THE WOODLANDS, TEXAS — Newman Commercial Real Estate has acquired Grogan’s Forest Center, a 7,100-square-foot retail strip center in The Woodlands, about 30 miles north of Houston. The center is home to tenants such as Komeya Sushi & Ramen, Great Clips, Prime Dental Care USA and Feng Cha. The deal traded off-market. The seller and sales price were not disclosed.
MIDDLETOWN, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged $75 million in financing for Orange Plaza, an 811,272-square-foot retail power center in Middletown, about 70 miles northwest of New York City. Orange Plaza was 94 percent leased at the time of sale to tenants such as Walmart, Home Depot, Kohl’s, Burlington, Ross Dress for Less, Marshalls, Staples and Old Navy. Brandon Szwalbenest, Andrew Stewart and Dev Morris of Cronheim arranged the financing through an undisclosed life insurance company on behalf of the borrower, National Realty & Development. The seven-year loan features a 30-year amortization schedule.
WILMINGTON, N.C. — CBRE has inked leases with five new retail tenants at Center Point, a mixed-use project under development in Wilmington. Totaling more than 13,000 square feet, the new leases will include Nest Interiors and Blended Shoes + Apparel — which will be merged into a shared space — as well as Burton’s Grill & Bar, Thompson’s of Wilmington and Jeff’s Bagel Run. These tenants mark the first retail commitments within Phase I of Center Point, which will feature approximately 33,000 square feet of retail space. A joint venture between Charleston-based The Beach Co. and locally based Swain & Associates is developing Center Point. Charlie Coyne and Matt Larson of CBRE represented ownership in the lease negotiations alongside internal leasing representative Sam Lathan of Swain & Associates. Upon completion, the mixed-use development will comprise more than 100,000 square feet of retail and restaurant space; The Sterling, a 265-unit residential complex; and office space. The property will be situated on more than 18 acres at the intersection of Eastwood and Military Cutoff roads near Mayfaire Town Center and Wrightsville Beach.
MARICOPA, ARIZ. — Legacy Development Partners has purchased a development site in Maricopa for a planned, ground-up retail center. Construction on the property is expected to begin immediately. Dubbed Legacy on Porter, the 6.6-acre project will deliver more than 45,000 square feet of retail, restaurant and service-oriented space. Confirmed tenants include Goodwill, Chipotle Mexican Grill, Jersey Mike’s Subs, HTeaO, Orlie’s Taproom and Swig. Leasing negotiations for the remaining shop space and pad sites are ongoing.
BLUE SPRINGS, MO. — A second phase of Blue Springs’ first luxury apartment community, MajorLux Luxury Apartments, is slated to include 123 units and 11,732 square feet of first-floor retail space anchored by Costenio’s Price Chopper. Bill Maas and Daniel Brocato of Block & Co. Inc. Realtors are handling leasing of the retail spaces. According to Block & Co., ideal uses at MajorLux Two include full-service restaurant concepts, Yoga or Pilates studios and service tenants such as dry cleaners, salons and health users. Completion of the project is slated for summer 2027.
BLOOMFIELD TOWNSHIP, MICH. — Patty & Press, a smash burger concept by G&B Hospitality, has signed a lease to open a new location at 42983 Woodward Ave. in Bloomfield Township. Norman Abro and Devon Campbell of Keystone Commercial Real Estate represented the tenant, which is taking over the former Zoup! space. The restaurant currently operates in Shelby Township and uses grass-fed beef and beef tallow frying.
SAN DIEGO — PSRS has secured $24 million in refinancing for a retail asset in San Diego. Located in the historic Gaslamp Quarter, the property offers 54,650 square feet of retail space. Tony Messiah of PSRS arranged the financing through one of the firm’s correspondent life insurance companies. The loan features a five-year term and a 25-year amortization.
LAS VEGAS — Marcus & Millichap has brokered the purchase of a two-tenant retail property in Las Vegas. Merra Cordier, a local entrepreneur and owner of The Purple Chandelier, acquired the asset from an ownership group that included former Nevada Lt. Gov. Lorraine Hunt Bono. Built in 1977, the former OfficeMax building is located at 4995 S. Eastern Ave. The Purple Chandelier, formerly Lynn’s World Consignment, and Bodega Furniture currently occupy the property. The new ownership intends to renovate and improve the facility while continuing retail operations on site. Candace Bare of Marcus & Millichap represented the buyer in the deal.
WEST KENDALL, FLA. — MMG Equity Partners is under contract to acquire a 5.1-acre site within Kendall Town Center, a 70-acre master-planned community in West Kendall. The project, called The Shops at Kendall Town Center, will feature 35,810 square feet of restaurants and shops and 4,321 square feet of outdoor terrace space. The developer has submitted plans to Miami-Dade County and is currently seeking administrative site plan approval. The site is located at the intersection of North Kendall Drive (SW 88th Street) and Southwest 158th Avenue. MMG has selected Ed Schmidt and Robert Eckstein of NAI Miami/Fort Lauderdale to lead leasing at The Shops at Kendall Town Center, with half of the space reserved for restaurant tenants.
HOUSTON — Local developer PAGEWOOD has broken ground on Phase I of East Blocks, an adaptive reuse project in Houston’s East Downtown neighborhood. Designed by Gensler and developed in partnership with Wile Interests, the project will transform a 10-block stretch of mid-20th century warehouses into a district of walkable restaurants, shops, offices and green spaces. Phase I involves the conversion of two 15,000-square-foot warehouses at 1107 Hutchins St. and 2202 Dallas St. Delivery of Phase I is slated for August.Phase I
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