JUNCTION, TEXAS — Marcus & Millichap has brokered the sale of Gordo’s Travel Center, a 15,000-square-foot gas station and convenience store in Junction, about 115 miles northwest of San Antonio. Built in 2025, the property offers seven multi-product fuel pumps, six diesel stations and showers and restrooms, as well as food and beverages from brands such as Charleys Cheesesteaks, Sbarro and Starbucks. Ameer Adel and Jacob Luna of Marcus & Millichap represented the seller and procured the buyer in the transaction.
LOS ANGELES — Locally based Decron Properties has acquired 5550 Wilshire, a 163-unit apartment community in the Miracle Mile area of Los Angeles. According to the Los Angeles Business Journal, the seller was private equity real estate investor GID, headquartered in Atlanta. The asset sold for $114 million. Blake Rogers of JLL arranged the transaction. Developed in 2010, 5550 Wilshire offers one-, two- and three-bedroom apartments and townhomes. Amenities include a resort-style pool, hot tub, rooftop lounges, movie theater and parking for 484 vehicles. The property also includes 14,686 square feet of ground-floor retail space that is fully leased to tenants that include Chipotle, Five Guys and FedEx Office. Decron owns and manages approximately 10,000 multifamily units and approximately 1 million square feet of retail assets across California, Washington and Arizona.
LINDEN, N.J. — JLL has negotiated the sale of The Shops at Legacy Square, a 93,785-square-foot shopping center located in the Northern New Jersey community of Linden. Built in 2021, the center was roughly 81 percent leased at the time of sale to tenants such as Starbucks, Panera Bread, Taco Bell, Wawa, Chick-fil-A, AFC Urgent Care and Aspen Dental. J.B. Bruno, Kevin O’Hearn, Jose Cruz and Cole Doyon of JLL represented the seller, a partnership between Stockbridge Capital Group and Cypress Equities, in the transaction. Michael Klein and Max Custer, also with JLL, arranged acquisition financing for the deal on behalf of the buyer, a partnership between Lamar Cos. and Real Capital Solutions.
VIRGINIA BEACH, VA. — Pembroke Realty Group has provided updates on the $300 million redevelopment of Pembroke Mall, a regional shopping mall in Virginia Beach that dates back to 1966. The project, renamed Pembroke Square, will comprise The Pembroke, a 284-unit luxury apartment community set to break ground in the coming months, and Tempo by Hilton, a 163-room hotel that is underway. Two additional phases are in pre-development, while approximately 26,000 square feet of retail space is expected to come on line through 2028. Existing components at Pembroke Square include Aviva Pembroke, a 153-unit senior living community that opened in December 2024, and existing shops and restaurants including Bath & Body Works, Kohl’s, Latitude Climbing + Fitness, Nordstrom Rack, Old Navy, REI Co-Op, Target, The Fresh Market and Walgreens. Delivery dates for The Pembroke and Tempo by Hilton were not released.
MATTHEWS, N.C. — Harris Teeter, a Matthews-based regional grocer and subsidiary of The Kroger Co., plans to invest approximately $253 million over the next three years to refresh and modernize select stores in North Carolina and South Carolina. Renovations and enhancements are planned for locations in Fort Mill and Rock Hill, S.C.; and Matthews, Waxhaw, Concord and Huntersville, N.C. In addition, Harris Teeter plans to open three new stores in Fort Mill and Lake Wylie, S.C., and Kannapolis, N.C. Customers will begin seeing store updates roll out in phases, with timing and scope varying across locations over the next three years. As renovations are completed, grand reopenings are expected to begin this fall.
FRISCO, TEXAS — The Karahan Cos. has inked deals with seven new retailers and restaurants at Fields West, a 55-acre mixed-use development located north of Dallas in Frisco. The tenants include Boll & Branch, Evereve, Flower Child, lululemon, SusieCakes, Tecovas and Warby Parker. Previously announced tenants at Fields West include Crate & Barrel, Gorjana, Pottery Barn, Sweetgreen, Williams Sonoma and [solidcore]. The project’s retail component, which is scheduled to come on line next year, is now 75 percent preleased via 44 signed leases.
DETROIT — The Detroit Tigers and Fifth Third Bancorp (NYSE: FITB) have announced that Comerica Park will become Fifth Third Park. The naming rights transition follows Fifth Third’s acquisition of Comerica in February. After the merger, Fifth Third became the largest retail deposit holder in both Michigan and Detroit, established its Michigan regional headquarters at One Campus Martius in downtown Detroit and maintained the Great Lakes Campus in Farmington Hills. Since opening in 2000, the ballpark has anchored Detroit’s sports and entertainment district. Signage updates will roll out during the offseason, and the marquee signage will be installed ahead of the 2027 season. Comerica Park has been the name of the stadium since it opened.
HIGHLAND PARK, ILL. — Marcus & Millichap has negotiated the $7.8 million sale of Garrity Square, a 13-suite retail property in Highland Park. The 20,000-square-foot center is located at 1833 Deerfield Road. The asset is anchored by a freestanding Starbucks that has operated at the property since 2002. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller and procured a private investor buyer.
GALLATIN, TENN. — GBT Realty Corp. plans to develop The Crossroads of Gallatin, a nearly 300,000-square-foot shopping center located in Gallatin, a middle Tennessee city approximately 30 miles northeast of Nashville. Current development plans include roughly 30,000 square feet of divisible shop space, multiple large-format retail spaces ranging up to 55,000 square feet and six outparcels. The Brentwood, Tenn.-based developer is currently in discussion with multiple dining, retail, health and fitness and service-based retailers and restaurants. Further details of the project were not disclosed. Upon full build-out, The Crossroads of Gallatin will be the largest shopping destination constructed in the Nashville MSA since 2015, according to GBT Realty.
PEARL, MISS. — Three retailers are opening new stores at The Outlets of Mississippi, a 325,000-square-foot, open-air outlet mall located in Pearl, roughly five miles outside Jackson. Toys “R” Us will open a 4,645-square-foot store this month, while footwear brand and specialty shoe retailer Clarks will launch its 3,000-square-foot space in the fourth quarter of this year. Seasonal pop-up retail chain Spirit Halloween has already opened its 7,556-square-foot store at the center. The new leases are part of an ongoing revitalization of the center that has welcomed other national and regional brands including Ulta Beauty and Southern Marsh, along with Bath & Body Works, Michael Kors, Nike Factory Store, PUMA, Levi’s and Marshalls, among others. Jackson, Miss.-based Spectrum Capital LLC owns The Outlets at Mississippi, which opened in 2013.
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