Retail

Bolsa-Pacific-Westminster-CA

WESTMINSTER, CALIF. — Shopoff Realty Investment has broken ground on Bolsa Pacific at Westminster, a mixed-use redevelopment of the vacant Westminster Mall in Orange County. Designed by AO, the project will transform the former mall into a 83.3-acre downtown destination. Upon completion, Bolsa Pacific will feature 2,250 residential units, 220,000 square feet of retail and restaurant space, a 120-key hotel and more than 15 acres of publicly accessible open space. The residential component will include market-rate and affordable housing, as well as for-sale townhomes spread across five multifamily buildings. Demolition of the former Westminster Mall is underway. The existing Target will remain open during construction, with a new store planned and relocated within the overall development. The project is located along the 405 Freeway and 10 minutes from the Los Angeles County border. In 2024, the scope of the initial project expanded from a 25.8-acre assemblage to encompass the full 83.3-acre former mall site. The expansion enables a comprehensive reimagining of the property that will transform the single-use retail center into a connected mixed-use district.

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FAIRVIEW, TEXAS — Academy Sports + Outdoors will open a 130,000-square-foot store in Fairview, a northeastern suburb of Dallas. The retailer will backfill a former Macy’s store at Fairview Town Center, a 921,075-square-foot power center that first opened in 2009. Thomas Glendenning of SHOP Cos. negotiated the lease on behalf of the Fairview Economic Development Corp. Remodeling of the space is underway, and Academy expects to open its doors in the coming weeks.

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1200 Poydras St.

NEW ORLEANS — SRSA Real Estate has negotiated the $7.2 million sale of a ground-floor retail condominium at 1200 Poydras St. in New Orleans near the Caesars Superdome, home of the NFL’s New Orleans Saints. Chick-fil-A and Hurts Donut anchor the 17,270-square-foot space, with Juicy Seafood expected to open immediately. Steve Reisig and Christopher Robertson Jr. of SRSA Real Estate represented the seller, an entity doing business as Poydras Properties II LLC, in the transaction. The buyer requested anonymity.

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BUFFALO GROVE, ILL. — Associated Bank has provided a $22.6 million loan to Shorewood Development Group for the acquisition and redevelopment of a vacant, 66,083-square-foot former grocery store at 1160 W. Lake Cook Road in Buffalo Grove. The sale also included an outlot site. Named Chase Plaza, the project will feature a two-tenant, grocery-anchored retail building occupied by Sprouts Farmers Market and Club Studio fitness center. The space had been vacant for years. The project marks the first Club Studio location in the northwest Chicago suburbs. Daniel Barrins of Associated Bank managed the loan arrangements and closing.

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BATAVIA, OHIO — Prudent Growth Partners LLC, a private equity real estate firm based in Chapel Hill, N.C., has purchased Eastgate Shopping Center in Batavia near Cincinnati for $3.3 million. The neighborhood retail center totals 20,520 square feet and is situated along Old State Route 74 with direct access to State Route 32. The property is currently 94 percent leased and features a mix of service, medical and necessity-based tenants, including State Farm, Farmers Insurance, Merry Maids and Avis/Budget.  

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COLUMBUS, OHIO — Newmark has arranged the sale and acquisition financing of the office and retail components of The Pointe at Polaris, a mixed-use asset located in the Polaris submarket of Columbus. DFWLAND purchased the property from a joint venture between VanTrust Real Estate and NP Limited Partnership. Positioned along Polaris Parkway, The Pointe at Polaris comprises 212,366 square feet of trophy office space and 33,071 square feet of retail space. The office portion is fully leased to tenants such as Bank of America, Fiserv, Power Home Remodeling and Employers Health, while the retail portion is fully leased to tenants such as Kitchen Social, Condado Tacos, Sweetwaters Coffee & Tea and Club Pilates. The property offers connectivity via I-71 and immediate proximity to Polaris Fashion Place, one of the region’s most prominent retail destinations. Derek Fohl, Jim Postweiler, Peter Harwood, Jack Trager and Jim Clark of Newmark represented VanTrust. Gary Carr of Newmark advised the buyer, while Ari Schwartzbard and Bill Weber of Newmark arranged the financing. Newmark’s Jake Paschen provided analytical support for the transaction.

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ROSEVILLE, MINN. — Pottery Barn has signed a 12,500-square-foot lease to open at Rosedale Center, a 1.1 million-square-foot shopping mall in Roseville. The home furnishings retailer will occupy an exterior space and is slated to open in the third quarter of 2027. Holly Rome of JLL leads the leasing efforts for Rosedale Center and secured the lease with Pottery Barn, which is a member of the Williams-Sonoma Inc. portfolio of brands.

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HOUSTON — Marcus & Millichap has brokered the sale of a 47,988-square-foot retail building in northwest Houston. The freestanding building, which was constructed on a 5.5-acre site at 7300 W. Greens Road in 1994 and renovated in 2018, was fully leased at the time of sale to 24 Hour Fitness. Scott Jones, Gus Lagos and Alex Wolansky of Marcus & Millichap represented the seller, a California-based investor, in the transaction and procured the buyer, a local investor that acquired the asset via a 1031 exchange.

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6760-University-Ave-San-Diego-CA.jpg

SAN DIEGO — Marcus & Millichap has arranged the sale of La Mesa Mixed-Use, a mixed-use property in San Diego. Ross Sanchez and Nick Totah of Marcus & Millichap represented the seller and buyer in the deal. Located at 6760 University Ave., the 12,196-square-foot property features 13 suites with a mix of office and retail uses, 28 parking spaces, dual access points and high-visibility frontage. At the time of sale, the building was occupied by service-oriented tenants, including beauty, auto, legal and entertainment uses. The property was built in 1976.

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Valley-Plaza-Pomona-CA

POMONA, CALIF. — Progressive Real Estate Partners has negotiated the sale of Valley Plaza, a multi-tenant retail property located at 2407 Valley Blvd. in Pomona. A private investor acquired the asset for $2.6 million from a private investor. Built in 1993, Valley Plaza offers 11,720 square feet of retail space. Current tenants include Panaderia Jaliscos & Maria Taco, Pomona Water & Ice, Pearl Dental Care and Curry Time. Trinnie Lee of Progressive Real Estate Partners represented the seller, while Mark Wilson of Channel Investment Group represented the buyer in the transaction.

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