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1374-Harbor-Blvd-Fullerton-CA
AcquisitionsCaliforniaRetailWestern

Space Investment Partners Buys Grocery-Anchored Shopping Center in Fullerton, California for $118.5M

by Amy Works

FULLERTON, CALIF. — Space Investment Partner has acquired Fullerton Metrocenter, a grocery-anchored retail center in Fullerton, from Kite Realty for $118.5 million. Located at 1375 Harbor Blvd., Fullerton Metrocenter offers 385,703 square feet of retail space occupied by more than 40 national and local retail tenants, including Sprouts Farmers Market, Target, Urban Air Adventure Park and PetSmart. The property was built in 1988 and renovated in 2002. At the time of sale, the property was 97 percent occupied.
Christopher Hoffmann, Mark Damiani and Chase Levra of Eastdil Secured represented the seller in the transaction. Eastdil also arranged acquisition financing on behalf of the buyer. Greg Stampley and Jessica Henning of Eastdil Secured led the debt process.

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AcquisitionsRetailSoutheastVirginia

Lucky Strike Entertainment Buys 58 Existing Bowling Alleys for $306M

by John Nelson

RICHMOND, VA. — Richmond-based Lucky Strike Entertainment, operator of bowling alleys and entertainment venues that formerly operated as Bowlero, has purchased 58 of its existing locations for $306 million. The deal aims to reduce annual rent obligations, while eliminating the risk of future lease inflation, say company representatives. Lucky Strike will continue to operate each of the locations after the deal closes. The transaction was financed through a $230 million bridge facility under Lucky Strike’s revolving credit line, as well as cash on hand. Spanning 16 states, the 58-property portfolio includes locations in California, Illinois, Georgia, Arizona and Colorado, as well as 11 other states.

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AcquisitionsGeorgiaOfficeSoutheast

Third & Urban Acquires Georgia 400 Center Office Campus in Alpharetta Totaling 430,046 SF

by John Nelson

ALPHARETTA, GA. — Third & Urban has acquired Georgia 400 Center, a three-building office campus in Alpharetta, a northern suburb of Atlanta. The 430,046-square-foot office park is situated on 24 acres at the interchange of Ga. Highway 400 and Haynes Bridge Road. The seller and sales price were not disclosed. Jay O’Meara, Ryan Reethoff and Justin Parsonnet at Newmark represented the seller in the transaction. Third & Urban purchased the office campus in partnership with Zalik Investment Group. The new ownership is retaining Stephen Clifton, Zach Wooten and Payton Maxheimer of Cushman & Wakefield as the property’s leasing team. The locally based buyer, which is known as a developer of infill mixed-use destinations, plans to modernize the office campus with value-add improvements, including new roofs, lobby renovations and an elevated amenity lounge with a bar, conference center and recreational games. Georgia 400 Center was 67 percent leased at the time of sale to tenants including Morgan Stanley, Century Communities of Georgia and Toll Brothers. Trinity Partners will manage the office campus on behalf of the new ownership.

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DevelopmentIndustrialSoutheastTennessee

Brennan Breaks Ground on Two Metro Nashville Distribution Centers Totaling 351,200 SF

by John Nelson

LA VERGNE, TENN. — Brennan Investment Group has broken ground on two distribution centers in La Vergne, a city in Nashville’s Southeast industrial submarket. Brennan plans to deliver the two Class A properties, which will total 351,200 square feet, in second-quarter 2026. The facilities will be located on a 29-acre site that is within five miles of I-24 and within 10 miles of Nashville International Airport. Chicago-based Brennan will build 167,200- and 184,000-square-foot, rear-load industrial buildings, each designed to accommodate up to four tenants with ample trailer and employee parking, 32-foot clear heights and ESFR sprinkler systems.

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AcquisitionsGeorgiaRetailSoutheast

Legacy Realty Arranges Sale of 174,459 SF Shopping Center in Columbus, Georgia

by John Nelson

COLUMBUS, GA. — Legacy Realty Group has arranged the sale of Manchester Square, a 174,459-square-foot shopping center in Columbus. Situated at the intersection of Woodruff Farm and Milgen roads, Food Depot anchors the property. Other tenants include Ollie’s Bargain Hunt, O’Reilly Auto Parts, Planet Fitness, Subway, T-Mobile, H&R Block, Unlimited Wireless, Peluso’s Italian Restaurant and Rainbow Fashions. Built in 1988, the property sits on 22 acres. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy Realty Group Advisors represented both the buyer and seller, Arkansas-based CORE Equity Partners, in the transaction. The sales price was not disclosed.

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DevelopmentLeasing ActivityRetailSoutheastVirginia

Whole Foods to Open 46,711 SF Store in Reston, Virginia

by John Nelson

RESTON, VA. — Whole Foods Market plans to open a new 46,711-square-foot grocery store at 1861 Fountain Drive in Reston on Wednesday, Aug. 6. The new store will be adjacent to Reston Town Center and is a relocation of an existing Whole Foods store at 11660 Plaza America Drive, which has served the Reston community since 1996. The new store is nearly double the square footage of the original store and will feature expanded café seating and a full-service coffee bar, among other departments. The new Whole Foods is backfilling a former Best Buy store that closed in 2020 within Spectrum at Reston Town Center, according to FFX Now. Lerner Enterprises owns and manages the 270,000-square-foot shopping center, whose tenants include Harris Teeter, The Container Store, Barnes & Noble and Cava.

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Colonial-Village-Katy
Build-to-RentDevelopmentLoansSingle-Family RentalTexas

Concord Summit Arranges $25.5M Construction Loan for Metro Houston Build-to-Rent Project

by Taylor Williams

KATY, TEXAS — Concord Summit Capital, a South Florida-based financial intermediary, has arranged a $25.5 million construction loan for Colonial Village, a 103-unit build-to-rent residential project that will be located in the western Houston suburb of Katy. The development will consist of 88 two-bedroom and 15 three-bedroom duplex-style homes on a 7.9-acre site. Daniel Eidson and Ben Applebaum of Concord Summit Capital arranged the debt, which carries an 88 percent loan-to-cost ratio, on behalf of the borrower, Luminous Homes. The direct lender was not disclosed.

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AcquisitionsIndustrialTexas

Ameritex Machine & Fabrication Buys 145,222 SF Industrial Building in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — Ameritex Machine & Fabrication has purchased a 145,222-square-foot industrial building in Conroe, about 40 miles north of Houston. According to LoopNet Inc., the property at 915 Conroe Park W. Drive was built on 18 acres in 2020 and features 39-foot clear heights and 19 dock-high doors. Garret Geaccone of Stream Realty Partners represented the seller, TradeLane Properties LLC, in the transaction. Tim O’Neil of TSO Properties represented the buyer.

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AcquisitionsDevelopmentIndustrialSelf-StorageTexas

HSM Negotiates Sale of 3.4-Acre Self-Storage Development Site in Lancaster, Texas

by Taylor Williams

LANCASTER, TEXAS — Henry S. Miller Brokerage (HSM) has negotiated the sale of a 3.4-acre self-storage development site in the southern Dallas suburb of Lancaster. The buyer, national self-storage owner-operator SAFStor Inc., plans to develop a four-story, climate-controlled facility at the site at 1032 Cedar Valley Drive. Huntley Luna and Nick Robinson of HSM internally represented the seller, HSM Equity Partners, in the transaction.

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AcquisitionsIndustrialTexas

Colliers Brokers Sale of 38,706 SF Industrial Complex in Northwest Houston

by Taylor Williams

HOUSTON — Colliers has brokered the sale of Milwee Business Park, a 38,706-square-foot industrial complex in northwest Houston. The two-building property was 91 percent leased at the time of sale. Todd Moore, Connor Duffy and Zack Martin of Colliers represented the seller, Wolf Capital Partners, in the transaction. Houston-based investment firm Griffin Partners purchased the asset for an undisclosed price.

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