Author

Abby Cox

CVS-pharmacy-Placentia-CA
Company newsNewsRetailersRhode Island

CVS Health to Separate Pharmacy Business, Form Two Publicly Traded Companies

by Abby Cox

Woonsocket, R.I. — Woonsocket-based CVS Health has unveiled plans to separate into two independent, publicly traded companies. A healthcare solutions company will comprise Aetna, CVS Caremark, CVS Specialty, Oak Street Health and Signify Health. In the interim, this company will be referred to as “CVS Health.” Founded in 2012, Oak Street Health offers clinics for older adults across 27 states. The national retail pharmacy and community healthcare company will comprise approximately 9,000 CVS pharmacies, mail pharmacy, MinuteClinic and the Health100 technology services business. This company will be named “CVS Pharmacy.” …

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Lamar Station Plaza
ColoradoInvestment salesNews

Core Acquisitions, Midloch Investment Buy Shopping Center Near Denver for $30.2 Million

by Abby Cox

Lakewood, Colo. — Deerfield, Illinois-based Core Acquisitions and Chicago-based Midloch Investment Partners have acquired Lamar Station Plaza, a regional shopping center in Lakewood, approximately five miles west of downtown Denver. An undisclosed seller sold the property for $30.2 million. Lamar Station Plaza features 271,632 square feet of retail space anchored by Casa Bonita, a Mexican restaurant and entertainment destination owned by “South Park” television show creators Trey Parker and Matt Stone. The 1,000-seat Casa Bonita features live entertainment with an indoor waterfall and cliff-diving pool and accommodates more than 650,000 visits …

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Village at Lee Branch
AlabamaInvestment salesNewsPower centers

JLL Negotiates $32.5 Million Sale of Power Center in Birmingham, Alabama

by Abby Cox

Birmingham, Ala. — JLL has negotiated the $32.5 million sale of the second phase of Village at Lee Branch, a power center located at 1201 Doug Baker Blvd. in Birmingham. Brad Buchanan, Jim Hamilton and Anton Serafini of JLL represented the seller, Atlanta-based Cygnus Capital, in the transaction. The buyer was Richmond, Virginia-based Hackney Real Estate Partners. Phase II of the project totals 223,300 square feet. Situated in Birmingham’s Meadowbrook submarket along U.S. Highway 280, Village at Lee Branch II was 83 percent leased at the time of sale to …

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Magnolia-Marketplace_NOLA
Investment salesLouisianaNews

Matthews Brokers Sale of Magnolia Marketplace Shopping Center in New Orleans

by Abby Cox

New Orleans — Matthews has brokered the sale of Magnolia Marketplace, a 115,281-square-foot shopping center located at 2900 South Claiborne Ave. in New Orleans. Pierce Mayson, Kyle Stonis and Boris Shilkrot of Matthews represented the locally based seller, Stirling Properties, and sourced the buyer, Agree Realty. The sales price was not disclosed, but the deal marks the highest sales price for a retail property sold within New Orleans’ Mid-City/Central City submarket within the past 10 years, according to data from CoStar Group. Built in 2015 by Stirling, Magnolia Marketplace was fully …

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DevelopmentGrocery-anchoredNewsPennsylvania

Wegmans to Anchor 168,000-Square-Foot Galleria of Mt. Lebanon Shopping Center in Metro Pittsburgh

by Abby Cox

Mt. Lebanon, Pa. — Roadside Development and Wegmans Food Markets have announced that Wegmans will serve as the anchor tenant at Galleria of Mt. Lebanon, a 168,000-square-foot shopping center located in Mt. Lebanon, roughly five miles south of downtown Pittsburgh. The company broke ground on the 115,000-square-foot grocery store in August 2026, which is anticipated to open in fall 2027. Galleria of Mt. Lebanon originally opened in 1965 as a Kaufmann’s department store, where the property was later converted into an indoor shopping mall in 1988. Roadside and Wegmans plan to …

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Lakewood-Center-Lakewood-CA
CaliforniaInvestment salesNews

Faris Lee Brokers $37.3 Million Sale of 97,319-Square-Foot Retail Property in Lakewood, California

by Abby Cox

Lakewood, Calif. — Faris Lee Investments has arranged the sale of a 97,319-square-foot portion of Lakewood Center, a retail center located in Lakewood. A consortium of multiple owners sold the asset to an undisclosed seller for $37.3 million. Situated on 5 acres within Lakewood Center, the sold portion is leased to tenants including Burlington, 24 Hour Fitness and Bank of America. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee represented the seller in the deal. This is the second large portion of Lakewood Center that Faris Lee …

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10030-Innovation-Campus-Way-Johnstown-OH
Investment salesNewsOhio

CBRE Negotiates $15.6 Million Sale of Convenience Store Property in Suburban Columbus, Ohio

by Abby Cox

Johnstown, Ohio — CBRE has negotiated the $15.6 million sale of a newly developed truck stop and convenience store property occupied by 7-Eleven (Speedway) in Johnstown near New Albany. The 4,816-square-foot property sits at the entrance to the 9,000-acre New Albany International Business Park. 7-Eleven occupies the asset under a new 15-year triple-net lease. CBRE’s Melissa Marshall, Ian Schroeder and David McNevin represented the buyer, a private investor based in Southern California. The seller was an Ohio-based commercial real estate developer.

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Kyle-Park
DevelopmentMixed-useNewsTexas

Joint Venture Breaks Ground on Retail Component of 101-Acre Mixed-Use Project in Kyle, Texas

by Abby Cox

Kyle, Texas — A joint venture between Houston-based developer NewQuest and Transwestern Investments has broken ground on the retail component of Kyle Park, a 101-acre mixed-use project located at the northeast corner of I-35 and Bebee Road in Central Texas. The retail component of Kyle Park will feature a 412,588-square-foot lifestyle center that is preleased to tenants such as Dick’s Sporting Goods, Burlington, HomeGoods, ULTA Beauty, TJ Maxx, Barnes & Noble, Boot Barn and EōS Fitness. The development is also planned to include hospitality and multifamily uses. An expected completion …

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707-E-Balboa-Ave-Newport-Beach-CA
CaliforniaEntertainmentInvestment salesNews

Coastal Commercial Arranges Sale of Historic Balboa Theater in Newport Beach, California

by Abby Cox

Newport Beach, Calif. — Coastal Commercial has brokered the sale of Balboa Theater, a nearly century-old landmark theater located at 707 E. Balboa Blvd. in Newport Beach. A local family office sold the property to a local private real estate investor for an undisclosed price. The new owner plans to restore the theater, which originally opened in 1928 as Ritz Theater. The theater ultimately closed in 1991 and despite previous restoration efforts, the property has remained closed for approximately 35 years. Coastal Commercial represented the seller, while Christian Emerson of The …

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Stony Point Village
Grocery-anchoredInvestment salesNewsVirginia

ZRP Sells 112,238-Square-Foot Stony Point Village in Richmond, Virginia, for $41.3 Million

by Abby Cox

Richmond, Va. — Ziff Real Estate Partners (ZRP) has sold Stony Point Village, a 112,238-square-foot neighborhood center located in the Richmond suburb of Bon Air. Asana Partners purchased the property for $41.3 million. ZRP, which acquired Stony Point Village in 2019, has repositioned the center with new tenants such as Trader Joe’s, Sephora and Planet Fitness, while also completing a capital improvement program. Stony Point Village was 98 percent leased at the time of sale.

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