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ConnecticutGrocery-anchoredInvestment salesNews

Clarion Partners Acquires 156,568-Square-Foot, Grocery-Anchored Center in Norwalk, Connecticut

by Abby Cox

Norwalk, Conn. — Clarion Partners, on behalf of Clarion Partners Real Estate Income Fund, has acquired Main Avenue Shopping Plaza, a 156,568-square-foot shopping center located in the southern coastal Connecticut city of Norwalk. According to the Hartford Business Journal, the property sold for $45.2 million. The retail center, which was fully leased at the time of sale, is anchored by Stop & Shop, Hobby Lobby and Total Wine & More. JLL represented the seller, a joint venture between Sagehall Partners and The Prusik Group, in the transaction.

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AlabamaGrocery-anchoredInvestment salesNews

IPA Brokers $23.1 Million Sale of Publix-Anchored Shopping Center in Alexander City, Alabama

by Abby Cox

Alexander City, Ala. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $23.1 million sale of The Gateway at Lake Martin, a grocery-anchored shopping center located in east-central Alabama. Built in 2024, the 93,352-square-foot center is situated on a 22-acre site. The Gateway at Lake Martin features a mix of tenants including Publix, Marshalls, Starbucks Coffee, Rack Room Shoes and Five Below, as well as four outparcels that were not part of the transaction. Zach Taylor of IPA’s Atlanta office, along with Robby Pfeiffer and …

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CaliforniaInvestment salesNews

RealSource Group Arranges $11.8 Million Sale of Single-Tenant Retail Property in Inland Empire

by Abby Cox

Lake Elsinore, Calif. — RealSource Group has arranged the $11.8 million sale of a single-tenant retail property located in the Inland Empire city of Lake Elsinore. Built in 2008, the 45,460-square-foot building is occupied by LA Fitness and has eight years remaining on its lease. Austin Blodgett and Jonathan Schiffer of RealSource Group represented the seller, a private Southern California investor group, in the transaction. Richard Lee of R&L Properties represented the buyer, another private investor based in Southern California.

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Investment salesNewsPennsylvania

Marcus & Millichap Negotiates $6 Million Sale of Retail Property in Pottstown, Pennsylvania

by Abby Cox

Pottstown, Pa. — Marcus & Millichap has negotiated the $6 million sale of the Upland Square retail pads, which are outparcels to the Upland Square Shopping Center, a 400,716-square-foot power center in Pottstown, approximately 20 miles east of Reading. The two buildings, which were built in 2009 and 2016, total 10,944 square feet. The property features three retail suites and was fully occupied at the time of sale. Tenants include Aspen Dental, Starbucks Coffee and Chili’s. Anchored by Giant, Upland Square Shopping Center sits adjacent to the retail outparcels and features …

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North Towne Commons
Investment salesNewsOhio

Atlantic Capital Partners Arranges $6.2 Million Sale of North Towne Commons in Toledo, Ohio

by Abby Cox

Toledo, Ohio — Atlantic Capital Partners has arranged the $6.2 million sale of North Towne Commons, a 98,268-square-foot retail center located in Toledo. North Towne Commons, which was 58 percent leased at the time of sale, features a mix of tenants including Ross Dress for Less, Five Below, Michaels, Shoe Show, Pet Supplies Plus and Aaron’s. Target and Kroger shadow anchor the property. Teddy Driscoll of Alantic Capital Partners represented both the buyer and the seller in the transaction.

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CaliforniaGrocery-anchoredInvestment salesNews

Paragon Acquires 46,055-Square-Foot Grocery-Anchored Center in Los Angeles

by Abby Cox

Los Angeles — Paragon Commercial Group has acquired a 46,055-square-foot shopping center located in the Tujunga neighborhood of Los Angeles. The property is anchored by Smart & Final, a tenant of more than 30 years, and Goodwill, which has occupied the center for 25 years. Paragon plans to upgrade the center with improvements to the common area, façades, lighting and signage. Greg Offsay and Caleb Morrison of illi Commercial Real Estate represented the buyer in the off-market transaction. The seller was the family of the original developer that had owned and operated …

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IllinoisInvestment salesNews

Mid-America Negotiates Sale of 37,615-Square-Foot Lincoln Park West Retail Property in Chicago

by Abby Cox

Chicago — Mid-America Real Estate Corp. has negotiated the sale of Lincoln Park West, a 37,615-square-foot retail property located in Chicago’s Lincoln Park neighborhood. The property offers value-add potential through the lease-up or adaptive reuse of the 19,531-square-foot second floor. Tenants include PNC Bank, Starbucks Coffee, RJ Grunts (Lettuce Entertain You) and Lincoln Park Preschool. The weighted average lease term is seven years. George Ghattas, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, LLJ Ventures. A private local investor was the buyer.

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NewsRestaurantsTexas

Gong cha Signs 50-Unit Deal in Texas

by Abby Cox

Boston — Taiwanese beverage chain Gong cha has signed a 50-unit exclusive area development agreement in Texas with seasoned franchise operator Bakers Acres & Cattle Co (BACC). The agreement marks the largest direct franchising deal in Gong cha history. This deal follows Gong cha’s recent acquisition of master franchise rights for 170 U.S. locations across 13 states, including Texas. Under the 50-unit deal, BACC will further develop Gong cha’s presence across four major Texas markets over the next seven years, including Austin, Houston, San Antonio and Dallas. Since launching direct franchising …

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Legends at Sparks Marina
Investment salesMixed-useNevadaNews

Alturas Capital Acquires 421,000-Square-Foot Lifestyle Component of Legends at Sparks Marina in Nevada

by Abby Cox

Sparks, Nev. — Idaho-based Alturas Capital Partners (ACP) has acquired the 421,000-square-foot lifestyle component of Legends at Sparks Marina, a 1.2 million-square-foot mixed-use project located in Sparks, approximately four miles east of downtown Reno. The property was purchased for more than $100 million, as reported by the Reno Gazette Journal. Legends at Sparks Marina, which was 97 percent leased at the time of sale, features a mix of more than 65 national and regional tenants including H&M, Nike, Sephora, Five Below, Yard House, Galaxy Theatres, Burlington and Cavender’s. Alongside the retail …

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Promenade
FloridaInvestment salesNews

SRS Real Estate Brokers $7.9 Million Sale of Retail Strip Center in Metro Tampa, Florida

by Abby Cox

Wesley Chapel, Fla. — SRS Real Estate Partners has brokered the $7.9 million sale of Promenade, a three-tenant retail property located in Wesley Chapel, roughly 24 miles north of downtown Tampa. Built in 2025, the 9,222-square-foot property was fully leased at the time of sale to Heartland Dental, GoodVets and Ann’s Salon & Spa. William Wamble, Patrick Nutt and Connor Barton of SRS represented the seller, a Florida-based developer and investor. The all-cash buyer was a Florida-based investor.

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