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C+CT

Transactions — Who’s paying how much for what

April 11, 2019

$37.5 million
Longpoint Realty Partners bought Pembroke Place, a 158,500-square-foot, grocery-anchored center in Pembroke Pines, Fla., near downtown Fort Lauderdale, from Sterling Organization. The center is nearly 100 percent leased and has a Sedano’s supermarket, a Crunch Fitness and Vargas University as anchors. 

$20.3 million
Weingarten Realty acquired Madison Village Marketplace, a 90,300-square-foot, Safeway-anchored center in Phoenix, from Phoenix-based Bayless Investment & Trading Co. Among the other tenants at the 90 percent occupied center are Orangetheory Fitness and a pool-supplies retailer. Cushman & Wakefield closed the sale.

Madison Village Marketplace, Phoenix

Madison Village Marketplace, Phoenix

$18.2 million
A private investment group is the new owner of Alameda Marketplace, a 124,000-square-foot urban shopping center in Baltimore. The center is 90 percent occupied by 15 tenants, including Family Dollar, Shoppers Food & Pharmacy and Walgreens. Neuman Commercial Group represented the sellers: Atlantic Realty Co. and Walton Street Capital.

Alameda Marketplace, Baltimore

Alameda Marketplace, Baltimore

$17 million
Retail Value sold Mariner Square, a 200,000-square-foot retail center in Spring Hill, Fla., near Tampa, with a Bealls department store, a Dollar Tree, a Ross Dress for Less and a Shoe Carnival as anchors. This is the latest of a series of dispositions by Retail Value, which Site Centers Corp. (formerly DDR Corp.) spun off last summer. The buyer was not disclosed.

$7.5 million
A 1031 exchange buyer acquired Fair Lakes Center, in Fairfax, Va. The center includes a five-acre parcel net-leased to Bed Bath & Beyond concepts AndThat and Harmon Face Values. The price represented a 6.15 percent cap rate on current rent.

$7.3 million
Palm West Home Community LLC acquired a 19,200-square-foot retail center in Gilbert, Ariz., from Mariah Properties IV, LLC. Tenants at the fully occupied center include Backfit Health & Spine, Delia’s Cleaners, Domino’s Pizza, Great Clips and Subway. CBRE represented the seller.

$6 million
Dunton Commercial acquired Huron Plaza, a 112,800-square-foot center in Thornton, Colo., anchored by a Save-A-Lot supermarket. World Class Holdings, of Austin, Texas, sold the property, which is about 60 percent occupied.

By Edmund Mander

Director, Editor-In-Chief/SCT

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