EPHRATA, PA. — CBRE has brokered the sale of Ephrata Commons, a 54,810-square-foot shopping center located roughly midway between Philadelphia and Harrisburg. Regional grocer Redner’s Markets anchors the center, which is also home to tenants such as Tigon’s Nail & Spa, Wild Wings & Pizza and Gehman Jewelers. S&S Singh Partners purchased the center from Heidenberg Properties Group for an undisclosed price. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE brokered the deal.
GREENVILLE, S.C. — Ziff Real Estate Partners (ZRP), a retail investment firm based in Mount Pleasant, S.C., has sold Crosspointe Plaza, a 124,375-square-foot shopping center located in Greenville. Situated adjacent to the 1.2 million-square-foot Haywood Mall, Crosspointe Plaza is anchored by T.J. Maxx, DSW and Dollar Tree. Additional tenants at the property include 810 Billiards and Up 2 Us Furniture. ZRP originally acquired Crosspointe Plaza in 2022. Scott Israel of Colliers represented ZRP in the transaction. Atlanta-based RCG Ventures purchased the property for an undisclosed price.
ATLANTA — Commercial real estate firm CP Group has announced plans to reopen the 1.2 million-square-foot former CNN Center in downtown Atlanta this year. CP Group has repositioned the property as The Center (CTR), which is projected to open in May. The firm acquired the building from AT&T in 2021 and first announced the rebranding in 2024. CNN began moving back to its Turner Techwood campus in Midtown Atlanta in 2023. Changes at the development include a new, 12-concept dining space, dubbed CTR Food Works. Situated in the central atrium, the 24,000-square-foot CTR Food Works will be operated under Gansevoort Cos. and led by Robert Montwaid, who created Chattahoochee Food Works in Atlanta and Gansevoort Market in New York. Confirmed food-and-beverage concepts include La Tropical, Fuzzy’s, Patty & Frank’s, Mimi Taqueria, Flora D’Italia, Dessert Box and a full-service CTR bar. The restaurants and bar are expected to open in time for the FIFA World Cup, of which Atlanta is a host city. Restaurant anchor Mastro’s Ocean Club has also signed a lease at the property and will occupy an 8,200-square-foot, ground-floor space. Hines is representing CP Group in all retail leasing transactions and is advising on redevelopment strategy at the …
FORT WORTH, TEXAS — City Pickle USA has opened a 35,000-square-foot athletic facility in North Fort Worth. The site spans 3.3 acres at 8600 N. City Drive, and the facility features 16 courts, agym, full-service bar, pro shop and dedicated wellness spaces, including a sauna, cold plunge and a red light therapy room. A grand opening ceremony will take place in the coming weeks.
PITTSBURGH — CBRE has brokered the sale of a 52,750-square-foot shopping center in North Pittsburgh. Located at 4885 McKnight Road and known as McKnight Siebert, the center is home to tenants such as Walgreens, Starbucks, The UPS Store, Bruegger’s Bagels, Sport Clips and T-Mobile. First Washington Realty sold the center to full-service firm Shannon Waltchack for an undisclosed price. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE brokered the deal.
NEW BRAUNFELS, TEXAS — SRS Real Estate Partners has brokered the sale of Gruene Heights, a 25,767-square-foot retail center in New Braunfels, located northeast of San Antonio. Built on 3.5 acres in 2024, the center was fully leased at the time of sale to tenants such as Papa Johns, Garcia’s Mexican Food and Chicken Salad Chick. Cathy Nabours, Kyle Shaffer and Sam Nichols of SRS Real Estate Partners represented the seller, a San Antonio-based developer, in the transaction. The buyer was a Houston-based private investor.
WEST NYACK, N.Y. — Black Diamond Capital Management, a Connecticut-based alternative investment firm, has purchased Palisades Center, a 2.3 million-square-foot mall in West Nyack, about 35 miles north of New York City. According to the Rockland County Business Journal, Palisades Center sold for $175 million at auction after being originally listed for $463.4 million. According to Wikipedia, the shopping, dining and entertainment destination is the 12th largest U.S. mall by gross leasable area and was first developed by Pyramid Cos., ultimately opening in March 1998. Black Diamond plans to be a long-term owner of Palisades Center and to invest in various capital improvements to attract new users; the Rockland County Business Journal also reports that Palisades Center currently has two vacant anchor spaces that were previously occupied by Lord & Taylor and J.C. Penney. Spinoso Real Estate will operate the property as it has since fall 2024.
JOHNS CREEK, GA. — A new wave of retailers has joined the tenant roster at Medley, a new 43-acre mixed-use redevelopment underway in Johns Creek, about 27 miles north of Atlanta. Locally based Toro Development Co. recently announced the newcomers, which will include Shake Shack, Trader Joe’s, Kontour Medical Spa, Moop’s Boutique and Northern China Eatery. Previously announced concepts include Sephora, High Country Outfitters, BODYROK, Petfolk, CRÚ Food & Wine Bar, Fadó Irish Pub, Summit Coffee, Five Daughters Bakery, Drybar Shops, Minnie Olivia Pizzeria and Clean Your Dirty Face, among others. Set to debut officially around Halloween, Medley will offer 164,000 square feet of retail, restaurant and entertainment space; 833 luxury townhomes and apartments; The Hotel at Medley, a 150-room boutique hotel set to open in 2028; 110,000 square feet of lifestyle office space; and a 25,000-square-foot plaza. The project is located at the intersection of Johns Creek Parkway and McGinnis Ferry Road and was once a suburban office hub for State Farm Insurance.
SAN DIEGO — HP Investors has received $19 million in recapitalization financing for Gaslamp Square, a retail property at 405 5th Ave. in San Diego. Scott Peterson, Bill Chiles, Brian Cruz and Colby Matzke of CBRE arranged a floating-rate loan on behalf of the borrower. The financing features a multi-year interest-only period and a competitive structure with a maturity in 2029. Gaslamp Square features 54,856 square feet spanning a full block at 5th Avenue and J Street in downtown San Diego’s Gaslamp Quarter. The asset consists of retail condominiums and a 243-stall subterranean parking garage.
MOUNT PROSPECT, ILL. — Marcus & Millichap has negotiated the $2.9 million sale of a 22,910-square-foot retail strip center located at 1776 Algonquin Road in Mount Prospect. Mitchell Kiven, Coult Greenwell, Eric Abbott and Zachary Taylor of Marcus & Millichap represented the seller, a large property owner with a national retail portfolio, and procured the buyer, a local investor who operates a chain of grocery stores. Built in 1964, the property sits on 1.8 acres and features 13 suites. The buyer plans to improve the physical condition of the asset and work to lease second-floor space.