Monday, May 19, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Retail

DevelopmentFloridaRetailSoutheast

Jacksonville City Council Approves $1.4B Renovation of EverBank Stadium, Home of NFL’s Jaguars

by John Nelson

JACKSONVILLE, FLA. — The Jacksonville City Council voted 14-1 Tuesday night to approve an agreement between the city and the NFL’s Jacksonville Jaguars for the $1.4 billion renovation of EverBank Stadium. ESPN reports that the agreement needs to be ratified by 24 of the 32 NFL owners, who will review the agreement when they convene in Atlanta in October for their annual meeting. If passed, the anticipated construction timeline of the renovation would begin at the conclusion of the Jaguars’ 2025 season and deliver before kickoff of the team’s 2028 season. The Jaguars, along with Jacksonville Mayor Donna Deegan and lead negotiator Mike Weinstein, presented the renovation agreement in mid-May. “This day has been a long time coming,” says Deegan. “I am truly grateful for the partnership with the Jaguars throughout the negotiation process, and to the City Council for passing this historic deal. Together, we are turning renderings into reality for the betterment of Jacksonville.” The Jaguars released conceptual designs for the renovated EverBank Stadium last summer. The team estimates that the economic impact of the project throughout the Jaguars’ 30-year lease will total $26 billion, with an estimated $2.4 billion in one-time economic impact during construction. The deal …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAlabamaRetailSoutheast

JLL Negotiates Sale of 432,158 SF Shopping Center in Spanish Fort, Alabama

by John Nelson

SPANISH FORT, ALA. — JLL has negotiated the $33.2 million sale of Eastern Shore Centre, a 432,158-square-foot power shopping center located at 30500 Highway 181 in Spanish Fort, a suburb of Mobile, Ala. Jim Hamilton, Brad Buchanan and Andrew Nichols of JLL represented the seller, Allied Development, in the transaction. Chip Sykes, Hunter Goldberg, Hamp Gibbs and Mikey Minihan, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, Wicker Park Capital Management. Situated on 42.7 acres and shadow-anchored by Dillard’s, Eastern Shore Centre’s tenant mix includes Belk, Shoe Station, Barnes & Noble, Stock & Trade, California Dreaming, Half Shell Oyster House and Mountain High Outfitters. Wicker Park, along with property manager affiliate Crawford Square Real Estate Advisors, has plans to continue to elevate the tenant profile and activate the place-making opportunities within Eastern Shore Centre.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestRestaurantRetail

Next Realty Completes Development of Chipotle-Occupied Retail Property in Barrington, Illinois

by Kristin Harlow

BARRINGTON, ILL. — An affiliate of Next Realty LLC has completed development of a 2,460-square-foot retail property occupied by Chipotle in the northwest Chicago suburb of Barrington. Next acquired the site at 550 Hough St. in 2022 when it was a former Bank of America property. The newly reconfigured outlot has parking for 25 cars and a Chipotlane for mobile order pickups. Buildtech was the general contractor. Sarah Norlander and Elizabeth Sweeney of Mid-America Real Estate represented Next, while Steve Fishman of Mid-America represented Chipotle.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsRetailTexas

STRIVE Arranges Sale of 9,422 SF Retail Strip Center in Metro Dallas

by Taylor Williams

WAXAHACHIE, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of Shops at The Grove, a 9,422-square-foot retail strip center located in the southern Dallas suburb of Waxahachie. Tenants at the property include Bahama Bucks, Mint Exteriors, Mi Casa Mexican Cuisine and Fat Tuesday. Parker Tims and Hudson Lambert of STRIVE represented the seller, a local developer, in the transaction. Hudson Springer, also with STRIVE, represented the buyer, a local investor. Both parties requested anonymity.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityRetailTexas

Pink Sundays Opens 2,933 SF Store at Hillside Village Shopping Center in Northeast Dallas

by Taylor Williams

DALLAS — Apparel and accessories retailer Pink Sundays has opened a 2,933-square-foot store at Hillside Village, a grocery-anchored shopping center in northeast Dallas. A grand opening event took place on Saturday, June 15 and featured a DJ, door prizes, giveaway, a charm bar and permanent jewelry station hosted by local jeweler Nikki Smith. No third-party brokers were involved in the lease negotiations. Northwood Retail owns Hillside Village.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentNorth CarolinaRetailSoutheast

Branch, Columbia Acquire Development Site in Fayetteville, North Carolina for Publix-Anchored Shopping Center

by John Nelson

FAYETTEVILLE, N.C. — Branch Properties and Columbia Properties have purchased a 16.7-acre development site in Fayetteville, a city in south-central North Carolina. The Atlanta-based developers plan to break ground on Rockfish Village, a grocery-anchored shopping center that will span 76,237 square feet, including a 48,387-square-foot Publix store. Situated at the signalized intersection of Rockfish and King roads, the property will also feature 27,850 square feet of inline retail space and 2.4 acres of outparcels. Branch and Columbia plan to break ground on the development early next year and deliver the center by the end of 2025. In addition to Kingfish Village, Branch is underway on five other Publix-anchored shopping centers across the Southeast, including One Nexton in the Charleston suburb of Summerville, S.C.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsRetailSoutheastTennessee

Cushman & Wakefield | Commercial Brokers Sale of 107,000 SF Shopping Center in Manchester, Tennessee

by John Nelson

MANCHESTER, TENN. — Cushman & Wakefield | Commercial Advisors has brokered the sale of Whispering Pines, a 107,000-square-foot shopping center in Manchester, a city in Tennessee midway between Nashville and Chattanooga via I-24. Located at 2161 Hillsboro Blvd., the property was fully leased at the time of sale. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial Advisors represented the buyer, an entity doing business as BAG3 Holding LLC, in the transaction. Lane Breedlove and Margaret Jones of Cushman & Wakefield represented the seller, an entity doing business as Core Whispering Pines LLC. The sales price was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

Next Realty Sells 60,000 SF Grocery-Anchored Retail Center in Barrington, Illinois

by Kristin Harlow

BARRINGTON, ILL. — An affiliate of Next Realty LLC has sold The Shops at Flint Creek in the northwest Chicago suburb of Barrington for an undisclosed price. Heinen’s grocery store anchors the 60,000-square-foot retail center. Additional tenants include Athletico, Ascension Medical Group Illinois, Epic Burger and Club Pilates. Sean Sharko of Marcus & Millichap represented Next, which purchased the property in 2014. A private investor was the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
CFA-Murrieta-CA
AcquisitionsCaliforniaRestaurantRetailWestern

SRS Negotiates $6.1M Ground Lease Sale of Chick-fil-A-Occupied Property in Murrieta, California

by Amy Works

MURRIETA, CALIF. — SRS Real Estate Partners has arranged the $6.1 million ground lease sale of a restaurant property at 27960 Clinton Keith Road in the Inland Empire city of Murrieta. Chick-fil-A occupies the 5,000-square-foot property, which opened for business in March and has a 15-year ground lease in place. Winston Guest, Matthew Mousavi and Patrick Luther of SRS Capital Markets represented the seller and developer, Newport Beach-based Sage Investco, and the buyer, a California-based private family trust, in the all-cash transaction. The Chick-fil-A property sale is part of a break-up strategy valued in excess of $20 million for the Class A pads at The Vineyard Shopping Center, a 26.3-acre retail project anchored by Costco and ALDI.

Continue Reading
FacebookTwitterLinkedinEmail
532-540-N-Azusa-Ave-West-Covina-CA
AcquisitionsCaliforniaRetailWestern

Progressive Real Estate Partners Brokers $2.4M Sale of Value-Add Retail Strip Center in West Covina, California

by Amy Works

WEST COVINA, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail strip center in West Covina, approximately 20 miles east of Los Angeles. A San Bernardino County-based private investor sold the asset to a West Covina-based investor for $2.4 million in an all-cash transaction. Located at 532-540 N. Azusa Ave., the 7,760-square-foot property was fully occupied at the time of sale by five service-oriented tenants ranging in size from 1,300 square feet to 2,000 square feet. Current tenants include a nail salon, hair salon, martial arts school, massage studio and Friar Tux. Greg Bedell and Roxanne Klein of Progressive Real Estate Partners represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts