FRANKLIN, N.J. — Bounce Air Adventure Park will open a 21,000-square-foot entertainment venue in the Northern New Jersey community of Franklin. The space is located within the 268,000-square-foot Rutgers Plaza shopping center and will feature a ropes course, climbing structures, obstacle course, mini basketball court and a jungle gym with slides. Robert Elbaz of Sholom & Zuckerbrot Realty represented Bounce Air in the lease negotiations. Levin Management Corp. leases and manages Rutgers Plaza.
YUCAIPA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the pre-sale of a newly constructed single-tenant retail property located at 11361 Bryant St. in Yucaipa. Evergreen Devco sold the absolute triple-net ground lease to a San Luis Obispo County, Calif., buyer for $3.6 million. Slated to open in early to mid-December, 7-Eleven will occupy the 4,088-square-foot convenience store and fuel station under a 15-year corporate lease. Bill Asher and Jeff Lefko of Hanley Investment Group, in conjunction with Jeff Stanley of Lee & Associates, represented Evergreen Devco, while John Hans of Colliers represented the buyer in the deal.
WALKER, MICH. — Mid-America Real Estate Corp. has brokered the sale of Green Ridge Square, a 225,307-square-foot shopping center in Walker, a northwest suburb of Grand Rapids. Shadow anchored by Target, the property is home to Best Buy, Burlington, Michaels, Urban Air, Five Below, Panera and Shoe Dept. Ben Wineman and Daniel Stern of Mid-America represented the seller, Birmingham, Mich.-based Bacall Cos. Seattle-based Bridge33 Capital was the buyer.
METAIRIE, LA. — The Feil Organization has signed Navy Federal Credit Union to a 3,300-square-foot retail lease at 3506. N. Causeway Blvd. in Metairie, about eight miles northwest of New Orleans. The new retail bank branch will sit adjacent to Causeway Plaza, an office building owned by Feil. Kirsten Early of SRSA Commercial Real Estate represented the tenant in the 10-year lease deal. Colette Wharton and Katina Spera represented Feil on an internal basis. Feil expects construction on the Navy Federal Credit Union branch to finish in fall 2026.
NORTH RIVERSIDE, ILL. — Five new retailers have signed leases to open at North Riverside Park Mall in the Chicago suburb of North Riverside. The Feil Organization owns the 1.2 million-square-foot shopping center. The leases, which include Canada Weather Gear, Lovisa Jewelry & Accessories, Boneyard Chicago, FLX Move Pilates and Hello Sweetie, bring the property to 96 percent occupancy. Most of the tenants are now open. Feil acquired the mall in 2004 and completed an $8 million capital improvement plan in November 2024.
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Capital Returns as 2025 Signals a Market Reset
By Patrick McGlohn, senior managing director, Berkadia After two years of caution and recalibration, capital is flowing back into commercial real estate. The bid-ask gap between buyers and sellers is narrowing, underwriting assumptions are stabilizing and both equity and debt investors are once again finding common ground. At Berkadia, we’re seeing equity move from the sidelines to the playing field, selectively, but decisively. Equity’s Comeback: Selective, but Strong Private equity and institutional investors are increasingly re-entering the market, with activity strongest in the “Smile States,” stretching from Northern Virginia to the western states and extending into major cities like Chicago. Much of the capital is chasing value-add and opportunistic plays rather than core, stabilized assets. Over the past couple of years, many equity investors would only touch preferred equity because of valuation uncertainty, but now we’re seeing common equity return in a meaningful way. The change reflects both greater pricing clarity and a collective sense that the bottom of the market cycle has passed. Navigating the Wall of Maturities The looming wall of debt maturities remains a defining storyline for 2025 and beyond. Nearly $950 billion in commercial mortgages matured in 2025 — roughly 20 percent of all outstanding commercial …
FRISCO, TEXAS — Houston-based Whitestone REIT has purchased World Cup Plaza, a 90,391-square-foot shopping center located at the corner of Main Street and the Dallas North Tollway in Frisco. Developed in 2007 and situated adjacent to Toyota Stadium, the center is home to tenants such as Blue Goose Cantina, The Green Gator, The NOW Massage, Hikari Sushi & Grill, Lemma Coffee Roasters, Rotate Bar & Kitchen, Frisco Soccer Association and Wells Fargo Bank. The seller and sales price were not disclosed.
COLUMBIA, S.C. — New York-based Eastern Union has secured $2.9 million in financing for the acquisition of Arcadia Lakes Shopping Center, a 33,684-square-foot retail center located at 6432 Two Notch Road in Columbia. Marc Tropp of Eastern Union arranged the five-year mortgage on behalf of the buyer, CityWide Properties. The loan features a 75 percent loan-to-cost ratio and a 6.65 percent interest rate. Proceeds of the loan were used for the purchase of the shopping center, as well as for a line of credit for tenant improvements and leasing commissions. CityWide Properties is planning to upgrade the property with new exterior lighting and paint, parking lot repaving and striping and fresh landscaping. Tenants at the property include Rent-A-Center, Pizza Hut, Boost Mobile and Heights Finance.
LAKE GROVE, N.Y. — Nordstrom Rack has opened a 25,000-square-foot store in Lake Grove, located on Long Island. The space is located within the 150,000-square-foot Smith Haven Plaza shopping center. Other tenants at the shopping center include Trader Joe’s, Old Navy, Athleta and Ulta Beauty. A partnership between Breslin Realty Development Corp. and Colin Development LLC owns Smith Haven Plaza.
Phoenix Commercial Advisors Brokers Sale of Sprouts Farmers Market-Anchored Retail Center in Phoenix
PHOENIX — Phoenix Commercial Advisors has arranged the sale of Ninety Nine Ave, a grocery-anchored retail property in Phoenix. A private buyer acquired the asset from the developer for $30.7 million, or $650 per square foot, in an all-cash transaction. Situated on 5.2 acres on the northeast corner of 99th Avenue and McDowell Road, the property offers 47,201 square feet of retail space. At the time of sale, the property was 100 percent leased to a variety of tenants, including Sprouts Farmers Market, CAVA, Hand & Stone and Mountain Mike’s Pizza. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.