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8 retail property trades in southern states, plus 1 in Iowa

August 19, 2021

The 46,712-square-foot 1750 Plaza in Coral Springs, Florida, traded for $14.5 million. 1750 University Holdings LLC sold the property to One Global Property Management. Tenants include First Watch, Jersey Mike’s Subs, Rita’s and two medical spas.

WPB Property Holdings LLC sold the 46,188-square-foot Dollar General Plaza in Palm Beach County, Florida, to Renzulli Associates West Palm Beach Shopping Center for $11.75 million. Dollar General, Papa John’s, a barber shop and a nail salon are among the property’s tenants.

Aterra Real Estate bought a trio of retail lots at the Walmart-anchored Indianhead Square in Mason City, Iowa, from Indianhead Development Group for $6.1 million. Tenants include GameStop, Smoke Shop, OneMain Financial, Mediacom, Metro by T-Mobile, Check ’n Go, Cricket and Armed Forces Career Center.

The two-level, 144,000-square-foot former Sears at Triangle Town Center in Raleigh traded for $5.85 million. Blue Empire LLC acquired it from Transformco, which was represented by JLL.

Ruffin Mill LLC acquired the 17,235-square-foot Maxey Center, in Powhatan County, Virginia, from JWN Properties LLC for $4.3 million. Powhatan Medical Associates, Edward Jones, Angela’s Italian Ristorante, ERA Napier and Powhatan Gentle Dentistry are among the tenants. S.L. Nusbaum Realty Co. represented the seller.

An individual investor sold the 23,000-square-foot Thomasville Center in Thomasville, Georgia, to Hawk’s Landing LLC for $4 million, reflecting a 7.25% cap rate. Stan Johnson Co. represented the seller.

Thomasville Center

Midway Station — a 12,050-square-foot unanchored retail center in Loganville, Georgia, that’s pictured at top — traded for $2.2 million. Stan Johnson Co. represented the sellers, a group of individual investors based in California. The private buyer placed a 7.47% cap rate on the deal. The property, whose tenants include Papa John’s, attracted 10 offers.

Sleiman sold two single-tenant, net lease assets totaling 123,567 square feet in Jacksonville, Florida. The BJ’s store anchors the Atlantic-Kernan Shops, and the Walgreens store occupies an outparcel pad at the complex. JLL Capital Markets represented the seller.

Sealy River Crest I LLC sold North Park Plaza, an eight-tenant, 18,800-square-foot retail center in Marshall, Texas, to a regional private capital investor. Tenants include national retailers Hibbett, Anytime Fitness, Sprint and Great Clips.

North Park Plaza

By Brannon Boswell

Executive Editor, Commerce + Communities Today

Commerce + Communities Today

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