$125 million
Rosenthal Properties and PGIM Real Estate formed a venture to buy a portfolio of five shopping centers in Virginia. The portfolio consists of Ridge Shopping Center, a 101,200-square-foot property in Henrico, Va., anchored by The Fresh Market; Parham Plaza, a 177,500-square-foot center in Henrico, anchored by Petco, T.J.Maxx and Walmart; Stonehenge Village, in Chesterfield, anchored by Wegmans; Staples Mill Marketplace, a 156,500-square-foot center in Henrico, anchored by a Kroger Marketplace; and Staples Mill Square, a 96,500-square-foot center in Henrico, anchored by a Target in a building that is separately owned, plus additional anchors Aldi and Petco. Cushman & Wakefield represented the seller, Marchetti Properties.
$16.1 million
Hutensky Capital Partners, of Hartford, Conn., bought Cave Springs Shopping Center, a 176,800-square-foot property in St. Peters, Mo., northwest of St. Louis, from Kimco Realty Corp. The tenants include Edge Fitness Club, Hobby Lobby, LongHorn Steakhouse and Office Depot. May Real Estate represented Kimco.
Cave Springs Shopping Center, northwest of St. Louis
$14 million
Newport Capital Partners acquired a vacant 161,000-square-foot store formerly occupied by Carson’s, at Edens Plaza, in Wilmette, Ill., from a joint venture that acquired the assets of Carson’s parent Bon-Ton Stores last year. Newport and A&G Realty Partners brokered the sale.
$6.8 million
A private investor acquired a 10,900-square-foot building leased to CVS in River Forest, Ill., from a private partnership as part of a 1031 exchange. The Boulder Group represented the seller. The lease has about 20 years on the primary term, plus five renewal options of five years each.
This property in River Forest, Ill., fetched $6.8 million
$3.5 million
A private investor purchased a half-acre pad site in Fontana, Calif., leased to a 3,200-square-foot Raising Cane’s Chicken Fingers from Adler Realty Investments, of Woodland Hills, Calif. The cap rate was 4.13 percent. Hanley Investment Group Real Estate Advisors represented the seller; Marcus & Millichap was the buyer's representative.
A Raising Cane's Chicken Fingers restaurant in Fontana, Calif.
$3.5 million
A private investor acquired the Shops at Ramona Expressway, a 9,800-square-foot retail center in Perris, Calif., in a 1038 exchange transaction with another investor. Progressive Real Estate Partners represented the seller, and REeBroker Group stood in for the buyer.
The Shops at Ramona Expressway, in Perris, Calif.
$1.7 million
A Texas-based fund bought a 13,300-square-foot property in Hot Springs, Ark., from a private partnership in Texas. The Walgreens single-tenant lease, which expires at the end of 2024, contains six renewal options of five years each. The Boulder Group represented both parties.
This 13,300-square-foot property in Hot Springs, Ark., sold for $1.7 million
By Edmund Mander
Director, Editor-In-Chief/SCT
