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Lincoln Property Co. and Cara Investment acquired 384 Post St. on Union Square in San Francisco. Saks Fifth Avenue, which has occupied the half-acre property for more than four decades, has a lease for the property through 2027. The 135,000-square-foot building sits on a prestigious corner with 163 feet of frontage on Post Street and an unobstructed view of Union Square. Five floors are above grade and one is below. Neighboring tenants in the luxury retail district include Tiffany & Company, Williams Sonoma, Apple and Nike. Eastdil Secured represented the seller.
LBX Investments acquired the 255,000-square-foot Evergreen Plaza in Evergreen Park, Illinois, for $67.3 million. The buyer financed the deal, worth $263 per square foot, with a $45.4 million loan from Angel Oak Commercial Lending. Fortress and Lormax Stern were the sellers. Tenants at the suburban Chicago center include Burlington, Planet Fitness, T.J.Maxx and Whole Foods. The deal did not include a vacant, 120,000-square-foot storefront.
Ross Realty Investments and SunCap sold the 90,434-square-foot Turtle Crossing in Coral Springs, Florida, for $32.5 million. The buyer, Crow Holdings, obtained a $21.5 million mortgage from Inwood National Bank. CBRE represented the sellers. Turtle Crossing is 98% leased, and tenants include AutoZone, Buffalo Wild Wings, Chipotle, Dollar Tree, Panda Express and Visionworks.
Peters Development of High Point, North Carolina, purchased the 82,760-square-foot, Harris Teeter-anchored Whitaker Square in Winston-Salem, North Carolina, from Brixmor for $16.6 million. The buyer plans to add a Bethany Medical primary care clinic.
A freestanding property leased to QuickChek in Stanhope, New Jersey, sold for $6.3 million. SRS National Net Lease Group represented the seller, a Northeast-based investment partnership, and the LLC buyer. QuickChek, a convenience store and fuel station operator with more than 160 locations, signed a 20-year ground-lease for the property with multiple, five-year options to extend. The 5,496-square-foot property was built in 2020.
PMAT sold the 65,853-square-foot, Publix-anchored Columbia Promenade, in Kissimmee, Florida, for $12.7 million. JLL represented the seller. Built in 2000, Columbia Promenade was 98.6% leased at the time of sale. Tenants include H&R Block and MetroPCS.
The 64,736-square-foot Marietta Square in Jacksonville, Florida, traded for $5.75 million. Rowe's IGA Supermarket anchors the center, whose rent roll also includes AutoZone and Family Dollar. Marcus & Millichap represented the seller, Saglo, and the buyer, a private investor.
The unanchored, 3,648-square-foot Deltona Fountains retail plaza, in Daytona Beach, Florida, traded for $4.2 million. Tenants include a bakery, a dentist and a yoga studio.
A 20,000-square-foot, single-tenant retail property in Fort Wayne, Indiana, that’s net leased to Planet Fitness sold for $2.4 million. Hanley Investment Group represented the sellers: McCormack Development and Jackson Investment Group. The buyer was a private investor based in Southern California.
The former Sears at The Mall at Stonecrest in Stonecrest, Georgia, outside Atlanta, traded for $2.1 million. The Stonecrest Urban Redevelopment Authority sold the 15-acre parcel, which includes two buildings totaling 142,000 square feet, to Stonecrest Resorts LLC, a development firm created to repurpose vacant real estate at the property. Stonecrest Resorts plans to transform the store, which has been vacant since 2017, into an entertainment and lifestyle component for the mall that will include a 25,000-square-foot SeaQuest aquarium opening this fall.
A property in Lowell, Massachusetts, double-net leased to a Domino’s franchise for 10 years, sold for $1.9 million. B+E represented the buyer and the seller, both individual investors.
Domino’s in Lowell, Massachusetts
Evolution Commercial Real Estate sold a 14,587-square-foot, freestanding Harbor Freight store in Midland, Michigan, to a private buyer for $1.75 million. “We signed a lease with Harbor Freight shortly after relocating the previous tenant, Planet Fitness, to the former JCPenney at the Midland Mall,” said Evolution COO Ed Eickhoff. CBRE was the listing broker.
In an off-market transaction, BH Properties acquired a vacant, 103,000-square-foot big-box anchor within the 665,000-square-foot Valle Vista Mall in Harlingen, Texas. Built in 1983, the building, pictured at top, served as a clearance store for Dillard’s, which vacated at the expiration of its lease just weeks prior to the deal’s closing. BH Properties has hired CBRE to re-lease the property. Coldwell Banker Commercial represented the seller, a New York-based real estate investment firm. API Real Estate represented BH Properties.
Edens sold the 112,000-square-foot Shaw’s supermarket-anchored North Providence Marketplace in Providence, Rhode Island, to Greenberg Gibbons. Atlantic Capital Partners brokered the sale.
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