Mission, Texas — Irvine, California-based Faris Lee Investments has brokered the sale of Mission Gateway, a 92,117-square-foot retail center located in Mission. Burlington and Murdoch’s Ranch & Home Supply anchor the property on long term leases. Olive Garden and Jack in the Box, which are also located at the center, were not included in the sale. Don MacLellan, Jeff Conover and Scott DeYoung represented the seller, a Texas-based developer, in the transaction. The buyer was an all-cash REIT.
Chesapeake, Va. — Atlantic Capital Partners has arranged the $12.1 million sale of Woodford Square, an 85,323-square-foot shopping center located in the Hampton Roads city of Chesapeake. Harbor Freights anchors the center, which was fully leased at the time of sale to tenants including Dollar General, Hair Cuttery, Roses Discount Store, Dragon China Restaurant and Med Emporium. Fred Victor of Atlantic Capital represented the seller, New York-based Moxie Equities, in the transaction. The buyer was United Properties.
Fresno, Calif. — Columbia, Maryland-based pickleball concept Dill Dinkers has signed a franchise agreement to open 10 new venues in the Central Valley region of California. Entrepreneurs Bill Revilla and Georgia Revilla will own and operate the locations, which will offer several indoor pickleball courts separated by fences, as well as event space, a ball machine and a reservation system for guests. Founded in 2022, Dill Dinkers currently has nine operating locations in the United States and more than 380 locations under development across Texas, Washington, D.C., North Carolina, Connecticut, South …
Florida’s retail sector continues to thrive due to sustained economic success, with traditional developments filling the gaps around the state. When asked what makes Florida appealing from a retail perspective, Steven Miskew, CEO of Southeast Centers, put it succinctly: “The good macro-economic drivers are here: population growth, lack of supply and low vacancy, all in a pro-business environment.” As Miskew asserts, Florida’s population continues to swell as approximately 1,755 people move into the state daily, according to 2023 data from online self-storage platform StorageCafe. Additionally, U-Haul has ranked Florida as …
Retail-to-restaurant conversions have proven to be a profitable real estate strategy for Golden Corral. The rising costs of new development present an opportunity for retail and restaurant brands to rethink their expansion strategies. One of the most effective ways to fuel growth while mitigating high development costs is by repurposing second-generation spaces — previously occupied retail locations — into thriving restaurant concepts. Golden Corral is leading the charge, targeting these spaces as prime opportunities for conversion and rapid expansion. Why Second-Generation Retail Spaces Work for Restaurants The retail sector is …
How QSRs are powering the rise of hyper-local retail real estate. The quick service restaurant (QSR) industry is reshaping retail real estate by capitalizing on the “15-minute city” trend — a movement where people can access essentials within a short walk, bike ride, or delivery window from home. This shift, fueled by evolving consumer behavior, urban densification, and the rise of digital ordering, is pushing QSRs to prioritize hyper-local presence over traditional highway or regional hubs. The result is a transformation in both real estate development and the metrics that …
Bojangles takes a look at location design and its impact on operations, franchisee success and guest experience. Restaurant design plays a critical role in the success of any QSR brand. From streamlining operations and supporting menu execution to shaping the guest journey, every design decision has a direct impact on restaurant performance. At Bojangles, our approach to location design evolves as we continue to grow as a brand. And, with nearly five decades of experience behind us, evolving with changing consumer, operations, menu, financial and technology trends is something Bojangles …
How healthcare-adjacent retail development is prescriptive for community-centered design. In today’s evolving retail landscape, one of the most promising — and often overlooked — opportunities lies in the land surrounding our nation’s hospitals and medical centers. As healthcare systems continue to expand and consolidate, savvy development executives recognize the immense potential of strategically positioning retail properties in locations that are adjacent to major medical facilities. Doing so combines consistent foot traffic, demographic advantages and an urgent need for community-focused amenities. This was the scenario that RDC’s placemaking design team faced …
Targeted activity is propelling California’s retail market forward as investors chase core assets and consumers drive demand, despite the continued presence of high costs and development hurdles. California’s retail market is a bit of an enigma nowadays. That’s because it’s both resurgent and restrained, as Jimmy Slusher, senior vice president of CBRE’s National Retail Partners-West team, notes. “Retail in California remains resilient despite a more complex economic and political backdrop,” he explains. “While interest rates remain elevated, debt capital for retail has increased, with strong lender demand and relatively tight …
Miami — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located in Miami. Milam’s Markets anchors the property, which was fully occupied at the time of sale. Additional tenants include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte, North Carolina-based Asana Partners.
