Shopping Center Business

OCT 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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20 • SHOPPING CENTER BUSINESS • October 2018 NEWSLINE Chandler. Sean Thomas of SRS represent- ed a private investor in the transaction. Scottsdale, Arizona-based BernsteinMur- phy represented the seller, a private in- vestment group, in the deal. Built in 1988, the 102,033-square-foot property was 90 percent occupied at the time of sale. Christ's Church of the Valley anchors the property, which is situated on 17 acres. AVISON YOUNG ARRANGES $10.5 MILLION SALE OF GLENWOOD SQUARE IN NORTH CAROLINA Avison Young has arranged the $10.5 million sale of Glenwood Square, a 51,900-square-foot retail center in Chapel Hill. Blake Thomas and Grant Linderman of Avison Young arranged the transaction on behalf of the seller, Flagler Holdings. Fairway Investments acquired the asset. Constructed in 1987, Glenwood Square is home to tenants including The Fresh Market and Rite Aid. The center was fully leased at the time of sale. The property is located less than two miles from the Uni- versity of North Carolina at Chapel Hill. HFF ARRANGES $14.4 MILLION SALE OF SHOPPING CENTER IN METRO NASHVILLE HFF has arranged the $14.4 million sale of Mallory Corners, a 70,000-square-foot shopping center in Brentwood, Tennes- see, located 10 miles south of Nashville. Jim Hamilton and Shea Petrick of HFF arranged the transaction on behalf of the seller, the estate of Charles S. Acker- man. Leo Weiner of Ackerman Retail, a division of Ackerman & Co., is acting as an advisor to the estate. Barnes & Noble and Electronic Express anchor Mallory Corners, which was 96 percent leased at the time of sale. Additional tenants in- clude Brilliant Sky Toys & Books, Sprint, Hoover Paint, AAA Autoclub and Play It Again Sports. CBRE ARRANGES $10 MILLION SALE OF LIBERTY PLAZA SHOPPING CENTER IN PHILADELPHIA CBRE has arranged the $10 million sale of Liberty Plaza, a 372,130-square-foot shopping center in Philadelphia. Peter Stevens and Kevin McClernon of CBRE represented the seller, U.S. Bank National Association, in the transaction. The buyer was 4501 Woodhaven Holding LLC. The property is currently 45 percent leased to tenants such as Dick's Sporting Goods, Raymour & Flanigan, Burger King, Grand China Buffet and Liberty Nail Salon. QUANTUM ARRANGES $6.2 MILLION SALE OF MID-OAK PLAZA IN SUBURBAN CHICAGO Quantum Real Estate Advisors Inc. has arranged the $6.2 million sale of Mid-Oak Plaza in Midlothian, a southwestern sub- urb of Chicago. Walgreens and Charter Fitness anchor the 73,284-square-foot re- tail center. Chad Firsel of Quantum repre- sented the seller, a metro Chicago-based acquisition and development company. A private real estate owner based in subur- ban Chicago acquired the property. NAI ISAAC ARRANGES $8.5 MILLION SALE OF STONEWALL SHOPPING CENTER IN KENTUCKY NAI Isaac has arranged the $8.5 million sale of Stonewall Shopping Center, a 79,142-square-foot retail center in Lex- ington. Al Isaac of NAI Isaac arranged the transaction on behalf of the seller. Eli Mashni of Keller Williams represented the buyer. Other terms of the deal were not disclosed. Stonewall Shopping Cen- ter was 85 percent leased at the time of sale to tenants such as Bargain Hunt, Dol- lar Tree, Domino's, Goodwill and Peo- ples Exchange Bank. SRS ARRANGES $5.3 MILLION SALE OF CRUNCH FITNESS-LEASED BUILDING IN METRO ATLANTA SRS Real Estate Partners has arranged the $5.3 million sale of a freestanding building leased to Crunch Fitness in Law- renceville, located 34 miles northeast of Atlanta. The 22,000-square-foot property opened in March and is triple-net-leased to Crunch Fitness for 12.5 years. Mat- thew Mousavi and Patrick Luther of SRS arranged the transaction on behalf of the seller, a local developer, and procured the buyer, a public REIT. HFF ARRANGES $4.5 MILLION SALE OF WALGREENS PROPERTY IN TAMPA HFF has arranged the $4.5 million sale of a 15,942-square-foot property net-leased to Walgreens in Tampa. Eric Williams, Maxx Carney, Steve Schrenk and Marc Mandel of HFF arranged the transaction on behalf of the seller, an undisclosed private investor. A Florida-based investor purchased the asset. Walgreens has occu- pied the property since it was constructed in 1996 and has more than 38 years re- maining on its lease. EDGE ARRANGES SALE OF 84,717-SQUARE-FOOT CULLEN PLAZA IN HOUSTON EDGE Realty Capital Markets has ar- ranged the sale of Cullen Plaza, an 84,717-square-foot shopping center in Houston. Kevin Holland of EDGE ar- ranged the transaction on behalf of the seller, AEW/Weingarten. The sales price and name of the buyer were not dis- closed. Fiesta Mart anchors Cullen Plaza. Additional tenants include Family Dollar, Louisiana Famous Fried Chicken, Taco Bell, T-Mobile and Cricket Wireless. CENTERCORE PROPERTIES ACQUIRES THE MARKET SHOPS IN FLORIDA FROM OBP PARTNERS CenterCore Properties LLC has acquired The Market Shops, a 52,838-square-foot Glenwood Square in Chapel Hill, North Carolina, is home to tenants including The Fresh Market and Rite Aid. Avison Young recently arranged the sale of the property.

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