AUSTIN, TEXAS — Barnes & Noble will open an approximately 20,000-square-foot store at Southpark Meadows, a regional power center located along I-35 in South Austin. The book retailer is backfilling a space previously occupied by Office Max with one of its smaller-format stores. Charlotte-based Big V Property Group owns Southpark Meadows, which is also home to tenants such as Walmart, Target, PetSmart, Ulta Beauty, Old Navy, J.C. Penney and Marshalls. A tentative opening date was not disclosed.
LONGVIEW, TEXAS — Locally based firm Scarborough Commercial Real Estate has arranged the sale of Hawkins Crossing, a 16,250-square-foot retail center located at 3052 N. Eastman Road in the East Texas city of Longview. The center was 93 percent leased at the time of sale to tenants such as Louisiana Cajun Kitchen, Fresh Dental and PURE Nail Salon. Stephanie Taylor of Scarborough Commercial represented the seller and sourced the buyer, both of which requested anonymity, in the transaction.
HUDSON, OHIO — Industrial Realty Group (IRG) has begun the redevelopment of the 1.4 million-square-foot former headquarters campus of fabrics retailer Joann in Hudson, located roughly midway between Cleveland and Akron. The 130-acre campus currently features industrial and office space, as well as undeveloped land. IRG plans to redevelop the campus to support uses such as corporate headquarters, distribution, research and development, manufacturing and retail, through both ground-lease and build-to-suit opportunities. In addition, the company will rebrand the campus as Hudson District and has tapped CBRE as the leasing agent. Joann filed for Chapter 11 bankruptcy in 2024 and earlier this year announced that it would begin closing all its retail stores.
MONTCLAIR, CALIF. — SRS Real Estate Partners has directed the $5.7 million (or $1,451 per square foot) ground lease sale of a restaurant property located at 5212 Moreno St. in Montclair. Panera Bread occupies the 3,950-square-foot property on a single-tenant net-lease basis. The building, which was built in 2014, is secured by a corporate-guaranteed ground lease with 15 years remaining. Patrick Luther and Matthew Mousavi of SRS Capital Markets represented the seller, a Southern California- and Arizona-based developer. The buyer was a California-based private investor.
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Lee & Associates’ Report: Q2 Net Absorption Declines Across All Property Sectors Except Multifamily
Lee & Associates’ 2025 Q2 North America Market Report looks back at shrinking (or negative) net absorption for industrial, office and retail sectors in the last quarter. Meanwhile, multifamily tenant demand beat previous expectations in the same three months, as a feared recession failed to materialize. The mix of factors for absorption varied by property type: industrial and office markets saw increases in vacancy, while competition for retail space remained high, even in the face of high-profile closures. Lee & Associates’ full market report is available to read here (plus detailed vacancy rates, cap rates by city, market rents, square footage information, information on Canadian markets and more). The recaps for industrial, office, retail and multifamily sectors below detail trends and outlooks for each property sector in the remainder of 2025. Industrial Overview: Vacancies Rise, Rent Growth Slows Concern over the impact of tariffs has added to slowing tenant growth in logistics and manufacturing across North America. But the continued easing demand has resulted in more choices and benefits for users that have been subjected to a prolonged stretch of steep rent growth. Vacancies in the United States have risen to 7.4 percent, a decade-long high, while deliveries continued to outpace tenant expansion. Net absorption fell …
ANNA, TEXAS — Hospitality owner-operator GTP Food Group will open three new restaurants in the North Texas city of Anna. The Gin will feature Southern cuisine, and Tenders Smokehouse will be a barbeque concept. The third restaurant will be Papa Gallo’s Mexican Grill & Margarita Bar. Combined, the restaurants represent a capital investment of about $10 million in the city’s downtown area, as well as the potential creation of about 100 new jobs. Construction is scheduled to begin in early 2026 and is expected to last about one year.
WEBSTER, TEXAS — Marcus & Millichap has brokered the sale of a 23,820-square-foot shopping center located in the southeastern Houston suburb of Webster. Built in 2004, Webster Shopping Center was 94 percent leased at the time of sale to tenants such as Freebirds and Buffalo Wild Wings. Justin Miller of Marcus & Millichap represented the seller, an out-of-state investor that acquired the center 20 years ago, in the transaction. Marcus & Millichap also secured the buyer, a local investor.
DALTON, GA. — Matthews has arranged the sale of Northside Plaza, a 73,931-square-foot shopping center located at 1263 N. Glenwood Ave. in Dalton, a city in north Georgia near the Tennessee border. The center was 92 percent leased at the time of sale to tenants including America’s Thrift Stores and Dollar Tree, as well as other national and restaurant outparcels. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews brokered the transaction. A family office out of Texas purchased Northside Plaza for an undisclosed price. The seller was also not disclosed.
MONTICELLO, KY. — Marcus & Millichap has brokered the $5.9 million sale of Cumberland Crossing, a 94,366-square-foot shopping center located in Monticello. Situated on roughly 16 acres, Cumberland Crossing was 86 percent leased to tenants including Marshalls, Five Below, Farmers Home Furniture, Dollar Tree and Great Clips at the time of sale. Walmart, which has operated at the site since 2001, shadow-anchors the property. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller in the transaction. Grant Fitzgerald was the firm’s broker of record in Kentucky.
ORANGE COUNTY, CALIF. — Jacksonville, Fla.-based Regency Centers Corp. has acquired five shopping centers within the 23,000-acre master-planned community of Ranch Mission Viejo in Orange County, Calif., for $357 million. The properties, which comprise 630,000 square feet, include Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops and Sendero Marketplace. The portfolio is 97 percent leased to a mix of needs-based tenants such as grocers, restaurants and health, wellness and personal service uses. The seller was Newport Beach, Calif.-based Westar Associates. Regency funded the acquisition with a combination of operating partnership (OP) units issued at $72 per unit, the assumption of $150 million of secured mortgage debt and $7 million in cash used to pay off a single secured loan. The assumed debt has a weighted average interest rate of 4.2 percent and term to maturity of 12 years. BofA Securities served as financial advisor to the seller and EY served as the tax advisor. Additionally, Latham & Watkins advised the seller in the transaction, while Paul Hastings advised Regency.