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AcquisitionsIllinoisLee & AssociatesMidwestRetail

Lee & Associates Negotiates $1.5M Sale of Former Bank Property in Carol Stream, Illinois

by Kristin Harlow

CAROL STREAM, ILL. — Lee & Associates has negotiated the $1.5 million sale of a 4,500-square-foot, former bank property in the Chicago suburb of Carol Stream. The freestanding building at 1275 N. County Farm Road features six drive-thru lanes. Rick Scardino of Lee & Associates represented the buyer, Universal Metro Asian Services, which plans to relocate to the facility and utilize it for adult daycare services. Brendan Reedy and Jimmy Danaher of Mid-America Real Estate represented the seller, GW Carol Stream LLC.

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AcquisitionsMichiganMidwestRetail

North Central Area Credit Union Purchases Development Site in Standish, Michigan

by Kristin Harlow

STANDISH, MICH. — North Central Area Credit Union has purchased .85 acres of commercial land on South Huron Road in Standish, a city in northern Michigan. The sales price was undisclosed. Jack Melton, Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed seller. Sara Lewis of Century 21 Affiliated represented the credit union, which will soon begin construction at the site.

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Burlington-Mall
DevelopmentMassachusettsNortheastRetail

Simon Completes 130,000 SF Redevelopment Project at Burlington Mall in Metro Boston

by Taylor Williams

BURLINGTON, MASS. — Simon Property Group has completed a 130,000-square-foot redevelopment at Burlington Mall, located on the northern outskirts of Boston. The multimillion-dollar project added an outdoor park with green space and amenities, elevated wood elements and porcelain tile finishes throughout the center, as well as new seating and signage. The park features 30,000 square feet of space dedicated to wellness, beauty and dining for concepts including Sweetgreen, Sweathouz, All Eye Care Doctors, SkinMD and Caffe Nero. Almost 50 retailers and eateries were also added to the tenant roster during the redevelopment, including Uniqlo, lululemon, Vineyard Vines, Aritzia and Marc Jacobs.

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AcquisitionsRetailTexas

DIG Negotiates Sale of 221,294 SF Shopping Center in Stephenville, Texas

by Taylor Williams

STEPHENVILLE, TEXAS — Disney Investment Group (DIG) has negotiated the sale of Bosque River Centre, a 221,294-square-foot retail center located in Stephenville, about 80 miles southwest of Fort Worth. Tenants at the property, which was built in 1984, include Boot Barn, Spec’s Wine & Spirits, Tractor Supply Co., Ollie’s Bargain Outlet, Planet Fitness, Cinemark and Dollar Tree. Bosque River Center was 97 percent leased at the time of sale.  David Disney and Adam Crockett of DIG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsGeorgiaRetailSoutheast

Sterling Organization Sells Roswell Village Shopping Center in Metro Atlanta

by John Nelson

ROSWELL, GA. — Sterling Organization has sold Roswell Village Shopping Center, a retail center located in Roswell, roughly 25 miles north of Atlanta. Denver-based Revesco Properties purchased the center for an undisclosed price. Tenants at the property, which was 94 percent leased at the time of sale, include Ross Dress for Less, Marshalls and Crunch Fitness. Sterling originally acquired the center in 2014 for $10.6 million when the center’s occupancy rate was 31 percent. Jim Hamilton of JLL brokered the sale on behalf of West Palm Beach, Fla.-based Sterling.

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AcquisitionsNet LeaseNew JerseyNortheastRetail

Marcus & Millichap Brokers $6.6M Sale of Retail Property in Wayne, New Jersey

by Taylor Williams

WAYNE, N.J. — Marcus & Millichap has brokered the $6.6 million sale of a retail property in the Northern New Jersey community of Wayne. Built on 5.9 acres in 2023 and occupied by Wawa via a 20-year corporate ground lease, the property comprises a 4,736-square-foot convenience store and an eight-pump fueling station. Dean Zang and David Crott of Marcus & Millichap represented the undisclosed the seller in the transaction and procured a Maryland-based private investor as the buyer. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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AcquisitionsNew JerseyNortheastRetail

JLL Negotiates Sale of 49,974 SF Retail Center in Morristown, New Jersey

by Taylor Williams

MORRISTOWN, N.J. — JLL has arranged the sale of Shops at 40 Park, a 49,974-square-foot retail center in the Northern New Jersey community of Morristown. Built in 2010, the center was fully leased at the time of sale to tenants such as Starbucks Coffee, Roots Steakhouse, Agricola, Qdoba and AT&T. Jose Cruz, Kevin O’Hearn and J.B. Bruno of JLL represented the seller, a joint venture between Veris Residential, Woodmont Properties and an undisclosed global investment advisor, in the transaction. JLL also procured the buyer, Winfield Properties.

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DevelopmentMichiganMidwestRetail

Cosm to Anchor 1.5 MSF Development at Cadillac Square in Detroit 

by Kristin Harlow

DETROIT— Immersive entertainment concept Cosm has signed on as the anchor tenant at Development at Cadillac Square, a 1.5 million-square-foot mixed-use project scheduled to break ground in Detroit in 2025. Cosm Detroit will feature an LED dome spanning roughly 90 feet with Shared Reality technology, offering experiential sports and entertainment programming. Content will include a production of Cirque du Soleil’s “O,” as well as immersive art experiences from members of the Cosm Studios Creator Program. The venue, designed by architecture firm Rosetti, will also feature a food-and-beverage element, with gastropub-style dining, craft cocktails and a curated beer selection.

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AcquisitionsIllinoisMidwestRetail

Kiddie Academy Acquires Three Acres in Vernon Hills, Illinois

by Kristin Harlow

VERNON HILLS, ILL. — Vic Gulati, a Kiddie Academy franchisee, has purchased a 3.3-acre parcel at 300 N. Fairway Drive in the Chicago suburb of Vernon Hills for an undisclosed price. The property marks Gulati’s third Kiddie Academy location, following those in Arlington Heights and Mount Prospect. Kendall Graff and Grant Gary of Woodmont Co. represented Gulati in the transaction, while Brett Kroner of Cushman & Wakefield represented the seller, JRW 2002 LLC.

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LoansMontanaRetailWestern

Wood Investments Secures $20.3M Refinancing for Shopping Center in Helena, Montana

by Amy Works

HELENA, MONT. — Wood Investments Cos. has secured a $20.3 million permanent loan from Wells Fargo for Helena Skyway Regional Shopping Center. Situated at 2005 Cromwell Dixon Lane, Helena Skyway Regional offers 164,121 square feet of retail space. Current tenants include T.J. Maxx, Ulta Beauty and Hobby Lobby. Sierra Trading Post and Chick-fil-A recently signed leases to occupy space at the property, bringing the asset to 100 percent occupancy.  

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