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Development

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CaliforniaDevelopmentFinanceInvestment salesNews

Calmwater Capital Provides $12.3 Million Acquisition Financing for Retail Center in Metro Los Angeles

by Hayden Spiess

Rancho Palos Verdes, Calif. — Calmwater Capital has provided a $12.3 million loan for the acquisition and renovation of Western Plaza, a retail center located in Rancho Palos Verdes, roughly 30 miles outside Los Angeles. Tenants at the property include The Habit, California Fish Grill, Urbane Café and Mattress Firm. The buyer, West Hive, plans to demolish one of the three existing buildings at the center and construct a 3,000-square-foot outdoor patio to serve the food-and-beverage concepts at the property. Other planned renovations include improvements to storefronts and facades, new signage …

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Wegmans
DevelopmentGrocery-anchoredLeasingMixed-useNewsNorth Carolina

Wegmans to Open 110,000-Square-Foot Grocery Store at Ballantyne Campus in Charlotte, North Carolina

by Hayden Spiess

Charlotte, N.C. — Wegmans Food Markets Inc., a Rochester, New York-based grocer, plans to open a 110,000-square-foot store in Charlotte. Located along North Community House Road, the grocery store will be situated within Ballantyne, Northwood Investors’ 2,000-acre master-planned development on the south side of Charlotte adjacent to the South Carolina border. Wegmans aims to open the new store by the third quarter of 2026. The store will feature all traditional Wegmans departments, including produce, seafood, meat, bakery, deli, cheese and wine and beer. Additional offerings will include Meals2Go and catering, online …

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DevelopmentFinanceNevadaNews

Gantry Secures $12.7 Million Bridge Financing for Shopping Center in Reno, Nevada

by Hayden Spiess

Reno, Nev. — Gantry has secured a $12.7 million bridge loan to finance construction and leasing at North Reno Plaza, a shopping center located in Reno. The property is currently undergoing renovations including the addition of a new junior-anchor space and preparations for the opening of tenants Starbucks Coffee and El Super. Tony Kaufmann, Charlie Kokernak and Andrew Ferguson of Gantry arranged the financing on behalf of the undisclosed borrower. 

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DevelopmentGrocery-anchoredMarylandMixed-useNews

NAI Michael Cos. to Develop 600,000-Square-Foot Mixed-Use Project in Bowie, Maryland

by Hayden Spiess

Bowie, Md. — NAI Michael Cos. will develop South Lake Marketplace, a 600,000-square-foot mixed-use project within the $1.3 billion South Lake development underway in Bowie. Karington LLC, an affiliate of NAI Michael Cos., owns South Lake, which also features residential units being developed by Chesapeake Realty Partners. A grocer will anchor the Marketplace property, which will also feature other retail, restaurant, sports entertainment and hospitality concepts. The development will be situated adjacent to Liberty Sports Park, which features 10 professional sports fields and attracts 344,000 tournament attendees annually, according to NAI …

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DevelopmentFloridaGrocery-anchoredLeasingMixed-useNews

Publix Opens 48,000-Square-Foot Store in Sarasota, Florida

by Hayden Spiess

Sarasota, Fla. — Publix Super Markets has opened a 48,000-square-foot grocery store at Fruitville Farms, a mixed-use development currently underway in Sarasota. Benderson Development is the master developer of the public-private partnership, which will feature 150,000 square feet of retail and restaurants, in addition to 600 apartments and a new 120,000-square-foot Sarasota County Administration Center. Publix is the first tenant to open at the shopping center within Fruitville Farms.

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ColoradoDevelopmentMixed-useNews

TM Crowley, NLGCM Plan 23-Acre Mixed-Use Project in Colorado

by Hayden Spiess

Thornton, Colo. —TM Crowley & Associates has partnered with NLG Capital Management (NLGCM), a division of The Net Lease Group, to develop The Highlands at Thornton, a 23-acre mixed-use property in Thornton. Upon completion, the project will feature more than 101,925 square feet of retail, commercial and medical office space. CVS Caremark will anchor the development. Lisa Vela and Jay Landt of Colliers will manage leasing at the property.

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Target
DevelopmentLeasingNewsUtah

Target to Open 135,000-Square-Foot Store at Provo Towne Centre in Utah

by Hayden Spiess

Provo, Utah — Target has signed a deal to occupy 135,000 square feet of retail space at Provo Towne Centre in Provo. Brixton Capital is currently remodeling the shopping center. The Target will feature a CVS/pharmacy, Starbucks Coffee, Ulta Beauty, Target Optical and an adult beverage department. Roche Construction Mountain West is the general contractor for the Target space, and Big D Construction Mountain West is the general contractor for Provo Towne Centre.

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The-Center_Atlanta
DevelopmentGeorgiaMixed-useNews

CP Group Rebrands 1.2 Million-Square-Foot CNN Center in Downtown Atlanta to The Center

by Katie Sloan

Atlanta — CP Group has rebranded CNN Center, an iconic 1.2 million-square-foot office and retail building in downtown Atlanta, to The Center. The property has served as the headquarters for CNN for over 40 years and also features a large food court on the ground level that connects to State Farm Arena, home arena of the NBA’s Atlanta Hawks. The site also includes the Omni Atlanta Hotel at Centennial Park. CP Group plans to overhaul the former CNN Center to become a hub of world-class retail, dining, content creation and …

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Durham-Topgolf
DevelopmentNewsNorth Carolina

Topgolf to Open New Venue in Durham, North Carolina

by Katie Sloan

Durham, N.C. — Topgolf plans to open a new venue in south Durham on Friday, April 12. The new Topgolf will represent the third Topgolf in North Carolina, with the other two venues in the Charlotte area. In December, the company also announced a new Topgolf coming to nearby Greensboro, North Carolina. The Durham venue will be located off the Page Road exit on I-40 at 4901 Topgolf Way, a short drive from Research Triangle Park and about 12 miles from Duke University. The new Topgolf will feature 102 climate-controlled hitting …

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Zombieland-Bumper-Cars
DevelopmentEntertainmentIllinoisNews

Graycor Completes Construction of 45,000-Square-Foot Wonderverse Entertainment Space in Suburban Chicago

by Katie Sloan

Oakbrook, Ill. — Graycor Construction Co. has completed Wonderverse, a 45,000-square-foot entertainment space at Oakbrook Center in suburban Chicago. The project features a hybrid of physical and multi-media experiences, interactive installations, attractions and experiences, allowing visitors to step into their favorite Sony Pictures stories. Sony is the project’s owner. The space includes escape rooms, virtual reality adventures, bumper cars, racing simulators, an arcade and speakeasy. The project team included Scenario as the owner’s representative and EXP as the architect of record.

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