A portfolio of nine quick-service restaurants throughout Texas traded for $29 million in a sale-leaseback. Palenque Group, which operates 34 restaurants throughout the state under the Taco Palenque and Palenque Grill brands, was the seller and will continue to occupy the properties. Stream Capital Partners brokered the deal.

A 12-property portfolio of single-tenant retail buildings across 10 states traded for $28.5 million. The 187,884-square-foot portfolio’s properties range from 4,000 to 26,000 square feet and are occupied by such national brands as Advance Auto Parts and PetSmart. Stan Johnson Co. represented the undisclosed buyer and the seller, a Midwest-based private family office. A joint venture between affiliates of MCB Real Estate and Blue Vista Capital Management purchased the portfolio.

A private 1031 exchange buyer based in Ontario, California, acquired the 136,139-square-foot Cofer Crossing in Tucker, Georgia, from Madison International Realty and Site Centers for $20 million. HomeGoods and Kroger anchor the center. JLL Capital Markets represented the seller, and Hanley Investment Group Real Estate Advisors and ParaSell represented the buyer. “The buyer was attracted to Kroger’s below-market rent,” said Hanley executive vice president Kevin Fryman. “We are seeing downward pressure on cap rates for high-quality, multitenant retail assets due to low inventory and little to no new multitenant retail product coming on the market as demand increases. Cap rates for high-quality retail assets in many markets around the country, particularly in suburban markets in states that have had a less-restrictive response to the pandemic, have compressed to below pre-COVID levels for anchored and shadow-anchored multitenant retail properties, and we expect this trend to continue.”

A 51,230-square-foot, single-tenant Hannaford supermarket in Franklin, New Hampshire, traded for $11.5 million. JLL Capital Markets represented the buyer and seller.

A private service entity sold the 117,566-square-foot Shops at Surfside in Cape Coral, Florida, to Patagonian Holdings for $7 million. Tenants include Belk, Anytime Fitness, SalonPlex and Humana. SRS Real Estate Partners Investment Properties Group represented the seller.

Benderson Development beat out a field of 20 qualified bidders to purchase a 4.5-million-square-foot, 28-property portfolio of absolute net leased Fred Meyer superstores in Alaska, Idaho, Oregon and Washington. The Medford, Oregon, location is pictured at top. The companies said the price, which was not disclosed, represents a cap rate of less than 4 percent. “This was a once-in-a-generation opportunity to acquire a portfolio of dominant essential retail stores,” said Patrick Toomey, executive director of Marcus & Millichap Institutional Property Advisors, which advised Kroger and its Fred Meyer subsidiary on the sale-leaseback. “Kroger will execute brand-new, 25-year absolute net leases for each property, with an initial portfoliowide base rent totaling $25 million per year.”