Power centers

Destination-at-Gateway
ArizonaDevelopmentNewsPower centers

Diversified Partners Advances 163-Acre Power Center Development in Mesa, Arizona

by Abby Cox

Mesa, Ariz. — Diversified Partners is advancing the development of Destination at Gateway, a 163-acre power center located at Signal Butte Road in Mesa. The project will include two components: 24 Auto Row, an 80-acre, purpose-built auto mall, and an adjacent power center. Off-site improvements on the east side of Signal Butte Road have been completed, while site work on the west side is underway and is scheduled to be completed by the third quarter of 2026. Current and planned tenants for the project’s power center include Walmart, 7 Brew, Take …

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CaliforniaFinanceNewsPower centers

Walker & Dunlop Arranges $46 Million in Refinancing for Power Center in Metro Los Angeles

by Abby Cox

Rosemead, Calif. — Walker & Dunlop has arranged a $46 million loan for the refinancing of Rosemead Place, a 336,718-square-foot power center located in Rosemead, roughly 12 miles east of downtown Los Angeles in the West San Gabriel Valley. Trevor Fase and Lynn Pearson of Walker & Dunlop secured the fixed-rate, interest-only permanent debt loan. Joel Minugh and James Ko of Wells Fargo provided the loan for the borrower, a family office. Rosemead Place features a mix of tenants including Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty and …

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Mesa-Grand-Shopping-Center
ArizonaInvestment salesNewsPower centers

Gantry Secures $38 Million in Refinancing for 224,000-Square-Foot Power Center in Metro Phoenix

by Abby Cox

Mesa, Ariz. — Gantry has secured a $38 million permanent loan to refinance maturing debt for Mesa Grand, a 224,000-square-foot regional power center located in Mesa, roughly 19 miles east of Phoenix. Tenants at the center include Famous Footwear, Burlington Coat Factory, Michaels, Dollar Tree, Texas Roadhouse, Starbucks Coffee, Chili’s and Crunch Fitness, which will open soon. Tim Storey, Chad Metzger and Andrew Christopherson of Gantry represented the borrower, a private real estate investor. An institutional balance sheet lender provided the five-year, fixed rate loan, which features full-term interest-only payments with …

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Hammock-Landing
FloridaInvestment salesNewsPower centers

Atlantic Capital Partners Sells Power Center on Florida’s Space Coast for $78.5 Million

by Abby Cox

West Melbourne, Fla. — Atlantic Capital Partners has sold Hammock Landing, a 750,000-square-foot, super-regional power center located in West Melbourne, a city on Florida’s Space Coast, for $78.5 million. Tenants at Hammock Landing include Marshalls, HomeGoods, Ross Dress for Less, Academy Sports, Petco, Buffalo Wild Wings, AT&T, Ulta Beauty and SunTrust Bank. Target and Kohls shadow anchor the property. The first phase of the center was developed in 2009, and the second phase was delivered in 2014. Justin Smith, Sam Koonce, Dean Sands, Chris Peterson, Fred Victor and Matt Ericson of …

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marina-marketplace
CaliforniaNewsPower centersRetailers

Nordstrom Rack to Open Two New California Stores

by Abby Cox

Marina del Rey and Torrance, Calif. — Seattle-based fashion retailer Nordstrom plans to open two new Nordstrom Rack stores in Southern California. One of the stores will be located at Marina Marketplace, a 414,325-square-foot power center located in Marina del Rey, approximately 12 miles west of downtown Los Angeles. Tenants at Marina Marketplace, which is leased and managed by JLL, include Gelson’s Market, Equinox, Ulta Beauty, Barnes & Noble, Yard House and an AMC Dine-In Theatre. The second store will be situated at Rolling Hills Plaza, a 500,000-square-foot retail center located …

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village-park-plaza
IndianaInvestment salesNewsPower centers

CBRE Negotiates Sale of 290,016-Square-Foot Power Center in Metro Indianapolis

by Abby Cox

Carmel, Ind. — CBRE has negotiated the sale of Village Park Plaza, a 290,016-square-foot power center located in Carmel, roughly 23 miles north of Indianapolis. Christian Williams, Michael Watson, Michael Kaider, Keegan Barrett, George Good, Richard Frolik, Adam Foret and Kevin Broderick of CBRE’s National Retail Partners team represented the seller, Washington Prime Group, in the transaction. Oakbrook Terrace, Illinois-based Pine Tree, in partnership with a state pension fund, purchased the property. Village Park Plaza was 99 percent leased at the time of sale to tenants including Walmart, Menard’s, Academy Sports, …

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The Quad at Whittier
CaliforniaGrocery-anchoredInvestment salesNewsPower centers

Brixton Capital Acquires The Quad at Whittier for $100 Million in California

by Abby Cox

Whittier, Calif. — Brixton Capital has acquired The Quad at Whittier, a 314,593-square-foot, grocery-anchored power center located in Whittier, approximately 20 miles southeast of Los Angeles, for $100 million. A portion of the funding for the acquisition originated from a $250 million retail-focused joint venture between Brixton Capital and an undisclosed global investment firm. Chase Levra and Chris Hoffmann of Eastdil Secured represented the undisclosed seller, while Brixton Capital represented itself in the transaction. The Quad at Whittier spans nine buildings and was 95.6 percent leased at the time of sale. …

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Best-Buy_Brook-Highland-Plaza_Birmingham
AlabamaFinanceNewsPower centers

CBRE Arranges $57 Million in Refinancing for 422,337-Square-Foot Power Center in Birmingham, Alabama

by Abby Cox

Birmingham, Ala. — CBRE has arranged a $57 million loan for the refinancing of Brook Highland Plaza, a 422,337-square-foot power center located in Birmingham. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan through an undisclosed life insurance company on behalf of the borrower, First National Realty Partners. Brook Highland Plaza is situated on 52 acres and was 94.4 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Michaels, Shoe …

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Central Texas Marketplace
Investment salesNewsPower centersTexas

JLL Negotiates Partial Sale of Central Texas Marketplace in Waco, Texas

by Abby Cox

Waco, Texas — JLL Capital Markets has negotiated the sale of a portion of Central Texas Marketplace, a 526,000-square-foot power center located in Waco. A James Nix entity doing business as G3C Operating LLC purchased a 181,708-square-foot component of the center, which features Sprouts Farmers Market, Best Buy, Office Depot and Burlington. Adam Howells, Barry Brown, Erin Lazarus and Brennan Fewin of JLL’s Investment Sales and Advisory team represented the seller, Ball Ventures, in the transaction. Built between 2005 and 2015, Central Texas Marketplace is anchored by Cabela’s. Other tenants …

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Bradley Place
Investment salesNewsPower centersTennessee

Atlantic Capital Partners Arranges Sale of Bradley Place in Suburban Chattanooga for $24.5 Million

by Abby Cox

Cleveland, Tenn. — Atlantic Capital Partners, the Capital Markets division of Atlantic Retail, has sold Bradley Place, a 118,082-square-foot power center located in the northeast Chattanooga suburb of Cleveland, for $24.5 million. HomeGoods, T.J. Maxx, PetSmart and Ulta Beauty anchor the property, which was fully leased at the time of sale. A portion of Bradley Square Mall was redeveloped in 2019 to create space to accommodate Bradley Place. Fred Victor, Sam Koonce, Teddy Driscoll and Matt Ericson of Atlantic Capital Partners represented the seller. The buyer was not disclosed.

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