Since 2016, the team has been responsible for the disposition of 720 properties with a value of over $8.2 billion. Bosworth joined the firm in 1999 and is a founding member of Net Lease Properties and the firm’s Corporate Capital Markets practice. Additionally, he is the first retail-focused capital markets professional in the firm’s history to be named vice chairman. Pike, who joined in 2004, is a founding member of Corporate Capital Markets, head of Retail-Occupier Capital Markets and currently serves on the board of CBRE’s Investment Properties and America Brokerage divisions. Pike is the third-youngest CBRE professional to earn the title of vice chairman.
ZEPHYR COVE, NEV. — Dickson Commercial Group (DCG) has arranged the sale of Round Hill Square Shopping Center, a retail property located in Zephyr Cove, near Lake Tahoe. ROIC Zephyr LLC sold the property to an undisclosed buyer for $28 million. Situated on 10.2 acres, the 115,984-square-foot property was 96.8 percent occupied at the time of sale. Tenants include Safeway, United States Postal Service, Wells Fargo, Dollar Tree, Subway, WorldMark by Wyndham and Barton Healthcare Lake Tahoe Surgery Center. Chris Shanks, Dominic Brunetti and Scott Shanks of DCG, along with Tony Bernheim of Carlsbad Capital, represented the seller in the deal.
SAN DIEGO — Carleton Management has completed the sale of an industrial asset located in downtown San Diego’s East Village. A wholly owned subsidiary of Shapery Enterprises acquired the asset for $7 million. The transaction includes a vacant, 12,000-square-foot historical building at 1460 Island Ave. and an 11,000-square-foot light industrial building at 1490 Island Ave. The historic building dates backs to 1907 and was the former Electric Laundry Co. site. The buyer plans to restore the historic building and reposition it for a commercial tenant. The adjoining light industrial building is currently occupied by Crossfit Fortius and Urbana Design Build, a general contractor. Kevin Mulhern and Rachel Parsons of the CBRE Multifamily team represented the seller, while the buyer was self-represented in the transaction.
TUCSON, ARIZ. — Heslin Holdings has acquired a former grocery-anchored retail building, located at 5548 E. Grant Road in Tucson. Albertson’s sold the property for $2.5 million. The 35,000-square-foot property is situated on the southeast corner of Grant and Craycroft roads. Safeway formerly occupied the space. The company plans to invest $1.5 million in development and improvement efforts at the property, which is part of its larger plan to invest $75 million in retail properties over the next year. The property will be remodeled, repositioned and leased to a single retailer, slated to open in 2019.
RICHMOND HEIGHTS, OHIO — DealPoint Merrill has acquired the former Sears store at Richmond Town Square Mall in Richmond Heights, about 13 miles northeast of Cleveland. The 248,000-square-foot Sears store has been vacant since March 2017. DealPoint Merrill plans to redevelop the store into a $70 million project featuring a 375-unit luxury apartment property, a 98-key hotel and 8,000 square feet of restaurant space. Joseph Khouri of CBRE brokered the sale of the Sears store. Sears was the seller. DealPoint Merrill previously purchased the former Macy’s store at the mall with plans to transform it into a self-storage property.