HUNTINGTON BEACH, CALIF. — Westwood Financial has acquired Peninsula Marketplace, a 95,416-square-foot shopping center located in Huntington Beach in Southern California. Grocer Ralphs anchors the property, which was 99 percent leased at the time of sale. Other tenants at the center include Planet Fitness, Carl’s Jr., Woof Gang Bakery & Grooming, Sourdough & Co., Rubio’s Baja Gril, Peninsula Orthodontics, Aim Mail Center and 602 Coffee & Acai.
APPLE VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of Apple Valley Towne Center, a regional shopping center in San Bernardino County. Kevin Fryman, Bill Asher and Sean Cox of Hanley Investment Group represented the seller and developer, San Pedro, Calif.-based Rich Development Enterprises, in the transaction. The buyer and sales price were not disclosed. Completed earlier this year o a 7.9-acre site at 19390 Bear Valley Road, Apple Valley Towne Center features 87,042 square feet of retail space that was fully leased at the time of sale to three national junior box tenants: Hobby Lobby, Marshalls and Five Below. The tenants operate under new initial long-term triple-net leases with scheduled rental increases every five years. Additionally, the property is shadow anchored by Stater Bros. Markets, Lowe’s and Walgreens.
CLINTON TOWNSHIP, MICH. — Four new tenants are opening at The Mall at Partridge Creek this fall. The open-air regional shopping center is located in Macomb County and is home to more than 80 stores, restaurants and entertainment sites. Cherry Republic, a northern Michigan business that makes cherry products, is now open in a 6,277-square-foot store next to Pandora inside the mall’s main entrance. The Noble Duck Japanese Sushi & Steakhouse, a new local concept, will open this holiday season. Owned by Chef Omar Mitchell, the creator of Detroit’s Table No. 2 Restaurant, The Noble Duck will offer modern Japanese dining in a 4,831-square-foot space near Cooper’s Hawk and Powerhouse Gym at the east end of the mall. See’s Candies will open at the mall in November with a 1,499-square-foot location next to Express at the mall’s main entrance. Apparel and accessories retailer Aeropostale will open in late November. The 3,760-square-foot store will be located at the east end of the mall next to American Eagle.
GRAND RAPIDS, MICH. — Marcus & Millichap has brokered the $3.2 million sale of an automotive service property occupied by Christian Brothers Automotive in Grand Rapids. Built in 2021, the property totals 5,810 square feet. Jeff Rowlett and Paul Kerber of Marcus & Millichap procured the buyer, a private investor based in Illinois.
EL CAJON, CALIF. — DPI Retail has sold Main Street Marketplace, a grocery-anchored shopping center in El Cajon, located in San Diego County, for $17.5 million. The buyer, an entity doing business as First Corner LLC, is the owner of Manolo Farmers Market, which has anchored the property since 1988. Enrique Wong of Marcus & Millichap, along with Tom Lagos, Patrick Toomey and Jose Carrazana of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal. Built in 1979 at 1045-1099 E. Main St., Main Street Marketplace offers 75,328 square feet of retail space. Other tenants includes Bellus Academy, D C Cleaners, Fresh Up Barber Shop, Total Vision El Cajon, Boost Mobile, Freeway Insurance and El Cajon Eco Laundry. At the time of sale, Main Street Marketplace was 94.7 percent occupied, with dd’s Discounts accounting for two-thirds of the gross leasable area.
NASHVILLE, TENN. — BWE has arranged a $42.5 million loan to refinance the historic Baggage Building, a 61,000-square-foot office and retail property located at 111 10th Ave. S near Nashville’s Gulch district. Nick Harb of BWE secured the financing through a regional bank on behalf of the borrower, DZL Properties. The loan features a “meaningful” interest-only payment period. The Baggage Building was originally built between 1898 and 1900 as part of the Louisville-Nashville Railroad/Union Station terminal complex used to handle luggage and freight. Renovated in 1999, tenants at the four-story property include Pinnacle Bank, The Finch Grill & Raw Bar and Global Medical Research.
CAPITOL HEIGHTS, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Coral Hills, an 85,514-square-foot shopping center located in Capitol Heights, roughly 10 miles from downtown Washington, D.C. David Crotts and Dean Zang of IPA represented the seller, a national investment management company, and procured the undisclosed buyer. The sales price was also not disclosed. Jared Cassidy of Marcus & Millichap Capital Corp. (MMCC) arranged the financing through an international bank on behalf of the buyer. International grocer New Grand Mart will replace the former Shoppers Food anchor at Coral Hills, which was built in 1988 on more than six acres. The property features a mix of inline tenants including national retailers, medical and professional service providers and casual dining concepts.
GRANDVILLE, MICH. — Eleven new tenants are joining RiverTown Crossings in Grandville. The leases total 33,208 square feet. Throw it Back Dirty Soda opened its first permanent storefront Aug. 15 on the lower level next to Vito’s Sports Shop. Opening Nov. 15, Sweet Kisses Bakery will be located on the second level near JC Penney. Coming this fall are Addiour Perfume, Summit Comics and Games, Katie’s Heart & Home, Ventrora Perfume, Kako Claw and Cell Repair Xpert. MooZoo Slime Shop has a grand opening scheduled for Thursday, Oct. 17. Opening in winter 2026 are JD Sports and Snack’d. RiverTown Crossings is an indoor shopping and entertainment destination in west Michigan.
BIRMINGHAM, ALA. — Maryland-based Federal Realty Investment Trust (NYSE: FRT) has acquired The Summit, an 870,000-square-foot, open-air shopping center in Birmingham, for $508 million. Purchased from the original developer, locally based Bayer Properties, the 100-acre property is the most visited retail destination in Alabama, drawing nearly 9 million annual visits, according to Federal Realty. As reported by the Birmingham Business Journal, Bayer sold its property management and leasing portfolio to Dallas-based Centennial in 2022, though the company’s original underlying real estate assets were not part of that sale. The acquisition is expected to be funded on a long-term basis with a combination of net sale proceeds, free cash flow and funds from Federal Realty’s recently issued convertible notes. Situated at the intersection of I-459 and U.S. Highway 280, The Summit opened in 1997 with initial retailers like Barnes & Noble and Parisian (which later transitioned into a flagship store for Belk), expanding in phases through 2009. The Summit now features more than 110 tenants, including Apple, Trader Joe’s, RH, Nordstrom Rack, Alo Yoga, Sephora and North Italia, with over 30 tenants operating their only Alabama location at the center. At the time of sale, The Summit was 92 percent occupied. In …
HOUSTON — Brokerage firm Rockspring Properties has negotiated the sale of a portfolio of four grocery stores totaling 145,546 square feet in Houston. Seller Bros. is the owner and occupant of the stores, three of which are located in Houston proper and one of which is located in the eastern suburb of Pasadena. The buyer was Reliable Properties. Cotton Munson, Mike Axelrad and Aimee Namakarn of Rockspring Properties brokered the deal.
