ORANGE PARK, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7 million in financing for a 109,895-square-foot, single-tenant retail property in Orange Park, a suburb of Jacksonville. BJ’s Wholesale Club occupies the building. Garrett Fierstein of MMCC secured the financing through a local credit union on behalf of the borrower, a private client.
CHESTERFIELD, MO. — The Staenberg Group (TSG) has begun utility work and site grading for Downtown Chesterfield, the redevelopment of the former Chesterfield Mall site into a mixed-use destination in suburban St. Louis. This phase of work includes utility installation and relocation needed to support future development as well as site grading focused on the new road network and the 3.3-acre park that will serve as the centerpiece of Downtown Chesterfield. These early infrastructure improvements help transition the project site from demolition to active development. Plans call for a mix of residential, hotel, restaurant, entertainment, office and community spaces. The overall project’s price tag is $2 billion, according to The St. Louis Business Journal.
SPRING HILL, TENN. — GBT Realty has submitted plans to develop a Sprouts Farmers Market grocery store to anchor Port Royal Marketplace, a planned retail center in Spring Hill, approximately 35 miles south of Nashville. Following city approvals, GBT anticipates construction to commence in early 2026, with completion planned for early 2027. Situated on the southwest corner of Duplex and Port Royal roads, Port Royal Marketplace is expected to total 46,000 square feet and will feature a 23,000-square-foot Sprouts and 16,000 square feet of inline shops, as well as a 6,800-square-foot shop building. In addition, three outparcels will front Duplex Road. A range of possible tenants could include medical services, restaurants, ice cream or coffee shops, apparel and fitness retailers.
MIAMI — Allen Morris Co. has obtained a $138.5 million construction loan for Ziggurat, a mixed-use development located at 3101 Grand Ave. in Miami’s Coconut Grove neighborhood. Faisal Ashraf of Lotus Capital Partners arranged the loan through BDT & MSD Partners and BHI, the U.S. bank of Israel-based Bank Hapoalim. Further details of the financing were not released. Designed by Oppenheim Architecture, Ziggurat will comprise two buildings featuring natural stone exteriors with gardens wrapping every level. The project will be situated on a 1.7-acre site at the intersection of Grand Avenue, Matilda Street and Florida Avenue. The property will include a five-story, 100,000-square-foot trophy office building with a rooftop restaurant and a three-story building that will comprise 18 for-sale luxury condominiums and 45,000 square feet of retail space on the ground level. The condominiums will range in size from 1,254 to more than 5,000 square feet. ONE Sotheby’s International Realty is handling sales, with prices ranging from $3.5 million to $15 million. Ryan Holtzman, Andrew Trench and Brian Gale with Cushman & Wakefield will manage office leasing alongside Thad Adams with Allen Morris Co. Daniel Cardenas and Michael Sullivan with Vertical Real Estate will lead the retail leasing efforts. Allen Morris …
RIVERSIDE, CALIF. — Progressive Real Estate Partners has negotiated the $4.6 million sale of an 8,960-square-foot, multi-tenant retail building located at 18530 Van Buren Blvd. in Riverside. Built in 1996, the property is 90 percent leased to seven food- and service-oriented tenants, including Subway, H&R Block, a barbershop and a pool supply store. The retail building is part of Orangecrest Plaza, a grocery-anchored shopping center. Orangecrest Plaza features several national tenants such as Albertsons and Petco. Greg Bedell and Trinnie Lee of Progressive represented the seller, a private Orange County-based investor, in the transaction. Vicky Casey and Josh Labogin of Casey & Associates represented the buyer, a Central California-based private investor.
VISTA, CALIF. — Brixton Capital has completed the disposition of Pavilion Shopping Center, a grocery-anchored retail center in Vista. Milan Capital Management acquired the asset for $30.5 million. Located at 1900-98 Hacienda Drive, the open-air shopping center offers 137,742 square feet of retail space. At the time of sale, the property was 95.3 percent leased to a variety of tenants, including North Park Produce, Skechers, Dutch Bros Coffee, Biolife Plasma Services and Dunn-Edwards Paints. The Dutch Bros drive-thru pad building was completed in February 2025. Situated on 10.8 acres, the property underwent extensive capital improvements, including a completely renovated parking lot that was sealed and striped in March 2025. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL represented the seller. Jeff Sauze, John Chun and Allie Black of JLL secured $19.5 million in acquisition financing for the buyer.
CORONA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sale of Sierra del Oro Towne Centre, a 110,485-square-foot shopping center located in Corona. Ralphs and Dollar Tree anchor the property, which was fully leased at the time of sale. Additional tenants include Anytime Fitness, Chase Bank, Jack in the Box, Domino’s Pizza, Green River Montessori School, Wingstop, Kumon Math and Reading Center, Fantastic Sams Cut & Color and PostalAnnex. Sierra del Oro Towne Centre marks Hanley’s sixth grocery-anchored shopping center sale over the previous 12 months. Kevin Fryman and Ed Hanley represented the seller, Phillips Edison & Co., in the transaction. Jesse Millman of Newmark represented the buyer, a private 1031 exchange investor based in Northern California.
COLUMBUS, OHIO — Home furnishings retailer American Signature Inc. (ASI) has filed for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware. Founded in 1948, Columbus-based ASI is the parent company to Value City Furniture and American Signature Furniture, which operate more than 120 stores across 17 states. ASI expects to enter into a stalking horse asset purchase agreement under which, subject to court approval, ASI Purchaser LLC will acquire substantially all of the company’s assets and assume certain related liabilities. As part of the proceedings, the company also plans to lay off roughly 326 employees and close its Columbus headquarters. Value City Furniture and American Signature Furniture stores and websites are expected to remain open and will continue to fulfill customer orders and provide ongoing customer service throughout the court-supervised process. Prior to the Chapter 11 filing, certain Value City Furniture and American Signature Furniture stores commenced store closing sales and are offering deep discounts while merchandise lasts. ASI has secured approximately $50 million in debtor-in-possession financing from Second Avenue Capital Partners LLC. Subject to court approval, this financing will support certain operations and the company’s efforts to maximize value through the Chapter 11 cases …
ELMWOOD PARK, ILL. — Greenstone Partners has brokered the $5.2 million sale of Elmwood Commons, a 16,840-square-foot retail center in the Chicago suburb of Elmwood Park. The property sold to an institutional investor for the full list price. Developed in 1991, the multi-tenant center has maintained near full occupancy since its construction and features a weighted average lease tenure of 15.6 years. Longstanding tenants include FedEx Office, which has occupied its space for 34 years, Wingstop (24 years), Jimmy John’s (19 years), Betty’s (12 years) and Happy Wok (11 years). Brewster Hague of Greenstone represented the seller and procured the buyer.
TEMPLE TERRACE, FLA. — SRS Real Estate Partners has negotiated the $10.5 million sale of Fountain Shoppes, a retail center in Temple Terrace totaling 18,110 square feet. Built in 2022, the four-building property is located on a 2.6-acre site at 8942 Bertha Palmer Blvd. Fountain Shoppes was fully leased at the time of sale to seven tenants, including Starbucks Coffee, Jersey Mike’s, Rocking Crab, The Joint Chiropractic, Hand & Stone, AT&T and Chase Bank. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based investor and developer, in the transaction. The buyer was a Florida-based private investor. Both parties requested anonymity.
