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Kroger property
Investment salesMississippiNews

CrownPoint Partners Facilitates $3.6 Million Sale of Retail Property in Laurel, Mississippi

by Abby Cox

Laurel, Miss. — CrownPoint Partners has facilitated the $3.6 million sale of a retail property located at 2340 Highway 15 North in Laurel. Kroger occupies the 44,046-square-foot building, which includes a Kroger-operated fuel station. Situated across from Pine Tree Village Shopping Center, Kroger has operated at this location since 1982. Julius Swolsky and Shannon Bona of CrownPoint Partners represented the buyer, a subsidiary of Essential Growth Properties, in the transaction. Marcus & Millichap represented the seller, San Francisco-based Pacific Bay Investments, Inc. Trinity Capital Corp. secured financing for the acquisition …

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Downtown Chesterfield
DevelopmentMissouriMixed-useNews

Staenberg Group Begins 4.5 Million-Square-Foot Redevelopment of Chesterfield Mall in Suburban St. Louis

by Abby Cox

Chesterfield, Mo. — The Staenberg Group is underway with the first phase of redevelopment for the former Chesterfield Mall located in the western St. Louis suburb of Chesterfield. The site of the former mall will be transformed into a 4.5 million-square-foot mixed-use project. Demolition of the mall, excluding the Dillard’s and Macy’s buildings, was completed in April 2025. Phase I of the redevelopment, which will be called Downtown Chesterfied, is expected to take up to 18 months. Upon completion of the development, Downtown Chesterfield will feature up to 2,363 residential …

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La Alameda Shopping Center
CaliforniaFinanceNews

PSRS Arranges $40 Million Refinancing of 245,000-Square-Foot Shopping Center in Los Angeles

by Abby Cox

Los Angeles — PSRS has arranged a $40 million loan for the refinance of La Alameda Shopping Center, a 245,000-square-foot shopping center located in the Los Angeles neighborhood of Walnut Park. The 18.3-acre center comprises six building clusters and features Spanish architecture, pedestrian-friendly courtyards, plaza spaces, outdoor seating and a fountain. Tenants at the property include Ross Dress For Less, CVS Pharmacy, Marshalls, Don Chente Bar & Grill, Wingstop, Dollar Tree, Chuck E. Cheese, Panda Express, GameStop, Cold Stone Creamery, Petco and Bath & Body Works. Kostas Kavayiotidis, Mike Davis and …

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Laburnum Park
Investment salesNewsVirginia

Greysteel Facilitates $9 Million Sale of Laburnum Park Shopping Center in Richmond, Virginia

by Abby Cox

Richmond, Va. — Greysteel has facilitated the $9 million sale of Laburnum Park Shopping Center, a 61,060-square-foot shopping center located in Richmond. The property features two in-line retail buildings, a standalone retail pad and a bank pad. Gold’s Gym and DaVita Dialysis shadow anchor the center, which was 92 percent leased at the time of sale. Additional tenants include Dollar Tree, Union Bank & Trust, Cook Out, Subway, a barber shop and a dentist. Ben Wilson of Greysteel represented the seller and secured the buyer, Oklahoma-based The Criterion Fund, in …

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Devine Street Center
Investment salesNewsSouth Carolina

Marcus & Millichap Brokers $7.1 Million Sale of Retail Property in Columbia, South Carolina

by Abby Cox

Columbia, S.C. — Marcus & Millichap has arranged the $7.1 million sale of two vacant retail buildings located at 3818 Devine St. in Columbia. The 38,816-square-foot property was home to a Piggly Wiggly for more than 40 years before the grocer closed in April. Harrison Creason and Andrew Margulies of Marcus & Millichap brokered the transaction between the seller, an out-of-state owner, and the buyer, locally based-Cason Development Group, in the transaction.

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FinanceNew YorkNews

Largo Capital Arranges $17.3 Million Bridge Financing for Upstate New York Shopping Center

by Abby Cox

Irondequoit, N.Y. — Largo Capital has arranged a $17.3 million bridge loan for Culver Ridge Plaza, a 291,000-square-foot shopping center located in Irondequoit, a suburb of Rochester. The center is home to tenants including Marshalls, Burlington and Five Below. Kevin Ross and Michelle Colosimo of Largo Capital arranged the loan through Bank of America. The borrower, an undisclosed global investment firm, will use the proceeds to refinance existing debt and fund capital improvements.

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FloridaLeasingMixed-useNews

Four New Tenants to Join Nora District in West Palm Beach, Florida

by Abby Cox

West Palm Beach, Fla. — Four new tenants have signed leases to join Nora District, a $1 billion mixed-use project underway in downtown West Palm Beach. The new tenants — Luce, Pompanos Boutique, SWEAT440 and Warby Parker — will debut at Nora District this fall. Developed by West Palm Beach-based NDT Development, Place Projects and Greenwich, Connecticut-based Wheelock Street Capital, Nora District’s first phase — which will be delivered this summer — totals more than 100,000 square feet of retail and 55,000 square feet of creative office space. Additional confirmed tenants at the property …

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Ardalan Plaza
Architecture and DesignDevelopmentIndianaNews

Skender Breaks Ground on $19 Million Ardalan Plaza Building in Metro Indianapolis

by Abby Cox

Carmel, Ind. — Skender Construction has broken ground on Ardalan Plaza, a $19 million development that will serve as a gateway to the city of Carmel’s Arts & Design District. The property will comprise 8,000 square feet of retail and gallery space on the first floor, five luxury condominiums on the second floor and a private residence with a rooftop terrace spanning the third floor. Designed in the manner of an Italian villa, the project is a collaboration between the Carmel Redevelopment Commission and the Ardalan family. The project team …

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Gold Hill Commerce Park
Investment salesNewsNorth Carolina

CenterSquare Acquires 11,835-Square-Foot Shopping Center in Charlotte, North Carolina

by Abby Cox

Charlotte, N.C. — CenterSquare Investment Management has acquired Gold Hill Commerce Park, an 11,835-square-foot service retail shopping center located in Charlotte. The property was fully leased to tenants including Marco’s Pizza, UrgentVet, Select Physical Therapy and Allen Tate Realty at the time of sale. This transaction marks CenterSquare’s 20th acquisition in the Southeast.

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Miami Worldcenter
DevelopmentEntertainmentFloridaMixed-useNewsRestaurantsRetailers

CIM Group, Partners Open $6 Billion Miami Worldcenter Development

by Abby Cox

Miami — Los Angeles-based investment firm CIM Group and its development partners have officially opened Miami Worldcenter, a $6 billion mixed-use development in downtown Miami. CIM Group partnered on the project with Miami Worldcenter Associates, a development entity founded by Art Falcone and Nitin Motwani. The development spans 27 acres across 10 city blocks in the city’s Park West neighborhood and has generated nearly 9,000 jobs over the course of its construction and operation. The site formerly housed blighted properties and surface parking lots. The Miami Worldcenter master plan includes approximately …

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