Pleasanton, Texas — Headwall Investments has sold Gorman Plaza, an 18,000-square-foot retail center in Pleasanton, roughly 36 miles south of San Antonio. Situated along Texas State Highway, the center was 89 percent leased to a mix of tenants including Hibbett Sports, Wingstop, James Avery, Papa Johns Pizza and AT&T at the time of sale. Originally built in 2015, the property sits on 3 acres, according to LoopNet Inc. The buyer and sales price were not released. Since acquiring Gorman Plaza in 2020, Headwall’s portfolio has grown to span the four major metros …
Memphis, Tenn. — JLL Capital Markets has secured $25.1 million in refinancing for Poplar Plaza, a 350,000-square-foot regional power center located near the University of Memphis. Brett Paulsrud, Gregg Shapiro, Amy Lousararian and Michael Schwarze of JLL’s Debt Advisory team arranged the seven-year, fixed-rate loan through Renasant Bank on behalf of the borrower, Finard Properties. The financing will support the interior and exterior renovation of The Angle, a 14,015-square-foot, multi-bay building on the corner of Poplar Avenue and South Highland Street. Kroger, which has operated at Poplar Plaza for more …
Erie, Colo. — Evergreen Devco Inc. has broken ground on Erie Highlands, a 12.7-acre neighborhood retail development located in Erie, approximately 27 miles north of Denver. Situated at the southwest corner of Country Road 5 and Erie Parkway, the development will provide dining options and retail services to serve the Town of Erie’s expanding residential base and the adjacent Erie High School community. Evergreen Devco originally acquired the site in January 2025. Golden Triangle Construction will execute the onsite and offsite horizontal infrastructure development, while Legend Partners will handle leasing …
Brooklyn, N.Y. — Blue Owl Capital has provided $41.3 million in financing for the acquisition of The Shops at Front & York, the 150,000-square-foot retail component of the larger Front & York mixed-use development. Situated in Brooklyn’s DUMBO neighborhood and built in 2021, The Shops at Front & York is anchored by LifeTime Fitness and spans an entire city block. Max Ralby and Jordan Roeschlaub of Newmark secured the single-source, fixed-rate financing on behalf of the borrowers, Namdar Realty Group and Klosed Properties.
Chattanooga, Tenn. — Chattanooga-based CBL Properties has acquired four enclosed regional malls from Washington Prime Group for $178.9 million. The properties include Ashland Town Center in Ashland, Kentucky; Mesa Mall in Grand Junction, Colorado; Paddock Mall in Ocala, Florida; and Southgate Mall in Missoula, Montana. CBL says it is focused on owning and managing successful enclosed malls in dynamic and growing middle markets. The deal suggests mall recovery extends beyond luxury properties, driven by limited retail construction since 2008, according to The Wall Street Journal. Ashland Town Center is a single-level …
Virginia Beach, Va. — National Asset Services (NAS) and Colliers have negotiated the $8.6 million sale of the 22,933-square-foot Lynnhaven Square in Virginia Beach on behalf of the shopping center’s ownership group. The center was last acquired in 2005 by a group of eight tenant-in-common (TIC) investors. NAS has served as the asset management company for the group since 2008. Shirlee Kingsley of NAS secured a refinancing solution in 2015 that preserved the original TIC ownership structure and its tax advantages. Lynnhaven Square has maintained full occupancy both during the 2015 …
Cape Coral, Fla. — CrownPoint Partners has arranged the $4.5 million sale of Merchants Plaza, a 15,000-square-foot, multi-tenant neighborhood retail center in Cape Coral. Located at 155-159 Hancock Bridge Parkway, the center sits on 1.2 acres and was fully leased to seven tenants including Tires Plus, PI Pizza, Hancock Smoke Shop, Lee Nails, Floral Designs, Palm Tree Massage Spa and Cape Palace Arcade at the time of sale. According to CrownPoint Partners, the center was refurbished in 2023 with a new roof, upgraded HVAC systems, LED lighting, a new pylon …
Durham, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes upon completion. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an …
Seattle — Seattle-based fashion retailer Nordstrom Inc. plans to open five new Nordstrom Rack outlet stores next year. The stores will be located in Elmwood, Louisiana; Williamsburg, Virginia; Canton, Ohio; Deptford, New Jersey; and Mansfield, Massachusetts. Nordstrom Rack is the off-price retail division of Nordstrom Inc. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty products, home decor and shoes from many of the top brands sold at traditional Nordstrom stores. The Elmwood location will open in spring 2026, while the remaining openings are scheduled to debut …
Merritt Island, Fla. — MHCommercial Real Estate Fund II, a private equity fund launched by South Florida-based commercial real estate services firm NAI Merin Hunter Codman, has purchased Merritt Crossing, a 90,000-square-foot shopping center on Florida’s Space Coast, for approximately $9.1 million. Situated across 15.3 acres on Merritt Island, the property was built in 1983 and renovated in 2002. DG Market and Planet Fitness anchor Merritt Crossing, which was 92.3 percent leased at the time of sale. Other tenants include The Health Bar, a hair studio, a daycare and multiple …