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Cahaba Crossing
AlabamaFinanceGrocery-anchoredNews

CBRE Secures $15 Million Refinancing for Shopping Center in Birmingham, Alabama

by Abby Cox

Irondale, Ala. — CBRE has secured a $15 million loan to refinance Cahaba Crossing, a 67,874-square-foot shopping center located in the Birmingham suburb of Irondale. Construction of the property was completed in 2023. A 48,837-square-foot Publix supermarket anchors the property. The 9.8-acre property, which is fully leased, comprises 10 tenants including The UPS Store, Starbucks Coffee and Heartland Dental. Additionally, there is a 1.45-acre outparcel reserved for future development. Carmel, Indiana-based 40|86 Advisors provided the five-year fixed-rate, interest-only loan. Richard Henry, Mike Ryan, Brian Linnihan and JP Cordiero of CBRE …

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Doral Shops & Professional Center
FloridaInvestment salesNews

Marcus & Millichap Arranges $9.7 Million Sale of Retail Center in Metro Miami

by Abby Cox

Doral, Fla. — Marcus & Millichap has arranged the $9.7 million sale of Doral Shops & Professional Center located in Doral, approximately 13 miles west of downtown Miami. The property spans 15,314 square feet and features nine tenants operating on a triple-net lease basis, including South Dental Doral, Doral Physical Therapy, Uni K Wax and La Coriana. Scott Sandelin and Edward Romo of Marcus & Millichap represented the undisclosed seller and procured the buyer in the transaction.

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Wallbrook
DevelopmentGrocery-anchoredLeasingMixed-useNewsNorth Carolina

Crosland, Core Sound Sign 11 Tenants to Mixed-Use Project in North Carolina

by Abby Cox

Rolesville, N.C. — Crosland Southeast and Core Sound Development has signed 11 new tenants to Wallbrook, an 80-acre mixed-use development located in Rolesville, roughly 17 miles northwest of Raleigh. Publix will anchor the property, which is scheduled to open its initial phase in mid-2025. The developers have pre-leased 21,000 square feet to tenants including restaurants, a dental practice, hair salon, massage parlor and Pilates gym. Additionally, Fifth Third Bank has signed a ground lease at the development outparcel. Approximately 9,000 square feet of space is still available for lease at …

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Investment salesNewsTexas

STRIVE Brokers Sale of 11,944-Square-Foot Retail Property in Mansfield, Texas

by Abby Cox

Mansfield, Texas —STRIVE has brokered the sale of Owen Plaza, a 11,944-square-foot retail property located in Mansfield, roughly 22 miles southwest of Dallas. The property was fully leased at the time of sale. Parker Tims and Jennifer Pierson of STRIVE represented the seller, an undisclosed local investor, in the transaction. The buyer was not disclosed.

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Mountain’s Edge Marketplace
Grocery-anchoredInvestment salesNevadaNews

CBRE Arranges $50.3 Million Sale of Shopping Center in Las Vegas

by Abby Cox

Las Vegas — CBRE has arranged the $50.2 million sale of a 115,037-square-foot portion of Mountain’s Edge Marketplace, a 250,000-square-foot shopping center located within the master-planned community of Mountain’s Edge in Las Vegas. Built in 2016, the property is situated on roughly 14.8 acres. Tenants at the center, which was 98 percent leased at the time of sale, include Ross Dress for Less, Planet Fitness, Starbucks Coffee, Supercuts, The UPS Store, China A Gogo and T-Mobile. The sale excluded the parcel occupied by Albertsons, as well as multiple single-tenant parcels. …

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Kings Lake Center
FloridaInvestment salesNews

Marcus & Millichap Brokers $6.1 Million Sale of Retail Center in Metro Tampa

by Abby Cox

Gibsonton, Fla. — Marcus & Millichap has brokered the $6.1 million sale of Kings Lake Center, a retail strip center located in Gibsonton, roughly 10 miles outside Tampa. The 15,000-square-foot property was fully leased at the time of sale. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, Blissett Hayes Big Bend LLC, in the transaction. Marcus & Millichap also procured the 1031-exchange buyer, Pacific West Land LLC. Ryan Nee is the firm’s broker of record in Florida.

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Allendale Town Center
Company newsGrocery-anchoredLeasingNew JerseyNews

Ritual Fitness Signs 3,206-Square-Foot Lease at Shopping Center in Allendale, New Jersey

by Abby Cox

Allendale, N.J. — Fitness studio Ritual Fitness has signed a 3,206-square-foot lease at Allendale Town Center in Allendale, bringing the property to full occupancy. Azarian Realty Co. leases and manages the 79,374-square-foot retail center, which comprises 20 tenant spaces, as well as an 11,290-square-foot freestanding building. Acme Supermarkets anchors the property. Kevin Pelio of Azarian represented both the landlord and the tenant in the lease negotiations.

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Valor Acres
DevelopmentFinanceMixed-useNewsOhio

BGL Real Estate Secures Financing for Mixed-Use Project in Brecksville, Ohio

by Abby Cox

Brecksville, Ohio — Brown Gibbons Lang & Co. (BGL) has secured development financing for the second phase of Valor Acres, a mixed-use project located in Brecksville, approximately fifteen miles south of Cleveland. BGL secured the financing on behalf of the developer and borrower, DiGeronimo Cos. in the transaction. Upon completion, the second phase will comprise 70,000 square feet of retail and entertainment space, 44,000 square feet of office space, 221 apartment units, a 700-space parking garage and an on-site safety station. Fifth Third Bank and First Commonwealth Bank provided the senior …

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JOANN
Company newsFinanceNew YorkNews

JOANN Files for Second Chapter 11 Bankruptcy

by Abby Cox

New York City — Fabrics and crafts retailer JOANN, which operates roughly 800 stores in 49 states, has filed for Chapter 11 bankruptcy protection, marking its second filing within a year. JOANN first filed for bankruptcy in March 2024. According to a statement issued by the company, JOANN has faced “significant and lasting challenges in the retail environment,” as well as “constrained inventory levels.” The retailer’s current debt totals $615 million, according to CNN. The company is now planning to sell all its assets, with Gordon Brothers Retail Partners — …

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