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DevelopmentMixed-useNewsTennessee

Urban Story Ventures to Redevelop 160,000-Square-Foot Retail Center in Metro Chattanooga

by Hayden Spiess

East Ridge, Tenn. — Urban Story Ventures will redevelop a 160,000-square-foot retail center located in East Ridge, roughly 10 miles outside Chattanooga. The developer purchased the property — which features a 38,000-square-foot space formerly occupied by Food City, five retail outlet buildings and parking — last year. A roster of food-and-beverage, professional services and apparel retailers currently occupy a portion of the center. Plans call for a combination of renovations to existing suites, as well as new construction. Urban Story Ventures will reposition the property as a mixed-use development and plans to …

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Investment salesNewsTexas

NewQuest Arranges Sale of 139,538-Square-Foot Former Sam’s Club Store in Houston

by Hayden Spiess

Houston —NewQuest Properties has arranged the sale of a 139,538-square-foot retail building in West Houston. The vacant building, which is part of a larger development anchored by Target, Burlington and Marshalls, sits on 12 acres and was formerly owned and occupied by Sam’s Club. John Nguyen of NewQuest Properties represented the buyer, an entity doing business as SSS Marketplace on Eldridge LLC, in the transaction. James Namken and Kyle Knight of Weitzman represented the seller.

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Investment salesNewsTexas

Three Pillars Capital Acquires 16,000-Square-Foot Shopping Center in Frisco, Texas

by Hayden Spiess

Frisco, Texas — Three Pillars Capital has acquired Shops at The Gate, a 16,000-square-foot shopping center located north of Dallas in Frisco. Built in 2021, the property comprises two buildings situated on two acres. The center, which was fully occupied at the time of sale, is an outparcel to Domain at The Gate, a luxury apartment development. Mike Kennedy and Darrell Betts of Avison Young represented the seller, an undisclosed foreign investment group, in the transaction.

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DevelopmentLeasingMixed-useNewsRestaurantsTexas

Eight Food-and-Beverage Concepts Sign Leases at 324-Acre Realm at Castle Hills Development in Metro Dallas-Fort Worth 

by Hayden Spiess

Lewisville, Texas — Eight new food-and-beverage concepts have signed leases at The Realm at Castle Hills, a 324-acre mixed-use development currently underway in Lewisville in the Dallas-Fort Worth metro. Upon completion, the project will feature 1.5 million square feet of retail, office and restaurant space, in addition to multifamily units, a boutique hotel and an outdoor entertainment district. The new tenants include a dual Marble Slab Creamery/Great American Cookies shop, which will occupy 1,600 square feet, as well as Voodoo Brewing Co., which will occupy 4,346 square feet. Cocinero Mexican Restaurant, …

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GeorgiaLeasingNewsRestaurants

Kyuramen Opens 4,200-Square-Foot Restaurant in Metro Atlanta

by Hayden Spiess

Alpharetta, Ga. — Japanese ramen chain Kyuramen has opened a new restaurant in Alpharetta, a suburb of Atlanta. Totaling 4,200 square feet, the space can accommodate up to 110 guests. This marks the third location in the state for the brand, which currently operates 26 stores throughout the U.S., with plans to open 100 more restaurants by the end of 2024. 

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CaliforniaFinanceNews

Marcus & Millichap Secures $96 Million Refinancing for Three Shopping Centers in Southern California

by Hayden Spiess

Bakersfield, North Hollywood and Ventura, Calif. — Marcus & Millichap Capital Corp. (MMCC) has secured a $96 million loan for the refinancing of three shopping centers located in Southern California. Tenants at the properties — which are located in Bakersfield, North Hollywood and Ventura — include 24 Hour Fitness, Dollar Tree, Starbucks Coffee, Wells Fargo and Tractor Supply. Zack Metzner, Daizy Gomez and Linsey Farrahi of MMCC secured the five-year financing on behalf of the borrower, a private investor. The interest-only loan carries a fixed interest rate of 5.8 percent. 

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DevelopmentFinanceNewsNorth Carolina

BWE Arranges $24.3 Million Construction Loan for Retail Development in Southern Pines, North Carolina

by Hayden Spiess

Southern Pines, N.C. — BWE has arranged a $24.3 million loan for the construction of Phase II of Morganton Park South, a retail development underway in Southern Pines. Situated near the Pinehurst Golf Resort, Phase II is fully preleased and will house the region’s first BJ’s Wholesale Club. Phase I of Morganton Park South is occupied by tenants including Target, Dick’s Sporting Goods/Golf Galaxy and HomeGoods. Daniel Rosenberg and Logan Petersmeyer of BWE originated the interest-only loan on behalf of the borrower, Midland Atlantic Properties. The loan was underwritten with a …

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Investment salesNewsVirginia

Northpond Acquires 52,948-Square-Foot Retail Center in Richmond, Virginia

by Hayden Spiess

Richmond, Va. — Northpond Partners has acquired Parkside Marketplace, a 52,948-square-foot retail center in Richmond. The $17.4 million purchase marks the first acquisition for Northpond’s new $200 million investment vehicle, which is focused on retail centers in the Southeast and select Sunbelt markets. Tenants at the center, which was 98 percent leased at the time of sale, include West Marine, Five Guys, AT&T and M&T Bank. Catherine Spangler and Richard Thalhimer of Cushman & Wakefield | Thalhimer represented the seller, Stavins & Axelrod, in the transaction. 

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High-Street_Atlanta
DevelopmentGeorgiaLeasingMixed-useNews

Five Tenants Sign Leases at $2 Billion High Street Mixed-Use District in Atlanta

by Hayden Spiess

Atlanta — Five new tenants have signed leases at High Street, a $2 billion mixed-use district currently underway in Atlanta. The retailers will open within the first phase of the development, which will comprise 150,000 square feet of retail space. Eatertainment concept Jaguar Bolera will occupy 21,500 square feet, and restaurants Nando’s PERi-PERi and Velvet Taco will occupy 3,300 and 2,300 square feet, respectively. Allen Edmonds will also open at the property, with a 1,800-square-foot store, and Skin Spirit will open a 2,300-square-foot medical spa. GID Development Group is the developer …

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CaliforniaInvestment salesNews

Hanley Brokers $3.4 Million Sale of Starbucks-Occupied Property in Visalia, California

by Hayden Spiess

Visalia, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.4 million sale of a 2,000-square-foot single-tenant property located in Visalia. Starbucks Coffee occupies the building, which was constructed on 0.6 acres in 2023 and features a double drive-thru. Sean Cox, Alexander Moore, Bill Asher and Kevin Fryman of Hanley represented the developer and seller, Stock Five Development, in the transaction. David Mouallem of D.M. Realty Inc. represented the buyer, a Los Angeles-based private investor. 

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