NEW CANEY, TEXAS — The Signorelli Co. will undertake an 850,000-square-foot retail expansion project at Valley Ranch, the local developer’s 1,400-acre master-planned community in the northeastern Houston suburb of New Caney, according to reports from Community Impact Newspaper and Kingwood.com. According to the former publication, the new retail development will be known as Marketplace and will house a mix of grocery, soft goods and service retailers, as well as food-and-beverage concepts. The latter publication reports that Marketplace will feature a central green area and that Signorelli has tapped Palo Duro Commercial Partners as the leasing agent. Construction is set to begin in early 2026, according to both news outlets.
CLERMONT, FLA. — Marcus & Millichap has brokered the $11.3 million sale of Legends Pointe, a two-building mixed-use retail and medical office property located in Clermont, approximately 22 miles west of Orlando. Originally built in 2006, the recently renovated property is situated on 4.3 acres and totals 47,418 square feet. Legends Pointe comprises 18 office suites and 10 retail units. Yassin Benkabbou and Salim Valiani of Marcus & Millichap’s Orlando office represented the seller, a local limited liability company, in the transaction.
MONROVIA, CALIF. — Newport Beach, Calif.-based Westar Associates has completed the disposition of Foothill Park Plaza, a neighborhood shopping center in Monrovia, to Phillips Edison & Co. for an undisclosed price. Developed in 1985, the 96,390-square-foot center is occupied by Vons, Chase Bank, Wendy’s, Blaze Pizza, Baskin Robbins and See’s Candies. Pete Bethea, Rob Ippolito and Glen Rudy of Newmark represented the seller, which has owned, leased and managed the property for the last 40 years through its affiliated companies.
COLORADO SPRINGS, COLO. — Revitalization Unlimited has purchased The DeGraff Building, a mixed-use property at 118 N. Tejon St. in Colorado Springs. Terms of the transaction were not released. The four-story, 34,160-square-foot building features 18 rental units, 16 of which are currently leased. For the past decade, Oskar Blues Grill & Brew has occupied the first floor and basement, while the upper floors are used as office space. Built in 1897, The DeGraff Building is listed on the National Register of Historic Places.
LIBERTY, MO. — Block & Co. Inc. Realtors has completed the lease-up of Crossroads Shopping Center in the Kansas City suburb of Liberty. The most recent lease transactions were with Total Wireless and Frame It. Additional tenants include Savers, Curves, Sugar Kittens Cat Café & Cattery, Palen Music Center, Dollar General, Pizza Hut and Mi Hacienda. Daniel Brocato and Phil Peck of Block & Co. are the leasing agents for the property.
DOYLESTOWN, PA. — Whole Foods Market has opened a 43,617-square-foot store at 1745 S. Easton Road in Doylestown, a northern suburb of Philadelphia. The store features full-service meat and seafood counters, a bakery, prepared foods section and a wellness and beauty section, as well as a selection of more than 750 wines and 280 craft beers. A grand opening celebration was held this morning.
NEW YORK CITY — Avis Budget Group has signed a 21,400-square-foot retail lease in The Bronx. The car rental agency has committed to the property at 4075-4077 Boston Road, which includes a 16,000-square-foot lot, for the next 20 years. Steve Lorenzo and Garry Steinberg of Lee & Associates represented the tenant in the lease negotiations. Ariel Castellanos and Federico Mazzeo from Pinnacle Realty represented the landlord.
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JLL: US Retail Sector Remains Optimistic as Market Conditions Shift
CHICAGO — Retail closures are at a cyclical high, totaling a whopping 9,900 business shutdowns in 2024, according to JLL’s fourth-quarter 2024 retail report entitled “United States Retail Market Dynamics.” For the first time in several years, store closures outpaced store openings in a calendar year. Fabric and crafts retailer JOANN, who filed for Chapter 11 bankruptcy protection twice within a year, is shuttering all 800 stores, while major department store chain Macy’s will close 150 stores over the next three years, with 66 closures anticipated in 2025 alone. The highest number of store closures resulted from discount and dollar stores like Family Dollar, CVS Health and Big Lots, as well as specialty retailers like Party City. Retail closures are represented across different size brackets, with more than 55 percent of announced closures identifying with footprints ranging from 5,000 square feet to 20,000 square feet. Expanding retailers such as Dollar General, O’Reilly Automotive and Five Below align with these vacant boxes, while larger, major closures like Bed Bath & Beyond and Toys “R” Us occupy more “desirable” locations. On the flip side, between 2024 and 2025, there were roughly 7,700 new retail store openings announced. Nearly 3,000 of these openings …
TYLER, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 26,848-square-foot retail building in Tyler, located about 100 miles east of Dallas, that houses a showroom and dealership for tractor manufacturer John Deere. The building sits on a 9.2-acre site at 4630 State Highway 155. Bryan Meyer and Adam Gottschalk of STRIVE represented the Texas-based seller in the transaction and procured the Tennessee-based buyer. Both parties requested anonymity.
JACKSONVILLE, FLA. — Tampa-based Franklin Street has arranged the sale of a six-property shopping center portfolio in Jacksonville for $86.3 million. Curbline Properties Corp. (CURB), a publicly traded firm and a former spinoff of SITE Centers Corp., was the buyer. The deal marks CURB’s largest acquisition to date. The portfolio totals 184,680 square feet and includes Carrie Plaza, Deerwood Station, Julington Square, Southlake Plaza, Roosevelt Plaza and Oakleaf Crossing. Bryan Belk and John Tennant of Franklin Street represented the seller, a local private investor, in the transaction.
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