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C+CT

Transactions: Who’s paying how much for what

November 26, 2019

$127 million
Vastgood Properties LLC, of Port Washington, N.Y., and RW Partners, of Conshohocken, Pa., acquired a portfolio of seven Giant supermarket–anchored shopping centers, comprising an aggregate 548,500 square feet. The centers, all in Pennsylvania, are Aston Center; Ayr Town Center, McConnellsburg; Creekside Marketplace, Hellertown; Parkway Plaza, Mechanicsburg; Scott Town Center, Bloomsburg; Spring Meadow Shopping Center, Wyomissing; and Stonehedge Square, Carlisle. Meridian Capital Group arranged some $97 million in financing for the buyers.

$80.6 million
Allied Realty & Development Corp., of Great Neck, N.Y., acquired The Shoppes at Parma (Ohio), a 765,000-square-foot power center tenanted by Burlington, Five Below, Old Navy and Walmart. The seller was Parmatown Station LLC, an affiliate of Prep Property Group, which has offices in Cincinnati and Salt Lake City.

$34.5 million
84 South Retail Center LLC, led by Davinder Toor, acquired several buildings with an aggregate 195,000 square feet at 84South, a retail development in Greenfield, Wis., from affiliates of Cobalt Partners LLC. Among the tenants are Fresh Thyme, Kohl’s, Marshalls, Ross Dress for Less and others.

$12.5 million
Continental Realty Corp. acquired Mango Plaza, a 166,500-square-foot, almost fully leased center in Seffner, Fla., anchored by Walmart and Publix. Marcus & Millichap represented the seller, a joint venture between Field Real Estate Holdings LLC and Southern Management & Development LP.

Mango Plaza, Seffner, Fla.

Mango Plaza, Seffner, Fla.

$7.4 million
Statewide Properties, of New Jersey, bought a 5,200-square-foot building occupied by an urgent-care facility and a 6,600-square-foot building occupied by Panera Bread and PenFed Realty. The properties sit on a 1.6 acre parcel at Regency Square, in Richmond, Va. The sellers were The Rebkee Co. and Thalhimer Realty Partners.

$6.7 million
Reinhold Corp., of Fleming Island, Fla., acquired the Shoppes on Fourth, a newly built, 9,000-square-foot, fully occupied center in Tampa Bay, Fla. Zoës Kitchen and Pearle Vision are among the tenants. Indianapolis-based Crescent Lake Fourth Street LLC was the seller.

$5.1 million
A Florida-based investor acquired a 12,700-square-foot building net-leased to CVS in West Palm Beach, Fla.

This CVS in West Palm Beach, Fla., fetched $5.1 milion

This CVS in West Palm Beach, Fla., fetched $5.1 milion

$1.6 million
A private investor bought a 12,600-square-foot store leased to Dollar General in Quitman, Miss., in a 1031 exchange transaction. The Boulder Group represented the seller, a Southwest-based commercial real estate investment firm.

$1.3 million
A private investor purchased a 4,200-square-foot property net-leased to IHOP in Naples, Fla., in a deal that Marcus & Millichap brokered.

$780,000
VIG Management Group bought Horn Lake (Miss.) Station, a 13,800-square-foot, 50 percent–occupied retail center, at an auction.

By Edmund Mander

Director, Editor-In-Chief/SCT

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