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SCT

Transactions — Who’s paying how much for what

October 3, 2019

$83.9 million
An affiliate of Lincoln Property Co. bought a 44,000-square-foot, Nike-anchored building at 3040 M St. NW, in Washington, D.C., from Vornado Realty Trust. The price came to about $1,907 per square foot. Besides the 31,500-square-foot Nike store, the building is home to Amazon Books.

$49 million
Regency Centers acquired Circle Marina Center, a 120,000-square-foot center in Long Beach, Calif. Occupying the almost fully leased center are Staples, Big 5 Sporting Goods and a pet-supply store. The property also encompasses 33,000 square feet of offices in a three-story building, as well as some above-retail office space.

$39.8 million
Columbus Pacific acquired Market Street at Heath Brook, a 393,400-square-foot, mixed-use lifestyle-entertainment center in Ocala, Fla., from Crefii-Market Street Holdings (a subsidiary of MGHerring Group and Tricom Real Estate Group), according to the Ocala StarBanner. Anchors are Barnes & Noble, Dick’s Sporting Goods, DSW, HomeGoods, Marshalls (opening this month), Old Navy and Ulta Beauty. Among the other tenants are Ocala Eye, Orangetheory Fitness and Panera Bread, plus some 70,000 square feet of offices. The sale includes about 60,000 square feet of available space and extra land for future development. JLL marketed the property on behalf of the seller.

Market Street at Heath Brook, Ocala, Fla.

$5 million
A private investor bought a 1-acre pad containing a new, freestanding, 3,200-square-foot building in Anaheim, Calif., with a drive-through. The property is triple-net-leased to Raising Cane’s Chicken Fingers. The price represents a 4 percent cap rate. Hanley Investment Group stood in for the buyer, and SRS Real Estate Partners for the seller: CalBay Development, of Manhattan Beach, Calif.

Raising Cane's Chicken Fingers, in Anaheim, Calif.

$4.9 million
MHCommercial Real Estate Fund, managed by NAI/Merin Hunter Codman, acquired Prince Creek Village, an 18,000-square-foot, almost fully occupied center in the Myrtle Beach, S.C., suburb of Murrells Inlet.

$4.6 million
A subsidiary of Kamin Realty bought a 212,100-square-foot Walmart store on nearly 30 acres in Englewood, Ohio.

$3.9 million
A private partnership acquired a pad at Zona Rosa Town Center, in Kansas City, Mo., from N3 Real Estate, of Southlake, Texas. The pad is leased to a 22,800-square-foot Michaels.

$1.2 million
A private investor bought a newly built property leased to Dollar General in Eden Valley, Minn. The Boulder Group represented the seller, which developed the property.

By Edmund Mander

Director, Editor-In-Chief/SCT

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