MGM Resorts cashed in on its real estate holdings to fund sports betting and casino development in Japan, selling its 12-property MGM Growth Properties arm to Vici Properties for $17.2 billion. Vici owns 28 casinos, 17,800 hotel rooms and more than 200 restaurants, bars, nightclubs and sportsbooks.

A private equity firm sold adjacent regional shopping centers Southport Plaza and Indian Trail Plaza, both pictured at top, in Kenosha, Wisconsin. Anchored by Kohl’s, Fresh Thyme and Hobby Lobby, they comprise 407,367 square feet and sold for $43.5 million to a high-net-worth private buyer. Marcus & Millichap Institutional Property Advisors represented the seller and buyer and helped the buyer secure permanent bank financing at 76% loan to value. Junior-box tenants include The Room Place, OfficeMax, Petco, Fresenius Kidney Care, Party City, Dollar Tree and Five Below.

The 79,500-square-foot property Dynasty Shopping Center in Los Angeles’ Chinatown traded for $29.5 million in a court-ordered sale. Lee & Associates represented the seller.

A partnership managed by Pine Tree sold the 264,000-square-foot, Kohl’s-anchored Hazel Dell Towne Center in Vancouver, Washington, to Transnational Management for $28.8 million. CBRE represented the seller. Tenants include Craft Warehouse, Gold’s Gym, Massage Envy, Office Depot, Party City and Petco.

GBT Realty Corp. sold West Allis Center in West Allis, Wisconsin, to L2 Partners for $22.5 million. Kohl’s and Pick ‘n Save anchor the 259,962-square-foot property.

Armstrong Capital Development acquired adjacent centers The Plant Shops North and South in Chandler, Arizona, for $18.3 million. The centers total 30,820 square feet, and tenants include AT&T, Barre3, Dunkin, Tryst Cafe and Zoyo Yogurt. Newmark represented the seller.

Cambridge Savings Bank sold the 203,049-square-foot Quarry Square Shopping Center in Milford, Massachusetts, to R.J. Kelly for $16.4 million. The center has two anchor spaces recently vacated by Stop & Shop and T.J.Maxx.

In a sale-leaseback, Fundamental Income Properties purchased a 15,204-square-foot box in Alpharetta, Georgia, and a 25,486-square-foot box in Knoxville, Tennessee — from La-Z-Boy licensee Thomas DeGoey for $16.25 million. Both have long-term leases in place with La-Z-Boy. Velocity Retail Group represented the seller.

Tricera Capital purchased the ground-floor retail space in St. Petersburg, Florida’s Icon Central mixed-use property, as well as the entire adjoining Union Trust Bank building, from Related for $11.1 million. The ground-floor retail space and historic bank building encompass nearly 35,000 square feet of rentable space. About 7,000 square feet is leased to BurgerFi and Watts Dental.

Exchangeright Net-Leased Portfolio 49 DST sold the 113,742-square-foot North Heights Plaza, in Huber Heights, Ohio, to a Delaware statutory trust for $8.5 million. A vacated Walmart there was recently repurposed for Hobby Lobby, Bed Bath & Beyond and Sears Outlet.

ARLS Properties acquired 4715 Nine Mile Road in Henrico County, Virginia, for $4.4 million. A 90,000-square-foot, former Kmart makes up the bulk of the center, which has sat vacant since the retailer left three years ago.

The 11,166-square-foot Windward Square in Alpharetta, Georgia, traded for $3.2 million in a 1031 exchange. Stan Johnson Co. represented the private buyers. Penn Hodge Properties was the seller. The property’s six tenants include Eye Level Learning Center and Verizon.

A single-tenant, 19,677-square-foot property in Yakima County, Washington, that’s net leased to PetSmart traded for $3.3 million in an off-market 1031 exchange. The sale price represented a 6.35% cap rate, according to Hanley Investment Group Real Estate Advisors, which represented the buyer. “Pet stores have become a very attractive net lease investment due to the vast increase in the number of pets due to COVID,” said Hanley executive vice president Jeff Lefko. “We anticipate more single-tenant PetSmart and Petco properties achieving record cap rates over the next year.”

Newport Capital Partners acquired the 103,030-square-foot Stassney Heights in Austin on behalf of its value add Newport Capital Partners Fund III. Wintrust Bank provided financing, which Newmark arranged. Tenants include a Fiesta supermarket anchor, Castle Dental, Clinica Hispana, T-Mobile and Umi Sushi Bar & Grill.