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390 Westport Avenue
ConnecticutInvestment salesNews

Washington Trust Provides $12.4 Million in Financing for 45,658-Square-Foot Retail Property in Norwalk, Connecticut

by Abby Cox

Norwalk, Conn. — Washington Trust has provided $12.4 million in financing for a 45,658-square-foot retail property located in the southern coastal Connecticut city of Norwalk. Marshalls anchors the center, which features other tenants such as T-Mobile and Subway, according to Showcase.com. M.F. DiScala & Co., an entity doing business as 390 Westport Avenue LLC, was the borrower. M.F. DiScala & Co. has owned the property for more than 40 years and manages a portfolio exceeding 11 million square feet across 11 states and 27 cities.

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cass-commons
IndianaInvestment salesNews

Timber Development Corp. Buys Cass Commons Shopping Center in Northern Indiana for $2 Million

by Abby Cox

Logansport, Ind. — Timber Development Corp. has acquired Cass Commons Shopping Center, a 20,000-square-foot retail center located in Logansport, approximately 40 miles northeast of Lafayette, for $2 million. Shadow anchored by Walmart Supercenter, the property is home to a mix of tenants including Maurice’s, Great Clips and Buffalo Wild Wings. Dan Waszak in the Chicago office of Quantum Real Estate Advisors brokered the transaction.

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Ninety-Ninth-Ave
ArizonaGrocery-anchoredInvestment salesNews

Phoenix Commercial Advisors Brokers $30.7 Million Sale of Sprouts Farmers Market-Anchored Retail Center

by Abby Cox

Phoenix — Phoenix Commercial Advisors has arranged the sale of Ninety Ninth Ave, a 47,201-square-foot, grocery-anchored retail center in Phoenix. A private buyer acquired the property from the developer for $30.7 million in an all-cash transaction. Ninety Nine Ave was fully leased at the time of sale to a mix of tenants including Sprouts Farmers Market, CAVA, Hand & Stone and Mountain Mike’s Pizza. The property was newly constructed in 2024 on 5.3 acres, according to LoopNet. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the …

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Green-Ridge-Square
Investment salesMichiganNews

Mid-America Arranges Sale of 225,307-Square-Foot Shopping Center in Metro Grand Rapids

by Abby Cox

Walker, Mich. — Mid-America Real Estate Corp. has arranged the sale of Green Ridge Square, a 225,307-square-foot shopping center in Walker, a northwest suburb of Grand Rapids. Shadow anchored by Target, the property is home to Best Buy, Burlington, Michaels, Urban Air, Five Below, Panera and Shoe Dept. Ben Wineman and Daniel Stern of Mid-America represented the seller, Birmingham, Michigan-based Bacall Cos. Seattle-based Bridge33 Capital was the buyer.

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GTZ-Properties
FinanceIllinoisNews

Associated Bank Provides $11.7 Million Construction Loan for Retail Center in Metro Chicago

by Abby Cox

Bannockburn, Ill. — Associated Bank has provided an $11.7 million loan to GTZ Properties for the development of a four-building, multi-tenant retail center on a vacant parcel in Bannockburn, approximately 30 miles north of Chicago. The 23,864-square-foot project is situated on a 5.3-acre corner lot adjacent to a Mariano’s grocery store and across the street from a Heinen’s grocery store. The development is 93 percent preleased with one space remaining. Signed leases include Wells Fargo Bank, Chipotle, Heart Certified Auto Care, Just Salad and a nail salon. The Gardner School …

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4700-Bergenline-Ave-Union-City-NJ
Investment salesNew JerseyNews

Marcus & Millichap Brokers $7.8 Million Sale of Retail Property in Union City, New Jersey

by Abby Cox

Union City, N.J. — Marcus & Millichap has brokered the $7.8 million sale of a 22,000-square-foot retail strip center located at 4700 Bergenline Ave. in Union City. The property is occupied by three tenants, including CVS Pharmacy, a laundromat and a physical therapy office. Alan Cafiero, Brent Hyldahl and Devin Perez of Marcus & Millichap represented the seller in the transaction. Dean Matuszewicz, also of Marcus & Millichap, procured the buyer.

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Convery Plaza
Grocery-anchoredInvestment salesNew JerseyNews

Sterling Acquires 94,430-Square-Foot Grocery-Anchored Retail Center in Northern New Jersey

by Abby Cox

Perth Amboy, N.J. — Sterling Organization has acquired Convery Plaza, a 94,430-square-foot neighborhood shopping center located in the Northern New Jersey city of Perth Amboy, approximately 20 miles south of Newark. A ShopRite grocery store anchors the center, which features a mix of additional tenants such as H&R Block, Dunkin’, Taco Bell and Santander Bank.

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Company newsNewsOhio

Reports: Wendy’s to Close Hundreds of Stores in 2026

by Abby Cox

Dublin, Ohio — Dublin, Ohio-based fast food giant Wendy’s is planning to close hundreds of its U.S. stores next year as part of a broader effort to revive its home market. According to Wendy’s interim CEO Ken Cook during the company’s quarterly earnings call, Wendy’s is expected to close a “mid-single-digit percentage” of its 6,011 U.S. restaurants, which could approximate to about 300 stores. In its latest fiscal quarter, Wendy’s global sales were down 2.6 percent and sales at U.S. locations fell 4.7 percent. As reported by several media publications, such …

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Arcadia Lakes Shopping Center
Investment salesNewsSouth Carolina

Eastern Union Arranges $2.9 Million in Financing for Arcadia Lakes Shopping Center in Columbia, South Carolina

by Abby Cox

Columbia, S.C. — New York-based Eastern Union has secured $2.9 million in financing for the acquisition of Arcadia Lakes Shopping Center, a 33,684-square-foot shopping center located in Columbia. Marc Tropp of Eastern Union arranged the five-year mortgage on behalf of the buyer, CityWide Properties. The loan features a 75 percent loan-to-cost ratio and a 6.65 percent interest rate. Proceeds of the loan were used for the purchase of the shopping center, as well as for a line of credit for tenant improvements and leasing commissions. CityWide Properties is planning to upgrade …

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Shoe Carnival
Company newsNewsSouth Carolina

Shoe Carnival to Change Name to Shoe Station Group

by Abby Cox

Fort Mill, S.C. — Shoe Carnival Inc.’s board of directors has unanimously voted to change the company’s corporate name to Shoe Station Group, subject to approval by shareholders at the company’s annual meeting in June 2026. The company expects more than 90 percent of its stores to operate as Shoe Station by the end of fiscal 2028, with the remaining locations being evaluated for re-naming, outlet repositioning or closure. The company has completed 100 store re-banners during fiscal 2025 and is on track for 51 percent of its portfolio to operate …

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