Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of the Shops at Broadway Faire, a multi-tenant retail pad located in Fresno. Tenants at the property, which is situated on an outparcel to a grocery-anchored shopping center, include Red Robin, FedEx, Conroy’s Flowers, Liquor 4U and OneMain Financial. Eric Wohl and CJ Kiehler of Hanley represented the seller, a New York-based investment trust, in the transaction. A local private investor acquired the pad.
Lawrenceville, N.J. — Four new tenants are opening at Mercer on One, a retail development located in Lawrenceville, roughly 40 miles outside Philadelphia. Bloomingdale’s the Outlet Store, Crate & Barrel Outlet and J. Crew Factory are now open at the property, occupying 18,494; 23,446; and 6,100 square feet, respectively. Sephora is also scheduled to open a store at the development on Nov. 15. The landlord, Federal Realty Investment Trust, completed a rebranding of the 551,000-square-foot property, formerly Mercer Mall, in October 2023.
Johns Creek, Ga. — Toro Development Co. has obtained construction financing for Medley, a $560 million mixed-use project in the Atlanta suburb of Johns Creek. Toro plans to break ground on the 43-acre development in December, with the opening scheduled for late 2026. The financing includes an undisclosed amount of equity from private equity firm Ascentris, as well as a $158 million construction loan from Banco Inbursa. Upon completion, Medley will feature 150,000 square feet of retail, restaurant and entertainment space; a 175-room boutique hotel; 110,000 square feet of office space; …
Helena, Mont. — Wood Investments Cos. has secured a $20.3 million permanent loan for the refinancing of Helena Skyway Regional Shopping Center in Helena. Wells Fargo provided the financing. Tenants at the property, which totals 164,121 square feet, include T.J. Maxx, Ulta Beauty and Hobby Lobby. Sierra and Chick-fil-A also recently signed leases at the center and are scheduled to open this November and at the end of 2025, respectively. Wood Investments acquired the property, which is now fully leased, in September 2022.
Highland, Calif. — Progressive Real Estate Partners has brokered the $9.5 million sale of a single-tenant retail property located in Highland. Situated on an outparcel to Highlands Crossing, a regional shopping center, the property is occupied by a Chevron Station with a 3,000-square-foot ExtraMile Convenience Store and Express Car Wash. G & M Oil Co. acquired both the real estate and the business in the transaction. Victor Buendia of Progressive represented the seller, a San Diego-based private investor, in the sale. Scott Olson of C-Store Realty represented the buyer. The property …
Homestead, Fla. — Linkvest Capital and MMG Equity Partners have acquired Homestead Station, a 4.8-acre mixed-use development located in Homestead, approximately 30 miles southwest of Miami. LV Lending was the seller, and the transaction was completed through a deed in lieu of foreclosure. Delivered in 2019, Homestead Station features tenants including Evo Entertainment + IMAX and retail and dining space, as well as a 1,100-space parking garage. Roughly 18,000 square feet of vacant space is currently available for lease at the property.
Roswell, Ga. — Sterling Organization has sold Roswell Village Shopping Center, a retail center located in Roswell, roughly 25 miles north of Atlanta. Revesco Properties purchased the center for an undisclosed price. Tenants at the property, which was 94 percent leased at the time of sale, include Ross Dress for Less, Marshalls and Crunch Fitness. Sterling originally acquired the center in 2014 for $10.6 million. Jim Hamilton of JLL brokered the sale on behalf of Sterling.
Katy, Texas — Trademark Property Co. has been awarded the leasing assignment for LaCenterra at Cinco Ranch, a 412,900-square-foot retail center located in the Houston suburb of Katy. Current tenants at the property, which is situated within the Cinco Ranch master-planned community, include Trader Joe’s, Alamo Drafthouse Cinema, Athleta, CAVA, Lululemon, Lovesac, Warby Parker, Postino, Dish Society, Sephora, Starbucks Coffee, Pure Barre and Nando’s PERi-PERi. Daniel Goldware of Trademark will lead leasing at the center, which is managed by JLL.
Atlanta’s retail market is defined by high rents, strong demand and obstacles to both sales and development that have stymied activity. In terms of fundamentals, it’s hard to point to a time when Atlanta’s retail market was healthier than it stands today. For starters, the market’s retail space commands the highest asking rental rates on record. Since the end of 2019, Atlanta’s asking rental rates have increased by a mean of 37 percent, according to second-quarter research from Marcus & Millichap. “We are seeing asking rental rates reach all-time highs …
Port St. Lucie, Fla. — PEBB Enterprises and Banyan Development have acquired a land parcel in Port St. Lucie, with plans to develop a 14.2-acre retail project at the site. Dubbed the Shoppes at Southern Grove, the retail center will be situated within the Tradition master-planned community. This marks the second retail development within Tradition for the joint venture, which acquired the 23-acre site from Mattamy Palm Beach LLC for $7.5 million. Upon completion, the project will feature additional outparcels available for ground lease ranging in size from 1 to 2.4 …
