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AcquisitionsLoansNevadaRestaurantRetailWestern

JLL Capital Markets Arranges $41.2M Sale of Craig Marketplace in Las Vegas

by Amy Works

LAS VEGAS — Gerrity Group has sold Craig Marketplace, a 119,280-square-foot retail center in Las Vegas, for $41.2 million. Gleb Lvovich and Daniel Tyner of JLL Capital Markets represented both Gerrity and the California-based buyer in the 1031-exchange transaction. John Marshall, Jordan Leake and Carl Beardsley, also of JLL, secured acquisition financing on behalf of the buyer. Anchored by Albertsons, the center was 94.5 percent leased at the time of sale to tenants including Jack in the Box, Popeyes Louisiana Kitchen, Starbucks Coffee and Subway. Situated at 7101-7181 W. Craig Road, the property was built in 2002.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Arranges Sale of 186,809 SF Retail Center in Fitchburg, Massachusetts

by Taylor Williams

FITCHBURG, MASS. — Atlantic Capital Partners, a division of Boston-based Atlantic Retail, has arranged the sale of John Fitch Plaza, a 186,809-square-foot retail center in Fitchburg, located in the northern-central part of the state. Anchored by Cinema World and The Paper Store, the property was 79 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder represented the buyer and seller, both of which requested anonymity, in the transaction.

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AcquisitionsIndianaMidwestRetail

Hanley Investment Group Arranges Sales of Three Restaurant Properties in Indiana Totaling $9M

by Kristin Harlow

GREENFIELD, IND. — Hanley Investment Group Real Estate Advisors has arranged the sales of three restaurant properties in Greenfield, an eastern suburb of Indianapolis. Dylan Mallory of Hanley and Jacque Haynes of Midland Atlantic Properties represented the seller and developer, Indianapolis-based Midland Atlantic Properties, in all three transactions. All three properties are part of a new development named Greenfield Market. In the first sale, a 2,616-square-foot building occupied by Chipotle Mexican Grill sold to a Simi Valley, Calif.-based private investor for $2.9 million. The property features a mobile order drive-thru lane. David Leibowitz of IREA Inc. represented the buyer. In the second transaction, a 3,500-square-foot property occupied by Panera Bread sold to a Hillsborough, Calif.-based private investor for $2.9 million. The building features two drive-thru lanes. Jeff Ida and Doug Ogard of Marcus & Millichap represented the buyer. In the third sale, a 4,500-square-foot Chick-fil-A ground lease sold for $3.1 million to a Dallas-based private investor, who was self-represented.

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Leasing ActivityNortheastPennsylvaniaRetail

Without A Cue to Open 3,346 SF Dinner Theater in Philadelphia

by Taylor Williams

PHILADELPHIA — Without A Cue, an entertainment concept that centers on dinner theaters and murder mysteries, will open a 3,346-square-foot venue in Philadelphia. The space will be located within The Curtis, a 912,245-square-foot adaptive reuse building in Washington Square West that is owned by Keystone Development + Investment. Veronica Blum and Alex Snyder of MPN Realty represented Keystone in the lease negotiations. Joe Scarpone, also with MPN Realty, represented Without A Cue, which will open in late fall.

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Leasing ActivityRetailTexas

Northern Tool, AutoZone Sign Retail Leases Totaling 39,357 SF in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS  — Northern Tool + Equipment and AutoZone have signed retail leases totaling 39,357 square feet in McKinney, about 35 miles northeast of Dallas. The tenants will backfill a space previously occupied by Super 1 Foods with footprints of 22,500 and 16,857 square feet, respectively. William Rosatti represented the landlord, JAH Realty, in the lease negotiations on an internal basis. Clay Mote of Retail Union and Mack House of Westover Group represented Northern Tool and AutoZone, respectively.

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LoansNew YorkNortheastRetail

Axiom Capital Arranges $13.2M Refinancing of Upstate New York Retail Center

by Taylor Williams

EAST GREENBUSH, N.Y. — Commercial finance and advisory firm Axiom Capital Corp. has arranged a $13.3 million permanent loan for the refinancing of a retail center in East Greenbush, roughly six miles southeast of Albany. The 301,894-square-foot property comprises six separate buildings and was leased to 16 tenants at the time of the loan closing. The names of the borrower, a development and management firm, and direct lender, a local bank, were not disclosed.

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AcquisitionsNorth CarolinaRetailSoutheast

ShopOne Centers REIT Purchases Grocery-Anchored Shopping Center in Cary, North Carolina

by John Nelson

CARY, N.C. — ShopOne Centers REIT Inc., a privately held retail real estate investor and owner based in New York City, has purchased Shoppes on the Parkway in Cary. Located 10 miles west of downtown Raleigh, the 40,000-square-foot property was 96 percent leased at the time of sale to tenants including The Fresh Market. ShopOne acquired the grocery-anchored center in a joint venture with Pantheon and an unnamed global institutional investor. The seller and sales price were not disclosed.

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AcquisitionsKansasMidwestRetail

Blue West Capital Arranges $9M Sale of Grocery-Anchored Shopping Center in Salina, Kansas

by Kristin Harlow

SALINA, KAN. — Blue West Capital has arranged the $9 million sale of Sunset Plaza in Salina, a city in central Kansas. Dillons, a division of Kroger, anchors the 126,606-square-foot shopping center. The Dillons store was remodeled in 2019 and a fuel center was added in 2020. Originally constructed in 1960, Sunset Plaza was nearly fully leased at the time of sale. Robert Edwards, Zach Wright and Shawn Dickmann of Blue West Capital represented the seller, a Kansas-based private equity real estate company. The property sold at 97 percent of the asking price to a Denver-based buyer completing a 1031 exchange.

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AcquisitionsMidwestOhioRetail

Marcus & Millichap Brokers $3.7M Sale of Retail Property in Suburban Columbus

by Kristin Harlow

GAHANNA, OHIO — Marcus & Millichap has brokered the sale of an 8,464-square-foot retail property in the Columbus suburb of Gahanna for $3.7 million. The property, which was 85 percent leased at the time of sale, is home to City BBQ and WesBanco Bank. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap brokered the transaction. Both the buyer and seller were private, out-of-state investors. The asset sold at 96 percent of the list price, which equates to a cap rate of 6.5 percent.

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AcquisitionsIowaMidwestRetail

JLL Arranges $27.5M Sale of Lakeport Commons Shopping Center in Sioux City, Iowa

by Kristin Harlow

SIOUX CITY, IOWA — JLL Capital Markets has arranged the $27.5 million sale of Lakeport Commons in Sioux City, a city in Northwest Iowa. The 202,880-square-foot shopping center is 95 percent leased. Aldi and Ross Dress for Less recently signed 10-year leases to open at the property. Additional tenants include Five Below, Old Navy, PetSmart, Michaels, Boot Barn, Shoe Carnival, Staples and a separately owned Kohl’s. Amy Sands, Clinton Mitchell, Michael Nieder and Marcus Pitts of JLL represented the seller, The RH Johnson Co. A Midwest-based private investor purchased the asset.

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