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.
HUNTERSVILLE, N.C. — InvenTrust Properties Corp. has purchased Northcross Commons, a 61,000-square-foot, grocery-anchored shopping center in Huntersville, roughly 14 miles north of Charlotte. InvenTrust acquired the Whole Foods Market-anchored center from Hawthorne Retail Partners for approximately $31 million. Located at 9121 Sam Furr Road, Northcross Commons is situated adjacent to Birkdale Golf Community and Country Club and Birkdale Village, a retail development leased to tenants such as Banana Republic, Williams-Sonoma, Regal Cinemas, Talbots and Barnes & Noble. InvenTrust’s portfolio in metro Charlotte includes Poplin Place in Monroe and Sycamore Commons in Matthews.
CARTERSVILLE, GA. — SRS’ Southeast investment sales team in Atlanta has brokered the sale of Felton’s Crossing, a 112,240-square-foot shopping center located at 879 Joe Frank Harris Parkway in Cartersville. Situated near the southwest corner of the intersection of East Road and Felton Place, Felton’s Crossing is situated on a 10.9-acre parcel and in anchored by Ingles and Planet Fitness. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, Felton’s Associates LLC, in the transaction. The buyer, a private fund, purchased the property for an undisclosed price and was self-represented in the transaction.
LAS VEGAS — TriStar Capital and RFR Holding have sold Miracle Mile Shops, a 501,522-square-foot retail mall located at the Planet Hollywood Resort & Casino in Las Vegas. An affiliate of Institutional Mall Investors LLC, a venture co-owned by Miller Capital Advisory Inc. and CalPERS, acquired the asset for an undisclosed amount. Axis Theatre — home to residency performers Britney Spears and Jennifer Lopez — anchors the center, which is also home to more than a mile of 200 shops, 13 restaurants and three additional live entertainment theaters. The mall also features direct access to Planet Hollywood’s 100,000-square-foot casino. HFF advised the sellers in the transaction.
