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The-Pike
CaliforniaInvestment salesNews

Redwood West, Panattoni Acquire 394,616-Square-Foot Lifestyle Center in Long Beach, California

by Abby Cox

Long Beach, Calif. — Redwood West, in partnership with Panattoni, has purchased The Pike, a 394,616-square-foot waterfront retail, dining and entertainment center in Long Beach. Site Centers Corp. sold the property for $50 million, according to L.A. Business First. Located at 95 S. Pine Ave., The Pike features mixed-use commercial space that was 91 percent leased at the time of sale. Current tenants include Cinemark Theaters, Restoration Hardware, EōS Fitness, Nike Factory Store, H&M, Levi’s, P.F. Chang’s, Gladstones, California Pizza Kitchen and Starbucks Coffee. Redwood West and Panattoni plan to …

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The-Shops-of-Uptown
Grocery-anchoredIllinoisInvestment salesNews

Mid-America Brokers $26 Million Sale of 70,144-Square-Foot, Grocery-Anchored Center in Metro Chicago

by Abby Cox

Park Ridge, Ill. — Mid-America Real Estate Corp. has brokered the sale of The Shops of Uptown, a 70,144-square-foot retail center located in Park Ridge, approximately 15 miles northwest of downtown Chicago. The purchase price was roughly $26 million, as reported by various media outlets. Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Phillips Edison Co., in the transaction. The property was acquired by an institutional investment manager. Trader Joe’s anchors the center, which features a mix of additional tenants including Blufish, LensCrafters, Nothing Bundt Cakes, Pure Barre, Club Pilates, Orangetheory …

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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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Stonewall-Square
Investment salesNewsVirginia

Marcus & Millichap Arranges $3.8 Million Sale of Shopping Center in Suburban Richmond, Virginia

by Abby Cox

Mechanicsville, Va. — Marcus & Millichap has arranged the $3.8 million sale of Stonewall Square, a 15,922-square-foot shopping center located in Mechanicsville, roughly seven miles northeast of Richmond. Chase Hensen, Dean Zang and David Crotts of Marcus & Millichap marketed the property on behalf of the seller. Built in 2008 and situated on about two acres, the retail property was fully leased at the time of sale to tenants including Firehouse Subs, Benchmark Physical Therapy and a Thai restaurant.

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Midtown-Tampa
FloridaLeasingMixed-useNews

Three New Tenants Join Midtown Tampa Mixed-Use Development in Florida

by Abby Cox

Tampa, Fla. — Three new tenants have signed leases at Midtown Tampa, a 1.8 million-square-foot mixed-use district located in Tampa. Pura Vida Miami, CorePower Yoga and The Shade Store will contribute to the nearly 186,000 square feet of retail space, which is 90 percent built out, according to the Tampa Bay Business Journal. The size of the spaces range from 2,000 square feet to 4,000 square feet. The new tenants are expected to open later this year or early next year. Additional tenants at Midtown Tampa include Whole Foods Market, …

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Family-Dollar
IllinoisInvestment salesNews

JLL, GA Group Negotiates $75 Million Sale-Leaseback of Family Dollar Retail Portfolio

by Abby Cox

Chicago — JLL Capital Markets and GA Group Real Estate have negotiated the $75 million sale-leaseback for a 46-property Family Dollar retail portfolio across 19 states. The properties were acquired by an institutional real estate investor. JLL and GA Group Real Estate represented the seller, FD Retail Properties LLC, in the transaction.

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DevelopmentFinanceFloridaNews

Ocean Bank Provides $15 Million in Financing for Experiential Recreation Center in Orlando

by Abby Cox

Orlando, Fla. — Ocean Bank has provided a $15 million loan to finance Orlando PopStroke, a 16,229-square-foot experiential recreation center and miniature golf venue under construction at 8554 International Drive in Orlando. The Tiger Woods-backed destination will span two stories and will include two 18-hole mini-golf courses, an outdoor rooftop space, a full-service restaurant (as well as the Dune Dog Café), a children’s playground and an outdoor beer garden. The center replaces the former Pirate’s Cove Adventure Park and will be the third PopStroke facility in the Orlando area. Juan Mendiola …

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10th-Woodland_Nashville
Investment salesNewsTennessee

Matthews Brokers $8.5 Million Sale of Retail Strip Center in East Nashville

by Abby Cox

Nashville, Tenn. — Matthews has brokered the $8.5 million sale of a retail strip center located at 1000 Woodland St. in east Nashville’s Five Points district. Built in 2023, the retail center spans 8,207 square feet and houses two tenants: Bartaco and Edley’s Bar-B-Que, which occupy the center on 10-year triple-net leases with annual rent escalations. Ben Burnett of Matthews brokered the transaction. The buyer was a locally based private investor completing a 1031 exchange. The seller was not disclosed. Additionally, Matthews Capital Markets’ team secured a $5.1 million, five-year …

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Chipotle
FloridaInvestment salesNews

SRS Arranges $4.5 Million Sale of Single-Tenant Restaurant Property in Orlando

by Abby Cox

Orlando, Fla. — SRS Real Estate Partners has arranged the $4.5 million sale of a single-tenant restaurant property located within a new 75-acre mixed-use development under construction in Orlando. Chipotle occupies the 2,493-square-foot building on a 15-year corporate-guaranteed absolute triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based developer and investor. The buyer was a Columbus, Ohio-based investor.

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Retail_Village-at-Burlington-Creek
Grocery-anchoredInvestment salesMissouriNews

Gart Properties Acquires 158,000-Square-Foot, Grocery-Anchored Shopping Center in Kansas City, Missouri

by Abby Cox

Kansas City, Mo. — Gart Properties has acquired Village at Burlington Creek, a 158,000-square-foot shopping center located in Kansas City. Sprouts Farmers Market anchors the property, which was 83 percent leased at the time of sale. Other tenants include Orangetheory Fitness, Club Pilates, Caribou Coffee and Taco Bell, among others. Chris Robertson of Newmark Zimmer represented the buyer in the transaction. PNC Bank financed the acquisition. Inland Real Estate Income Trust was the seller.

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