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DevelopmentNorth CarolinaRetailSouth CarolinaSoutheast

Food Lion Invests $484M to Upgrade 153 Grocery Stores Across the Carolinas

by John Nelson

SALISBURY, N.C. — Food Lion is investing $484 million to enhance the customer shopping experience with 153 remodeled stores. The stores were unveiled on Nov. 5 throughout the greater Charlotte market. Founded in Salisbury in 1957, Food Lion operates more than 1,100 stores throughout 10 Southeastern and Mid-Atlantic states. Additionally, Ahold Delhaize USA, the parent company of Food Lion as well as Giant Food and Stop & Shop, recently announced it is investing $860 million for its new East Coast distribution hub in Burlington, N.C.

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AcquisitionsArizonaCaliforniaRetailWestern

Brixton Capital Forms JV with TriPost to Recapitalize Two Retail Centers in Arizona, California

by Amy Works

BEAUMONT, CALIF. AND PHOENIX — Brixton Capital has recapitalized two of its grocery-anchored retail properties in a joint venture with TriPost Capital Partners, which acquired a stake in the two-property portfolio. This transaction marks the second investment out of TriPost’s Asset Solutions strategy. The portfolio includes Marketplace Beaumont, a 177,000-square-foot shopping center in Beaumont, and Palmilla Center, a 104,000-square-foot property in Phoenix. Marketplace Beaumont is 99 percent occupied by Aldi, Ross, HomeGoods and Best Buy, and Palmilla Center is 99 percent occupied by OfficeMax, PetSmart and Dollar Tree.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $12.5M Sale of Walmart-Occupied Retail Property in Metro Chicago

by Kristin Harlow

ROLLING MEADOWS, ILL. — Marcus & Millichap has brokered the $12.5 million sale of a 130,200-square-foot retail property occupied by Walmart in the Chicago suburb of Rolling Meadows. Built in 2000 and renovated in 2016, the single-tenant property sits on 9.8 acres at 1460 Golf Road. Walmart, which recently signed a long-term lease extension with an absolute net structure backed by a corporate guarantee, has occupied the space for nearly 25 years. Ashish Vakhariya, Seth Haron, Darin Gross and Steven Weinstock of Marcus & Millichap represented the private equity fund seller and procured the institutional buyer.

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Leasing ActivityMidwestOhioRetail

Dick’s House of Sport Opens 100,000 SF Store at SouthPark Mall Near Cleveland

by Kristin Harlow

STRONGSVILLE, OHIO — Dick’s House of Sport has opened at SouthPark Mall in Strongsville, marking the first location of the retailer’s experiential concept in greater Cleveland. The two-level, 100,000-square-foot store transforms the former Sears anchor space into a destination for sports enthusiasts. Dick’s House of Sport offers customers the opportunity to try, practice and play in-store. The location features a rock-climbing wall, outdoor field, batting cages and golf simulators. Attached to the store is a field that will be used for open play, clinics, league space and as an ice rink in winter months. Dick’s Sporting Goods relocated from its former 55,000-square-foot location within the center. Owner Spinoso Real Estate Group acquired SouthPark Mall in 2021.

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DevelopmentRetailTexas

Kroger Opens 128,000 SF Store at Bonds Ranch Marketplace in Northwest Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Kroger has opened a 128,000-square-foot store as the anchor tenant at Bonds Ranch Marketplace in northwest Fort Worth. The center also features 45,000 square feet of small-shop and freestanding retail space that is home to tenants such as Starbucks, Chase Bank, Whataburger, Hollywood Feed, ATI Physical Therapy, Emerald Custom Pools, Park Village Nails, Texas Health Breeze and Heartland Dental. Weitzman is the developer and operator of Bonds Ranch Marketplace.

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AcquisitionsRetailTexas

Whitestone REIT Buys 81,407 SF Ashford Village Shopping Center in Houston

by Taylor Williams

HOUSTON — Whitestone REIT has purchased Ashford Village Center, an 81,407-square-foot grocery-anchored shopping center located in Houston. Ashford Village Center was originally built in 1979, according to LoopNet Inc. Tenants include Thanjai Mess, Ramen Bar Ichi, Japan House, Dollar Tree, Giggles and Fun, Salon Village and Japanese grocer Seiwa Market, which anchors the property.  John Indelli, Ryan West, Dawson Hastings and Max Myers of JLL represented the seller in the transaction.

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DevelopmentNew JerseyNortheastRetail

Pacific Retail Unveils Plans for Renovation of 1.2 MSF Mall in Northern New Jersey

by Taylor Williams

BRIDGEWATER, N.J. — Pacific Retail Capital Partners (PRCP) has unveiled plans for the renovation of Bridgewater Commons, a 1.2 million-square-foot mall in Northern New Jersey. The renovation will entail a reimagining of the food court, updates to lighting and interior landscaping, as well as fresh paint and bannisters throughout the center court, department store wings and mezzanine levels. PRCP acquired the property in 2023 and has spent the past two years revamping the tenant roster via the additions of retailers such as Alo Yoga, Fogo de Chão, Miniso and Pop Mart. PRCP has also rebranded the property as The Village at Bridgewater Commons. Work is now underway and is expected to be complete in the second quarter of next year.

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AcquisitionsNortheastPennsylvaniaRetail

CBRE Brokers Sale of 222,512 SF Shopping Center in Havertown, Pennsylvania

by Taylor Williams

HAVERTOWN, PA. — CBRE has brokered the sale of The Quarry Center, a 222,512-square-foot shopping center in Havertown, located west of Philadelphia. Grocer Giant and Lowe’s Home Improvement anchor the center, which was fully leased at the time of sale. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE represented the seller, an entity doing business as Quarry Center Limited Partnership, in the transaction. The team also procured the undisclosed buyer.

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AcquisitionsGeorgiaMixed-UseRestaurantRetailSoutheast

Westwood Financial Buys Glenridge Springs Retail Center in Sandy Springs, Georgia

by John Nelson

SANDY SPRINGS, GA. — Los Angeles-based Westwood Financial has purchased the retail component of Glenridge Square, a mixed-use development located at 5610 Glenridge Drive in Sandy Springs. The live-work-play property is situated adjacent to I-285 in Atlanta’s Central Perimeter submarket. The seller and sales price were not disclosed. Glenridge Square features 20,001 square feet of ground-level retail space that was 91 percent leased at the time of sale to tenants including Qdoba, Firehouse Subs, Blue Moon Pizza, Sushi Nami, Taziki’s Mediterranean, DaVinci’s Donuts, Venus Nail Lounge and Beauty Enhanced. The property also includes 168 apartments and 80,000 square feet of office space leased to tenants including Go2Foods’ headquarters (roughly 800 employees) and Haverty’s (about 3,000 employees). The offices and apartments were not included in the sale.

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Leasing ActivityRetailTexas

TruFit Athletic to Open 35,000 SF Fitness Club in North San Antonio

by Taylor Williams

SAN ANTONIO — TruFit Athletic will open a 35,000-square-foot fitness club in North San Antonio. The space, which is located within Lockhill Village Shopping Center and was formerly home to Gold’s Gym, will house a kids club, group workout spaces, personal training spaces and a recovery zone. The club will be TruFit’s eighth in the San Antonio area and is expected to open before the end of the year.

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