Property Type

Cushman & Wakefield | Thalhimer Brokers $7.3M Sale of Satterfield Landing Shopping Center in Outer Banks

by John Nelson May 5, 2025

NAGS HEAD, N.C. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has brokered the $7.3 million sale of Satterfield Landing Shopping Center, a 49,897-square-foot shopping center located in North Carolina’s Outer Banks region. Situated at South Croatan Highway at West Satterfield Landing Road in Nags Head, the center sits on 6.2 acres and is fully leased to T.J. Maxx, Staples and OBX Martial Arts. Clark Simpson and Erik Conradi of Thalhimer’s Virginia Beach office represented the seller, an entity doing business as Satterfield Landing LLC, in the transaction. The Overland Group was the buyer.

May 5, 2025

Leasing Activity Retail Texas

Sprouts Farmers Market to Open 23,434 SF Store in New Braunfels, Texas

by Taylor Williams May 5, 2025

NEW BRAUNFELS, TEXAS — Sprouts Farmers Market will open a 23,434-square-foot store in New Braunfels, a northeastern suburb of San Antonio. The space is located within Creekside Town Center, a 400-acre mixed-use development by Houston-based NewQuest. The store will be among the first in the region for the Phoenix-based grocer. Construction is underway, and the opening is slated for the first quarter of next year.

May 5, 2025

Affordable Housing District of Columbia Loans Multifamily Southeast

Colliers Mortgage Arranges $5.7M HUD-Insured Loan for Refinancing of Stanton Park Apartments in D.C.

by John Nelson May 5, 2025

WASHINGTON, D.C. — Colliers Mortgage has arranged a $5.7 million HUD-insured loan to refinance Stanton Park Apartments, a 62-unit affordable housing community located in Washington, D.C. As part of the refinance, the Non-Profit Community Development Corp. of Washington, D.C. (NPCDC) has obtained an extension for its use restriction to preserve its affordable housing options while operating under the Low-Income Housing Tax Credit (LIHTC) program. The HUD loan features a 35-year term and amortization schedule. Stanton Park Apartments comprises three one-bedroom units, 42 two-bedroom units and 17 three-bedroom units. Laundry facilities are located in each building, while disabled-accessible units contain an in-unit washer/dryer. Additional amenities at the property include barbecue and picnic areas and onsite parking.

May 5, 2025

Development Louisiana Retail Southeast

Kia of Covington Opens New Car Dealership in Louisiana

by John Nelson May 5, 2025

COVINGTON, LA. — Kia of Covington has opened a new dealership located at 69010 Highway 190 at I-12 in Covington, a city in Louisiana’s Northshore region in St. Tammany Parish. The dealership includes a spacious showroom, parts and service center and the opportunity for buyers to test drive new 2025 Kia models. Jason Reibert and Mike Saucier of Gulf States Real Estate & Construction Services led and managed Greenleaf Architects and High Tide Consultants throughout the project on behalf of Kevin Szura, president of Kia of Covington. Gulf States also helped with the site selection process for the new dealership. Kia of Convington plans to host a grand opening celebration for the general public in mid-May.

May 5, 2025

Arizona Development Hospitality Mixed-Use Multifamily Restaurant Retail Western

Thompson Thrift Breaks Ground on $225M Mixed-Use Development in Gilbert, Arizona

by Amy Works May 5, 2025

GILBERT, ARIZ. — Thompson Thrift has broken ground on The Gilmore, a $225 million mixed-use development located in the Phoenix suburb of Gilbert. The 35-acre project will comprise approximately 200,000 square feet of grocery, restaurant and retail space, 300 luxury apartment homes and a hotel. The development will feature a main street-style entrance with covered walkways, common areas, murals by local artists and landscaped outdoor gathering spaces. More than 25 retail leases have already been signed, including Better Buzz Coffee; Handel’s Ice Cream; Jersey Mike’s; Sweathouz; Rebel Wine Lounge; Square 1 Food Hall; Nook Kitchen; Phantom Fox Brewery; Level 1 Arcade Bar; Woof Gang Bakery & Grooming; Over Easy; and a 64,000-square-foot Safeway. Retailers are expected to begin opening in late 2026, while the first resident move-ins are planned for early 2027.

May 5, 2025

Acquisitions Arizona Lee & Associates Retail Western

Desert Troon Divests of Superstition Gateway Shopping Center in Mesa, Arizona for $121M

by Amy Works May 5, 2025

MESA, ARIZ. — Desert Troon Cos. (DT-SGE LLC and DT-SGW LLC) has completed the disposition of Superstition Gateway Shopping Center to an undisclosed Southern California-based family office for $121 million, or $244 per square foot. Jan Fincham, Mike Sutton and Brent Moser of Lee & Associates Arizona represented the seller in the off-market transaction. The seller was part of the original development partnership that built the shopping center almost 20 years ago. Situated on 65.7 acres at the southwest corner of US-60 and Signal Butte Road, Superstition Gateway offers 495,000 square feet of retail space, totaling 19 individual parcels. Current tenants at the 90 percent-occupied center include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress for Less, Marshalls, Five Below, PetSmart, Panera Bread, KFC, In-N-Out Burger and Chili’s. The asset was constructed in 2006 and 2012.

May 5, 2025

California Development Industrial Western

C2 Building Group Completes 380,000 SF Manufacturing Facility for GKN Aerospace in El Cajon, California

by Amy Works May 5, 2025

EL CAJON, CALIF. — Construction is complete for Gillespie Field iPark, a build-to-suit manufacturing facility for GKN Aerospace and distribution speculative suite near Gillespie Field public airport in El Cajon. The project’s development team includes Ware Malcomb as architect, interior designer and civil engineer; Chestnut Properties as developer; C2 Building Group as general contractor; Prime Engineering as structural engineer; Ridge Landscaping as landscape architect; and NV5 as utility consultant. GKN Aerospace is a global tier-one suppler of aftermath repairs, airframe and engine structures, landing gear, electrical interconnection systems and transparencies. The 380,000-square-foot facility features a two-story lobby, mezzanine, conference rooms, break areas, technical labs and climate-conditioned manufacturing warehouse.

May 5, 2025

Acquisitions California Retail Western

SRS, Hanley Investment Group Broker $4.7M Sale of Plumas Bank-Occupied Retail Property in Susanville, California

by Amy Works May 5, 2025

SUSANVILLE, CALIF. — SRS Real Estate Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of a retail property located at 3000 Riverside Drive in Susanville. A private investment group sold the asset to a San Diego-based private investor for $4.7 million. Plumas Bank occupies the 5,440-square-foot property under a new 15-year, absolute, corporate-guaranteed triple-net lease. Situated on 1.1 acres, the property was renovated in 2021. Alexander Moore of SRS Capital Markets and Jeff Lefko of Hanley Investment Group represented the seller in the transaction.

May 5, 2025

Development Multifamily New York Northeast

BRP Cos. Begins Leasing 614-Unit Mixed-Income Multifamily Development in Queens

by Taylor Williams May 5, 2025

NEW YORK CITY — Locally based owner-operator BRP Cos. has begun leasing Ruby Square, a 614-unit mixed-income multifamily development in the Jamaica area of Queens. Ruby Square features a mix of studios (seven), one-bedroom units (454) and two-bedroom apartments (153). About a third (185) of the units are affordable for residents earning between 80 and 130 percent of the area median income. The property also offers 50,000 square feet of amenity space across a two-level private park, multiple rooftop lounges, a fitness center, coworking spaces, multiple resident lounges, an indoor basketball court, children’s playroom, pet grooming facilities and a 24/7 attended lobby. The first move-ins are now underway. Market-rate rents start at about $2,800 per month.

May 5, 2025

7245-Henry-Clay-Blvd.-Liverpool-New-York

Acquisitions Industrial New York Northeast

Friedman Real Estate Arranges Sale of 583,851 SF Industrial Property in Liverpool, New York

by Taylor Williams May 5, 2025

LIVERPOOL, N.Y. — Michigan-based brokerage firm Friedman Real Estate has arranged the sale of a 583,851-square-foot industrial property in Liverpool, located just outside of Syracuse. The property at 7245 Henry Clay Blvd. previously housed a distribution facility for convenience and drugstore chain Rite Aid. According to LoopNet Inc., the property was built on 58 acres in 1978 and features a clear height of 24 feet, 35 exterior dock doors, five drive-in bays and 300 standard parking spaces. The buyer, seller and sales price were not disclosed.

May 5, 2025

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