RAYTOWN, MO. — Block & Company Realtors has brokered the sale of a 1.28-acre pad site located at the southeast corner of 75th Street and Raytown Road in Raytown, a suburb of Kansas City. Freddy’s Frozen Custard and Steakburgers acquired the site for an undisclosed price. The buyer plans to construct a restaurant on the site, with completion scheduled for early 2017. David Block and Phil Peck of Block & Company Realtors negotiated the transaction. The name of the seller was not released.
NEW YORK CITY — Rosewood Realty Group has brokered the sale of a four-building retail portfolio in the Homecrest neighborhood of Brooklyn. Embkay by Select LLC sold the contiguous buildings to 325 Realty Inc. for $12.1 million. The 19,300-square-foot portfolio comprises 1805-1811, 1815 and 1817 Avenue U and 2073-2075 E. 18th St. Michael Guttman of Rosewood Realty represented the seller, while Guttman and Jacob Setton, also of Rosewood Realty, represented the buyer in the deal.
AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Oak Hill Centre, a 43,261-square-foot retail center in Austin. Michael Buckner and Richard Mireles of Marcus & Millichap represented the seller, a Texas-based limited partnership, and procured the buyer, another Texas-based limited partnership. Built in 1984, Oak Hill Centre is located at the intersection of William Cannon Drive and Highway 290. At the time of the sale, the property was 96.5 percent occupied.
GLASTONBURY, CONN. — Rouse Properties has acquired The Shops at Somerset Square, a lifestyle retail center located in Glastonbury. The HB Nitkin Group sold the property for $42 million. The 115,000-square-foot center is occupied by Francesca’s, Victoria’s Secret, White House Black Market, Chinos, Talbots, Chipotle, Starbucks Coffee, Lux, Bond & Green Jewelers, Max Fish and Max Amore. Additionally, the center features office and medical space.
ELIZABETHTOWN, PA. — HFF has arranged the sale of Market Street Square, a grocery-anchored retail center located at 1605-1641 S. Market St. in Elizabethtown. Nassimi Realty LLC acquired the property free and clear of existing debt for an undisclosed sum. Situated on 18.6 acres, the 169,856-square-foot center is anchored by Weis Markets, Kmart and Dollar General. Additional tenants include Sleepy’s, Sherwin-Williams, Subway and Fulton Bank. Chris Munley, Jose Cruz and Michael DiCosimo of HFF represented the seller, a publicly traded REIT, in the transaction.
HESPERIA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the off-market sale of a multi-tenant retail located at 13325 Main St. in Hesperia. SHA Enterprises Inc. acquired the property from Pacific Development Group for $8.5 million. A new Walmart Supercenter shadow-anchors the 13,940-square-foot property. Pieology Pizzeria, The Habit Burger Grill, Firehouse Subs, Yogurtland, Great Clips, Nutrishop and Metro PCS occupy the property, which was built in 2015. Eric Wohl of Hanley Investment represented the seller, while Patrick Kent, also of Hanley, represented the buyer in the deal.
HOUSTON — CBRE Group Inc. has brokered the sale of West Road Collection, a neighborhood shopping center in Houston, to Hass Holdings LLC for $15 million. CBRE’s Richard Rizika represented the seller, JW Rich Investment Co., and JLL represented the buyer. The shopping center spans 65,798 square feet with a mix of restaurant and service tenants. West Road Collection is 98 percent leased, with an average occupancy rate of 95 percent over the last five years.
WHEATON, ILL. — Mid-America Real Estate Corp. has brokered the sale of Danada Square East, a retail center located at the corner of Butterfield and Naperville roads in Wheaton. LaSalle Investment Management purchased the property for $63.2 million. Whole Foods, Sierra Trading Post, Charter Fitness and Petco anchor the 199,080-square-foot center. Joe Girardi and Ben Wineman of Mid-America Real Estate Corp. represented the seller, Chicago-based Newport Capital Partners, in the deal.
SKOKIE, ILL. — Matrix Financial Partnership has completed the sale of a 38,500-square-foot commercial property located at 3721 Chase Ave. in Skokie. R2 Companies acquired the building for an undisclosed price. The buyer plans to redevelop the building along with others in the area into a mix of retail and industrial uses. Dan Prendergast of Darwin Realty represented the seller, while Aaron Kaplan of Vandon Forbes represented the buyer in the deal.
XENIA, OHIO — Marcus & Millichap has brokered the sale of a retail property located at 537 W. Main St. in downtown Xenia. An out-of-state private buyer acquired the property from a publicly traded REIT for $6.3 million. Constructed in 2009, the 14,550-square-foot building is net leased to Walgreens. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap represented the seller in the transaction.