CYPRESS, TEXAS — Weitzman has negotiated a trio of leases at Fry Springs Plaza, a 14,112-square-foot neighborhood retail center in the northwestern Houston suburb of Cypress. Cavity Patrol Pediatric Dentistry leased 2,275 square feet; Bastion Martial Arts signed a deal for 2,830 square feet; and Oasis Nail Bar committed to 2,100 square feet. Kyle Knight with Weitzman handled negotiations as the leasing agent for Fry Springs Plaza.
NORWICH, CONN. — Boston-based national retail brokerage firm Horvath & Tremblay has arranged the $4.5 million sale of Chipotle Plaza, a 6,466-square-foot retail center in Norwich, located in the southern coastal part of the state. Tenants include Chipotle Mexican Grill, Supercuts, T-Mobile and You Break I Fix. Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay represented the buyer and seller, both of which requested anonymity, in the transaction.
BUFORD, GA. — Hanley Investment Group has arranged the sale of Holland Point, a 68,187-square-foot, Publix-anchored neighborhood shopping center in Buford. Ed Hanley and Kevin Fryman of Hanley Investment Group, along with ParaSell Inc., represented the 1031 exchange buyer, a private investor based in Norco, Calif. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Atlanta-based Watkins Real Estate Group, which sold the property for $20.1 million. Located on a 16-acre site at 4108 Hamilton Mill Road, Holland Point was built in 2020 at the intersection of Hamilton Mill and Bogan roads near Interstate 985. Publix takes up 48,387 square feet at Holland Point and includes a drive-thru pharmacy. The fully leased property’s other tenants include Great Clips, Buford Smile Dental Care, Mathnasium of Buford, City Nail & Spa, Bravos Cantina Grill, Nagoya Restaurant, Johnny’s New York Style Pizza and Express Vets. Hanley Investment Group recently worked with the buyer to acquire two other grocery-anchored shopping centers in the Atlanta metro area, including Alpharetta Commons, a 94,500-square-foot, Publix-anchored shopping center in Alpharetta, and Cofer Crossing, a 136,139-square-foot shopping center anchored by Kroger and HomeGoods in Tucker.
UNION CITY, GA. — SRS Real Estate Partners has arranged the sale of Shannon Crossing, a 101,174-square-foot, Kroger-anchored shopping center located in Union City, about 17.9 miles south of downtown Atlanta. Forge Real Estate Partners III LP, a joint venture between Rancho Sante Fe, Calif.-based Forge Capital Partners and St. Petersburg, Fla.-based The Sembler Co., sold the property for $19.4 million to an Atlanta-based entity doing business as Flesh and Soul Enterprises LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. The buyer was self-represented. Located at 4550 Jonesboro Road, the property is situated adjacent to Interstate 85. Kroger has anchored Shannon Crossing for over 41 years. About 97 percent occupied at the time of sale, Shannon Crossing has a tenant roster that includes Advance Auto Parts, Chase Bank, T-Mobile, The UPS Store, Papa John’s and J.R. Crickets.
EVANS, GA. — The Palomar Group has brokered the $2.3 million sale of a Starbucks-occupied retail property located at 3104 William Few Parkway in Evans. The buyer was an investor based in Aiken, S.C., and the seller was an investor based in Augusta, Ga. The Palomar Group was the only broker involved in the transaction. Built in 2021, the retail property spans 2,500 square feet. Starbucks has a 10-year lease and no termination clause at the property. The store is an outparcel of a Publix-anchored shopping center and is located next to a CVS/pharmacy and Mi Rancho Mexican restaurant.
PRAIRIEVILLE, LA. — SRS Real Estate Partners has arranged the $2.6 million ground-lease sale of a McDonald’s-occupied, 4,268-square-foot retail property located at 15022 Airline Highway in Prairieville, about 22.9 miles south of Baton Rouge. Newly built, the property includes a drive-thru and is situated on 1.4 acres near Interstate 10. The McDonald’s is slated to open by late September. The sale had a record low cap rate. Matthew Mousavi, Patrick Luther and Sabrina Kortlandt of SRS represented the seller, a Baton Rouge-based private investor who has owned the land for more than 60 years. Jeff Li of Colliers International represented the buyer, a private family trust based in California. The newly executed McDonald’s lease has a 20-year term. The property has nearby tenants including Walmart, Lowe’s Home Improvement, Petco and Family Dollar.
DUBUQUE, IOWA — JLL Capital Markets has arranged the sale of Warren Plaza in Dubuque for an undisclosed price. Anchored by Hy-Vee, the shopping center spans 91,588 square feet. Originally completed in 1979, the Hy-Vee store was expanded in 1994 and 2013. Other tenants include UPS, SuperCuts, Jersey Mike’s, Miracle Ear, Grand River Medical Group and OneMain Financial. Clinton Mitchell, Amy Sands, Michael Nieder, Kirstey Lein and Marcus Pitts of JLL represented the seller, The DESCO Group. A Midwest-based private investment fund was the buyer.
CERRITOS, CALIF. — Pinnacle Real Estate Advisors has brokered the sale of a retail center located at 12221-17312 Norwalk Blvd. in Cerritos. The asset traded for $14.8 million. The names of the seller and buyer were not released. Situated 19 miles south of downtown Los Angeles, the 52,382-square-foot property is anchored by a grocery store. Peter Sengelmann, Eric Diesch and Jackson Coon of Pinnacle Real Estate Advisors represented the seller in the deal.
NEW YORK CITY — WHP Global, the parent company of Toys ‘R’ Us, has entered into an agreement with Macy’s (NYSE: M) to open more than 400 toy stores within the department store chain’s existing locations across the country in 2022. In addition to physical merchandise, the new stores will feature interactive experiences and activation centers to enhance the experience for both children and parents. The Wayne, New Jersey-based toy retailer originally announced its intent to close or sell off all of its 700-plus U.S. stores in 2018. New York City-based WHP Global acquired the controlling stake of TruKids Inc., the former owner of Toys ‘R’ Us, in March with plans to reopen some stores.
PHILADELPHIA — Paramount Realty Services has sold Northeast Town Center, a 500,000-square-foot retail power center located at 4600 Roosevelt Blvd. in northeast Philadelphia. Walmart and Home Depot anchor the property, which was originally built in 1996. Other tenants include Old Navy, Ross Dress for Less, DD’s Discount, PetSmart, Pep Boys and Dollar Tree. Brad Nathanson of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the transaction. The buyer was not disclosed.