PHOENIX — Lena Centers, a subsidiary of Longpoint Partners, has purchased Stetson Village, a grocery-anchored shopping center at 3780-3890 W. Happy Valley Road in Phoenix, from Pederson Group for $71 million. Ryan Schubert, Michael Hackett and Zach Aulick of CBRE represented the seller and buyer in the transaction. Built in 2007, the 144,192-square-foot Stetson Village is fully occupied by a variety of tenants, including Capriott’s, Nekter Juice Bar, UPS Store, First Watch and Great Clips.
AURORA, COLO. — JLL has directed the sale of Parkside Collective, a three-building retail strip center in Aurora. Parkside Aurora LLC sold the asset to a partnership of Spark & Halo, Two Arrows Group and OlivePoint Capital for an undisclosed price. Constructed in 2021, the 24,985-square-foot property was 86 percent leased at the time of sale. Current tenants include Five Guys, Cheba Hut and Einstein Bros. Bagels. The retail center is part of a larger mixed-use development that includes a 216-unit apartment complex. Jason Schmidt and Austin Snedden of JLL represented the seller in the deal.
DIAMOND BAR, CALIF. — Hanley Investment Group Real Estate Advisors and Oaks Commercial Real Estate have brokered the sale of a multi-tenant retail pad property located at 22438 Golden Springs Drive in Diamond Bar. A Las Vegas-based private partnership acquired the asset from a Los Angeles-based private non-exchange investor for $4.6 million. Starbucks Coffee, Jimmy John’s and Crumbl Cookies fully occupy the 4,767-square-foot property, which was built in 2016. Bill Asher and Jeff Lefko of Hanley Investment Group, along with Fred Encinas of Oaks Commercial Real Estate in Eastvale, Calif., represented the seller, while Arman Mahmoodi of BeachRock Group at Keller Williams in Beverly Hills, Calif., represented the buyer in the transaction.
ST. LOUIS PARK, MINN. — KPR Centers, a New York-based retail real estate development and investment group, has acquired Shoppes at Knollwood, a 451,700-square-foot grocery-anchored shopping center in the Minneapolis suburb of St. Louis Park. The property is nearly 99 percent leased and anchored by Cub Foods, DSW, HomeGoods, Nordstrom Rack, Old Navy, Total Wine & More, TJ Maxx and Ulta Beauty. Christian Williams, Richard Frolik and Michael Wilson of CBRE represented the seller. Delivered in 1955 as Knollwood Mall, the asset has undergone several renovations over the decades, including its transformation into an enclosed mall in 1980. The center reverted to its open-air design in 2015 through a $30 million investment. KPR now owns and self-manages approximately 10 million square feet of retail space in 20 states. This purchase signals the owner’s entry into the Minnesota market. Over the last 18 months, KPR has acquired 12 centers totaling nearly 3 million square feet of space for approximately $400 million.
ST. JOHNS, FLA. — SRS Real Estate Partners has arranged the $5.6 million sale of Beachwalk Shoppes, an 8,200-square-foot retail strip center located in St. Johns, a suburb of Jacksonville. The newly constructed retail center is part of the larger 1,200-acre mixed-use Beachwalk project currently under development. The property was fully leased at the time of sale to five tenants: Bagels R Us, Goin’ Postal, Fancy Sushi, Deca Dental and Playa Bowls. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, a national development and investment firm, in the transaction. The buyer was an Atlanta-based private investor. Both parties requested anonymity.
DUNWOODY, GA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4 million in acquisition financing for Dunwoody Village, a 15,382-square-foot retail center located at 1610-1614 Mount Vernon Road in Dunwoody, a suburb of Atlanta. David Johnson of MMCC’s Atlanta office secured the loan with a national bank on behalf of a private client. The five-year loan includes a 6.41 percent interest rate with a 30-year amortization schedule. Shadow-anchored by The Fresh Market and Walgreens, Dunwoody Village features a mix of tenants including CVS Pharmacy, Chipotle Mexican Grill and a pet store.
NEW YORK CITY — New York City-based owner-operator Ashkenazy Acquisition Corp. has purchased The Shops at Atlas Park, a 374,000-square-foot, open-air shopping center in Queens. The Shops at Atlas Park is situated on a 12-acre site at the intersection of Cooper Avenue and 80th Street. Anchored by Regal Cinemas, the center is home to a mix of both national and local operators, as well as an array of food-and-beverage users. Los Angeles-based owner-operator Macerich sold the property in conjunction with an unnamed partner. ACORE Capital provided acquisition financing for the deal.
CONCORD, N.H. — National brokerage firm CrownPoint Partners has negotiated the $7.5 million sale of a 65,868-square-foot, single-tenant retail building in Concord. Grocer Shaw’s has occupied the building since its original construction on a 10.6-acre site in 2001. Julius Swolsky and Shannon Bona of CrownPoint, in association with ParaSell Inc., represented the seller, an affiliate of New Jersey-based investment firm ARCTRUST, in the transaction. Horvath & Tremblay represented the buyer, a Massachusetts-based private investor.
HEBER VALLEY, UTAH — Angstrom Development Group has announced plans for The Slope, a new mixed-use resort project in Heber Valley, roughly 50 miles southeast from Salt Lake City International Airport. Situated along the Provo River, the development will feature an 86-room resort and more than 100,000 square feet of retail space. The Slope will also include 200 hotel-branded residences, which will be available for purchase or for short-term rentals. Residences at the project will be fully furnished, with rentals operated by the hotel brand’s professional management program. In addition to two- and three-bedroom condos located within the hotel, residential units will include four-bedroom, multistory villas. The villas will feature expansive patios and rooftop decks with hot tubs and saunas. Waterways, bike paths and pedestrian alleys will connect the development, and the resort will offer access to skiing, mountain biking, hiking trails, golfing and boating. Austin, Texas-based Angstrom Development Group develops high-end residential, mixed-use and resort projects across premier markets. — Hayden Spiess
WINCHESTER, CALIF. — SRS Real Estate Partners has arranged the sale of a three-tenant retail building within French Valley Marketplace at 35974 Winchester Road in Winchester. A Southern California-based private developer sold the asset to a La Jolla, Calif.-based private investor for $5.9 million. The 7,226-square-foot property is occupied by Panera Bread and Toro Sushi on long-term absolute triple-net leases. The asset also has one available unit. Matthew Mousavi, Patrick Luther and Jack Cornell of SRS Capital Markets represented the seller in the transaction.
