Retail

Newmark Arranges $113.5M Sale of Two Boston Retail Properties

by Taylor Williams April 28, 2026

BOSTON — Newmark has arranged the $113.5 million sale of two retail properties in Boston’s Back Bay neighborhood. The properties are located at 4-6 and 28 Newbury St. and were custom-designed to house flagship stores of luxury retailers Chanel and Cartier, respectively. The Chanel store spans 10,328 square feet across two stories, and the Cartier store totals 18,942 square feet. Robert Griffin, Geoffrey Millerd and Paul Penman of Newmark represented the seller, ASG Equities, in the transaction. The team also procured the buyer, a joint venture between Acadia Realty Trust and Osiris Ventures. Alex Foshay, Victoria Radman, Casey O’Brien and Christian Reenstierna, also with Newmark, provided support on the deal.

April 28, 2026

Acquisitions California Retail Western

Mahoney & Associates Arranges $37.5M Sale of Carmel Rancho Shopping Center in California

by Amy Works April 28, 2026

CARMEL-BY-THE-SEA, CALIF. — Mahoney & Associates has arranged the sale of Carmel Rancho Shopping Center, a retail center in Carmel-by-the-Sea. Montage Health acquired the asset for $37.5 million. Situated on a 295,335-square-foot land parcel, Carmel Rancho Shopping Center offers 77,002 square feet of retail space. Ryan Edwards, Josh Jones and Patrick Stafford of Mahoney & Associates represented the buyer and the undisclosed seller in the deal.

April 28, 2026

Acquisitions Midwest Minnesota Retail

Cushman & Wakefield Brokers $27.7M Sale of Shopping Center in Suburban Minneapolis

by Kristin Harlow April 28, 2026

EDEN PRAIRIE, MINN. — Cushman & Wakefield has brokered the $27.7 million sale of Prairieview Center, a 113,601-square-foot shopping center in Eden Prairie anchored by grocer Lunds & Byerlys. Evan Halkias, David Matheis and Zander Fried of Cushman & Wakefield represented the seller, United Properties. Phillips Edison & Co. Inc. was the buyer. Prairieview Center was built in 1986 and renovated in 2018. Additional tenants include Chase Bank, Culver’s and Starbucks.

April 28, 2026

Development Illinois Midwest Retail

Nicholas & Associates, Wingspan Open Retail Stores at The VUE Mixed-Use Project in Metro Chicago

by Kristin Harlow April 28, 2026

ELK GROVE VILLAGE, ILL. — Nicholas & Associates and Wingspan Development Group of the Nicholas Family of Cos. have opened the initial commercial phase of The VUE, a 10-acre mixed-use development in Elk Grove Village. The retail spaces are home to Tensuke Market and Food Court, 7 Mile Cycles, Jarosch Bakery and Vini’s Pizza. Plans for The VUE include a 271-unit apartment community, 16 rental townhomes, a multi-story clubhouse with a pool and other amenities for residents and 52,000 square feet of retail space. A newly constructed and nearly completed pedestrian overpass will connect the development with the 3,500-acre Ned Brown Forest Preserve.

April 28, 2026

Acquisitions California Mixed-Use Restaurant Retail Top Stories Western

Jamestown Sells Historic Ghirardelli Square Shopping Center in San Francisco

by John Nelson April 28, 2026

SAN FRANCISCO — Jamestown LP, a mixed-use developer and operator based in Atlanta, has sold Ghirardelli Square, a historic waterfront shopping center located at 900 N. Point St. in San Francisco’s Fisherman’s Wharf District. The property comprises 12 interconnected brick buildings fronting San Francisco Bay and includes the namesake 19-foot illuminated Ghirardelli sign and that has been part of the city’s skyline since 1915. Miami-based investment firm Embrace Real Estate and its affiliate asset management company 1823 Partners purchased Ghirardelli Square from Jamestown for an undisclosed price. The new ownership has selected Denver-based Continuum Partners to manage the day-to-day operations and future business plan for the historic property. Ghirardelli Square’s origins date back to 1862 when it served as the world headquarters and primary chocolate factory for Ghirardelli Chocolate Co., which still keeps a flagship store at the development. The property is listed on the National Register of Historic Places. Ghirardelli Square reopened in the early 1960s with various shops and restaurants, making the development one of the first major adaptive reuse projects in the United States. Today, Ghirardelli Square welcomes 9 million visitors annually. The project spans a little more than 100,000 square feet of shops and restaurants, as well …

April 28, 2026

Market Reports Retail Texas Texas Market Reports

How Service Retail Is Stabilizing Houston’s Shopping Centers

by Taylor Williams April 28, 2026

By Jason Baker, principal at Baker Katz If you’re only following the national headlines, retail real estate can seem like it’s still defined by store closures and disruption. That’s still part of the story, but on the ground in Houston, the picture is more balanced. Fundamentals remain strong and occupancy remains high across the market. Even as new projects reach completion and new space comes on line, demand continues to keep pace. When space becomes available, it doesn’t sit for long — often with multiple deals competing for a single vacancy. What’s changing is what types of retailers are taking the space. That shift is just as important as the strength of the market. Service-oriented retail, in particular, is emerging as a stabilizing force in Houston. From Goods to Services According to recent data compiled by CoStar Group and analyzed by The Wall Street Journal, for the first time, service-oriented tenants now occupy more retail space nationally than traditional goods-based retailers. In Houston, that trend is clear in leasing activity. A significant share of the leasing activity today is driven by service categories such as health and wellness, medical, med spas, fitness, beauty and pet care. These are the tenants …

April 28, 2026

Features Retail

Inside the Shifting World of Retail Construction

by Abby Cox April 28, 2026

Let’s get down to brass tacks: there’s not a lot of new retail space being built. What is getting developed reflects a fundamental shift in how retail functions. At the same time, construction itself is becoming more strategic and tech enabled. Developers and contractors are leveraging data, artificial intelligence (AI) and flexible design approaches to better predict demand, reduce risk and adapt spaces for multiple tenants or uses over time. The result is a sector that is leaner, more intentional and increasingly focused on creating places people want to visit. The Big Picture: How the Market Has Changed Retail construction has shifted significantly from the pre-pandemic era to today, shaped by higher material costs, disrupted supply chains and evolving consumer demand. Before 2020, projects benefitted from relatively stable pricing, predictable timelines and a strong emphasis on in-person shopping environments. Since then, inflation and global supply chain volatiltiy have driven up the cost of key materials, while also extending lead times and forcing developers to plan more conservatively. Carolyn Shames, CEO and president of Shames Construction, shared an anecdote about two identical Walmarts that were built by her company — one before the COVID-19 pandemic and one after. The difference in price …

April 28, 2026

Acquisitions Retail Texas

JLL Negotiates Sale of 105,869 SF Shopping Center in Southeast Houston

by Taylor Williams April 27, 2026

HOUSTON — JLL has negotiated the sale of Fairmont Preston Plaza, a 105,869-square-foot shopping center in southeast Houston. Built in 1974 and renovated in 2016, Fairmont Preston Plaza was 89 percent leased at the time of sale. Planet Fitness and Cosmic Air anchor the center via a 26,000-square-foot gym and a 24,000-square-foot trampoline park, respectively. Other tenants include Dollar Tree and 7Brew Coffee. Ryan West, John Indelli, Zamar Salas and Max Myers of JLL represented the seller, Mission Shore Management, in the deal. Matt Moake with HighStreet Net Lease Group represented the buyer.

April 27, 2026

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $8.4M Sale of Retail Center in Metro Jacksonville

by Abby Cox April 27, 2026

MIDDLEBURG, FLA. — Marcus & Millichap has brokered the $8.4 million sale of a 17,400-square-foot retail center located in Middleburg, roughly 26 miles southwest of downtown Jacksonville. Situated at 1690 Jeremiah St. within the Clay Town Center mixed-use development, the retail property is fully leased to a mix of eight tenants including Mattress Warehouse, Firehouse Subs, Domino’s Pizza and Wingstop. The center was built in 2025 on approximately 3.2 acres. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a Delaware-based limited liability company, and procured the buyer, a New York-based limited liability company. Both parties requested anonymity. Ryan Nee was Marcus & Millichap’s broker of record in Florida.

April 27, 2026

Leasing Activity Retail Texas

EōS Fitness to Open 51,000 SF Gym in The Colony, Texas

by Taylor Williams April 27, 2026

THE COLONY, TEXAS — EōS Fitness will open a 51,000-square-foot gym in The Colony, a northern suburb of Dallas. The locally based operator will backfill reconfigured spaces previously occupied by Big Lots and Texas Family Fitness at The Colony Marketplace shopping center. Segovia Partners represented EōS Fitness in the lease negotiations. The locally based landlord, Harkinson Dewan, was self-represented.

April 27, 2026

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