NEWPORT BEACH, CALIF. — CrownPoint Partners, a California-based brokerage firm, has arranged the sale-leaseback of a portfolio of five gas stations in Texas. The locations were not disclosed, but the sites are situated within “high-growth” markets, according to CrownPoint. Julius Swolsky and Don Bingham III of CrownPoint represented the seller in the all-cash transaction and procured the buyer, a Delaware-based investment firm. Both parties requested anonymity.
LOS ANGELES — Insomniac Entertainment has acquired the Avalon Theatre in Los Angeles’ Hollywood submarket from Ligny LLC for $15.7 million. Located at 1735 Vine St., the two-story, 33,400-square-foot Avalon Theatre was built in 1927. Jason Lamoreaux of Coldwell Banker Commercial Real Estate Solutions represented the seller and buyer in the deal, which is the first time the property has traded hands in 50 years.
TUCSON, ARIZ. — Union Hospitality Group has purchased a 6,208-square-foot retail space at 2465 N. Campbell Ave. in Tucson. JPMorgan Chase Bank NA sold the asset for $2.4 million. Greg Furrier and Natalie Furrier of Cushman & Wakefield | PICOR represented the buyer, while Dave Hammack of Cushman & Wakefield | PICOR represented the seller in the deal.
FORT WORTH, TEXAS — Three food-and-beverage operators will open new restaurants in downtown Fort Worth. The restaurants — Polanco, Reata and Bella Genta — will be located within 500 Throckmorton, a 37-story condo tower, and 500 Taylor, an 111,000-square-foot office project. Both buildings are part of a mixed-use development that is owned by SADA Capital Partners. Opening dates were not announced.
LEAWOOD, KAN. — KBS has sold Park Place Village, a 10-building, 484,980-square-foot office and retail property in the Kansas City suburb of Leawood, for $100 million. DFW Land, a development company that specializes in the acquisition, development and sale of land in the Dallas-Fort Worth Metroplex area, was the buyer. Park Place Village was owned by KBS Real Estate Investment Trust III and purchased in 2015. Developed in phases between 2007 and 2013, the property features amenities such as boutique shops, upscale restaurants, a fitness center, bike storage, electric vehicle charging stations, onsite parking and a rooftop terrace. The surrounding area is home to shopping and entertainment venues, parking garages, the Aloft Hotel, 201 apartment units, 30 townhouses and 27 lofts. The asset was fully leased at the time of sale. Derek Fohl and Gary Carr of Newmark represented KBS in the sale with support from the brokerage firm’s Jim Postweiler, Peter Harwood, Jack Trager, Jake Paschen, Robert Hill, Chris Murphy and Austin Sheehan. Attorneys Bruce Fischer and Howard Chu along with paralegal Amanda Kennedy of Greenberg Traurig LLP represented KBS as legal counsel in the disposition. Ari Schwartzbard and Bill Weber of Newmark arranged a $62 million acquisition loan on …
BOSTON — JLL has negotiated the $83 million sale of a 28,856-square-foot retail property in Boston’s Back Bay neighborhood. Known as the Mandarin Oriental Retail Collection, the spaces are located at 772 and 776-778 Boylston St. at the base of the Mandarin Oriental Hotel and within the Prudential Center. Citizens Bank anchors the space, which was 82 percent leased at the time of sale. Other tenants include Frette, MiniLuxe and Lunette Optic. Chris Angelone, Zach Nitsche, Sam Wiesman and Anthony Cutone of JLL represented the undisclosed seller in the transaction and procured the buyer, The Hennick Group.
WALTERBORO, S.C. — Marcus & Millichap has brokered the $9.3 million sale of Shoppes at Walterboro, a 53,330-square-foot shopping center located approximately 48 miles west of Charleston. Originally built in 2007 on 7.4 acres, the center was renovated in 2024 with a new roof and awnings, as well as a resurfaced parking lot. Walmart shadow-anchors the property, which was 97 percent leased at the time of sale to tenants including Five Below, Dollar Tree, Cato Fashions, Shoe Show, It’s Fashion, AT&T and China Buffet. Al Taf of Marcus & Millichap represented the seller in the transaction. Benjamin Yelm was Marcus & Millichap’s broker of record in South Carolina.
LAS VEGAS — RA Centers has arranged $20 million in financing for Cheyenne Point Plaza, a 111,809-square-foot neighborhood center located in Las Vegas. Mariana’s Supermarkets anchors the center, which is fully leased. Other tenants include Dollar General, Intermountain Healthcare, Taco Bell, Panda Express and Subway. Raymond Arjmand and Nader Arjmand of RA secured the financing through JP Morgan.
CRESCENT CITY, CALIF. — LRE & Co. has obtained approval from the Del Norte County Planning Department for a retail development at 915 Washington Blvd. in Crescent City. Situated on an 87,120-square-foot site, the project will feature 12,000 square feet of retail space, including a quick-service restaurant building, two retail shop pads with drive-thru capabilities, multiple inline tenant spaces and two additional drive-thru pads. Construction is slated to start in early 2026.
ALGONQUIN, ILL. — Red Mountain Group Inc. has sold Algonquin Commons, a 548,000-square-foot retail power center in the Chicago suburb of Algonquin. Nuveen Real Estate was the buyer. Located along Randall Road, Algonquin Commons is home to tenants such as Trader Joe’s, The Fresh Market, Nordstrom Rack, Bob’s Furniture, Ulta Beauty, Old Navy, Dick’s Sporting Goods and Barnes & Noble. Red Mountain Group has focused on repositioning and restabilizing the center since its acquisition. Occupancy increased from 60 percent to more than 90 percent. Bill Bauman of Newmark represented Red Mountain Group in the sale.