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Collierville-Crossing_Collierville-Tenn
Investment salesNewsTennessee

JLL Brokers $12 Million Sale of Shopping Center in Metro Memphis

by Hayden Spiess

Collierville, Tenn. — JLL Capital Markets has brokered the $12 million sale of Collierville Crossing, a 94,331-square-foot shopping center located in Collierville, roughly 30 miles outside Memphis. Academy Sports + Outdoors anchors the property, which was built in 2004. Other tenants at the center include La Hacienda, Sakura Japanese Restaurant, America’s Best Contacts and Eyeglasses, Sports Clips and Direct General Insurance. Desco Group and Affinius Capital sold the property to an entity doing business as RCG-Collierville VII LLC. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller in …

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Holey-Moley_Houston
EntertainmentNewsTexas

Funlab Opens 12,000-Square-Foot Holey Moley Mini Golf Club in Houston

by Hayden Spiess

Houston — Australian-based Funlab has opened a new, 12,000-square-foot Holey Moley Mini Golf Club in Houston. In addition to three nine-hole miniature golf courses, the venue features two private karaoke rooms and a full-service bar and restaurant, dubbed The Caddyshack. Funlab’s current portfolio includes two Holey Moley facilities in Denver and Austin. An additional venue is scheduled to open in San Francisco this year. 

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Northway-Mall_Colonie-N.Y
LeasingNew YorkNews

Three New Tenants Sign Leases at Northway Mall in New York

by Hayden Spiess

Colonie, N.Y. — Three new tenants have signed leases at Northway Mall, a 480,000-square-foot retail center located in Colonie. Mattress Firm, Mission BBQ and Club Pilates have opened at the property, occupying 4,745; 4,329; and 1,846 square feet, respectively, in a space formerly occupied by Petco. Target and Lowes anchor Northway Mall, which is owned and managed by Olshan Properties. 

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Rancho Las Palmas
CaliforniaGrocery-anchoredInvestment salesNews

Albanese Cormier Acquires 162,380-Square-Foot Retail Center in Southern California

by Hayden Spiess

Rancho Mirage, Calif. — Albanese Cormier has acquired Rancho Las Palmas, a 162,380-square-foot retail center located in Rancho Mirage. Amazon Fresh, In-N-Out Burger, CVS/pharmacy, Hobby Lobby, Starbucks Coffee and Wells Fargo anchor the property, which was originally built in 1980. The center was extensively renovated in 2016 and 2022. Bryan Ley of JLL Capital Markets represented the undisclosed seller in the transaction. 

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Oakland County, Michigan
FinanceMichiganNews

District Capital Arranges $10 Million Refinancing for Shopping Center in Metro Detroit

by Hayden Spiess

Oakland County, Mich. — District Capital has arranged a $10 million loan for the refinancing of a shopping center located in Oakland County within the Detroit metro area. The property totals 62,000 square feet. Justin Hollis of District Capital secured the loan through a life insurance company on behalf of the borrower.

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Main-Street-Village-Corona-CA
CaliforniaInvestment salesNews

Pacific Petroleum Acquires Retail Center in Corona, California for $7.8 Million

by Hayden Spiess

Corona, Calif. — Pacific Petroleum Inc. has acquired Main Street Village Center, a retail center in Corona, for $7.8 million. The property features 20,000 square feet of retail space. Alan Krueger and Vanessa Haddad of CBRE represented Pacific Petroleum and the seller, LJZ Corona LLC, in the deal.

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325-331-Marine-Ave-Newport-Beach-CA
CaliforniaInvestment salesMixed-useNews

Faris Lee, SSG Realty Corp. Arrange $4.4 Million Sale of Mixed-Use Property in Newport Beach, California

by Hayden Spiess

Newport Beach, Calif. — Faris Lee Investments and SSG Realty Corp. have arranged the $4.4 million sale of a mixed-use property located on Newport Beach’s Balboa Island. Jeff Conover, Shaun Riley, Scott DeYoung and Greg Lukosky of Faris Lee Investments, with Greg Swedelson and Jon-Eric Greene of SSG Realty Corp., represented the undisclosed buyer and seller in the transaction. Situated on two separate parcels, the property features storefront retail with two second-floor residential units. Two street-level retail shops and two residential tenants currently occupy the property. 

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Starbucks_Mentor-Ohio
Investment salesNewsOhio

Cooper Brokers $2.1 Million Sale of Starbucks-Leased Property in Ohio

by Hayden Spiess

Mentor, Ohio — The Cooper Commercial Investment Group has brokered the $2.1 million sale of a single-tenant retail property located in Mentor. Starbucks Coffee occupies the building, which was constructed in 2022, with roughly eight years remaining on its lease. Dan Cooper of Cooper Commercial Investment Group represented the seller, an Ohio-based investment group, in the 1031-exchange transaction. 

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Live-Casino-Hotel-Virginia
DevelopmentMixed-useNewsVirginia

Bruce Smith Enterprise, Cordish Cos. Propose $1.4 Billion Mixed-Use Casino Development in Petersburg, Virginia

by Hayden Spiess

Petersburg, Va. — Bruce Smith Enterprise and The Cordish Cos. have responded to a request for proposal issued by the City of Petersburg with plans to co-develop a $1.4 billion mixed-use project. Plans call for a gaming and entertainment district anchored by a Live!-branded casino and hotel. The project site is located at the intersection of Wagner Road and I-95 in Petersburg, about 24 miles south of Richmond. The partners intend to quickly open an initial Phase I casino within a year to begin creating jobs, vendor opportunities and economic benefits …

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The-Cliff_Las-Vegas
DevelopmentNevadaNews

Partners Capital, CNR Retail Unveil Plans for 100,000-Square-Foot Office-to-Retail Redevelopment in Las Vegas

by Hayden Spiess

Las Vegas — Partners Capital and CNR Retail have announced plans to convert a 100,000-square-foot office complex, located in Las Vegas’ Green Valley Ranch neighborhood, into a food-and-beverage-driven, open-air retail center. Dubbed The Cliff, the $30 million adaptive reuse development will offer 25 retail spaces, ranging from 1,800 square feet to 17,000 square feet; a central bar; a 26,000-square-foot covered outdoor dining lounge with communal meeting spaces; live performance area; fire pits; kiosks; and public art installations.  The joint venture acquired the property in August 2023 for $17.2 million in an off-market …

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