Chicago: On behalf of German-based open-ended real estate fund Unilmmo: Europa, Union Investment acquired a strip of retail on East Oak Street, including 30,000 square feet leased to luxury brands, for a reported $160 million. “We have found it challenging to invest in the U.S. market due to exorbitant hedging costs and travel limitations caused by the COVID-19 pandemic,” said Union Investment executive director and head of investment management for the Americas Matthew Scholl. “While the U.S. team has remained active throughout this period, we are now able to acquire once more.” CBRE Capital Markets represented the buyer and the seller.

Tenants include Chanel, Hermes and a high-end restaurant. “East Oak Street is the No. 1 destination in Chicago for luxury goods and fashion,” said Kseniya Merritt, head of retail investments for North America in Union Investment’s New York office. “High-profile tenants include brands such as Hermes, Prada, Giorgio Armani and Dior. Due to the demand for space, vacancies are historically low and rents are stable. The acquired property, comprising two- and four-story structures, was built in 2018 and is one of the newest luxury retail properties on this desirable shopping street.”

San Bruno, California: Alexandria paid $105 million for a 700,000-square-foot, JCPenney-anchored property that’s part of the Tanforan mall complex. The seller was Copper Property CTL Pass Through Trust, which was established to acquire and sell 160 retail properties and six warehouse distribution centers as part of JCPenney’s reorganization. Newmark helped broker the transaction. Alexandria plans to demolish and develop or redevelop the existing properties upon expiration of leases.

Palm Beach Gardens, Florida: Lone Star Funds and Woolbright Development bought Legacy Place for $101.7 million from GLL Real Estate Partners, which was represented by CBRE. The 425,316-square-foot center is 72% occupied by such tenants as Best Buy, Barnes & Noble, Bassett furniture, Ethan Allen, Michaels, Nicklaus Children’s Hospital, Petco, The Container Store and Total Wine & More.

Burbank, California: Omni Group bought the 1.2 million-square-foot Burbank Town Center for $136 million. Newmark represented the sellers, Barings and Cypress. The center recently underwent a $70 million renovation.

Philadelphia: Finmarc Management and KPR sold Red Lion Plaza, a 240,000-square-foot power center at 9950 Roosevelt Blvd., for $56.45 million. They’d acquired the property in 2013 and then executed a value-add strategy. They brought in Burlington in late 2019 and Ross Dress for Less in early 2020, recently backfilled a Raymour & Flanigan with a national grocer that will open next year, and added a pair of pads totaling 20,000 square feet that are now leased to Aspen Dental, Mattress Firm, Panera and Tropical Smoothie Cafe. The property is now 97% leased. JLL represented Finmarc.

Lafayette, Louisiana: GBT Realty Corp. purchased the 168,335-square-foot River Marketplace from RB&L for $39.5 million. Tenants include Books-a-Million, Ross Dress for Less and Total Wine & More.

Manassas, Virginia: Petroleum Marketing Group bought the 147,305-square-foot Portsmouth Station for $19.45 million. Cushman & Wakefield Thalhimer Capital Markets represented the seller. The property is 78% leased to 20 tenants and anchored by Aldi and Regency Furniture. The property has two multitenant buildings and a 7-Eleven outparcel.

Gulf Shores, Alabama: RCG Ventures, represented by Franklin Street, sold the 220,372-square-foot Pelican Place at Craft Farms to Octave Holdings and Investments for $16 million. CMX Cinemas, Books-a-Million, Bed Bath & Beyond and Dollar Tree anchor the 83%-occupied property.

Hoover, Alabama: Map Development sold the 33,625-square-foot Stadium Trace Village to Liberty Retail Properties for $13.9 million. SRS Real Estate Partners represented the seller. Built in 2019, Stadium Trace Village is shadow-anchored by Aldi, Duluth Trading Co. and UAB Medicine. The center is 100% occupied by retailers like OHenry’s Coffees, Edgar’s Bakery, Mooyah, Taco Mama, Super Chix and Cookie Cutters, which does haircuts for kids.

Duarte, California: A 19,497-square-foot, CVS-anchored center in Los Angeles County sold for $12 million. Hanley Investment Group Real Estate Advisors represented the buyer, a private investor from Monrovia, California. The seller was Lake Development, which developed the two-acre property in 2001. Bank of America and Children First Pediatric Group fill out the rest of the center. CVS was responsible for maintaining the entire property, so it operated as a quasi-single-tenant investment.

Edwardsville, Pennsylvania: Joe Amato Properties sold Gateway Shopping Center for $10 million to Musto & Daughter Real Estate. The 194,000-square-foot center is 90% occupied by such tenants as Life Time fitness and Subway.

Tulsa, Oklahoma: A 1031 exchange buyer from San Jose, California, purchased a 102,000-square-foot, Burlington-anchored property for $9.1 million. The center encompasses two buildings and an outparcel occupied by DXL. “Burlington has communicated their intent to decrease their average store size and operate in the 25,000- to 30,000-square-foot range moving forward,” said Mike Sladich, regional director and partner in Stan Johnson Co., which represented the seller, a Baltimore-based investor. “Because this site featured a larger floorplate commitment of 55,000 square feet, there was little to no interest from institutional investors that typically would have jumped to acquire an asset like this. However, this opened the door for private investors.”

Hiram, Georgia: Ardent, represented by Colliers, sold the 78,346-square-foot Paulding Pavilion for $8.3 million to a private investor. Built in 1996 and renovated in 2004, Paulding Pavilion is fully leased to tenants that include Bargain Hunt, Big Air Trampoline Park and America’s Best Contacts & Eyeglasses.

San Bernardino, California: Red Mountain Group sold a restaurant building for $8.2 million to a San Diego high-net-worth investor represented by Lee & Associates. The 4,086-square-foot property was built in 2017 on 1.2 acres. Raising Cane’s Chicken Fingers has more than 11 years remaining on the absolute triple-net lease. SRS National Net Lease Group represented the seller.

Allston, Massachusetts: Two properties totaling 12,000 square feet in Union Square traded for $8 million. 1-9 N. Beacon St./491 Cambridge St. is a 5,700-square-foot, single-story building on a 9,900-square-foot lot. The property is contiguous with 479-489 Cambridge St., a single-story, 6,100-square-foot building on a 9,500-square-foot lot. KeyPoint Partners represented the seller and procured the buyer.

Pittsfield, Massachusetts: Wells Fargo sold its 64% stake in the 72,014-square-foot, Stop & Shop-anchored Del Alba Plaza for $3.85 million to NNM Realty Trust. NNM is the parent of two other trusts that each own 18% of the 13-acre property, which is 93% occupied by a bank and a gas station. The new owner plans to attract a national tenant to the vacant space.

Baton Rouge, Louisiana: Goodrich Management Corp. sold a 100,000-square-foot retail property anchored by Furniture Gallery to local investors for $3.8 million. The 16-acre property is 100% occupied and sits near a former mall that has been converted to an Amazon distribution center.

Hazelton, Pennsylvania: Elestan Realty Co. sold the 14-acre, 168,000-square-foot Church Hill Mall to an LLC, which plans to rename the property Church Hill Commons and invest $2 million in renovations. Ollie’s bargain store and Key Food anchor the property. The rent roll also includes Fine Wine & Goods Spirits, Angelique Boutique, Physical Therapy at St. Luke’s and Fyzical Therapy and Balance Centers. The complex also includes outparcels occupied by Firestone Complete Auto Care and a buffet.

St. Matthews, Kentucky: Kaden Cos. acquired the 220,000-square-foot Best Buy Center from the developer, Bruce Shinbach. Tenants at the 50-year-old property include Best Buy, Total Wine & More, Frontgate and DSW. The buyer will rename the property Saint Matthews Gateway.

McDonough, Georgia: Halpern Enterprises bought the 80,773-square-foot McDonough West near Atlanta. Built in 2000, it’s 92% occupied and anchored by a 30,000-square-foot Goodwill store and donation center. National tenants include Planet Fitness, Dollar Tree, Subway and Cato.

Boca Raton, Florida: CenterSquare bought HSBC Plaza, a 46,000-square-foot property leased to CVS, Dunkin’, MedExpress, Sage Dental, The Studio salon and day spa and West Boca Veterinary Center. CenterSquare intends to update signage, paint and landscaping. The company will rebrand the property as Shoppes at Yamato Corner.

Helena, Montana: Citivest Commercial and Sage Investco acquired a 116,992-square-foot former Shopko. The property, which also includes two pads, sits within a larger center that’s anchored by Albertsons, Target, Joann and Ross Dress for Less. The buyer plans to renovate to accommodate a new tenant.