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Industry News

Transactions — Who’s paying how much for what

December 12, 2018

$150 million
Agree Realty Corp. acquired roughly 100 retail properties in a sale-leaseback deal with The Sherwin-Williams Co. The parties expect to close this deal on or before Dec. 31.

$45 million
Shea Properties sold The Dunes, a 233,900-square-foot center in Marina, Calif., leased to Bed Bath & Beyond, Best Buy, Kohl’s, Michaels, Old Navy, Party City and REI. The buyer was a Southern California–based private investor. CBRE represented Shea.

$21.2 million
A subsidiary of Longpoint Realty Partners, of Boston, acquired a portion of Crossroads Square, a Lowe’s-anchored center in Fort Lauderdale, Fla., from a subsidiary of Regency Centers. Chevron, CubeSmart, Lowe’s, Red Lobster and Taco Bell were not part of the transaction. The Shopping Center Group represented the seller.

A section of Crossroads Square, in Fort Lauderdale, Fla., fetched $21.2 million

$13 million
A Los Angeles–based family trust acquired a property single-tenant-leased to LA Fitness, in Temecula, Calif. The price represented a cap rate of 6.13 percent. Hanley Investment Group Real Estate Advisors represented the seller, a private developer based in Irvine, Calif.

This LA Fitness property in Temecula, Calif., sold at a 6.13 percent cap rate

$7.8 million
Benderson Development Co. acquired a Toys ‘R’ Us store in Plantation, Fla. — the firm's fifth purchase of any of that chain's stores in South Florida.

$3.57 million
A California investor acquired an IHOP restaurant near Atlanta in a 1031 exchange deal that amounted to $1,530 per square foot. Marcus & Millichap represented the seller, a Georgia-based limited-liability company.

This IHOP property near Atlanta sold for $1,530 per square foot

$3.12 million
Kohan Retail Investment Group acquired Eastland Center, a 641,400-square-foot center in Harper Woods, Mich., near Detroit.