Phoenix — CenterSquare has acquired Park at San Tan, a 19,888-square-foot retail center located in Phoenix. Originally developed in 2007, the property comprises three buildings and was 89 percent occupied at the time of sale. Tenants at the center include Firehouse Subs and Yogi’s Grill.
Irving, Texas — The Woodmont Co. has negotiated the sale of Story Crossing, a 6,038-square-foot retail property located in Irving. Russel Wehsener of The Woodmont Co. represented the seller in the transaction, in collaboration with Jeff Lefko of Hanley Investment Group. Compass represented the buyer. Tenants at the property, which is situated on 0.7 acres, include Starbucks Coffee, T-Mobile and CBD Kratom.
Shenandoah, Texas — BRKTHROUGH will open a new, 20,000-square-foot experiential entertainment venue in Shenandoah, roughly 30 miles north of Houston. Located within the Metropark Square mixed-use development, the facility will feature 40 challenge rooms with competition-focused games. The concept also includes a curated food and drink menu offered in a dedicated BRK ROOM space. Sam Moon Group manages the Metropark Square development.
Clifton, N.J. — Cronheim Mortgage has arranged a $20 million loan for the refinancing of Styertowne Shopping Center, a 236,000-square-foot retail center located in the Northern New Jersey community of Clifton. Stew Leonard’s Farm Fresh Food & Wine anchors the property, which was originally built in 1949. Other tenants at the center include Michaels, Planet Fitness, Dollar Tree and GNC. Andrew Stewart, Dev Morris and Brandon Szwalbenest of Cronheim secured the 10-year loan through Reinsurance Group of America on behalf of the undisclosed borrower.
New York City — A joint venture between Union Investment and Nuveen Real Estate has sold 636 Sixth Avenue, a retail property located in the Flatiron District of Manhattan in New York City. The property totals roughly 18,300 square feet and features office space on the upper floors. The joint venture originally acquired the building in 2016 for the open-ended real estate fund Unilmmo: Global. The undisclosed buyer plans to redevelop the property.
Lakewood, Colo. — RealSource Group has brokered the $2.4 million sale of a single-tenant retail property located in Lakewood. Situated on 1.2 acres, the building totals 4,248 square feet. Grease Monkey occupies the property. Jonathan Schiffer and Austin Blodgett of RealSource, in association with ParaSell Inc., represented the seller, a private investor, in the transaction.
Cedar Hill, Texas — Kids Empire will open a 10,527-square-foot indoor playground in Cedar Hill, a suburb of Dallas. The venue will be situated within Hillside Village, a 615,000-square-foot, open-air power center anchored by Dick’s Sporting Goods, Barnes & Noble, Old Navy and H&M. Gretchen Miller, Emilie Paulson and Bryn Carden of Weitzman represented the landlord, PREP Property Group, in the lease negotiations. Robin Barrow and Eddie Liebman of Weitzman, with Austin Diemer and Shelby Pedroza of E & R Property Group, represented Kids Empire.
Melville, N.Y. — A&G Real Estate Partners will market 296 Big Lots store leases for sale in connection with the retailer’s bankruptcy proceedings and restructuring. Columbus, Ohio-based Big Lots filed for Chapter 11 bankruptcy on Sept. 9 of this year to facilitate a sale of substantially all of its assets and operations to an affiliate of Nexus Capital Management. Big Lots has already received approval to commence a sale process of 144 store leases and will seek approval in the coming weeks for the sale process of the additional 152 leases. …
Dalton, Ga. — Faris Lee Investments has arranged the $4.7 million sale of a free-standing retail pad building located in Dalton in northern Georgia. Developed in 2023, the two-tenant building features a drive-thru and is situated at the entrance to the Dalton Square shopping center. Starbucks Coffee and AFC Urgent Care currently occupy the property. Scott DeYoung, Jeff Conover, Don MacLellan and Greg Lukosky of Faris Lee represented the undisclosed seller in the transaction. A Georgia-based 1031-exchange private investor was the buyer. Tenants at Dalton Square include Food City, Ross Dress …
Newport Beach, Calif. — California-based pizza chain Mountain Mike’s has signed three multi-unit franchise agreements in Texas. The agreements include plans for five restaurants in Austin, three restaurants in metro Houston and three restaurants in the Dallas-Fort Worth Metro. Franchisees Rajeev Dewan, Ajay and Karina Gorde and Tim Fogarty will own and operate the units in Austin, metro Houston and the Dallas-Fort Worth area, respectively. Mountain Mike’s current portfolio includes four existing restaurants in the Dallas-Fort Worth metro and one in Greater Houston.
