Retail

NewMark Merrill South Sells Two-Building Melrose Landing Retail Property in Vista, California

by Amy Works March 31, 2025

VISTA, CALIF. — San Diego-based NewMark Merrill South, a subsidiary of NewMark Merrill Cos., has completed the disposition of Melrose Landing, a retail property at 2655-2665 Melrose Drive in Vista. The two single-tenant buildings, located at the corner of South Melrose Drive and Faraday Avenue, were preleased to Dutch Bros Coffee and Wendy’s prior to construction. Nouretsu Investments LLC acquired the Dutch Bros Coffee building for $2.7 million. Pat Luther of SRS Real Estate Partners represents the seller, while Jason Ehrenpreis of CBM1 represented the buyer in the deal. Tetrad Investments LLC purchased the Wendy’s property for $2.6 million. Kevin Barry of Irish Commercial represented the buyer, while NewMark Merrill South was self-represented in the transaction. NewMark Merrill’s acquisition, development, financing and leasing team for the project included John Hickman, Barret Bradley, Robert Mendoza and Sandra Kist.

March 31, 2025

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $9M Sale of Grocery Property in La Grange Park, Illinois

by Kristin Harlow March 31, 2025

LA GRANGE PARK, ILL. — Marcus & Millichap has arranged the $9 million sale of a retail property net leased to Jewel-Osco in La Grange Park, about 13 miles west of Chicago. The 46,637-square-foot building is located at 507 E. Woodlawn Ave. Jewel-Osco has operated at the property since it was built in 1964 and recently signed a 20-year lease extension through May 2044. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a life insurance company. The asset sold to a 1031 exchange investor and garnered one of the lowest cap rates for a full-service grocer in the Midwest in recent years, according to Mendoza.

March 31, 2025

Acquisitions Illinois Midwest Retail

AXIS 360 Brokers Sale of Growing Grounds Garden Center in Bloomington, Illinois

by Kristin Harlow March 31, 2025

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the sale of the Growing Grounds garden center located at 1610 S. Main St. in Bloomington. Dale Naffziger sold the property to Chad Jones, owner of Pontiac, Ill.-based Jones Country Gardens and a long-time supplier of Growing Grounds. Mike Talkington of AXIS 360 brokered the sale. Growing Grounds is known for its selection of perennials, annuals, trees and shrubs as well as its expertise in landscaping solutions.

March 31, 2025

Development Retail South Carolina Southeast

Morgan Companies to Break Ground on Publix-Anchored Shopping Center in Florence, South Carolina

by John Nelson March 31, 2025

FLORENCE, S.C. — The Morgan Cos. will develop a grocery-anchored shopping center in Florence dubbed Palmetto Place. Publix has signed a 47,000-square-foot lease to anchor the project. An additional 18,050 square feet of retail space will be available for use, as well as several outparcels for future retail development. Wes Thurmond and Robey Spratt of Atlantic Retail Properties will serve as the leasing agents for the project. Morgan Cos. will close on the land acquisition for the shopping center in the coming months, with plans to begin construction later this year. Palmetto Place is scheduled to open by late 2026.

March 31, 2025

Acquisitions Retail Southeast Virginia

Legacy Realty Group Brokers Sale of Cain Creek Shopping Center in Danville, Virginia

by John Nelson March 31, 2025

DANVILLE, VA. — Legacy Realty Group Advisors has brokered the sale of Cain Creek Shopping Center, a 59,410-square-foot retail property located at 1461 S. Boston Road in Danville, a city near the Virginia-North Carolina border. Food Lion anchors the center. Additional tenants at the property feature a mix of stores, restaurants and businesses, including Family Dollar, Danville Dental, Fabulous Beauty Supply and Isabel’s Pizza Pasta & Subs. Jacob Baruch of Legacy Realty Group Advisors represented both the buyer and seller, an affiliate of Fayetteville, Ark.-based Core Equity Partners, in the off-market transaction. The sales price was not disclosed.

March 31, 2025

Acquisitions Retail Texas

Edge Capital Markets Brokers Sale of 42,030 SF Retail Center in The Woodlands, Texas

by Taylor Williams March 28, 2025

THE WOODLANDS, TEXAS — Edge Capital Markets has brokered the sale of Colonnade of The Woodlands, a 42,030-square-foot retail center located about 30 miles north of Houston. The center is home to tenants such as Gringo’s Mexican Kitchen, School of Rock, F-45 Training, Zoo Health Club and Bear Branch Animal Hospital. Micha van Marcke and Chace Henke of Edge represented the seller, a private limited partnership, in the transaction. John Fenoglio and Brock Hudson of CBRE arranged acquisition financing for the deal on behalf of the buyer, a limited liability company sponsored by The J. Beard Real Estate Co.

March 28, 2025

Acquisitions Multifamily New York Northeast Retail

Marcus & Millichap Brokers $8M Sale of Multifamily, Retail Property in Huntington, New York

by Taylor Williams March 28, 2025

HUNTINGTON, N.Y. — Marcus & Millichap has brokered the $8 million sale of a multifamily and retail property in the Long Island community of Huntington. The three-story, 11,000-square-foot property at 356 New York Ave., which was originally built in 1965 and renovated in 2021, comprises nine residential units and three retail spaces. Michael Tuccillo of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 28, 2025

Acquisitions Nevada Retail Western

S&S Pahrump Sells Three Retail Buildings within Pahrump Valley Junction in Nevada

by Amy Works March 28, 2025

PAHRUMP, NEV. — San Diego-based S&S Pahrump has completed the sale of three retail buildings within Pahrump Valley Junction, a 140,000-square-foot retail center in Pahrump. Phoenix-based Pahrump Valley KRD acquired the assets for an undisclosed price. The transaction includes three buildings totaling 37,850 square feet on 3 acres. The buildings offer 19 retail suites and one pad within the larger shopping center, which is anchored by Albertsons, CVS and an ARCO service station. The buildings are located at 150, 240 and 250 Highway 160. Max Stone, Josh Salik and Michael Paul of Voit Real Estate Services represented the seller, while John Whistler of Las Vegas-based JW Michaels Commercial represented the buyer in the deal.

March 28, 2025

Acquisitions Michigan Midwest Retail

Marcus & Millichap Brokers $23.8M Sale of Retail Power Center in Canton, Michigan

by Kristin Harlow March 28, 2025

CANTON, MICH. — Marcus & Millichap has brokered the $23.8 million sale of Willow Creek Shopping Center in Canton. The 161,626-square-foot power center was built on 18 acres in 2004. Michaels and Marshalls are original tenants at the property, which is fully leased to eight tenants. The other retailers include Dunham’s, Crate & Barrel, Dollar Tree, Kirkland’s, Five Below and Direct Optical of Canton. Ashish Vakhariya, Darin Gross and Seth Haron of Marcus & Millichap represented the seller and procured the buyer, neither of which were disclosed.

March 28, 2025

Acquisitions Midwest Ohio Retail

Friedman Real Estate Arranges $4.8M Sale of Caliber Collision-Occupied Retail Property in Ohio

by Kristin Harlow March 28, 2025

NORTH CANTON, OHIO — Friedman Real Estate has arranged the $4.8 million sale of a 12,000-square-foot retail property occupied by Caliber Collision in North Canton, just south of Akron. The newly constructed asset is located at 1550 W. Maple Road. Marc Hildenbrand and Steven Silverman of Friedman represented the buyer in the transaction.

March 28, 2025

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