SAN DIEGO — Marcus & Millichap has brokered the sale a retail property located at 1631 Sixth Ave. in downtown San Diego’s Cortez Hill submarket. Mills at Cortez LLC sold the asset to an undisclosed buyer for $1.9 million. 7-Eleven and Barber Craft Retail Condo occupy the 3,251-square-foot property. Reed Hamilton, Bill Rose and Parker Wada of Marcus & Millichap represented the seller in the deal.
WATCHUNG, N.J. — On behalf of an undisclosed landlord, Levin Management Corp. (LMC) has welcomed four new tenants to the 420,000-square-foot Blue Star Shopping Center in the Northern New Jersey community of Watchung. The leases with Burlington, Taco Bell, Nail Spa & Beyond and Marshalls total roughly 62,200 square feet. Marshalls will relocate to a 27,000-square-foot portion of a building formerly occupied by ShopRite, which is also being redeveloped to accommodate Burlington. Additionally, Taco Bell has opened a 2,900-square-foot restaurant, while Nail Spa & Beyond will operate a 5,800-square-foot salon. E.J. Moawad of LMC represented ownership in the lease negotiations. Cliff Simon of CNS represented Burlington, while Jerry Welkis and Stephan Miller of Welco Realty represented Marshalls. Bob Delia of Summit Realty represented Taco Bell.
SAN ANTONIO — EōS Fitness will open a 48,248-square-foot gym in northwest San Antonio. The Dallas-based operator will backfill a space formerly leased to Conn’s HomePlus at The Village at Summit shopping center. Rise Commercial Partners represented the tenant in the lease negotiations. CBRE represented the landlord, an entity doing business as Summit Income Partners LP. The opening is set for 2027.
THE WOODLANDS, TEXAS — Metro Philadelphia-based CenterSquare Investment Management has purchased Commons at Harper’s Preserve, a 21,777-square-foot retail strip center located north of Houston in The Woodlands. The center was 91 percent leased at the time of sale to tenants such as Five Guys, Jeremiah’s Italian Ice, Little Caesar’s, Dunkin’ and Next Level Urgent Care. The seller and sales price were not disclosed.
BRADENTON, FLA. — An affiliate of Miami-based CORE Investment Management has acquired Cortez Plaza, a 260,000-square-foot shopping center in Bradenton. The seller and sales price were not disclosed, but the Business Observer reported that an affiliate of Richmond-based Hackney Real Estate Partners sold the property for $39.4 million. Cortez Plaza’s tenant roster includes LA Fitness, Sprouts Farmers Market and Burlington, along with newly developed outparcels occupied by Chick-fil-A and Starbucks Coffee.
MEDFORD, ORE. — Bear Creek Partners I LLC has completed the disposition of Bear Creek Plaza, a shopping center in Medford. Bear Creek CV LLC acquired the asset for $25.2 million. Built in 1977 on nearly 17 acres, Bear Creek Plaza offers 189,670 square feet of retail space. Current tenants include Bi-Mart, Dollar Tree, Crunch Fitness, McDonald’s, Wendy’s, Carl’s Jr., First Interstate Bank, OneMain Financial, Metro PCS, Papa Murphy’s and Sally Beauty Supply. Clayton Brown and Ruthanne Loar of Marcus & Millichap represented the seller and procured the buyer in the deal. David Tabata of Marcus & Millichap served as broker of record in Oregon.
LOS ANGELES — Los Angeles-based Prime Pizza, a rapidly expanding New York-style pizza restaurant, has signed leases for five new locations in Southern California. The locations are at Alicia Landing Shopping Center in Mission Viejo; Gaslight Square in Brea; Farmers & Merchants Bank Center in Torrance; and two freestanding locations, one in Thousand Oaks and another in Valley Village, Calif. Mark Seferian of RCI Brokerage represented Prime Pizza in the transactions, which ranged from 1,256 to 1,951 square feet. The Mission Viejo and Brea locations are slated to open in the fourth quarter of 2025, while the Valley Village, Thousand Oaks and Torrance locations will open during the second quarter of 2026.
By Kenneth Katz, principal at Baker Katz Growth and innovation opportunities remain strong in Texas, despite ongoing changes in the retail sector. True potential often emerges not just from redeveloping individual buildings, but also from reimagining the future of entire communities. Identifying underutilized retail assets where others see stagnation — and meticulously transforming them into vibrant, value-generating destinations — is key to successful retail redevelopment projects. At its core, redevelopment is a response to change. When commercial properties are first built, they are typically developed to meet a market’s needs in terms of an appropriate tenant mix, functional layouts, attractive aesthetics and other key attributes. Over time, however, as communities evolve, populations shift, infrastructure expands and tenant preferences and tastes change, previously optimized projects can gradually underperform. These shifts create opportunities for thoughtful redevelopment. Identifying Strong Candidates Properties that no longer meet the desires or needs of a community are often the strongest candidates for redevelopment. These can include projects with outdated configurations, limited accessibility due to changes in roadways or high vacancy rates from tenant relocations or bankruptcies. Other high-potential properties may suffer from deferred maintenance that has reduced occupancy and rents or from aesthetic obsolescence that discourages both …
ANNA, TEXAS — EōS Fitness will open a 40,000-square-foot gym in Anna, located north of Dallas in Collin County. The Dallas-based operator is taking space at Rosamond Corners, a grocery-anchored development located at the northeast corner of U.S. Highway 75 and Rosamond Parkway. Segovia Partners represented the tenant in the lease negotiations. SHOP Cos. represented the undisclosed landlord. The opening is set for 2027.
BENSALEM, PA. — Hanley Investment Group Real Estate Advisors has arranged the $12.5 million sale of Bensalem Crossings, a 67,215-square-foot shopping center located roughly 19 miles north of Philadelphia. Bensalem Crossings was fully leased at the time of sale, with ShopRite and CVS occupying 93 percent of the space. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley, in association with ParaSell Inc., represented the seller, Adler Realty Investments Inc., in the transaction. The team also procured the buyer, an undisclosed, Southern California-based private investor.
