NAPA, CALIF. — CBRE has arranged $57.6 million in refinancing for First Street Napa, a Class A mixed-use property in downtown Napa. Brad Zampa and Mike Walker of CBRE’s Debt and Structured Finance team in San Francisco secured the five-year, nonrecourse floating-rate loan from an East Coast-based debt fund on behalf of NTC Shops LLC. Located at 1300 First St., the property features 162,000 square feet of retail, dining, tasting rooms and office space across six buildings. The asset is currently 90 percent leased to a variety of tenants, including Lululemon, Free People, Hestan and Silicon Valley Bank.
The Washington, D.C., commercial real estate market is intricate, shaped by broad economic trends and local dynamics. The recent federal government shutdown underscored ongoing challenges, intensifying uncertainty and slowing local transactions. Continued ambiguity around trade and tariff policies further complicates business planning, adding to the region’s cautious dealmaking environment. Anxiety affects the region’s key economic source: federal workers and contractors, who make up 40 percent of its economy. Since January 2025, federal job losses here have outpaced the national average, increasing the risk of a local slowdown. Despite the area’s wealth, ongoing job uncertainty should guide all investment and operational choices. The interplay between federal employment trends and local business activity means that investors and operators must remain vigilant, adapting strategies to respond to shifting workforce dynamics and consumer sentiment. Tale of two marketsThe D.C. retail market is split: downtown faces challenges due to office vacancies and low weekday traffic, while suburban and residential-heavy urban areas are thriving. Affluent spots in Northern Virginia and Suburban Maryland have the lowest vacancy rates thanks to stable local shoppers. These areas benefit from consistent foot traffic and resilient spending patterns, which help insulate them from broader economic volatility. From a capital markets perspective, …
PASADENA, CALIF. — Perform Properties has signed six new leases at One Colorado, a 240,000-square-foot urban lifestyle center in Pasadena. Contemporary Mexican restaurant Javier’s and New York-based fashion brand rag & bone are already open at the property. The recent openings coincided with the debut of the redesigned courtyard, which features a series of outdoor “rooms.” Meanwhile, various concepts such as Sundays, Monarch Athletic Club, Sockerbit and Thaim will launch in 2026. Additional tenants at One Colorado include The Cheesecake Factory, Anthropologie, Alo Yoga, The Container Store, Sephora and Vuori.
TAMPA, FLA. — Strategic Property Partners (SPP) has announced plans to develop an entertainment district in downtown Tampa. The district is proposed for a vacant parcel across from Benchmark International Arena, the 19,092-seat home of the NHL’s Tampa Bay Lightning. Situated on Channelside Drive between Morgan and Jefferson streets, the new district will support the broader $3 billion Water Street Tampa neighborhood. SPP plans to partner with Lightning owner Vinik Sports Group (VSG) to manage the entertainment venue, which will be privately financed. “Water Street Tampa was designed to evolve, and this entertainment district is the next step in completing the larger vision,” says Josh Taube, CEO of SPP. “Water Street Tampa is a dynamic neighborhood with waterfront, public spaces, residences, retail, hotels and offices all connected through a walkable experience. This project activates the western edge of the neighborhood by adding an entertainment energy through live music and cultural experiences, strengthening ‘WST’ as a preeminent destination.” Upon full build-out, Tampa’s new entertainment district will include a 3,500-seat music and performance venue for rising and mid-tier touring artists; a 250-room hotel; and 100,000 square feet of retail, dining and entertainment space. SPP aims to break ground on the project in …
LANCASTER, CALIF. — Hanley Investment Group Real Estate Advisors has directed the sale of a multi-tenant retail property located adjacent to Smart & Final Extra! at Antelope Valley Plaza in Lancaster. PacWest Management sold the property to an Orange County, Calif.-based private investor for $3.9 million. Ayda Kach and Sean Cox of Hanley Investment Group represented the seller, while Samer Khalil of Newmark represented the buyer in the deal. Located at 2062-2072 W. Ave. J, the 8,119-square-foot property is fully leased to a variety of tenants, including Pho Shop, Sub-Machine, Boba Tea, Salvadorian Restaurant, La Ramadita and The Best Ceviche. Antelope Valley Plaza offers 127,000 square feet of retail space.
SHELBY TOWNSHIP, MICH. — Hungry Habibi has signed a 1,228-square-foot lease to open at The Shops at Nottinghill Village in Shelby Township. The lease marks the fast-casual Mediterranean restaurant’s third location in Michigan. Michael Murphy of Gerdom Realty & Investment represented the landlord, Beztak Properties. Zoran Saveski of Esoteric Realty represented the tenant.
SAN BERNARDINO, CALIF. — SRS Real Estate Partners has arranged the sale of a single-tenant restaurant property located at 4268 N. Varsity Ave. in San Bernardino. A California-based investor acquired the property from Paragon Commercial Group for $6.8 million, or $1,404 per square foot. Panera Bread occupies the 3,986-square-foot property, which was built in 2024, on a 15-year absolute triple-net lease basis. Patrick Luther and Matthew Mousavi of SRS Capital Markets represented the seller in the deal. SRS’ Nick Wirick is handling leasing for the property. This is the second parcel of a break-up strategy SRS has executed on behalf of Paragon Commercial Group — the first being the sale of a Dutch Bros Coffee property that was sold in July 2025 for $2.8 million. In total, the value of the sold assets is $9.6 million.
COLLEGE STATION, TEXAS — College Station-based Layne’s Chicken Fingers has signed a franchise agreement to open 44 new units across Texas. Developer Eli Cohen will operate the restaurants. As part of the agreement, Cohen’s team plans to open multiple new Layne’s locations in Lubbock, with two sites already confirmed. In addition to the deal with Cohen, Layne’s has also executed a 12-unit deal with a Wendy’s operator in the Rio Grande Valley; an eight-unit deal with a former water bottling entrepreneur in West Central Texas; and a four-unit agreement with a hospitality professional in South Fort Worth. Layne’s has also recently opened new restaurants in Mission Bend, Tyler and Nacogdoches, with five additional locations expected to open across Texas before the end of the year.
TORRANCE, CALIF. — CB Arcadia Partners, an affiliate of Calbay Development, has completed the disposition of a freestanding retail property located at 23865 Hawthorne Blvd. in Torrance, to Madrona F&F LLC for $8.2 million. Starbucks Coffee occupies the 2,400-square-foot property, which was delivered in 2025, on a long-term, triple-net lease. The property features a drive-thru that can accommodate 20 vehicles, plus a full-size café format with indoor and outdoor seating. Alex Kozakov and Patrick Wade of CBRE represented the seller in the deal.
JOLIET, ILL. — Chipotle Mexican Grill has opened at Rock Run Collection in Joliet. The new restaurant features a Chipotlane drive-thru pickup lane for digital orders. The location is expected to bring approximately 30 new jobs to the Joliet area. Chipotle joins the now-open Hollywood Casino Joliet and The View at Rock Run Collection, upscale apartments that are currently leasing. Future tenants will include Drury Hotel, Chick-fil-A and Ricky Rockets. Cullinan Properties is the developer of Rock Run Collection, a mixed-use project spanning more than 300 acres at the intersection of I-55 and I-80.
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