Development

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DevelopmentGrocery-anchoredInvestment salesMixed-useNewsVirginia

SLN Brokers $16 Million Sale of Development Parcel in Midlothian, Virginia

by Abby Cox

Midlothian, Va. — S.L. Nusbaum Realty Co. (SLN) has brokered the $16 million sale of a 13-acre development parcel located in Midlothian, roughly 14 miles outside Richmond. Larry Agnew and Andrew Thacker of SLN represented the buyer, SJC Ventures, in the transaction. SJC Ventures plans to develop Midlothian Depot, a mixed-use project, at the site. Upon completion, the development will feature a specialty grocer, retail and restaurant space, residential units, multi-modal pathways, green spaces and a dog park. Site work will begin in fall 2025, with vertical construction scheduled to …

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DevelopmentFinanceFloridaMixed-useNews

Terra Receives $291 Million Financing Package for Centro City Mixed-Use Development in Miami

by Hayden Spiess

Miami — Development firm Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use development located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story multifamily buildings that house 470 market-rate apartment units. JVP Management issued a $187 million loan for the development’s multifamily component, with Hudson Bay Capital issuing a $104 million loan for the retail portion. The funds will be used to pay off …

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DevelopmentGrocery-anchoredInvestment salesNewsWashington

SimonCRE Acquires 89,002-Square-Foot Retail Center in Washington, Plans Redevelopment 

by Hayden Spiess

Spanaway, Wash. — SimonCRE has acquired an 89,002-square-foot retail center located in Spanaway, with plans to redevelop the property. Plans for the center include the addition of a grocery anchor, as well as other new tenants. According to SimonCRE, redevelopment efforts at the property will be focused on updating existing structures. 

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DevelopmentMixed-useNewsTexas

Presidium to Break Ground on Next Phase of 314-Acre Mixed-Use Project in Austin, Texas

by Hayden Spiess

Austin, Texas — Presidium will break ground on the next phase of The Row, a 314-acre mixed-use project in Austin. Featuring a 6,250-square-foot freestanding restaurant site and 22,000 square feet of additional retail space, this phase will be developed in partnership with PentaGrowth Capital and a subsidiary of Biolink Capital. The project team will include architect Chioco Design, landscape architect Blacksmith Collaborative and civil engineer KFM Engineering & Design, as well as LandDesign, Leap!, Bay MEP, HWA Parking and O’Brien Architects. Asterisk Design will oversee renaming and rebranding for the development, …

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DevelopmentFloridaLeasingMixed-useNews

Three New Tenants Sign Leases at Nora District in West Palm Beach, Florida

by Hayden Spiess

West Palm Beach, Fla. — Three new tenants have signed leases at The Nora District, a mixed-use project currently underway in West Palm Beach. IGK Salon, Indaco and ZenHippo will occupy 2,347; 2,945; and 1,369 square feet at the property, respectively. The first phase of Nora District — which is being developed by a partnership between NDT Development, Place Projects and Wheelock Street Capital — is scheduled for completion in early 2025. Upon completion, Phase 1 will feature 150,000 square feet of retail, office and hospitality space. Other retail tenants at …

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DevelopmentFloridaNews

Westlake Palms to Develop 10,400-Square-Foot Retail Center in Southeast Florida 

by Hayden Spiess

Westlake, Fla. — An entity doing business as Westlake Palms, led by Don Hearing, has announced plans to develop a 10,400-square-foot retail center in Westlake in southeast Florida. Upon completion, the property, dubbed Westlake Palms, will comprise a multi-tenant building with seven tenant suites ranging from 1,305 square feet to 1,648 square feet in size. Situated within the Westlake master-planned community, the development will also feature 48 parking spaces, two electric vehicle charging spaces and bike storage. The project is fully pre-leased to tenants including an optometrist, dentist, orthodontist and café. …

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CaliforniaDevelopmentMixed-useNews

ValueRock Realty Opens 21-Acre Mixed-Use Project in Aliso Viejo, California

by Hayden Spiess

Aliso Viejo, Calif. — ValueRock Realty has completed the first phase of The Commons — a 21-acre mixed-use development in Aliso Viejo — with the grand opening held on Dec. 14. The project is a redevelopment of a 200,000-square-foot vacant former Lowe’s property.  In addition to 200,000 square feet of retail space, The Commons will include a proposed 343-unit residential community. Retail tenants at the project include Tesla, 99 Ranch Market, Daiso and Philz Coffee, all of which are scheduled to open by the end of the year. Additional tenants, including Bowlero …

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DevelopmentMichiganNews

Poag Development Group to Complete $1.3 Million Renovation of RiverTown Crossings in Metro Grand Rapids

by Hayden Spiess

Grandville, Mich. — Poag Development Group has announced plans to complete a $1.3 million renovation at RiverTown Crossings, a regional mall in the Grand Rapids suburb of Grandville. Improvements at the property will new landscaping, updates to the parking lot and repairs to the merry-go-round. Macy’s, Kohl’s, JCPenney, Celebration Cinemas and Dick’s Sporting Goods anchor the 1.3 million-square-foot mall. Poag will also work with JLL, which manages leasing at the RiverTown Crossings, to “maximize the potential of the property.”

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DevelopmentNewsTexas

Weber & Co. to Develop 225,000-Square-Foot Shopping Center in Little Elm, Texas

by Hayden Spiess

Little Elm, Texas —Weber & Co. has announced plans for the development of a 225,000-square-foot shopping center in Little Elm, on the northern outskirts of Dallas. Target will anchor the center, which will be dubbed Bates Town Crossing in honor of the family that originally owned the site. Davidson Bogel Real Estate brokered the sale of the land on behalf of the Bates family and has been retained as the center’s leasing agent. A construction timeline was not announced, but Target plans to open by summer 2026.

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CaliforniaDevelopmentNews

ALMQUIST Opens $70 Million River Street Marketplace in San Juan Capistrano, California

by Hayden Spiess

San Juan Capistrano, Calif. —ALMQUIST has opened River Street Marketplace, a new, $70 million retail development located in San Juan Capistrano, roughly 55 miles southeast of Los Angeles. Almost all of the property’s 30 tenants have opened, with the additional openings scheduled for the coming weeks.  Retailers and restaurants at the center — which totals 60,000 square feet — include Free People, Shop Common Thread, Tecovas, Fermentation Farm, Finca, Wildfire Mercantile, La Vaquera, Seager, Pick Me Flowers, May Martin, Mendocino Farms, Toes on the Nose, Salt Optics, CAPO Leisure House, Studio …

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