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Abby Cox

Algonquin Commons
IllinoisInvestment salesNews

Red Mountain Group Sells 548,000-Square-Foot Power Center in Suburban Chicago

by Abby Cox

Algonquin, Ill. — Red Mountain Group has sold Algonquin Commons, a 548,000-square-foot power center located in the Chicago suburb of Algonquin. Nuveen Real Estate purchased the center for roughly $100 million, as reported by Shaw Local. Algonquin Commons is home to tenants such as Trader Joe’s, The Fresh Market, Nordstrom Rack, Bob’s Furniture, Ulta Beauty, Old Navy, Dick’s Sporting Goods and Barnes & Noble. During its ownership, Red Mountain Group has focused on repositioning and restabilizing the center since its acquisition, including increasing occupancy from 60 percent to more than …

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Carmel Mountain Gateway Plaza
CaliforniaInvestment salesNews

Brixton Capital Acquires Carmel Mountain Gateway Plaza in San Diego for $21.4 Million

by Abby Cox

San Diego — Brixton Capital has acquired Carmel Mountain Gateway Plaza, a 44,230-square-foot neighborhood shopping center in San Diego, for $21.4 million. Built in 1995 and renovated in 2019, Carmel Mountain Gateway Plaza is approximately 75 percent occupied. Ulta Beauty and BevMo! anchor the property, which also offers a value-add opportunity to fill a vacant space formerly occupied by Party City. Kyle Erthner of Urban California Real Estate represented the seller, Torrance, California-based Triwell Properties, in the transaction. Brixton Capital represented itself. Brixton has acquired four additional California shopping centers this …

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Shoppes of Walterboro
Investment salesNewsSouth Carolina

Marcus & Milichap Brokers $9.3 Million Sale of 53,330-Square-Foot Retail Center in Walterboro, South Carolina

by Abby Cox

Walterboro, S.C. — Marcus & Millichap has brokered the $9.3 million sale of Shoppes at Walterboro, a 53,330-square-foot neighborhood retail center located approximately 48 miles west of Charleston. Originally built in 2007 on 7.4 acres, the center was renovated in 2024 with a new roof and awnings, as well as a resurfaced parking lot. Walmart shadow anchors the property, which was 97 percent leased at the time of sale. Additional tenants include Five Below, Dollar Tree, Cato Fashions, Shoe Show, It’s Fashion, AT&T and China Buffet. Al Taf of Marcus & …

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CaliforniaDevelopmentNews

LRE & Co. Receives County Approval for Retail Development in Crescent City, California

by Abby Cox

Crescent City, Calif. — San Rafael, California-based LRE & Co. has received approval from the Del Norte County Planning Department for a major retail development in Crescent City. The 87,120-square-foot site will provide roughly 12,000 square feet of new retail space for the community. The development will feature a quick-service restaurant building, two retail shop pads with drive-thrus, multiple inline tenant spaces and two additional drive-thru pads. Construction is scheduled to start in early 2026, with phase one of leasing already underway. Additionally, tenant agreements have been secured with a national …

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Franklin Crossroads Park
DevelopmentMixed-useNewsPennsylvania

IRG, PREP Funds Acquire Washington Crown Center in Suburban Pittsburgh, Plan Redevelopment

by Abby Cox

North Franklin Township, Pa. — A partnership between Los Angeles-based Industrial Realty Group (IRG) and Cleveland-based PREP Funds has acquired Washington Crown Center, a 450,000-square-foot mall near Pittsburgh, with plans to undertake a redevelopment. As reported by the Observer-Reporter, as well as several other media sources, IRG and PREP Funds are jointly investing $40 million for the transformation of the former mall into a mixed-use hub for retail and business that will be called Franklin Crossroads Park. In addition, according to Pittsburgh Business Times, Great Neck, N.Y.-based Kohan Retail Investment Group originally purchased the …

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Veridian
DevelopmentGrocery-anchoredIllinoisNews

UrbanStreet Group Breaks Ground on 30-Acre Retail District at Veridian in Suburban Chicago

by Abby Cox

Schaumburg, Ill. — UrbanStreet Group has broken ground on a 30-acre retail district at Veridian in the Chicago suburb of Schaumburg. The first phase of the district is expected to open in 2027 for apartments, while the retail portion is scheduled for fall 2026. The Veridian project involves the transformation of the former Motorola headquarters campus. The first phase of the retail district will include 100,000 square feet of walkable retail and international cuisine, anchored by a 26,000-square-foot The Fresh Market grocery store along with 321 apartments and year-round community …

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FloridaInvestment salesNews

Partnership Acquires 800,000-Square-Foot Galleria at Fort Lauderdale Mall, Plans Redevelopment

by Abby Cox

Fort Lauderdale, Fla. — GFO Investments and InSite Group, in partnership with Atlas Real Estate and Prime Finance, have acquired The Galleria at Fort Lauderdale, with plans to redevelop the 800,000-square-foot mall. Robert Given, Brad Capas and Casey Rosen of CBRE represented the seller, Keystone-Florida Holding Corp., in the transaction. The sales price was not disclosed. GFO and InSite Group will oversee redevelopment efforts, while Sandeep Mathrani of Atlas Hill Real Estate will lead leasing at the property. Galleria Mall, an underperforming, super-regional shopping center, will be reimagined into a community-focused destination. …

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Cheyenne Point Plaza
FinanceNevadaNews

RA Centers Arranges $20 Million in Financing for Cheyenne Point Plaza in Las Vegas

by Abby Cox

Las Vegas — RA Centers has arranged $20 million in financing for Cheyenne Point Plaza, a 111,809-square-foot neighborhood center located in Las Vegas. Mariana’s Supermarkets anchors the center, which is fully leased. Other tenants include Dollar General, Intermountain Healthcare, Taco Bell, Panda Express and Subway. Raymond Arjmand and Nader Arjmand of RA secured the financing through JP Morgan.

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Tigawok
LeasingNewsRestaurantsRetailers

New Restaurants, Retailers Join Downtown Burbank in California

by Abby Cox

Burbank, Calif. — Downtown Burbank, the walkable mixed-use neighborhood district in California with more than 400 shops, restaurants and services, has signed leases with 10 new tenants this year. Tigawok, Chubby Dumpling, Jam Jam Tea Studio and Lab Lagree have already opened at the district. Meanwhile, an additional mix of offerings will soon join them, including Supreme Crab, The Melt, iSmash, High Intensity Pilates, Flow Wine & Coffee and Fire Wings. The recent openings of various retailers and restaurants in Downtown Burbank coincides with the completion and development of approximately …

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Publix-anchored shopping center
Company newsFloridaGrocery-anchoredNewsSouth Carolina

JLL to Manage 1 Million-Square-Foot Retail Portfolio for 11North, Bain Capital

by Abby Cox

Florida and South Carolina — JLL has been selected to provide management services for a 1 million-square-foot retail portfolio across South Carolina and Florida. The portfolio comprises 10 open-air shopping centers which include Sawgrass Square and Plantation Promenade in Fort Lauderdale; Miramar Commons in Miramar; Rolling Oaks in Orlando; Promenade at Poinciana and Solivita Marketplace in Kissimmee; New Tampa Center in Tampa; Lake Worth Plaza in Lake Worth; Garden Shops at Boca in Boca Raton; and Point Hope Commons in Charleston. JLL will manage the portfolio on behalf of 11North Partners …

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