Retail

Marcus & Millichap Brokers Sale of New Restaurant in Hixson, Tennessee Leased to Chick-fil-A

by John Nelson August 5, 2026

HIXSON, TENN. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built restaurant in Hixson, a northeast suburb of Chattanooga. Chick-fil-A occupies the property on a 15-year ground lease that features 10 percent rent increases in the initial term as well as extension options. Don McMinn and Andrew Koriwchak of Taylor McMinn represented the seller, a preferred developer for Chick-fil-A, in the transaction. RealSource Group and ParaSell Inc. represented the buyer, a high-net-worth individual based in Florida who is purchasing the restaurant all-cash in a 1031 exchange. The property sold for approximately $2.8 million. “This transaction achieved Tennessee’s lowest cap rate ever for a single-tenant Chick-fil-A, driven by its prime location, strong credit and low price point,” says McMinn.

August 5, 2026

Acquisitions California Retail Western

Faris Lee Investments Negotiates $5.3M Sale of Retail Strip Center in Fontana, California

by Amy Works August 5, 2026

FONTANA, CALIF. — Faris Lee Investments has negotiated the $5.3 million sale of a retail strip center in Fontana, located in Southern California’s San Bernardino County. Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments handled the transaction. The names of the buyer and seller were not released. Chipotle, Jersey Mike’s, Dragon Grill, KWIK Charge EV Charging Stations and Phantom Fireworks are tenants at the 4,872-square-foot property, which is positioned as a pad building in front of a WinCo Foods.

August 5, 2026

Acquisitions California Retail Western

Torrey Financial Group Sells Single-Tenant Retail Property in Bakersfield, California for $2.6M

by Amy Works August 5, 2026

BAKERSFIELD, CALIF. — San Diego-based Torrey Financial Group has sold a single-tenant retail property located at 1125 Olive Drive in Bakersfield to a Los Angeles-based investor for $2.6 million. The 8,302-square-foot, newly renovated building was originally constructed in 2013. AutoZone occupies the property on a new 15-year triple-net lease featuring 10 percent rent increases every five years. Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisors represented the seller in the deal, while Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer.

August 5, 2026

Leasing Activity Retail Texas

Whole Foods to Open New Store at Shivers Farm in Southlake, Texas

by Taylor Williams August 4, 2026

SOUTHLAKE, TEXAS — Whole Foods Market will open a new store at Shivers Farm, a 40-acre mixed-use development in Southlake, located north of Fort Worth. The square footage was not disclosed. The groundbreaking of the new store will take place in the coming days, and the store is expected to open late next year. Trademark Property Co. is the master developer of Shivers Farm.

August 4, 2026

Acquisitions Development Maryland Mixed-Use Retail Southeast

Home Depot to Open First Store in Southern Maryland

by John Nelson August 4, 2026

CALIFORNIA, MD. — The Home Depot has purchased 13.5 acres within Lexington Exchange, a 140-acre mixed-use park situated along Three Notch Road (Md. Route 235) in California. The Atlanta-based retail giant plans to open a new store at the site, representing the company’s first store in southern Maryland. Baltimore-based St. John Properties Inc., the master developer of Lexington Exchange, sold the site to The Home Depot for an undisclosed price. Alex Lyons and Bill Holzman handled negotiations for St. John Properties internally, and Greg Ferrante of Segall Group represented The Home Depot. The size of the store and target opening date were not released. The Home Depot is the latest retailer coming to the lineup at the mixed-use development, joining tenants including Aldi, Royal Farms, Chipotle Mexican Grill and RC Theatres. Lexington Exchange currently features five buildings spanning 120,000 square feet of flex/research-and-development space and 65,000 square feet of retail. The park is configured to support approximately 600,000 square feet of commercial space. St. John Properties and development partner Chaney Enterprises are currently marketing several pad sites within Lexington Exchange to retail users in the healthcare, banking and food-and-beverage segments.

August 4, 2026

Acquisitions Illinois Midwest Retail

Newmark Brokers Sale of 51,795 SF Retail Condo Along Chicago’s Magnificent Mile

by Kristin Harlow August 4, 2026

CHICAGO — Newmark has brokered the sale of a 51,795-square-foot retail condominium at 919 N. Michigan Ave. along Chicago’s Magnificent Mile. Louis Vuitton is the anchor tenant and has occupied space at the property for more than 20 years. The luxury retailer recently completed a renovation and expansion of its flagship store and extended its lease. Keely Polczynski and Conor Lalor of Newmark represented the buyer, L3 Capital. Joe Girardi of Mid-America Real Estate represented the undisclosed seller. The asset occupies the base of the historic, 37-story Palmolive Building. The four-level property is 68.8 percent leased by luxury retailers. Originally built in 1929 and renovated in 2005, the Palmolive Building features retail, office and residential condominiums.

August 4, 2026

Development Illinois Midwest Office Restaurant Retail

Friedman Properties Completes Riverwalk Replacement at Reid Murdoch Building in Chicago

by Kristin Harlow August 4, 2026

CHICAGO — Friedman Properties has completed reconstruction of the riverwalk at the Reid Murdoch Building in Chicago’s River North neighborhood. Together with renovations at River Roast, the forthcoming opening of The Carlyle Club and prior ground-level improvements, the updates represent approximately $15 million in recent investment at the property, which features a 300-foot riverwalk connecting Clark Street to LaSalle Drive. The latest renovation nearly doubled the width of the previous riverwalk and introduced a series of 10-foot-tall double doors in the south elevation, creating new opportunities for outdoor dining and improving pedestrian circulation. The work also included new precast piers, railings, lighting, integrated planters and improved access from the river level for visitors arriving by boat. Coinciding with the redevelopment of the riverwalk, operator Levy Restaurants has completed renovations of River Roast, the 28,000-square-foot riverfront venue located in the building. The restaurant’s main event space, which has been rebranded RR Events, now features a new riverside entrance with a curved grand staircase, dual-sided bars and upgraded lighting fixtures, furniture, flooring and tableware. The renovation also added Corner Roast, a new coffee concept with its own entrance. Friedman also closed a lease with The Carlyle Club, scheduled to open at the …

August 4, 2026

Acquisitions California Restaurant Retail Top Stories Western

Henderson Park, Lowe Acquire Metro San Diego Mall for $201.5M, Plan Upgrades

by John Nelson August 4, 2026

NATIONAL CITY, CALIF. — A joint venture between Henderson Park and Lowe has acquired Plaza Bonita, a 1 million-square-foot enclosed regional mall in National City within San Diego County. The seller and sales price were not disclosed, but The San Diego Union-Tribune reports that Paris-based mall giant Unibail-Rodamco-Westfield sold the property for $201.5 million. Built in 1981, Plaza Bonita sits on a 78-acre site and serves the San Diego suburbs of National City and Chula Vista. Anchor tenants of the mall include Macy’s, Target, JCPenney, AMC Theatres, Nordstrom Rack and Round1. Overall, the mall houses 150 stores, restaurants and entertainment venues. Henderson Park and Lowe plan to upgrade and reposition the mall through “significant capital improvements and leasing investment.” The joint venture partners also plan to refresh existing stores and enhance common areas. The construction timeline for the renovations and remerchandising program was not shared. “Plaza Bonita provided a compelling opportunity to acquire and operate a well-performing and stabilized asset that can benefit from physical updates and potential new uses,” says Joel Mayer, executive vice president at Lowe. “Alongside Henderson Park, we intend to build on its strengths and update the property by devoting capital to a host of improvements, …

August 4, 2026

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 94,532 SF Shopping Center in Wichita Falls, Texas

by Taylor Williams August 3, 2026

WICHITA FALLS, TEXAS — Marcus & Millichap has brokered the sale of Parker Square Shopping Center, a 94,532-square-foot retail center in Wichita Falls, about 115 miles northwest of Fort Worth. Crunch Fitness anchors the center, which was built in 1955 and was 97 percent leased at the time of sale. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

August 3, 2026

Development Florida Retail Southeast

Minto Communities Sells Land in South Florida to Walmart for New Supercenter

by John Nelson August 3, 2026

WESTLAKE, FLA. — Minto Communities USA has sold a 24-acre parcel at Town Center West in Westlake, a master-planned community in South Florida’s Palm Beach County. The buyer, Walmart, plans to develop a 188,779-square-foot Walmart Supercenter at the site, including a separate convenience store and gas station. The sales price was not released. The new Walmart Supercenter will sit adjacent to a future Lowe’s Home Improvement store, which will also double as a regional headquarters for the North Carolina-based retailer. Minto sold that site to Lowe’s in January. Minto retains a large outparcel at Town Center West that the company will market for sale in the near future. The firm has sold approximately half of the holdings in Westlake that is approved for 2.2 million square feet of commercial development. Westlake has the capacity for 6,000 homes ranging in configurations between single-family homes, estate homes and townhomes, with prices starting in the $300,000s, according to Minto. Amenities at the master-planned community include Westlake Adventure Park, The Lodge and a 3,900-square-foot fieldhouse and event space that will open soon.

August 3, 2026

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