Hanley Investment Group Brokers $7.4M Sale of Three Taco Bell-Occupied Properties in Missouri, Iowa

MISSOURI AND IOWA — Hanley Investment Group Real Estate Advisors has brokered the sale of three single-tenant, net-lease properties occupied by Taco Bell in Missouri and Iowa for $7.4 million. The assets sold to three separate buyers.The seller for the two Missouri properties was a San Francisco Bay area-based private investment company. Jeff Lefko, Bill Asher and Beau Velten of Hanley and Jeff Christian of First Street Brokerage, in association with ParaSell Inc. represented the …

September 29, 2021Acquisitions, Iowa, Midwest, Missouri, Restaurant, Retail

Macerich Co. Sells La Encantada Lifestyle Center in Tucson for $165.2M

TUCSON, ARIZ. — Macerich Co. has completed the disposition of La Encantada, an open-air lifestyle center in Tucson. A group of local investors acquired the property for $165.2 million. JLL Capital Markets arranged a $102 million acquisition loan for the buyer.Completed in 2003, La Encantada offers 246,256 square feet of retail space. At the time of sale, the property was 93 percent leased. Current tenants include Crate & Barrel, Tiffany & Co., West Elm, Anthropologie, Athleta, …

September 23, 2021Acquisitions, Arizona, Restaurant, Retail, Western

Prodigy Burger Bar, Big Bear Biscuits Sign Leases at Lakefront at Keystone in Indianapolis

INDIANAPOLIS — Prodigy Burger Bar and Big Bear Biscuits have signed long-term leases to share 10,000 square feet in the former Scotty’s Brewhouse space at 3905 E. 96th St. within Lakefront at Keystone, a Class A office park in Indianapolis. Both restaurants anticipate opening in early 2022.Prodigy Burger Bar, currently owned by O’Reilly’s Holdings LLC, opened its first location in 2017 and now maintains six eateries in Carmel, Geist, Greenwood, Indianapolis, Kokomo and West Carmel. …

September 23, 2021Indiana, Leasing Activity, Midwest, Restaurant, Retail

LJ Mainstreet Holdings Buys Grand Village Center Retail Property in Surprise, Arizona for $5M

SURPRISE, ARIZ. — Boros Investments has completed the disposition of Grand Village Center, a retail property located at 14273 and 14291 W. Grand Ave. in Surprise. LJ Mainstreet Holdings acquired the asset for $5 million.The 25,653-square-foot Grand Village Center is fully leased to eight tenants, including Church for the Nations, Zona Communications, D’Ambrosio, Full Service Salon and Master Taco Restaurant.The buyer also acquired two adjacent undeveloped land parcels from a …

September 23, 2021Acquisitions, Arizona, Restaurant, Retail, Western

Phillips Edison Sells 96,224 SF Atwater Marketplace in Central California

ATWATER, CALIF. — Phillips Edison & Co. has completed the disposition of Atwater Marketplace, a shopping center located at 1601-1853 Bellevue Road in Atwater. A Los Angeles-based private investor acquired the property for an undisclosed price.Kevin Fryman and Eric Wohl of Hanley Investment Group represented the seller, while Brett Visintainer of Visintainer Group of Fresno represented the buyer in the deal.The 96,224-square-foot Atwater Marketplace was 100 percent occupied at the …

September 20, 2021Acquisitions, California, Restaurant, Retail, Western

Marcus & Millichap Brokers Sale of 9,000 SF Retail Property in Farmington, New Mexico

FARMINGTON, N.M. — Marcus & Millichap has arranged the sale of Starbucks Shops at Largo Square, a retail center located at 4337 E. Main St. in Farmington. An unnamed limited liability company sold the asset to an undisclosed buyer. The acquisition price was not released.Austin Snedden, Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller in the transaction. Matthew Reeves, also with Marcus & Millichap, served as broker of record.Starbucks Shops at …

September 17, 2021Acquisitions, New Mexico, Restaurant, Retail, Western

Marcus & Millichap Arranges $8.1M Sale of Retail Property in Phoenix

PHOENIX — Marcus & Millichap has brokered the sale of a retail property located at 5120 and 5110 W. Indian School Road in Phoenix. A limited liability company sold the property to a personal trust for $8.1 million.WSS Shoes and Habit Burger occupy the 13,100-square-foot shopping center, which is across the street from American Family Fields of Phoenix Baseball Park, spring training home to the Milwaukee Brewers.Mark Ruble and Chris Land of Marcus & Millichap’s Phoenix’s …

September 13, 2021Acquisitions, Arizona, Restaurant, Retail, Western

Benderson Development Buys 450,000 SF Power Center Ground Lease in Santa Fe

SANTA FE, N.M. — Benderson Development has acquired two tracts of land ground-leased to Plaza Santa Fe, a 450,000-square-foot power center in Santa Fe. Truzaf LP sold the asset for an undisclosed price.The leases commenced in two phases, one in 1998 with the region’s only Target store and a newly refurbished Albertsons Market Street, and the second in 2000 with the opening of TJ Maxx, Ross Dress for Less, BestBuy, Michaels and PetSmart.Located at the intersections of Cerrillos Road, …

September 10, 2021Acquisitions, New Mexico, Restaurant, Retail, Western

Cooper’s Hawk Winery & Restaurant to Build 10,000 SF Space at Shoppes of Mid Rivers in Suburban St. Louis

ST. PETERS, MO. — Cooper’s Hawk Winery & Restaurant has purchased a nearly two-acre site at The Shoppes of Mid Rivers in St. Peters, a northwest suburb of St. Louis. Construction is scheduled to begin immediately on the 10,000-square-foot restaurant and bar with a planned opening for next spring. This will be the third Missouri location for Downers Grove, Ill.-based Cooper’s Hawk.GBT Realty Corp. owns The Shoppes of Mid Rivers, which was completed in 2019. The 270,000-square-foot …

September 9, 2021Development, Midwest, Missouri, Restaurant, Retail

SRS Brokers $5.5M Ground-Lease Sale of Raising Cane’s-Occupied Property in Barstow, California

BARSTOW, CALIF. — SRS Real Estate Partners’ National Net Lease Group (NNLG) has arranged the $5.5 million ground-lease sale of a retail building located at 2620 Fisher Blvd. in Barstow. Starboard Realty Advisors sold the asset to a Los Angeles-based private investor.Raising Cane’s Chicken Fingers occupies the property, which is situated on 1.25 acres and features a double drive thru. The building was constructed in 2020 and the restaurant opened for business in May 2021. The asset has …

September 3, 2021Acquisitions, California, Net Lease, Restaurant, Retail, Western