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CaliforniaInvestment salesNews

Progressive Brokers $9.5 Million Sale of Single-Tenant Property in Southern California

by Hayden Spiess

Highland, Calif. — Progressive Real Estate Partners has brokered the $9.5 million sale of a single-tenant retail property located in Highland. Situated on an outparcel to Highlands Crossing, a regional shopping center, the property is occupied by a Chevron Station with a 3,000-square-foot ExtraMile Convenience Store and Express Car Wash. G & M Oil Co. acquired both the real estate and the business in the transaction. Victor Buendia of Progressive represented the seller, a San Diego-based private investor, in the sale. Scott Olson of C-Store Realty represented the buyer. The property …

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FloridaInvestment salesMixed-useNews

Linkvest Capital, MMG Equity Partners Acquire 4.8-Acre Mixed-Use Development in Metro Miami

by Hayden Spiess

Homestead, Fla. — Linkvest Capital and MMG Equity Partners have acquired Homestead Station, a 4.8-acre mixed-use development located in Homestead, approximately 30 miles southwest of Miami. LV Lending was the seller, and the transaction was completed through a deed in lieu of foreclosure. Delivered in 2019, Homestead Station features tenants including Evo Entertainment + IMAX and retail and dining space, as well as a 1,100-space parking garage. Roughly 18,000 square feet of vacant space is currently available for lease at the property. 

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GeorgiaInvestment salesNews

Sterling Organization Sells Roswell Village Shopping Center in Metro Atlanta

by Hayden Spiess

Roswell, Ga. — Sterling Organization has sold Roswell Village Shopping Center, a retail center located in Roswell, roughly 25 miles north of Atlanta. Revesco Properties purchased the center for an undisclosed price. Tenants at the property, which was 94 percent leased at the time of sale, include Ross Dress for Less, Marshalls and Crunch Fitness. Sterling originally acquired the center in 2014 for $10.6 million. Jim Hamilton of JLL brokered the sale on behalf of Sterling. 

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Company newsNewsTexas

Trademark to Manage Leasing at 412,900-Square-Foot Retail Center in Katy, Texas

by Hayden Spiess

Katy, Texas — Trademark Property Co. has been awarded the leasing assignment for LaCenterra at Cinco Ranch, a 412,900-square-foot retail center located in the Houston suburb of Katy. Current tenants at the property, which is situated within the Cinco Ranch master-planned community, include Trader Joe’s, Alamo Drafthouse Cinema, Athleta, CAVA, Lululemon, Lovesac, Warby Parker, Postino, Dish Society, Sephora, Starbucks Coffee, Pure Barre and Nando’s PERi-PERi. Daniel Goldware of Trademark will lead leasing at the center, which is managed by JLL. 

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DevelopmentFloridaInvestment salesNews

PEBB, Banyan to Develop 14.2-Acre Retail Project in Port St. Lucie, Florida

by Hayden Spiess

Port St. Lucie, Fla. — PEBB Enterprises and Banyan Development have acquired a land parcel in Port St. Lucie, with plans to develop a 14.2-acre retail project at the site. Dubbed the Shoppes at Southern Grove, the retail center will be situated within the Tradition master-planned community. This marks the second retail development within Tradition for the joint venture, which acquired the 23-acre site from Mattamy Palm Beach LLC for $7.5 million. Upon completion, the project will feature additional outparcels available for ground lease ranging in size from 1 to 2.4 …

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Paul-Kurzawa
Company newsNewsTexas

Centennial Appoints Paul Kurzawa President

by Hayden Spiess

Dallas — Dallas-based retail real estate owner and operator Centennial has appointed Paul Kurzawa to serve as president of the company. Kurzawa has 25 years of experience in the industry, including tenures with The Blackstone Group, Equity Office Properties, Westfield Corp., Lend Lease Corp., General Property Trust and Caruso. He most recently served as chief operating officer of CenterCal Properties. Current president Whitney Livingston is departing to join the International Council of Shopping Centers (ICSC) as chief operating officer. In addition to its portfolio of owned shopping, dining, entertainment and mixed-use …

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LeasingNew JerseyNews

Four New Tenants Sign Leases at Bergen Town Center in New Jersey

by Hayden Spiess

Paramus, N.J. — Four new tenants have signed leases at Bergen Town Center, a retail center located in Paramus. Bath & Body Works and Crumbl recently opened at the property, occupying 4,157 and 2,138 square feet, respectively. First Watch and Tacoria are scheduled to join the lineup in 2025, opening 4,790-square-foot and 1,654-square-foot restaurants. Taryn Brandes, Emily Green and Alexandra Yanoff of Brand Urban LLC represented the landlord, Urban Edge Properties, in the lease negotiations with Crumbl, First Watch and Tacoria. Paul Schiffer represented Urban Edge in negotiations with Bath & …

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Company newsFinanceNew YorkNews

A&G Markets 255 Big Lots Store Leases For Sale

by Hayden Spiess

Melville, N.Y. — Melville-based A&G Real Estate Partners is accepting bids on 255 Big Lots store leases throughout the country as part of the retailer’s Chapter 11 restructuring. Of the leases, 51 are new to market. Big Lots initiated voluntary Chapter 11 bankruptcy proceedings Sept. 9 to facilitate a sale of substantially all of its assets and business operations. Ranging in size from 16,321 to 54,610 square feet, the leases are located across 41 states. Final bid deadlines for the leases, which A&G is offering in two groups, will be in …

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Company newsFinanceNewsRestaurantsTexas

TGI Fridays Files for Chapter 11 Bankruptcy

by Hayden Spiess

Dallas — TGI Fridays Inc., which owns and operates 39 U.S. restaurants, has voluntarily filed for Chapter 11 bankruptcy protection in the Northern District of Texas. The Dallas-based operator cited long-running declines in sales dating back to the pandemic as the main impetus behind the filing. All independently owned and operated franchise locations, both foreign and domestic, are unaffected by the filing. An entity doing business as TGI Fridays Franchisor LLC, which owns the TGI Fridays brand and other intellectual property, was also unaffected. TGI Fridays Inc. has secured a commitment …

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Investment salesNewsVirginia

Cohen & Steers, DLC Acquire 119,085-Square-Foot Shopping Center in Metro Washington, D.C. 

by Hayden Spiess

Springfield, Va. — Cohen & Steers and DLC have acquired Springfield Commons, a 119,085-square-foot shopping center located in Springfield, approximately 15 miles outside Washington, D.C. Tenants at the property, which was 78 percent leased at the time of sale, include Pure Gym, Old Navy, Pure Hockey and Staples. The center is situated across from Springfield Town Center. “Valuations in the open-air shopping center sector are attractive,” says James Corl, head of the private real estate group at Cohen & Steers. “The market is revealing compelling investment opportunities.”

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