Development

Chipotle Mexican Grill and Shell gas station retail properties
DevelopmentInvestment salesKansasNews

Block & Co. Facilitates Sale of Two Retail Properties in Metro Kansas for Redevelopment Project

by Abby Cox

Merriam, Kan. — Block & Co. Inc. Realtors has facilitated the sale of two retail properties located in Merriam, approximately eight miles south of downtown Kansas City, Missouri, as part of a larger redevelopment project. Situated on the northeast quadrant of I-35 and Shawnee Mission Parkway, Chipotle Mexican Grill and a Shell gas station occupy the buildings. The buyer was an affiliate of locally based Drake Development. David M. Block of Block & Company represented the seller in both transactions. The proposed redevelopment area is located near Ikea, Hobby Lobby, Baron BMW, …

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ArizonaDevelopmentInvestment salesNews

JLL Arranges $42.5 Million Equity Placement for Papago Marketplace in Metro Phoenix

by Abby Cox

Scottsdale, Ariz. — JLL Capital Markets has arranged a $42.5 million equity placement for Papago Marketplace, a 55,500-square-foot mixed-use development located in the Phoenix suburb of Scottsdale. Patrick Dempsey and Quin Madden of JLL represented the developer, Pivot Development Co., in securing the equity placement on behalf of an undisclosed institutional advisor. A 23,343-square-foot Sprouts Farmers Market will anchor the project upon completion, which is scheduled for August 2026. Construction is expected to begin this month. Over the past five years, the development of Papago Marketplace has included a 276-unit luxury …

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TA Truck Stop
AlabamaDevelopmentNews

Forman Capital Provides $20 Million Construction Loan for Retail Travel Center Near Mobile, Alabama

by Abby Cox

Robertsdale, Ala. — Forman Capital has provided a $20 million construction bridge loan to LV Petroleum, the largest owner and operator of TA Travel Center franchises in the United States, for the redevelopment and completion of a retail travel plaza in Robertsdale. Formerly the Oasis Travel Center, the property has already been converted into a TA Travel Center with all facilities operating, except for diesel fuel sales. Situated about 27 miles east of Mobile, the 51-acre site features 26,797 square feet of retail space, including Subway and Sbarro restaurants, eight …

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The Ranch
ArizonaDevelopmentLeasingMixed-useNewsRestaurantsRetailers

Partnership Receives Final Approval for $1 Billion Mixed-Use Development in Gilbert, Arizona

by Abby Cox

Gilbert, Ariz. — A partnership between Las Vegas-based IndiCap, Salt Lake City-based Colmena Group and locally based Langley Properties has received final entitlement approval from the Town of Gilbert’s Planning Commission to begin construction for The Ranch, a proposed $1 billion mixed-use development in Gilbert. Situated near the Phoenix-Mesa Gateway Airport and Arizona State University’s Polytechnic Campus, The Ranch will span more than 295 acres and is anticipated to become Gilbert’s largest mixed-use development to date, according to the development team. The project is also expected to create roughly 6,000 jobs …

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stephanie mccullough florida retail SRS quote from article
Content PartnersDevelopmentFeaturesFinanceIndustry ContentInvestment salesNet leaseRetailers

Population, Policy Tailwinds Fuel Retail Activity in Florida

by Sarah Daniels

Florida’s nation-leading population growth and its pro-business reputation continue to underpin retail investment and expansion activity. Vacancy rates in the state’s major metros range from 3.1 percent in Miami to 4.6 percent in Jacksonville, all well below their historical averages, according to CoStar. Investment sales in the markets during the first half of 2025 totaled around $2.5 billion, and each market except for Orlando saw an increase in year-over-year sales, CoStar reports. “Whether it’s buyers of retail properties or retailers looking to open up new locations, they’re all descending on …

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Wayfair's Denver store
ColoradoCompany newsDevelopmentNews

Wayfair to Open 140,000-Square-Foot Store in Denver 

by Abby Cox

Denver — Online retailer Wayfair will open a 140,000-square-foot store in Denver. Situated within The Shops at Northfield, this will mark Wayfair’s third store announcement this year, and its fourth large-format location overall. The store is scheduled to open in late 2026. The Denver location will span two floors and feature 19 departments. Erik Christopher, Tami Lord and Tony Pierangeli of SRS Real Estate Partners, as well as Matt Curtin of Newmark, led lease negotiations in the transaction. Wayfair’s first physical retail store opened in May 2024 in Wilmette, Illinois, while its second location in Atlanta …

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Poplar Plaza
DevelopmentFinanceGrocery-anchoredNewsTennessee

JLL Secures $25.1 Million in Refinancing for 350,000-Square-Foot Power Center in Memphis

by Abby Cox

Memphis, Tenn. — JLL Capital Markets has secured $25.1 million in refinancing for Poplar Plaza, a 350,000-square-foot regional power center located near the University of Memphis. Brett Paulsrud, Gregg Shapiro, Amy Lousararian and Michael Schwarze of JLL’s Debt Advisory team arranged the seven-year, fixed-rate loan through Renasant Bank on behalf of the borrower, Finard Properties. The financing will support the interior and exterior renovation of The Angle, a 14,015-square-foot, multi-bay building on the corner of Poplar Avenue and South Highland Street. Kroger, which has operated at Poplar Plaza for more …

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Erie Highlands
ColoradoCompany newsDevelopmentLeasingNews

Evergreen Devco Breaks Ground on Retail Development in Metro Denver

by Abby Cox

Erie, Colo. — Evergreen Devco Inc. has broken ground on Erie Highlands, a 12.7-acre neighborhood retail development located in Erie, approximately 27 miles north of Denver. Situated at the southwest corner of Country Road 5 and Erie Parkway, the development will provide dining options and retail services to serve the Town of Erie’s expanding residential base and the adjacent Erie High School community. Evergreen Devco originally acquired the site in January 2025. Golden Triangle Construction will execute the onsite and offsite horizontal infrastructure development, while Legend Partners will handle leasing …

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Westside Bottling
DevelopmentInvestment salesNewsNorth Carolina

Ardent Closes on Land Acquisition for Mixed-Use Project in Durham, Signs Leases with Sprouts and Shake Shack

by Abby Cox

Durham, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes upon completion. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an …

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Nordstrom Rack
Company newsDevelopmentNewsWashington

Nordstrom Rack to Open Five New Locations in 2026 

by Abby Cox

Seattle — Seattle-based fashion retailer Nordstrom Inc. plans to open five new Nordstrom Rack outlet stores next year. The stores will be located in Elmwood, Louisiana; Williamsburg, Virginia; Canton, Ohio; Deptford, New Jersey; and Mansfield, Massachusetts. Nordstrom Rack is the off-price retail division of Nordstrom Inc. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty products, home decor and shoes from many of the top brands sold at traditional Nordstrom stores. The Elmwood location will open in spring 2026, while the remaining openings are scheduled to debut …

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