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SCT

Transactions — Who’s paying how much for what

February 21, 2019

$80 million
On behalf of a partnership between local and Taiwanese investors, Whittier, Calif.–based STC Management acquired the Anaheim (Calif.) GardenWalk, a three-story, 430,000-square-foot open-air center, from a partnership between New York City–based Arcturus and two private equity investors. Tenants include an AMC cinema, Bowlmor Bowling Center, California Pizza Kitchen, House of Blues Anaheim, P.F. Chang’s, The Cheesecake Factory and 24 Hour Fitness. CBRE represented the seller.

Anaheim (Calif.) GardenWalk

$43 million
Pointe at Wellington LLC acquired The Pointe at Wellington (Fla.) Green, a 107,400-square-foot, LA Fitness–anchored shopping center that is 96 percent leased to several food, fitness and service tenants. HFF represented the seller, The Centre at Wellington Green Ltd.

The Pointe at Wellington (Fla.) Green

$13 million
Rise Partners, of Chattanooga, Tenn., bought the Easton (Md.) Marketplace, a 126,650-square-foot center anchored by a Weis supermarket, from Navarre, Fla.–based Mears Properties. KLNB Investment represented the seller.

Easton (Md.) Marketplace

$12.9 million
Jerome Properties 215 LLC acquired Clinton (Conn.) Plaza, a 100,400-square-foot shopping center anchored by Stop & Shop and T.J.Maxx, from JMH Associates. HFF represented the seller.

Clinton (Conn.) Plaza

$8.3 million
A Denver-based private investor acquired a two-tenant, 6,700-square-foot new building in Edina, Minn., from Davie, Fla.–based OneCorp Real Estate. The price represented a 6 percent cap rate and, at $1,231 per square foot, set a record for a multitenant retail property sale in Minnesota, according to CoStar. Hanley Investment Group Real Estate Advisors represented the seller. Coldwell Banker Burnet represented the buyer.

The price per square foot paid for this Edina, Minn., property set a record, according to CoStar

$2.7 million
A West Coast investor acquired a 2,900-square-foot property in Suffolk, Va., net-leased to 7-Eleven from an East Coast real estate fund represented by The Boulder Group.

$2.1 million
Old Republic Exchange Co., of Carefree, Ariz., purchased a three-tenant, 8,000-square-foot retail pad at The Boulevard at Surprise (Ariz.) Pointe from an entity formed by San Diego–based CIRE Equity. Cushman & Wakefield represented the seller.

By Edmund Mander

Director, Editor-In-Chief/SCT

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