Monroeville, Pa. — CBL Properties has sold Monroeville Mall, a 1.2-million-square-foot regional mall located in Monroeville, roughly 20 miles east of Pittsburgh. According to the Pittsburgh Post-Gazette, Walmart purchased the property — which comprises the main mall building, adjacent strip mall, front entrance expansion and land parcels for Best Buy and Firestone — for $34 million in an all-cash transaction. Situated on 186 acres, the mall is anchored by Macy’s, Dick’s Sporting Goods and JCPenney. Other tenants at the property include Barnes & Noble, Cinemark Theatres, Guitar Center and Best Buy. …
Gainesville, Ga. — Atlanta-based Branch Properties has received approval of its rezoning application for Lakeshore Mall in Gainesville. Plans call for the center to be redeveloped into a 49-acre mixed-use project, Lakeshore, that will include 305,444 square feet of retail space, 652 multifamily residential units and 38,200 square feet of outdoor community greenspace. Future phases of the project will include townhomes and a hotel. Construction is scheduled to begin in late 2026, with completion anticipated for 2028. Branch Properties, along with Lee Erickson of Franklin Street, will lead retail leasing …
Thompson’s Station, Tenn. — Simon Property Group has entered into an agreement to purchase a development site in metro Nashville with plans to build a luxury shopping and lifestyle destination known as Nashville Premium Outlets. The 325,000-square-foot project will be situated in the southern suburb of Thompson’s Station. “This project represents a significant investment in our town and has the potential to enhance local amenities, create jobs and strengthen our economy,” says Thompson’s Station Mayor Brian Stover. Simon is collaborating with Nashville-based Adventurous Journeys Capital Partners (AJ Capital), a company …
Katy, Texas — Locally-based developer NewQuest has broken ground on Texas Heritage Marketplace, a $400 million mixed-use project in the western Houston suburb of Katy. The site spans 165 acres and fronts the newly completed Texas Heritage Parkway. Current plans call for 750,000 square feet of retail, restaurant and entertainment space; two apartment communities with approximately 550 total units; and 300,000 square feet of medical office and self-storage space. Additionally, Target will anchor the retail portion of the property with a 149,000-square-foot store. A tentative completion date for the initial …
Morristown, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Morris Marketplace, a newly developed 85,513-square-foot shopping center located in Morristown, roughly 25 miles west of New York City. The center, which is shadow-anchored by Lidl Supermarket and Burlington, was fully leased at the time of sale with more than 35 restaurant and service-oriented tenants, including Wells Fargo and Panda Express. Brad Nathanson and JP Colussi of IPA represented the seller and developer, DeVimy Equities, and procured the Ohio-based buyer, Last Mile …
Neptune City, N.J. — A new Hobby Lobby location has opened at Neptune Plaza in Neptune City. The arts and crafts retail store spans 60,212 square feet and is the junior anchor of the shopping center. Additional tenants at the center are The UPS Store, World Class ShopRite, IHOP, Visionworks and KPOT Korean BBQ. Neptune Plaza will undergo exterior renovations including new curbing, milling and repaving. Midland Park, N.J.-based Azarian Realty is the leasing and management agent for Neptune Plaza, which is 100 percent leased.
Rolesville, N.C. — Crosland Southeast and Core Sound Development has signed 11 new tenants to Wallbrook, an 80-acre mixed-use development located in Rolesville, roughly 17 miles northwest of Raleigh. Publix will anchor the property, which is scheduled to open its initial phase in mid-2025. The developers have pre-leased 21,000 square feet to tenants including restaurants, a dental practice, hair salon, massage parlor and Pilates gym. Additionally, Fifth Third Bank has signed a ground lease at the development outparcel. Approximately 9,000 square feet of space is still available for lease at …
Brecksville, Ohio — Brown Gibbons Lang & Co. (BGL) has secured development financing for the second phase of Valor Acres, a mixed-use project located in Brecksville, approximately fifteen miles south of Cleveland. BGL secured the financing on behalf of the developer and borrower, DiGeronimo Cos. in the transaction. Upon completion, the second phase will comprise 70,000 square feet of retail and entertainment space, 44,000 square feet of office space, 221 apartment units, a 700-space parking garage and an on-site safety station. Fifth Third Bank and First Commonwealth Bank provided the senior …
Miami — Major League Baseball’s Miami Marlins have formed a partnership with The Cordish Companies to develop Miami Live! at loanDepot Park, the home ballpark of the Marlins. The entertainment destination in the city’s Little Havana neighborhood will feature indoor-outdoor dining and entertainment spaces aimed at elevating the fan experience, including year-round space activations. The official opening of Miami Live! is anticipated for early 2026. LoanDepot Park opened in 2012 and hosts events such as the World Baseball Classic, Caribbean Series and Choque de Gigantes in addition to Marlins home …
Redondo Beach, Calif. — Haagen Co. is underway on a renovation project at Redondo Shores Shopping Center, a 131,844-square-foot retail center located in Redondo Beach, roughly 20 miles south of Los Angeles. Haagen owns and manages the property, which is situated on 11.8 acres. Whole Foods Market and Michaels anchor the center. Other tenants at the property, which totals 37 storefronts, include Madison Reed Hair Color Bar, Carbon Health, Einstein Bros. Bagels and Panda Express. MMA Architecture will design the renovation, which will include upgrades to exterior colors, landscaping and …