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C+CT

Transactions — Who’s paying how much for what

January 16, 2019

$51.5 million
An affiliate of Ram Realty Advisors is the new owner of University Place, a 372,200-square-foot center in Chapel Hill, N.C., anchored by Harris Teeter, Planet Fitness, a Silverspot Cinema movie theater and Southern Season. HFF marketed the property on behalf of the seller, Madison Marquette.

$29 million
A Midwest private investor bought the Southern Pines (N.C.) Village, a 179,300-square-foot center occupied by Dollar Tree, Hobby Lobby, Kohl’s, LongHorn Steakhouse and Ulta Beauty. Marcus & Millichap represented the seller, Hendricks Commercial Properties.

Southern (N.C.) Pines Village

Southern (N.C.) Pines Village

$20 million
A private investor from New York acquired the South Town Plaza, a 496,000-square-foot, Burlington-anchored retail center in Henrietta, N.Y. The property was 77 percent occupied with national and regional tenants at the time of the sale. Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, another private investor.

$18 million
JBL Asset Management acquired The Plaza at Wellington (Fla.) Green, a 57,200-square-foot community shopping center fully leased to retail, food, medical and service tenants. HFF represented the seller.

The Plaza at Wellington (Fla.) Green

The Plaza at Wellington (Fla.) Green

$7.4 million
Stockbridge Real Estate acquired the leasehold of a two-tenant, 24,700-square-foot shopping center in Raleigh, N.C., next to North Carolina State University and anchored by an urban-format Target store. HFF represented the seller, Loden Properties.

$5 million
A private investor bought a single-tenant, 3,000-square-foot property leased to Raising Cane’s Chicken Fingers, in Coon Rapids, Minn., near Minneapolis. Hanley Investment Group represented the seller. Colliers International stood in for the buyer. The price represented a cap rate of 6.03 percent.

Raising Cane's, in metro Minneapolis

Raising Cane's, in metro Minneapolis

$4 million
JBL Asset Management bought Village Shoppes II, a 44,000-square-foot center in Royal Palm Beach, Fla. The center is nearly 50 percent leased to a mix of retail, restaurant and service uses. HFF represented the seller.

Village Shoppes II, Royal Palm Beach, Fla.

Village Shoppes II, Royal Palm Beach, Fla.

By Edmund Mander

Director, Editor-In-Chief/SCT