Monday, August 25, 2025
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MidwestRetail

11,000 SF SHOPPING CENTER IN CARPENTERSVILLE SELLS FOR $7.1M

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CARPENTERSVILLE, ILL. — Capital Real Estate Advisors LLC has purchased a 110,000-square-foot shopping center located on Western Avenue in Carpentersville, about 40 miles northwest of Chicago, for $7.1 million. Tenants at Springhill Market Place include Fifth Third Bank, Big Lots, Firestone, Auto Zone, Sherwin Williams, UPS and Fast Signs. National Realty Network represented Capital Real Estate Advisors in the transaction. Rosemont, Ill.-based Foresite Realty Partners is serving as the property manger.

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MidwestRetail

BAUM ARRANGES SALE OF RETAIL PROPERTY IN METRO CHICAGO

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WHEELING, ILL. — Baum Realty Group LLC has arranged the sale of a 14,348-square-foot retail strip center and 60,001-square-foot pad site in Wheeling, located about 28 miles north of Chicago. Danny Spitz, Greg Dietz and Ben Brichta of Baum Realty, along with Doug Renner and Gary Shvartsman of the firm’s landlord representation team, represented the seller. Baum also procured the buyer, an out-of-state investor, in the transaction. The retail property is located at 701- 749 N. Milwaukee Ave. in front of the 400-room Westin Chicago North Shore Hotel. With a 21 percent occupancy, the investment represents a value-add opportunity, according to Baum. The strip center includes 11,179 square feet of contiguous available space. Baum will continue its assignment as the leasing agent.

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NortheastRetail

TARGET TO OPEN NEW STORE IN KING OF PRUSSIA, PA.

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KING OF PRUSSIA, PA. — Target is moving into King of Prussia for the first time, with a new 165,000-square-foot store set to open in July 2014. The new store will be part of the Valley Forge Shopping Center located on West DeKalb Pike, about 20 miles northwest of Philadelphia. The location will employ approximately 200 to 250 team members and include everyday essentials and groceries, as well as Starbucks, Target Optical and Target Pharmacy. Target currently operates 1,856 total stores, of which 1,788 are in the United States and 68 are in Canada, as well as Target.com.

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RetailWestern

PHILLIPS EDISON_ARC BUYS WESTWOODS SHOPPING CENTER IN ARVADA

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ARVADA, COLO. — Phillips Edison–ARC Shopping Center REIT Inc. has purchased Westwoods Shopping Center, a 90,855-square-foot shopping center in Arvada. The purchase price was not disclosed. The center is located at 15530 & 15570 West 64th Ave. just northwest of Denver. It is currently 95.4 percent occupied and is anchored by King Soopers grocery store, a subsidiary of Kroger.

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RetailSoutheast

ACKERMAN & CO. SELLS TWO CVS/PHARMACY STORES FOR $14M

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DADE CITY AND FORT MYERS, FLA. — Ackerman & Co., an Atlanta-based commercial real estate brokerage, management, development and investment firm, has sold two net-leased CVS/pharmacy stores in Florida for nearly $14 million. Ackerman & Co. sold a CVS/pharmacy in Dade City for $5.7 million to a 1031 tax-deferred exchange buyer in an all-cash transaction. Patrick Whitney of Marcus & Millichap's Dallas office represented the buyer in the transaction. Ackerman & Co. also sold a CVS/pharmacy in Fort Myers to an affiliate of New Jersey-based Roebling Investment Co. for $8.2 million. The transaction included the buyer's assumption of the current CMBS loan. Ray Yung of Calhoun Cos. represented the buyer in the transaction.

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RetailSoutheast

CARMIKE CINEMAS BUYS 20-SCREEN THEATER IN LOUISVILLE FROM CINEMARK

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LOUISVILLE, KY. — Columbus, Ga.-based Carmike Cinemas Inc. has purchased Stonybrook 20, a movie theater in Louisville that features an IMAX screen. Carmike Cinemas purchased the theater from Cinemark USA Inc., a wholly owned subsidiary of Cinemark Holdings Inc. Carmike also purchased two other theaters from Cinemark — Ritz Center 16 in Voorhees, N.J., and Hickory Creek 16 in Hickory Creek, Texas.

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RetailSoutheast

KLNB RETAIL BROKERS THREE LEASES AT TYSONS WEST TOTALING 130,000 SF

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LEESBURG, VA. — Towson, Md.-based KLNB Retail has brokered three leases totaling nearly 130,000 square feet of retail space at Tysons West, a new transit-oriented development in Leesburg. The development is located at 1500 Cornerside Blvd. The three tenants include an 80,000-square-foot Walmart Supercenter, a 45,000-square-foot 24 Hour Fitness and a 3,027-square-foot Noodles & Co. John Meyer and Brian Finkelstein of KLNB Retail represented Walmart and 24 Hour Fitness in the lease transactions. Andrew Feldman and Ryan Wilner, also of KLNB, represented Noodles & Co. The JBG Cos. developed Tysons West, which is configured to support more than 400,000 square feet of office space, more than 250,000 square feet of retail space, 700 residential units and a 350,000-square-foot hotel. The development is located adjacent to the Spring Hill Station of the Washington Metro system, which is expected to open later this year.

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RetailTexas

CBRE BROKERS 68,440 SF MOCKINGBIRD DEPOT RETAIL SALE IN DALLAS

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DALLAS — CBRE’s Private Capital Group in Dallas has arranged the sale of the 68,440-square-foot Mockingbird Depot retail property near Dallas Love Field Airport. Located at 2601-2727 W Mockingbird Lane, the shopping center was 100 percent leased at the time of sale and features a J. Hilburn Men’s Clothing store. ATR & Associates of Dallas purchased the property for an undisclosed amount. Jennifer Pierson and Beth Pierson of CBRE represented the seller.

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