Toledo, Ohio — Atlantic Capital Partners has arranged the $6.2 million sale of North Towne Commons, a 98,268-square-foot retail center located in Toledo. North Towne Commons, which was 58 percent leased at the time of sale, features a mix of tenants including Ross Dress for Less, Five Below, Michaels, Shoe Show, Pet Supplies Plus and Aaron’s. Target and Kroger shadow anchor the property. Teddy Driscoll of Alantic Capital Partners represented both the buyer and the seller in the transaction.
Los Angeles — Paragon Commercial Group has acquired a 46,055-square-foot shopping center located in the Tujunga neighborhood of Los Angeles. The property is anchored by Smart & Final, a tenant of more than 30 years, and Goodwill, which has occupied the center for 25 years. Paragon plans to upgrade the center with improvements to the common area, façades, lighting and signage. Greg Offsay and Caleb Morrison of illi Commercial Real Estate represented the buyer in the off-market transaction. The seller was the family of the original developer that had owned and operated …
Chicago — Mid-America Real Estate Corp. has negotiated the sale of Lincoln Park West, a 37,615-square-foot retail property located in Chicago’s Lincoln Park neighborhood. The property offers value-add potential through the lease-up or adaptive reuse of the 19,531-square-foot second floor. Tenants include PNC Bank, Starbucks Coffee, RJ Grunts (Lettuce Entertain You) and Lincoln Park Preschool. The weighted average lease term is seven years. George Ghattas, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, LLJ Ventures. A private local investor was the buyer.
Boston — Taiwanese beverage chain Gong cha has signed a 50-unit exclusive area development agreement in Texas with seasoned franchise operator Bakers Acres & Cattle Co (BACC). The agreement marks the largest direct franchising deal in Gong cha history. This deal follows Gong cha’s recent acquisition of master franchise rights for 170 U.S. locations across 13 states, including Texas. Under the 50-unit deal, BACC will further develop Gong cha’s presence across four major Texas markets over the next seven years, including Austin, Houston, San Antonio and Dallas. Since launching direct franchising …
Sparks, Nev. — Idaho-based Alturas Capital Partners (ACP) has acquired the 421,000-square-foot lifestyle component of Legends at Sparks Marina, a 1.2 million-square-foot mixed-use project located in Sparks, approximately four miles east of downtown Reno. The property was purchased for more than $100 million, as reported by the Reno Gazette Journal. Legends at Sparks Marina, which was 97 percent leased at the time of sale, features a mix of more than 65 national and regional tenants including H&M, Nike, Sephora, Five Below, Yard House, Galaxy Theatres, Burlington and Cavender’s. Alongside the retail …
Wesley Chapel, Fla. — SRS Real Estate Partners has brokered the $7.9 million sale of Promenade, a three-tenant retail property located in Wesley Chapel, roughly 24 miles north of downtown Tampa. Built in 2025, the 9,222-square-foot property was fully leased at the time of sale to Heartland Dental, GoodVets and Ann’s Salon & Spa. William Wamble, Patrick Nutt and Connor Barton of SRS represented the seller, a Florida-based developer and investor. The all-cash buyer was a Florida-based investor.
Southlake, Texas — JLL Capital Markets has secured financing for Cornerstone Plaza, a 51,664-square-foot retail center located in Southlake, a northern suburb of Fort Worth. John Rose, Kristi Leonard and Chad Lisbeth of JLL represented the borrower, Brownlee Waggoner Holdings, in the transaction. Hillcrest Bank provided the loan. Built in 2002, Cornerstone Plaza comprises two buildings and is situated on nearly six acres. The property is currently fully leased to eight tenants including Cook Children’s Medical Center, Activate Games, Cristina’s Fine Mexican Restaurant and Smoothie King, as well as several service-oriented …
The Woodlands, Texas — Houston-based Palo Duro Commercial Partners has negotiated the sale of The Shoppes at Sawdust, a 13,500-square-foot retail center located in The Woodlands, roughly 30 miles north of Houston. The property, which was fully leased at the time of sale, features a mix of tenants including 5Point Credit Union, Little Caesar’s, Cloud 9 Dental and Jimmy John’s. Walmart shadow anchors the center. Stephen J. Pheigaru and Chris Reul of Palo Duro represented the seller, an entity doing business as Sawdust Retail LP, in the transaction. The buyer …
Little Elm, Texas — Marcus & Millichap has arranged the sale of India Bazaar Plaza, a 13,079-square-foot retail property located in Little Elm, approximately 33 miles north of downtown Dallas. Built in 2018, the retail center is fully leased to South Asian grocery operator India Bazaar, and Shahnaz Salon & Threading, under triple-net leases. Scott Abeel and Philip Levy of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both private investors.
Marietta, Ga. — Sterling Organization has acquired Merchants Walk, a 271,992-square-foot shopping center located in Marietta, roughly 20 miles northwest of downtown Atlanta, for $93.2 million. The investment was made on behalf of Sterling’s $600 million equity institutional value-add fund, Sterling Value Add Partners IV. Whole Foods Market anchors Merchants Walk, which was 90 percent leased at the time of sale. Additional tenants include Marshalls, PetSmart, Old Navy, DSW, Ulta Beauty, Office Depot and Georgia Theater Company Cinemas. EDENS, an owner, developer and operator of open-air retail and mixed-use properties, was …
