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AcquisitionsMixed-UseRestaurantRetailTexasTop Stories

Kite Realty, GIC Acquire Legacy West Mixed-Use Development in Metro Dallas for $785M

by John Nelson

PLANO, TEXAS — A partnership between Indianapolis-based Kite Realty Group (NYSE: KRG) and Singapore’s GIC has acquired Legacy West, a mixed-use development located in Plano, for $785 million. According to Kite Realty’s first-quarter earnings report that announced the transaction, Legacy West includes 344,000 square feet of retail space, 444,000 square feet of office space and 782 multifamily units. Invesco Real Estate has been the lead equity partner in Legacy West since the project’s inception in 2014, becoming the majority owner of the development in 2019. Prism Places and Mark Masinter of Open Realty Advisors handled leasing negotiations and the curation of office tenants, retailers and restauranters at Legacy West, which is now more than 95 percent leased. Tenants at the development include Louis Vuitton, Tiffany, Gucci, Tory Burch, Watches of Switzerland, Aritzia, lululemon, Chanel Beauty, Ralph Lauren and Vuori. “We’re proud to have played a role in shaping this dynamic development — one that integrates thoughtful placemaking and a carefully curated tenant mix, designed to serve the community for years to come,” says Mark Masinter, chairman of Global Retail for Newmark. Legacy West also features more than 20 various eateries, including the development’s food hall, Legacy Hall, and newer additions …

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CaliforniaLoansMixed-UseOfficeRetailWestern

SF Capital Secures $56.2M in Financing for Southern California Mixed-Use Portfolio

by Amy Works

LOS ANGELES — SF Capital has secured $56.2 million in life insurance company financing for a mixed-use retail and office portfolio located in Southern California. The 368,000-square-foot portfolio includes 215,000 square feet of office space and 153,000 square feet of retail space. The financing was arranged through SF Capital’s life company correspondent loan program. Additional terms of the financing were not released.

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CaliforniaLoansRetailWestern

JLL Arranges $27.6M Refinancing for Torrey Hills Retail Center in San Diego

by Amy Works

SAN DIEGO — JLL Capital Markets has arranged a $27.6 million loan to refinance Torrey Hills Center, an 86,467-square-foot retail center located in the Carmel Valley neighborhood of San Diego. Vons Market anchors the center. Originally built in 2005, the property is 98.4 percent leased to a mix of 26 tenants including Orangetheory Fitness, Starbucks Coffee, Wells Fargo and JETSET Pilates. Greg Brown, John Marshall, Spencer Seibring and Allie Black of JLL’s Debt Advisory team represented the borrower, a national real estate investment and management firm, in arranging the 10-year, fixed-rate loan through a correspondent insurance company.

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AcquisitionsColoradoRetailWestern

Trevey Commercial Brokers Sale of 20,375 SF Retail Property in Parker, Colorado

by Amy Works

PARKER, COLO. — Trevey Commercial Real Estate has arranged the sale of a retail property located at 12810 Stroh Ranch Court in Parker. Journey Church Colorado acquired the asset from AKM Family LLP for $5.5 million. Situated on 1.5 acres, the building, which is currently leased by La-Z-Boy, offers 20,375 square feet. David Marulli, Tommy Daher and Mitch Trevey of Trevey Commercial Real Estate represented the seller, while Tom Omdal and Katie Hummer of Kin Commercial represented the buyer in the deal.

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DevelopmentMidwestMissouriRetail

Brinkmann Constructors Completes Interior Renovation of Rolls-Royce Showroom Near St. Louis

by Kristin Harlow

CHESTERFIELD, MO. — Brinkmann Constructors has completed a 4,000-square-foot interior renovation of an existing Rolls-Royce automotive showroom in Chesterfield, a western suburb of St. Louis. The project included an interactive atelier room equipped with a kinetic lighting system that synchronizes with sound. Additional elements include a custom Pantheon door and an automatic snow melt system built into the front sidewalk. Brinkmann completed the renovation in partnership with Rolls-Royce and Holman Motorcars. ACI Boland Architects served as the project architect.

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Leasing ActivityMichiganMidwestRetail

Evexia Wellness Spa Signs 3,603 SF Retail Lease at Country Creek Commons in Metro Detroit

by Kristin Harlow

OAKLAND TOWNSHIP, MICH. — Evexia Wellness Spa has signed a 3,603-square-foot retail lease to open its second location in Oakland Township, about 32 miles north of Detroit. Evexia will occupy space at the Kroger-anchored Country Creek Commons shopping center, which is located at the northwest corner of Adams and Silverbell roads. Owen Kelly and Michael Murphy of Gerdom Realty & Investment represented the tenant, while Eric Banks of Dominion Real Estate Advisors represented the undisclosed landlord.  

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DevelopmentFloridaMixed-UseMultifamilyRetailSoutheast

Starlife Group Launches Vertical Construction for 14-Story Mixed-Use Development in Hollywood, Florida

by John Nelson

HOLLYWOOD, FLA. — Starlife Group has launched vertical construction on 21 Hollywood, a 14-story mixed-use development located in Hollywood. Designed by Miami-based architect Kobi Karp, the project will feature 200 apartments and 10,000 square feet of ground floor retail space. Starlife Builders, a subsidiary of Starlife Group, serves as 21 Hollywood’s general contractor. The project broke ground in December 2024 and completion is slated for late 2026/early 2027.  Amenities at the property will include a business center with 16-foot ceilings, coworking spaces, private conference room and a fitness center with a dedicated yoga and Pilates room. Additional offerings consist of a children’s play area, dog park and dog spa, dual cinemas and an 85-foot infinity pool that serves as the centerpiece of the outdoor space.  

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AcquisitionsNorth CarolinaRetailSoutheast

Cushman & Wakefield Arranges $19.9M Sale of Carmel Village Shopping Center in Charlotte

by John Nelson

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the sale of Carmel Village, a 53,615-square-foot retail center located in Charlotte. Situated at 7510 Pineville-Matthews Road, the center was 91 percent leased at the time of sale to tenants including Bonefish Grill, Mathnasium, Eye Care Partners, Chick-O-Rice, NY Old School Bagels and QC Tea Bar. Margaret Jones, Lane Breedlove and Miguel Alcivar of Cushman & Wakefield represented the seller, Raptor Realty Investments, in the transaction. The buyer was not disclosed.  

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DevelopmentFloridaLeasing ActivityRestaurantRetailSoutheast

Kitson & Partners Welcomes New Tenants at Shops at Yellow Pine Shopping Center in Southwest Florida

by John Nelson

PUNTA GORDA, FLA. — Kitson & Partners has begun opening the first wave of retailers at The Shops at Yellow Pine, a 120,000-square-foot shopping center located within the master-planned community of Babcock Ranch in Punta Gorda. Situated north of Crescent B Commons, a Publix-anchored shopping center, The Shops at Yellow Pine comprises three multi-tenant buildings and two standalone outparcels along Cypress Parkway. Five Guys, Marshalls, Ace Hardware, Five Below and Hope Chiropractic are already open at the center, while Panera Bread, Jersey Mike’s Subs and Verizon Wireless are expected to open in June. Several more tenants will follow later in the year, including Carvel; Papa Johns; Yummy Thai and Chinese; HomeGoods; Ulta Beauty; Aesthetics Lounge & Spa; Fountain Pools; Tipsy Nail Salon; Seymour Orthodontics; Tampa General Hospital (TGH) urgent care and medical services; and seafood and steak restaurant Oar & Iron Raw Bar & Grill, which will occupy its own building overlooking Sunset Lake. Additionally, outdoor seating areas will be available for use throughout the development, which is slated to open this summer.

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AcquisitionsRetailSouth CarolinaSoutheast

NAI Charleston Arranges Sale of 57,659 SF Shopping Center in Myrtle Beach, South Carolina

by John Nelson

MYRTLE BEACH, S.C. — NAI Charleston has arranged the sale of a 57,659-square-foot shopping center located at 201-233 International Drive in Myrtle Beach. Built in 2014, the center sits on 6.4 acres, according to LoopNet. Lowes Foods anchors the center, which is leased to a mix of local and national tenants. Thomas Boulware and Michael Branch of NAI Charleston represented the buyer in the transaction. Drew Parks of Coldwell Banker Commercial represented the seller. Both parties requested anonymity and the sales price was not released.

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