IRVING, TEXAS — Marcus & Millichap has brokered the sale of Market Square, a 46,822-square-foot retail center in Irving’s Las Colinas district. Market Square was built in 1984 and houses a mix of service-oriented tenants under triple-net agreements. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
ANNAPOLIS, MD. — MCB Real Estate has purchased an ownership interest in Annapolis Plaza, a 165,565-square-foot shopping center located at 150 Jennifer Road in Annapolis. An unnamed institutional partner of MCB will retain an ownership interest in the retail property, while MCB will oversee leasing strategy, asset management and property management at the center. The seller and sales price were not disclosed, as well as the percentage of the ownership stake. Annapolis Plaza’s tenant roster includes Trader Joe’s, Homesense, HomeGoods and Marshalls. World Market plans to open a new 16,818-square-foot store at the shopping center soon, according to Baltimore Business Journal.
ROSEMEAD, CALIF. — Walker & Dunlop has arranged a $46 million loan for refinancing for a retail center in the Southern California city of Rosemead. Trevor Fase and Lynn Pearson of Walker & Dunlop Capital Markets Real Estate Finance team secured the fixed-rate, interest-only permanent debt loan. Joel Minugh and James Ko of Wells Fargo provided the loan for the borrower, a family office. Located on Rosemead Boulevard, Rosemead Place features 336,718 square feet of retail space. Current tenants include Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty and Dollar Tree.
— By Hillary Steinberg of Avison Young — The Las Vegas retail market delivered a mixed but resilient performance in 2025, with vacancy remaining tight and demand holding steady. Vacancy closed the year at 5.6 percent with nearly 5.6 million square feet of available space. While these fundamentals reflect a healthy market, rent growth softened, increasing by just 2.4 percent year over year. At the same time, development activity remains robust, with roughly 880,000 square feet of retail space currently under construction. New projects continue to emphasize mixed-use and experiential concepts, positioning the market to capture sidelined capital and evolving consumer demand in the year ahead. Vacancy held steady at 5.6 percent in fourth-quarter 2025, supported by sustained population growth, a continued rebound in tourism and stable consumer spending. This momentum is being reinforced by Las Vegas’ economic diversification, which continues to fuel expansion across food, wellness and entertainment retail segments. Although rent growth has moderated from its 2022 peak, leasing fundamentals remain strong. Limited availability continues to favor landlords, who are maintaining pricing power and offering minimal concessions. However, rising construction and tenant improvement costs are placing upward pressure on deal economics. With inventory across Las Vegas, North Las …
For much of the past several years, commercial real estate investors have navigated a market defined by uncertainty. Interest rate volatility, inflation concerns, geopolitical tensions and shifting workplace trends have all contributed to an environment where predicting the next move can feel increasingly difficult. Against that backdrop, the Midwest continues to stand out for a different reason: stability. Across many Midwest markets, commercial real estate fundamentals have remained relatively balanced compared with other regions of the country. While some markets have experienced dramatic swings in pricing, development activity and occupancy levels, much of the Midwest has maintained a steadier trajectory. That consistency allows investors and operators to focus on executing long-term business plans rather than constantly reacting to market volatility. Stability Remains the Midwest’s Competitive Advantage One of the region’s greatest strengths is the balance between supply and demand. Unlike certain Sun Belt markets that have experienced significant waves of new development, many Midwest metros have avoided substantial oversupply. As a result, property owners have been able to continue implementing value-add strategies, improving operations and generating steady rent growth. Commercial real estate success is rarely built overnight. In many Midwest markets, returns are generated through disciplined management, operational efficiencies and …
SAN MARCOS, TEXAS — Marcus & Millichap has brokered the sale of Centerpoint Plaza, a 13,611-square-foot retail strip center in San Marcos, located roughly midway between Austin and San Antonio. The center was fully leased at the time of sale, with a freestanding Starbucks serving as the anchor tenant. Coleman Solomon, Joseph Blanga and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction.
FRANKLIN, TENN. — CBL Properties, a publicly traded mall REIT based in Chattanooga, Tenn., has sold a 5.4-acre parcel at CoolSprings Galleria, a nearly 1.2 million-square-foot regional shopping mall in metro Nashville. The buyer, Charleston-based Greystar, plans to develop a Class A, 351-unit apartment community with 15,000 square feet of ground-floor retail space on the site, which was previously an underutilized parking lot. Greystar plans to break ground immediately and deliver the community in approximately two years. Built in 1991, CoolSprings Galleria is located at 1800 Galleria Blvd. in Franklin, about 15 miles south of downtown Nashville. According to CBL, the mall has 150 total stores, including department stores Belk, Dillard’s, JCPenney, Macy’s and Primark. Other stores include Apple, Barnes & Noble, Chili’s, Duluth Trading Co., H&M, Hot Topic, LEGO, L.L. Bean (soon to open), Spencer’s, Taco Bell, Target and Urban Air Adventure Park.
PORT CHARLOTTE, FLA. — JLL has brokered the $23.5 million sale of Promenades Port Charlotte, a grocery-anchored shopping center located at 3280 Tamiami Trail in Port Charlotte. The 1970s-era property was completely renovated in 2024 and its Winn-Dixie anchor was recently rebranded to Aldi. Promenades Port Charlotte was 79.5 percent leased at the time of sale to tenants including Bealls Outlet, HCA Florida Fawcett Hospital and YouFit Gym. Danny Finkle, Jorge Portela, Kim Flores and Jacob Wise of JLL represented the undisclosed seller in the transaction. Kenny Cutler and Paul Adams, also with JLL, arranged an $18.4 million acquisition loan through Intercredit Bank for the buyer, Corinthian Capital LLC.
SAN ANTONIO — CBRE has arranged an undisclosed amount of acquisition financing for The Legacy, a 353,000-square-foot retail property in San Antonio. Built on 32 acres in 2006, The Legacy is home to tenants such as Main Event Entertainment, Best Buy and Buffalo Wild Wings. John Fenoglio and Brock Hudson of CBRE arranged the financing on behalf of the owner, a partnership between San Diego-based Rio Capital Investments and Triangle Capital Group. The direct lender was not disclosed. Barry Brown, Whitney Snell and Shea Petrick of JLL represented the seller, Santikos Real Estate Services, in the disposition.
STERLING HEIGHTS, MICH. — Gov. Gretchen Whitmer and the Michigan Strategic Fund Board have approved a $270.7 million Transformational Brownfield Plan (TBP) to support the redevelopment of the former Lakeside Mall site in Sterling Heights. The proposed plan includes roughly 1,545 residential units across nine multifamily buildings ranging in size from four to five stories, including a building targeted at residents over 55 years of age. Additionally, the project will add 154,007 square feet of new retail space, a central community park and green space and a mix of parking lots and street parking for residents and visitors. When complete, the project is estimated to result in $621 million in total capital investment. Aside from participating in tax revenue capture to support the redevelopment plan, the City of Sterling Heights intends to proceed with a bond issuance of approximately $27.6 million to assist in the cost of the infrastructure. The total TBP incentive package will be reimbursed over 30 years. The developer, Lakeside OOTB Ventures LLC, is a subsidiary of Lionheart Capital. Lakeside Mall closed in July 2024.
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