Spartanburg, S.C. — Reedy River Retail at SVN Blackstream has brokered the sale of Westgate Mall, a 431,306-square-foot retail property located in Spartanburg. Namdar Realty acquired the mall for roughly $15 million. Belk, Dillard’s, JCPenney and Costco anchor the property, which is situated on 52 acres. Dustin Tenney and Daniel Holloway of Reedy River Retail arranged the transaction.
Fairfax, Va. — Federal Realty Investment Trust has announced plans to renovate Pan Am Shopping Center, a 228,000-square-foot retail center located in Fairfax. Scheduled to begin later this month, the project will include new paint, canopy ceiling and lighting, façade upgrades and the addition of two trellis features with new furniture, landscaping and signage. Federal Realty acquired the property, which was originally built in 1979, in 1993. Tenants at the center include Safeway, Microcenter, Michaels, Glory Days Grill, L’Image Beauty, Starbucks Coffee and CVS/pharmacy.
McKinney, Texas — The Picklr has opened a 28,016-square-foot venue in the northern Dallas suburb of McKinney. Situated within Eldorado Plaza, the facility will feature nine full-size pickleball courts and one warm-up court. Whitestone REIT owns the property, which is anchored by Trader Joes. Other tenants at the center include Starbucks Coffee, Hollywood Feed and Christina’s Mexican Restaurant.
Laredo, Texas — Kobalt Investment Co. has partnered with Stonefield Investment Advisors and Espada Real Estate to acquire Rio Norte Shopping Center in Laredo. Ross Dress for Less anchors the 222,291-square-foot property. Other tenants at the center include Michaels, Petco, Dollar Tree, Shoe Carnival, Five Below, dd’s DISCOUNTS and Spec’s. Adam Howells and Matthew Barge of JLL Capital Markets brokered the transaction on behalf of the seller.
Naperville, Ill. — Mid-America Real Estate Corp. has arranged the sale of Iroquois Center, a 108,412-square-foot shopping center in Naperville, roughly 30 miles outside Chicago. Northpond Partners acquired the property for an undisclosed price. Tenants at the center include Planet Fitness, Duly Health and Care, Illiana Financial Credit Union and Cookies by Design. Joe Girardi, Rick Drogosz and Ben Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. Pine Tree managed the property at the time of sale.
North Charleston, S.C. — Marcus & Millichap has brokered the $18.8 million sale of The Shoppes at Montague Corners, a retail center located in North Charleston. Planet Fitness anchors the property, which totals 106,518 square feet. The 23-tenant center was 94.6 percent occupied at the time of sale. Other tenants at the property include Dollar General, Harbor Freight Tools and Save-A-Lot. The center has undergone renovations and tenant improvements totaling $4 million within the past two years. Allyssa Paragano and Ani Paulson of Marcus & Millichap represented the seller and procured …
San Diego — San Diego-based Jack in the Box has announced plans to open 15 restaurants in Georgia, marking the first entry into the state for the fast-casual brand. New sites have not yet been selected, but plans include a focus on the Macon, Augusta and Savannah markets. A franchisee will own and operate the restaurants. Jack in the Box also recently announced a commitment to 30 new units in Florida.
Merced, Calif. — Matthews Real Estate Investment Services has arranged the sale of 3110 R Street, a retail center located in the San Joaquin Valley city of Merced. An undisclosed buyer purchased the property for $5.8 million. Tenants at the center include Chipotle Mexican Grill and Panera Bread, which occupy end-cap storefronts. Chipotle recently extended its lease for an additional 10 years. Clay Smith of Matthews represented the seller in the transaction.
Massillon, Ohio — Legacy Realty Group Advisors has brokered the $5.2 million sale of Amherst Shopping Center, a 146,880-square-foot retail center located in Massillon. Marc’s and Dollar General anchor the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.
Dallas — Netflix will open an entertainment venue within an anchor space at Galleria Dallas, a 1.9. million-square-foot shopping center in Dallas. Dubbed Netflix House, the establishment will feature immersive experiences, retail and food-and-beverage offerings. Construction is currently underway on two floors of the property to house the venue, which is scheduled to open in fall 2025. According to a statement on the Netflix company website, an additional Netflix House will open in King of Prussia, Pennsylvania, with both venues encompassing more than 100,000 square feet. MetLife Investment Management owns Galleria …
