$419 million
An affiliate entity managed and controlled by a Brookfield-sponsored private real estate fund acquired a $304 million majority stake held by Brookfield Properties in the newly opened SoNo Collection, South Norwalk, Conn., plus $115 million in minority shares in the 700,000-square-foot mall held by other investors. The sale of Brookfield's 81 percent stake yielded it $83 million net, according to its 3Q report.
The SoNo Collection, South Norwalk, Conn.
$34.5 million
Northpond Partners, of Chicago, bought Calhoun Square, a 171,000-square-foot enclosed shopping center in the Uptown district of Minneapolis, from Ackerberg Group, of Minneapolis.
$29 million
Katz Properties Retail, of New York City, acquired Shops at Blue Bell (Pa.), a 103,000-square-foot center anchored by Giant, from Clairon Partners. JLL brokered the deal.
$23.5 million
A South America–based investment group acquired The Shoppes at Southern Palms, a 200,888-square-foot, 100 percent–occupied community center in West Palm Beach, Fla., anchored by Kohl’s and Dick’s Sporting Goods from a New York City-based private fund. Institutional Property Advisors, a division of Marcus & Millichap, represented the seller.
$21.3 million
An unidentified investor acquired Regency Square Plaza, a 185,000-square-foot center in Stuart, Fla., from Angelo Gousios.
$21 million
A private investment group led by Kurt Hilbers acquired Strawberry Creek, a 57,373-square-foot center in Sacramento, Calif., from Pacific Castle Management Inc., of Irvine, Calif. Marcus & Millichap represented the seller.
Strawberry Creek, Sacramento, Calif.
$14.1 million
MIRAJH LLP, of Saskatoon, Saskatchewan, acquired Mountain Vista Plaza, a 64,071-square-foot, 93.5 percent–occupied center in Surprise, Ariz., anchored by Planet Fitness. Cushman & Wakefield represented the seller, an entity formed by Boarder Capital.
$8.8 million
A private investor bought a two-tenant, newly built 31,271-square-foot building on 2.5 acres housing an Aldi grocery store and a shoe store in Rialto, Calif., from a private partnership.
$5 million
A private investor acquired a newly constructed 2,913-square-foot building in St. Louis containing a Raising Cane’s Chicken Fingers restaurant, with drive-through, from Noles Properties, of Creve Coeur, Miss. The cap rate for the sale was 5.97 percent, and the price represented $1,725 per square foot. Hanley Investment Group Real Estate Advisors and Pace Properties represented the seller.
A Raising Cane's Chicken Fingers restaurants like this one fetched $5 million in St. Louis
$2.9 million
A private investor bought a 0.95-acre parcel leased to a 70Eleven store in Bradenton, Fla., from a partnership between North American Development Group and Argosy Real Estate Partners. JLL represented the seller.
$2.1 million
SMBC Property #2, LLC bought a 2,469-square-foot, single tenant building triple net leased to Del Taco Corporate in Lake Elsinore, Calif., from Pacific Castle Lake Elsinore Partners, LLC. JLL represented the buyer.
By Edmund Mander
Director, Editor-In-Chief/SCT
