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Transactions: Who’s paying how much for what

Oct. 1, 2015

In what some are calling the highest-value retail property sale in Florida history, Fryd Properties and Comras Co. sold a 1.1-acre contiguous city block along Miami Beach’s Lincoln Road to Spain’s Amancio Ortega, owner of Zara, for $370 million, according to published reports. The 74,500-square-foot block includes global flagship retail stores of Apple, Capital One, Gap and Nike. The site has the potential for an additional roughly 57,300 square feet.

Connecticut-based Starwood Capital Group bought the 1.1 million-square-foot Belmar mixed-use center, in Lakewood, Colo., from the Southern Ute Indian Tribe for $300 million. Tenants include Best Buy, Chico’s, Dick’s Sporting Goods and Target.

MX3 Ventures sold The Shoppes at Chino Hills (Calif.), a 378,000-square-foot lifestyle center, to Dunhill Partners for $147 million. Anchors include Forever 21, H&M and Trader Joe’s.

Greenberg Gibbons sold Towne Centre at Laurel (Md.) to UBS Realty Investors for $134.8 million. Harris Teeter and Sports Authority are anchors at the center, which was previously the enclosed Laurel Mall.

Agree Realty Corp. sold the 171,400-square-foot North Lakeland (Fla.) Plaza to an undisclosed buyer for $13.2 million. Bealls and Best Buy anchor the property.

A group of tenant-in-common investors managed by Milwaukee-based Greywolf Partners sold the 78,200-square-foot Shops at Randall Road, in Algonquin, Ill., to Chicago-based Bonnie Management and Marc Realty for $11.7 million. Tenants include Lumber Liquidators, Petco, Pier 1 Imports and T.J.Maxx.

A Chico, Calif.–based family trust sold the 100,000-square-foot Lemon Grove Plaza, in Oxnard, Calif., to LGP Land Owners for $8.1 million. Tenants there include Jersey Mike’s Subs and Smart & Final.

A private partnership sold the 38,840-square-foot, Dollar General–anchored Morse & Maize shopping center, in Columbus, Ohio, to a limited liability company for $3.2 million.

The Silver Cos. sold a 10,500-square-foot retail building in the Cosner’s Corner shopping center, in Spotsylvania County, Md., to the Franklin D Lewark Living Trust and Wanda C Lewark Living Trust for nearly $3.1 million. Cosner’s Cleaners, El Patron Mexican Restaurant and Wings to Go are among the tenants there.

Morgan Property Group bought a freestanding, 4,200-square-foot building in Albuquerque, N.M., leased to IHOP from Windsor Exchange Corp. for $3 million. The building is a Cottonwood Mall outparcel.


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