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IllinoisLeasingMixed-useNews

The VUE Mixed-Use Project in Metro Chicago Opens New Retailers

by Abby Cox

Elk Grove Village, Ill. — Nicholas & Associates and Wingspan Development Group of the Nicholas Family of Cos. have opened the initial commercial phase of The VUE, a 10-acre mixed-use development in Elk Grove Village, about 20 miles northwest of Chicago. The retail tenants include Tensuke Market and Food Court, 7 Mile Cycles, Jarosch Bakery and Vini’s Pizza. Plans for The VUE include a 271-unit apartment community, 16 rental townhomes, a multi-story clubhouse with a pool and other amenities for residents, as well as 52,000 square feet of retail space. …

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FloridaLeasingNews

Tavistock Signs Four Retailers at Lake Nona West Shopping Center in Orlando

by Abby Cox

Orlando, Fla. — Tavistock Development has signed leases with four new tenants to join Lake Nona West, a walkable, 405,000-square-foot shopping center underway in the Lake Nona master-planned community in Orlando. The 54-acre, Target-anchored shopping center is set to debut next month. New retailers joining the development include Drybar, Just Salad, Gloss Nail Co. and Kilwins Ice Cream. Previously announced tenants at Lake Nona West include Homesense, Barnes & Noble, Dick’s Sporting Goods, Golf Galaxy, Total Wine & More, JETSET Pilates, Nordstrom Rack, Sephora and Canonita, a Mexican restaurant.

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CaliforniaInvestment salesMixed-useNews

Jamestown Sells Historic Ghirardelli Square Shopping Center in San Francisco

by Abby Cox

San Francisco — Jamestown LP, a mixed-use developer and operator based in Atlanta, has sold Ghirardelli Square, a historic waterfront shopping center located at 900 N. Point St. in San Francisco’s Fisherman’s Wharf District. The property comprises 12 interconnected brick buildings fronting San Francisco Bay and includes the namesake 19-foot illuminated Ghirardelli sign and that has been part of the city’s skyline since 1915. Miami-based investment firm Embrace Real Estate and its affiliate asset management company 1823 Partners purchased Ghirardelli Square from Jamestown for an undisclosed price. The new ownership has …

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Prairieview Center
Investment salesMinnesotaNews

Cushman & Wakefield Brokers $27.7 Million Sale of Grocery-Anchored Shopping Center in Suburban Minneapolis

by Abby Cox

Eden Prairie, Minn. — Cushman & Wakefield has brokered the $27.7 million sale of Prairieview Center, a 113,601-square-foot shopping center located in Eden Prairie, roughly 12 miles southwest of downtown Minneapolis. Lunds & Byerlys anchors the property, which was fully leased at the time of sale. Additional tenants include Starbucks Coffee, Culver’s and Chase Bank. Prairieview Center was originally built in 1986 and renovated in 2018. Evan Halkias, David Matheis and Zander Fried of Cushman & Wakefield represented the seller, United Properties, in the transaction. The buyer was Phillips Edison & …

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Investment salesNewsTennessee

Matthews Facilitates Sale of 17-Property Dollar General Retail Portfolio in Eight States

by Abby Cox

Nashville, Tenn. — Matthews has facilitated the sale of a 17-property Dollar General retail portfolio. The portfolio spans eight states: Arkansas, Iowa, Kentucky, Louisiana, Michigan, New York, Pennsylvania and Tennessee. The portfolio closed at 98.8 percent of the listing price and features absolute triple-net lease structures with a 10.2-year weighted average lease term.

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CaliforniaGrocery-anchoredInvestment salesNews

Mahoney & Associates Arranges $37.5 Million Sale of Carmel Rancho Shopping Center in California

by Abby Cox

Carmel-By-The-Sea, Calif. — Mahoney & Associates has arranged the $37.5 million sale of Carmel Rancho Shopping Center, a retail center located on the Central Coast of California in Carmel-by-the-Sea. Situated on a 295,335-square-foot land parcel, Carmel Rancho Shopping Center has 77,002 square feet of retail space. Tenants at the center include Lucky Supermarket and BevMo!. Ryan Edwards, Josh Jones and Patrick Stafford of Mahoney & Associates represented the buyer, Montage Health, and the undisclosed seller, in the deal.

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Eastgate Shopping Center
Investment salesNewsOhio

Prudent Growth Acquires Eastgate Shopping Center in Metro Cincinnati for $3.3 Million

by Abby Cox

Batavia, Ohio — Chapel Hill, North Carolina-based Prudent Growth Partners has acquired Eastgate Shopping Center, a 20,520-square-foot shopping center located in Batavia, approximately 25 miles east of downtown Cincinnati, for $3.3 million. Situated along Old State Route 74, the center was 94 percent leased at the time of sale to tenants including State Farm, Farmers Insurance, Merry Maids and Avis/Budget. Tenants at the center operate on long-term, triple-net lease structures.

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CaliforniaDevelopmentGrocery-anchoredNews

Whole Foods Market-Anchored Retail Development Moving Ahead in Inland Empire

by Abby Cox

Redlands, Calif. — Redlands City Council has granted approval for the development of The Marketplace, a planned 71,900-square-foot grocery-anchored retail center located in the Inland Empire city of Redlands. Regency Centers will develop and KTGY will design the center. Anchored by a 36,000-square-foot Whole Foods Market, the project will feature four retail buildings with the capacity to be divided into 18 storefronts. In addition, a fifth pad building is planned to include a drive-thru with its own dedicated parking lot. Construction is expected to begin in late 2026, with completion …

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Investment salesNewsPennsylvania

Roadside Development Acquires Galleria at Mt. Lebanon in Pittsburgh

by Abby Cox

Pittsburgh — Washington, D.C.-based Roadside Development has acquired Galleria at Mt. Lebanon, a 168,000-square-foot shopping center located in the Mt. Lebanon neighborhood of Pittsburgh. The Galleria at Mt. Lebanon was originally constructed as a Kaufmann’s department store and later converted to an indoor mall in 1988. Current tenants at the two-story shopping center include Anthropologie, Pottery Barn, Williams-Sonoma, Orvis, Evereve, AMC Theatres and Club Pilates, along with restaurants such as The Yard Gastropub, Houlihan’s, Mitchell’s Fish Market, Panera Bread and Starbucks. Roadside’s plans for the property are currently in development. In …

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FloridaInvestment salesNews

Marcus & Millichap Brokers $3.8 Million Sale of Retail Strip Center in Southwest Florida

by Abby Cox

Bonita Springs, Fla. — Marcus & Millichap has brokered the $3.8 million sale of a 4,665-square-foot retail strip center located at 27250 Bay Landing Drive in Bonita Springs, a city in southwest Florida. Built in 2000 and renovated in 2014, the freestanding center was fully occupied on long-term, triple-net leases by Starbucks Coffee and Tide Cleaners. Chris Garavaglia, Andrew Muth and Alex Perez of Marcus & Millichap’s St. Louis office represented the seller, a private developer, and procured the buyer, a Florida-based investor, in the transaction. Ryan Nee served as Marcus …

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