FARMINGTON HILLS, MICH. — Thai Body and Soul, a wellness center, has signed a 1,685-square-foot retail lease at Market Place Plaza in Farmington Hills. Owen Kelly and Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord. Market Place Plaza is situated on Orchard Lake Road, just south of 13 Mile Road.
Lee & Associates’ 2025 Q4 North America Market Report looks at diverging market demand across industrial, office, retail and multifamily spaces nationwide in the last quarter. Demand continued to soften for industrial spaces, while multifamily saw a reversal: decreased demand after seven consecutive quarters of strengthening. Office saw a slow increase in net absorption, but only after six years of negative absorption; retail demand was mixed. Industrial and retail spaces contended with tariff concerns, while all four types of commercial real estate saw either decreased or slowed rent growth in the final quarter of 2025. Lee & Associates’ full, detailed market report is available to read here. The overviews for the sectors below illustrate the market landscape through data on net absorption, leasing and development activity, sales transactions and rent growth, in addition to demand. Industrial Overview: Demand Falls Under Tariff Pressure Falling demand for industrial space continued in 2025 under the added strain of the United States’ aggressive trade and tariff policies affecting commercial property markets across North America. In the United States net absorption declined again in 2025 as tenant and rent growth fell to their lowest levels since the aftermath of the financial crisis. Meanwhile, inventory growth has been scaled back …
ATASCOCITA, TEXAS — SRS Real Estate Partners has brokered the $12.5 million sale of a 42,000-square-foot retail building in Atascocita, located northeast of Houston. EōS Fitness occupies the building, which was constructed on a 4.6-acre site in 2024, on a 15-year, corporate-guaranteed lease. Patrick Luther and Matthew Mousavi of SRS represented the seller, an East Coast-based developer, in the transaction. The duo also procured the buyer, a Midwest-based private investor. Both parties requested anonymity.
FORNEY, TEXAS — EVO Entertainment will open an 82,000-square-foot entertainment venue in Forney, about 20 miles east of Dallas. The venue will feature nine theaters, 22 bowling lanes, a full-service bar and restaurant, private event spaces, an upper-level lounge area, arcade games, rock climbing walls, a ropes course, bumper cars and laser tag. The space is located within the 120-acre Village at Gateway development. Construction is underway, and the opening is slated for the fall.
WESTLAKE, FLA. — Minto Communities USA has sold a 10.6-acre development site located in the master-planned community of Westlake in South Florida’s Palm Beach County. The buyer, Lowe’s Home Centers LLC, plans to build a 134,148-square-foot Lowe’s Home Improvement store that includes a 26,601-square-foot outdoor garden center. In addition to serving customers, the new location will serve as a regional headquarters for the North Carolina-based retailer. While further details of the sale were not disclosed, site plans have been approved by the City of Westlake. According to public records, Walmart has also submitted a site plan for a future location adjacent to the future Lowe’s. Minto Communities has sold approximately half of the 2.2 million square feet approved for commercial development in Westlake, including 20 acres traded to Publix Super Markets Inc. in 2021 for a 140,000-square-foot, two-phase retail development that is now nearly fully leased.
MISSION VIEJO, CALIF. — DJM Capital has completed the sale of Gateway Center, a retail property located in Mission Viejo’s master-planned community, to Asana Partners for $51 million. Located at 23972-24042 Alicia Parkway, Gateway Center features 79,108 square feet of retail space that is 97 percent occupied. Current tenants include Chase Bank, Starbucks Coffee, San Diego County Credit Union and Pacific Dental Services. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Capital Markets represented the seller in the deal.
MISSION HILLS, CALF. — San Diego-based Location Matters has negotiated the $3.2 million sale of a single-tenant restaurant property located in the San Diego neighborhood of Mission Hills. Situated at 902 W. Washington St., the 2,505-square-foot building is occupied by contemporary American restaurant Harley Gray Kitchen & Bar, which has operated at the site for 12 years. Mike Spilky of Location Matters represented both the seller and the buyer in the transaction. The buyer plans to reposition the space with a new restaurant concept.
IOWA, MINNESOTA AND NEBRASKA — Marcus & Millichap has brokered the $41.6 million sale of the Yellow Brick Road Portfolio, a collection of 18 triple-net-leased early childhood development centers in Iowa, Minnesota and Nebraska. Spencer Berkley, Mark Ruble, Chris Lind, Zack House, Jon Ruzicka and Adam Lewis of Marcus & Millichap represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust. The portfolio included a range of lease structures and ownership entities. Two additional assets were sold separately to private buyers prior to the sale of the remaining 18 properties.
BOWIE, MD. — CBRE has negotiated the sale of Bowie Town Center, a 293,099-square-foot lifestyle center in Prince George County, bordering the eastern portion of Washington, D.C. A partnership between Nile Equity Group and Community Real Estate Co. purchased the property for an undisclosed price. Ryan Sciullo, Chris Munley, Colin Behr, Casey Smith and R.J. Mirabile of CBRE’s National Retail Partners Mid-Atlantic team represented the undisclosed seller in the transaction. Bowie Town Center was 86 percent leased at the time of sale to tenants including Bath & Body Works, Barnes & Noble, LA Fitness, Foot Locker, Famous Footwear, Lane Bryant, Macy’s, Pandora and Starbuck’s Coffee, among others.
HOUSTON — Atlanta-based home improvement retailer Floor & Décor has signed a 56,208-square-foot retail lease in southwest Houston. The space at 4800 W. Belfort Road formerly housed a Randall’s grocery store. Joan Collum of Partners Real Estate represented Floor & Décor, which expects to open the store in the second quarter, in the lease negotiations. Rebecca Le of NewQuest represented the landlord.
