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Promenades-Port-Charlotte
FloridaInvestment salesNews

JLL Brokers $23.5 Million Sale of Aldi-Anchored Shopping Center in Port Charlotte, Florida

by Abby Cox

Port Charlotte, Fla. — JLL has brokered the $23.5 million sale of Promenades Port Charlotte, a 226,000-square-foot grocery-anchored shopping center located at 3280 Tamiami Trail in Port Charlotte. The 1970s-era property was completely renovated in 2024, and its Winn-Dixie anchor was recently rebranded to Aldi. Promenades Port Charlotte was 79.5 percent leased at the time of sale to tenants including Bealls Outlet, HCA Florida Fawcett Hospital and YouFit Gym. Danny Finkle, Jorge Portela, Kim Flores and Jacob Wise of JLL represented the undisclosed seller in the transaction. Kenny Cutler and …

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Lake-Crest-Plaza
AlabamaInvestment salesNews

FrostPoint Capital Acquires 22,069-Square-Foot Retail Center in Metro Birmingham, Alabama for $5.6 Million

by Abby Cox

Hoover, Ala. — FrostPoint Capital has acquired Lake Crest Plaza, a 22,069-square-foot retail center located in Hoover, roughly 10 miles south of Birmingham, for $5.6 million. The property, which was fully leased at the time of sale, features a mix of 13 tenants including Whiskey Foxtrot Burger Dive, Oak & Ale and Cajun Cleaver. Crawford Square Real Estate Advisors will manage and lease the center, along with FrostPoint Capital.

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Chipotle-First-Watch
IllinoisInvestment salesNews

Marcus & Millichap Negotiates $5.6 Million Sale of Two-Tenant Retail Property in Metro Chicago

by Abby Cox

Algonquin, Ill. — Marcus & Millichap has negotiated the $5.6 million sale of a newly built retail property occupied by Chipotle Mexican Grill and First Watch in Algonquin. The 6,150-square-foot building is located at 1721 S. Randall Road within The Enclave mixed-use development. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an undisclosed developer, in the transaction. Darpan Patel and Dan Yozwiak of Marcus & Millichap procured the out-of-state buyer.

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Lowes_Cadia-Village-Mooresville
DevelopmentGrocery-anchoredNewsNorth Carolina

Lowes Foods to Anchor Mixed-Use Project Near Charlotte, North Carolina

by Abby Cox

Mooresville, N.C. — Lowes Foods plans to anchor Cadia Village Mooresville, a mixed-use development underway in suburban Charlotte. The Winston-Salem-based grocer will open a 52,000-square-foot store that features various departments, including a craft brewery (The Beer Den), coffee shop (Boxcar Coffee) and bakery (The Cakery). The developer, Pappas Properties, plans to break ground on the new Lowes Foods store in the third quarter, aiming for delivery in 2027. Situated near Lake Norman, Cadia Village Mooresville will feature a retail center, offices, a community village green space, for-sale homes, active adult apartments …

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Paris-Towne-Center
Grocery-anchoredInvestment salesNewsTexas

Culpepper Realty Sells 291,958-Square-Foot, Grocery-Anchored Retail Center in Northeast Texas

by Abby Cox

Paris, Texas — Culpepper Realty Co. has sold Paris Towne Center, a 291,958-square-foot, grocery-anchored shopping center located in the Northeast Texas city of Paris. Adam Howells and Erin Myer of JLL Capital Markets represented the seller in the transaction. The buyer was Corsair Property Co. Built in 1976, Paris Towne Center was 96 percent occupied at the time of sale. Tenants include Aldi, Hobby Lobby, Ross Dress for Less, T.J. Maxx, Five Below, Ulta Beauty and Bath & Body Works.

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DevelopmentFinanceMichiganNews

Michigan Strategic Fund Approves $270.7 Million Plan for Redevelopment of Former Lakeside Mall

by Abby Cox

Sterling Heights, Mich. — Gov. Gretchen Whitmer and the Michigan Strategic Fund Board have approved a $270.7 million Transformational Brownfield Plan (TBP) to support the redevelopment of the former Lakeside Mall site in Sterling Heights. The proposed plan includes roughly 1,545 residential units across nine multifamily buildings ranging in size from four to five stories, including a building targeted at residents over 55 years of age. Additionally, the project will add 154,007 square feet of new retail space, a central community park and green space, as well as a mix …

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Circle-K-Representative-Photo
FloridaInvestment salesNews

SRS Negotiates $4.3 Million Sale of Single-Tenant Retail Property in Western Florida

by Abby Cox

Seminole, Fla. — SRS Real Estate Partners has negotiated the $4.3 million sale of a single-tenant retail property located in Seminole, approximately 23 miles west of Tampa. Circle K occupies the 5,200-square-foot building on a new 15-year, corporate-guaranteed, absolute triple-net lease. William Wamble and Patrick Nutt of SRS represented the seller, an Ohio-based national investor and developer. The buyer was a South Florida-based private investor.

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Grand-Plaza-East
IllinoisInvestment salesNews

Marcus & Millichap Brokers $2.8 Million Sale of 36,018-Square-Foot Retail Center in Metro Chicago

by Abby Cox

Waukegan, Ill. — Marcus & Millichap has brokered the $2.8 million sale of Grand Plaza East, a 36,018-square-foot retail center located in Waukegan, roughly 37 miles south of downtown Chicago. Built in 1972 on nearly three acres, the five-suite retail property is anchored by Domino’s Pizza. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, an Illinois-based corporation, and procured the buyer, a private investor.

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Neyland-Entertainment-District_Knoxville
DevelopmentEntertainmentMixed-useNewsTennessee

Partnership to Launch $280 Million Mixed-Use Entertainment District Surrounding Neyland Stadium in Knoxville

by Abby Cox

Knoxville, Tenn. — A public-private partnership between the University of Tennessee and a newly formed development platform comprising Arctos, RVX Ventures and Magellan Development Group will soon begin the development of Neyland Entertainment District, a $280 million mixed-use village surrounding Neyland Stadium, the home football arena of the University of Tennessee. The waterfront development in Knoxville will feature approximately 100,000 square feet of entertainment space alongside a 24-story hotel and residences with rooftop space and a private members club. Arctos is the majority equity investor in the project and is …

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Parker-Square
Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 94,532-Square-Foot Retail Center in Wichita Falls, Texas

by Abby Cox

Wichita Falls, Texas — Marcus & Millichap has brokered the sale of Parker Square, a 94,532-square-foot shopping center located in Wichita Falls. Built in 1955, the multi-tenant property features 23 retail suites and was 97 percent leased at the time of sale. Crunch Fitness occupies nearly half of the center’s rentable area. Other tenants include Jason’s Deli, Massage Envy, Heff’s Burgers and Deatherage Certified Optics, according to LoopNet Inc. Chris Gainey and Philip Levy of Marcus & Millichap marketed the property on behalf of the seller, one of the largest privately …

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