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Lincoln-Square-Arlington
DevelopmentRetailTexas

Trademark Unveils Plans for Redevelopment of 45-Acre Shopping Center in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Trademark Property Co. has unveiled plans for the redevelopment of Lincoln Square, a 45-acre shopping center in Arlington. The Fort Worth-based owner-operator plans to demolish about 229,000 square feet of the existing space and renovate another 65,000 square feet at the 40-year-old center beginning in the second quarter of next year. Trademark will rebrand the property as “Anthem” and redevelop it to feature 152,000 square feet of new retail and restaurant space, 125,000 square feet of office and coworking space, a hotel with up to 200 rooms and 355 apartments. Trademark acquired Lincoln Square in late 2022 and subsequently entered into a public-private partnership agreement with the City of Arlington to invest $150 million into the property’s redevelopment. Dwell Design Studio is the project architect.

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Mercado-Scottsdale-AZ
AcquisitionsArizonaRetailWestern

Ziff Real Estate Partners Buys 118,751 SF Mercado at Scottsdale Ranch Retail Center in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — Ziff Real Estate Partners (ZRP) has acquired Mercado at Scottsdale Ranch, a neighborhood retail center in the Phoenix suburb of Scottsdale. Whitestone REIT sold the asset for $26.5 million. This transaction marks ZRP’s first purchase in Arizona. Situated on more than 11 acres, Mercado at Scottsdale Ranch offers 118,751 square feet of retail space occupied by a blend of national, regional and local tenants, including Planet Fitness and Walgreens. The center serves Scottsdale Ranch, a 1,100-acre, master-planned community. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller, while Christian Chamblee and Kayla Meier provided self-representation for the buyer in the transaction.

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AcquisitionsKansasMidwestRetail

Boulder Group Arranges $1.8M Sale of Dollar General-Occupied Property in Wathena, Kansas

by Kristin Harlow

WATHENA, KAN. — The Boulder Group has arranged the $1.8 million sale of a 10,566-square-foot property occupied by Dollar General in Wathena, a city in northeast Kansas. The net-leased building is located on South Park Street, a main thoroughfare in the city. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Dollar General developer. The buyer was an individual completing a 1031 exchange.

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AcquisitionsGeorgiaRetailSoutheast

Marcus & Millichap Negotiates $4.4M Sale of Retail Center in Dahlonega, Georgia

by John Nelson

DAHLONEGA, GA. — Marcus & Millichap has negotiated the $4.4 million sale of Goldmine Village, a 28,000-square-foot retail center located in Dahlonega, about 65 miles north of Atlanta. Walmart shadow-anchors the property, which was fully occupied at the time of sale. Eric Abbott and Zach Taylor of Marcus & Millichap represented the buyer, an entity doing business as AGW Goldmine LLC, in the transaction. “This is a great long-term investment for our client,” says Abbott. “Dahlonega is a unique market in that it is directly in North Atlanta’s path of growth, but it’s tough to find inventory due to the limited retail space and barriers to entry posed by the topography.”

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DevelopmentMixed-UseRetailSoutheastVirginia

JBG Smith Announces Cancellation of 9 MSF Potomac Yard Entertainment District in Metro D.C.

by John Nelson

ALEXANDRIA, VA. — JBG Smith has announced the cancellation of Potomac Yards, an entertainment district project that would have comprised 9 million square feet within the National Landing neighborhood in Alexandria, roughly eight miles south of Washington, D.C. A partnership between the developer and Monumental Sports & Entertainment (MSE) first proposed the development — which would have been anchored by a new arena for the NHL’s Washington Capitals and NBA’s Washington Wizards — in December of last year. Completion of the project, including a global corporate headquarters for MSE, a media studio, a practice facility for the Wizards, performing arts venue and an e-sports facility, was scheduled for the end of 2028. According to JBG Smith, “discussions between Monumental, Alexandria and the Commonwealth of Virginia have been terminated.”   Shortly after JBG Smith’s announcement, MSE and Washington, D.C. Mayor Muriel Bowser inked a deal to keep the Capitals and Wizards at their current home, Capital One Arena in D.C., until at least 2050. In a press release, the developer says that “the opportunity was derailed largely due to partisan politics.” About a week before these announcements, D.C. Attorney General Brian Schwalb wrote a letter to MSE informing the organization that …

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Arranges $6.2M Sale of Central New Jersey Shopping Center

by Taylor Williams

FLEMINGTON, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. Home Goods and Ulta Beauty anchor the center as part of a roster of 26 national and local tenants. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

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CVS-pharmacy-Placentia-CA
AcquisitionsCaliforniaRetailWestern

NewMark Merrill Buys 28,800 SF CVS-Occupied Retail Building in Placentia, California

by Amy Works

PLACENTIA, CALIF. — NewMark Merrill Cos. has acquired a retail building within Placentia Town Center, a 142,666-square-foot shopping center in the Orange County city of Placentia, for an undisclosed price. CVS/pharmacy occupies the 28,800-square-foot retail building. With the acquisition of the CVS building, NewMark Merrill now owns the entire shopping center. Additional tenants include Marshalls, Ross Dress for Less, Massage Envy, Philly’s Best, KC Nails, Avalon Bagels, Courtesy Cleaners, Mr. D’s Diner & Bar, Uptown Cheapskate and Beauty Avenue.   Greg Giacopuzzi of NewMark Merrill, along with Tony Veiller of Pegasus Investments, represented NewMark Merrill in the transaction.

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EpicCentral-Grand-Prairie
Market ReportsRetailTexasTexas Market Reports

Beyond the Hype: How AI Can Drive Success at Texas Retail Centers, Mixed-Use Destinations

by Taylor Williams

By J. Wickam Zimmerman, CEO, Outside The Lines Inc. The use of artificial intelligence (AI) technology is growing in retail commerce, where it’s already helping businesses track inventory, forecast demand and suggest new products to consumers. But how does AI figure into retail real estate? Can it be used to enhance engagement and drive success at the properties themselves? Could it help entice shoppers to step away from their online shopping carts and venture out into the real world? The answer is a resounding yes, and we’re already seeing this play out in the Lone Star State. Creating Spaces That Attract & Retain With major Texas markets like Dallas-Fort Worth and San Antonio seeing record-high retail occupancy rates, many property owners are focused on capitalizing on this momentum. To keep foot traffic high and remain competitive with other local developments and online shopping, it’s more important than ever to create unique draws to centers.  A key strategy involves creative placemaking and offering experiential destinations that are increasingly bolstered by technology, including AI. To stay ahead, retail centers today must offer an experience that can’t be replicated virtually. This requires having dynamic, interactive onsite features and leveraging technologies that are just …

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AcquisitionsAlabamaRetailSoutheast

Cove Capital Acquires 130,056 SF Eastwood Village Retail Center in Birmingham

by John Nelson

BIRMINGHAM, ALA. — Cove Capital Investments has acquired Eastwood Village, a 130,056-square-foot retail center located in Birmingham. Tenants at the property, which was 96 percent occupied at the time of sale, include Ross Dress for Less, Five Below, Office Depot, Michaels, Party City and Starbucks Coffee. The acquisition marks the newest addition to Cove Capital’s DST portfolio, which includes 89 properties totaling 2.1 million square feet throughout the country. The seller and sales price were not disclosed.

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