Crowley, La. — Time Equities Inc. (TEI) has purchased Crowley Plaza, a shopping center located in Crowley, for $3.4 million. This marks TEI’s first acquisition in the state. Built in 1999, the property totals 27,228 square feet across two multi-tenant buildings. Tenants at the center, which was 78 percent leased at the time of sale, include Game Stop, Sally Beauty Supply, AT&T, Express Urgent Care and USAgencies Insurance. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI in the transaction on an interal basis. Hudson Lambert of STRIVE represented …
Tempe, Ariz. — Thompson Thrift has announced plans to develop South Tempe Square, a 27,119-square-foot retail center, roughly 10 miles outside Phoenix in Tempe. The developer purchased a 3.7-acre site for the project and is scheduled to break ground in the first quarter of 2025. Upon completion, which is scheduled for early 2026, the center will feature four buildings ranging in size from 4,500 to 9,753 square feet.
Burleson, Texas — GBT Realty Corp. is underway on the development of Burleson Commons, a 50,632-square-foot shopping center in Burleson, approximately 15 miles south of Fort Worth. GBT acquired the six-acre land parcel for the project for $2.3 million from Orscheln Farm and Home in August. A 23,256-square-foot Sprouts Farmers Market will anchor the center, which will also feature a 9,000-square-foot Five Below and an additional 8,000 square feet of small shop space. Completion of the development is scheduled for June 2025, with Sprouts scheduled to open that July. BRR Architecture …
Winter Haven, Fla. — Legacy Realty Group Advisors has arranged the $10.3 million sale of Winter Haven Medical Plaza, a retail center located in Winter Haven. Tenants at the 36,637-square-foot property include medical practices and service providers. Jacob Baruch and Ari Warshaw of Legacy represented both the buyer and seller in the transaction.
Phoenix — Whole Foods Market has opened a new, 50,358-square-foot store in Phoenix. Situated within Paradise Valley Mall, the store features more than 330 local items from Arizona, as well as a full-service coffee and juice bar. This marks a relocation from the brand’s previous Paradise Valley store, which was open for 22 years.
Yucca Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2 million sale of a single-tenant retail property located in Yucca Valley. Built in 2023, the property totals 3,596 square feet. Quick Quack Car Wash occupies the property, which is situated within a Stater Bros-anchored shopping center, on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley represented the seller, a California-based private partnership, in the transaction. The team also represented the buyer, a Pennsylvania-based private investor. According to Asher, the buyer owns a portfolio of …
Doral, Fla. — An affiliate of The Easton Group has acquired a single-tenant retail property and adjacent parking lot in Doral for $12 million. Situated within Miami International Mall, the property totals 150,108 square feet. JCPenney occupies the building. “We plan on keeping the current tenant in place as long as the rent payments remain current,” says Edward Easton, chief executive officer and chairman of The Easton Group.
Toronto — Slate Grocery REIT, a Toronto-based owner and operator of grocery-anchored retail properties in the United States, has entered into a $500 million credit facility agreement. The refinancing comprises a $275 million revolving credit facility and a $225 million term loan facility with maturity scheduled for January 2028. The REIT is also in negotiations with lenders to refinance an additional $138 million of upcoming debt maturities. “In today’s financing environment, our ability to refinance half a billion dollars of debt at such favorable economic terms reflects the strength and quality …
Brentwood, Calif. — A joint venture between CenterCal Properties and Heitman has acquired The Streets of Brentwood, a 358,700-square-foot retail center located in Brentwood. The new owners plan to reimagine and enhance the property through the addition of a community gathering space and new retailers and restaurants. “Open-air lifestyle centers have demonstrated strong operating fundamentals post the COVID-19 pandemic,” says Gordon Black, portfolio manager at Heitman. “These fundamentals are further benefitting from minimal new supply and sustained demand from retailers, a trend we believe will continue.”
Harrisonville, Mo. — STRIVE has brokered the sale of Harrisonville Crossing, a 45,260-square-foot retail center located in Harrisonville. The property was 82 percent occupied at the time of sale. Hudson Lambert of STRIVE represented the seller, a California-based investor, and procured the buyer, a Pennsylvania-based investor, in the transaction.