TULARE, CALIF. — Faris Lee Investments has arranged the sale of a three-tenant net-leased investment asset located within Tulare Pavilion Shopping Center in Tulare. Hillman Tulare LLC sold the property to an undisclosed buyer for $6.8 million. Totaling 62,500 square feet, Big Lots, Dollar Tree and Harbor Freight Tools occupy the property. Additional tenants at Tulare Pavilion Shopping Center include Ross Dress for Less and dd’s Discounts. Jeff Conover and Donald MacLellan of Faris Lee Investments represented the seller in the transaction.
MCALLEN AND CORPUS CHRISTI, TEXAS — Hilco Real Estate LLC has brokered the sale of two retail assets totaling 28,300 square feet in South Texas. The first property is a 14,500-square-foot building located in the Rio Grande Valley city of McAllen, and the second is a 13,800-square-foot building in Corpus Christi. The buyers and sellers were not disclosed.
ROSSFORD, OHIO — Eidi Properties has acquired Crossroads Centre and Rossford Pointe near Toledo for an undisclosed price. RPT Realty, a publicly traded real estate investment trust, was the seller, according to The Blade, Toledo’s daily newspaper.Crossroads Centre is a 470,225-square-foot power center anchored by Target and Home Depot. Rossford Pointe spans 47,477 square feet. Toledo-based Eidi Properties now owns 40 shopping centers.
CHICAGO — Thor Equities Group has sold its two-level retail property at 36 S. State St. in Chicago for $26 million. Jenel Management Corp. purchased the asset. Verizon, T-Mobile and Blick Art Materials fully occupy the 18,800-square-foot property. Thor Equities purchased the entire 19-story building for $10.3 million in 2004, before selling the upper floors to a developer for conversion to residential condominiums.
TAYLORVILLE, ILL. — Adelphia Properties has brokered the $4.4 million sale of a single-tenant property net leased to CVS Pharmacy in Taylorville, about 25 miles southeast of Springfield. The 13,255-square-foot building is located at 401 N. Webster St. George Spirrison and Simeon Spirrison of Adelphia represented the buyer, a private investor. CVS has more than 22 years remaining on its lease.
EVERETT, WASH. — JKL Real Estate Investment LP has acquired Everett Mall Way Plaza, a retail complex located at 500 S.E. Everett Mall Way in Everett. Robinson Properties & Investments sold the two-building asset for $6.2 million. Everett Mall Way Plaza features 30,000 square feet of retail space. XinXin Li of Colliers International and Godwin Moy of DBW Private Brokerage represented the buyer in the transaction.
UPLAND, CALIF. — SRS Real Estate Partners has signed three additional tenants to Mountain Green Shopping Center, located at 357 S. Mountain Ave. in Upland. A 20,390-square-foot ALDI will anchor the retail center under a 15-year lease. Optima Salons and Pathway Vet Alliance signed 10-year leases for 3,800 square feet and 2,100 square feet, respectively. Additional tenants at Mountain Green include Dunkin’ Donuts, GNC, CVS/pharmacy, Michaels, Sprint, Sally Beauty and Jersey Mike’s Subs, among others. Terrison Quinn, Casey Mahony and Adam Handfield of SRS represented the landlord, DMP Properties, while Jason Gordon of Epsteen & Associates represented ALDI. Karen Sunday represented Optima Salons and Ryan Gast of CBRE represented Pathway Vet Alliance in the lease transactions.
JERSEY CITY, N.J. — Marcus & Millichap has brokered the $3.6 million sale of a net-leased BP gas station in Jersey City. The property is located at 1505 John Fitzgerald Kennedy Blvd., directly off I-78, a major highway connecting Pennsylvania, New Jersey and New York. Preet Sabharwal, Dan Corcoran and Michael Grunberg of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the transaction. The buyer was also undisclosed.
THE WOODLANDS, TEXAS — Moviehouse & Eatery will open an 11-screen theater within Creekside Park Village Center, a 12-acre retail development by The Howard Hughes Corp. (HHC) in The Woodlands, about 30 miles north of Houston. The 42,370-square-foot venue, which will be the company’s first in the Houston area, will offer recliner seats, a full bar and a scratch kitchen. Chris Reyes of SHOP Cos. represented Moviehouse & Eatery in the lease negotiations. Rip Reynolds represented HHC internally. Construction of Creekside Park Village Center will begin this month with completion slated for winter 2019.
SAINT CHARLES, ILL. — Faris Lee Investments has brokered the sale of Main Street Commons in suburban Chicago for $16.7 million. The 171,564-square-foot shopping center is situated on 20 acres. At the time of the sale, the property was 85 percent leased to tenants such as Ross, TJ Maxx, Five Below, Ulta and Cost Plus. Rick Chichester, Donald MacLellan and Shaun Riley of Faris Lee represented the seller, Sabal Financial Group LP. The buyer was not disclosed.