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Abby Cox

Church Street Plaza
IllinoisInvestment salesNews

Continuum Development Buys Church Street Plaza in Evanston, Illinois, for $31.2 Million

by Abby Cox

Evanston, Ill. — Chicago-based Continuum Development has purchased Church Street Plaza, a 144,833-square-foot retail center located near Northwestern University in Evanston for $31.2 million. Originally built in 2000 and redeveloped in 2023, the property is 98 percent leased to tenants including Sky Zone and AMC Theatres, among others. Continuum Development is also leading a proposal for a 27-story apartment tower at Church and Clark Streets that would comprise 358 units and 2,900 square feet of ground-level retail.

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The Levee District
IllinoisInvestment salesNews

JLL Arranges $21 Million Sale of 137,304-Square-Foot Power Center in Central Illinois

by Abby Cox

East Peoria, Ill. — JLL Capital Markets has arranged the $21 million sale of The Levee District, a 137,304-square-foot, open-air retail power center located within the central Illinois town of East Peoria. Developed in 2013 on 11 acres, The Levee District consists of three buildings that are 94 percent leased. Tenants include Ulta Beauty, Best Buy, Ross Dress for Less and Boot Barn. The center is also shadow-anchored by Target, McDonald’s, Panera Bread and Red Robin. Michael Nieder and Brian Page of JLL’s investment sales and advisory team represented the seller, …

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Cortez Plaza
FloridaInvestment salesNews

CORE Acquires 260,000-Square-Foot Cortez Plaza in Metro Tampa

by Abby Cox

Bradenton, Fla. — An affiliate of Miami-based CORE Investment Management has acquired Cortez Plaza, a 260,000-square-foot shopping center in Bradenton, approximately 32 miles south of Tampa. The seller and sales price were not disclosed, but the Business Observer reported that an affiliate of Richmond, Virginia-based Hackney Real Estate Partners sold the property for $39.4 million. Cortez Plaza features a mix of tenants including Sprouts Farmers Market, Burlington, PetSmart, Shoe Carnival and LA Fitness, along with newly developed outparcels occupied by Chick-fil-A and Starbucks Coffee. Situated on roughly 22 acres, the …

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Fairfield, California
CaliforniaInvestment salesNews

Partnership Negotiates Sale of 24,604-Square-Foot Retail Center in Fairfield, California

by Abby Cox

Fairfield, Calif. — A partnership between Faris Lee Investments and John Cumbelich & Associates has negotiated the sale of a 24,604-square-foot, two-building retail center located at 1370-1380 Holiday Lane in Fairfield. Built in 2005 on 2.3 acres, the center is roughly 42 percent occupied. Tenants include Aspen Dental, Peet’s Coffee & Tea, Togo’s Sandwich Shop and Golden 1 Credit Union. Additionally, the center features an anchor space totaling 14,375 square feet, which is currently unleased. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee, along with John Cumbelich and Joe …

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Legacy Park
CaliforniaDevelopmentMixed-useNews

Vestar, Pacific Proving to Develop $2 Billion Mixed-Use Project in Mesa, Arizona

by Abby Cox

Mesa, Ariz. — Vestar, a shopping center and mixed-use developer based in Phoenix, has partnered with Pacific Proving LLC, a landowning entity that controls 1,805 acres in the state capital’s East Valley, to co-develop a $2 billion mixed-use project. Legacy Park will span 200 acres at Pacific Proving’s site in Mesa near the confluence of Gilbert and Queen Creek. The groundbreaking is set for 2027. “As someone who has believed in the potential of this area and land for decades, we are thrilled to partner with Vestar to bring this phase …

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Uptown Boca
FloridaGrocery-anchoredInvestment salesNews

JLL Arranges $118.5 Million Sale of 194,927-Square-Foot Shopping Center in Boca Raton, Florida

by Abby Cox

Boca Raton, Fla. — JLL Capital Markets has arranged the $118.5 million sale of Uptown Boca, a 194,927-square-foot mixed-use development located in Boca Raton. Whole Foods Market anchors the property, which was fully occupied at the time of sale. Additional tenants include Life Time Fitness, REI, HomeSense and Sephora. Along with several retailers and restaurants, Uptown Boca also features 456 luxury apartment units. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street …

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Bear Creek Plaza
Grocery-anchoredInvestment salesNewsOregon

Marcus & Millichap Brokers $25.3 Million Sale of Bear Creek Plaza in Medford, Oregon

by Abby Cox

Medford, Ore. — Marcus & Millichap has brokered the $25.3 million sale of Bear Creek Plaza, a 189,670-square-foot shopping center located in Medford, roughly 27 miles north of the California border. Originally built in 1977 on nearly 17 acres, the fully leased property is anchored by Dollar Tree, Bi-Mart and Crunch Fitness. Additional tenants include McDonald’s, Wendy’s, Carl’s Jr., First Interstate Bank, OneMain Financial, Metro PCS, Papa Murphy’s and Sally Beauty Supply. Clayton Brown and Ruthanne Loar of Marcus & Millichap represented the seller, an entity doing business as Bear Creek …

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FinanceFloridaGrocery-anchoredNews

International Finance Provides $13.3 Million Financing for Plant City Crossing in Metro Tampa

by Abby Cox

Plant City, Fla. — International Finance has provided a $13.3 million mortgage for Plant City Crossing, an 85,252-square-foot retail center located in Plant City, roughly 23 miles west of Tampa Bay. The borrower is Fraga Plant LLC, an affiliate of Coral Gables, Florida-based Fraga Properties. Publix anchors the property, which features a mix of additional tenants including Dollar Tree and Burger King.

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Son of a Butcher
Investment salesNewsTexas

Hanley Investment Group Negotiates Sale of Two Single-Tenant Retail Properties in Grapevine, Texas

by Abby Cox

Grapevine, Texas — Hanley Investment Group Real Estate Advisors has negotiated the sale of two newly constructed, single-tenant drive-thru retail properties located in Grapevine. Restaurant concept Son of a Butcher occupies a 2,389-square-foot building on a 15-year absolute triple-net ground lease, while Chicago hot dog restaurant Portillo’s occupies a 6,250-square-foot building on a 10.5-year absolute triple-net ground lease. Both properties are a part of a newly developed retail center that also includes additional restaurants such as Firebirds Wood Fired Grill, Rock & Brews and Velvet Taco. Bill Asher and Jeff Lefko …

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Caste Village
Grocery-anchoredNewsPennsylvania

Carderock, Partner Acquire 221,284-Square-Foot Shopping Center in Suburban Pittsburgh

by Abby Cox

Pittsburgh — A joint venture between Washington, D.C.-based Carderock and an unnamed partner has acquired Caste Village, a 221,284-square-foot neighborhood shopping center located in the Whitehall Borough of Pittsburgh. Grocer Giant Eagle anchors the property, which features a mix of additional tenants such as Banfield Pet Hospital, St. Clair Health, Fitness 19 and Princess Lanes Bowling Center. Carderock plans to renovate the shopping center with major upgrades including a revitalized Caste Commons gathering area, façade and systems improvements and re-tenanting spaces including a former Shell gas station and a recently vacated …

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