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C+CT

Transactions: Who’s paying how much for what

January 16, 2020

$43.3 million
An institutional commingled fund sponsored by Inland Institutional Capital and Charter Realty & Development Corp. bought Baederwood Shoppes on the Fairway, a 116,778-square-foot center in Jenkintown, Pa. Tenants at the property include Panera Bread, Planet Fitness and Whole Foods.

$40 million
Kinsley Properties sold the 88,598-square-foot, Aldi-anchored Centre Square Commons in Blue Bell, Pa., to Medipower for approximately $40 million. IPA Capital Markets represented the seller and arranged the debt on behalf of the buyer.

$32.3 million
KPR, formerly known as Katz Properties, and DRA Advisors purchased the 135,090-square-foot, Stop & Shop-anchored Concordia Shopping Center in Monroe Township, N.J., from Concordia Shopping Manager Corp. JLL represented the seller.

$26.8 million
Lamar Cos. and Real Capital Solutions purchased Mesa, Ariz.’s Mesa Pavilion North and Mesa Pavilion South, totaling 307,417 square feet, from Kimco Realty Corp. Tenants include PetSmart, Floor & Decor and Tuesday Morning.

$15.3 million
Girard Avenue LP bought an 8,116-square-foot, freestanding retail building in La Jolla Village, Calif., from a private family trust. Cushman & Wakefield represented the seller.

$11.6 million
RVI sold a chunk of its Newnan Crossing power center in Georgia to an undisclosed buyer for $11.6 million. The 452,648-square-foot center is anchored by Lowe’s, Hobby Lobby and The Athlete’s Foot. The deal does not include the parcel on which Lowe’s stands. That store’s lease expires in October.

$10.9 million
Evans Speedway sold the three-building, triple-net leased Speedway Village in Daytona Beach, Fla., to Starr Real Estate. Tenants at the 28,075-square-foot property include Jimmy John’s, Smashburger and Verizon Wireless. The site is across the street from the Daytona International Speedway. SRS Real Estate Partners represented the seller.

$9.7 million
In a 1031 exchange, a private investor bought Holiday Centre, a 67,147-square-foot Publix-anchored property in Florida from CF Properties Corp.

$8 million
VantageOne Real Estate Investments sold two freestanding properties in Yucaipa, Calif., to a private investor from Los Angeles. The deal includes a 3,867-square-foot property leased to In-N-Out Burger and a 4,500-square-footproperty leased to Corky’s Kitchen and Bakery. Hanley Investment Group represented the seller, and TFS Properties represented the buyer.

$7.1 million
MMG Equity Partners bought the 51,246-square-foot, Dollar General-anchored Naranja Plaza in Homestead, Fla., from D&G Properties.

$5.3 million
Yim & Pifer sold an 11,900-square-foot retail center adjacent to James Madison University, in Harrisonburg, Va., to HDJR United LLC. Tenants include Buffalo Wild Wings, BurgerIM, Sports Nutrition and Dunkin’. Cottonwood Commercial represented the seller.

$2.8 million
MT Holding Co. bought the 19,200-square-foot Springwood Park Retail Center in Roanoke, Va., from an LLC in a 1031 exchange. Poe & Cronk Real Estate Group represented the buyer.

$2.69 million
North American Development Group and Argosy Real Estate Partners sold a three-quarter-acre parcel in Bradenton, Fla.’s Lakewood Ranch master-planned community to a private investor. Ground-leased to a new Wendy’s, it fronts The Green at Lakewood Ranch, a new shopping center that’s home to Earth Fare and LA Fitness. JLL represented the seller.

By Brannon Boswell

Executive Editor, Commerce + Communities Today