Retail

Merus Acquires RiverGate Mall in Metro Nashville, Plans $450M Mixed-Use Redevelopment

by John Nelson February 17, 2026

GOODLETTSVILLE, TENN. — Merus, a design-build firm that was formerly known as Al. Neyer, has purchased RiverGate Mall, an enclosed shopping mall located at 1000 Rivergate Parkway in Goodlettsville that opened in 1971. The Cincinnati-based firm is planning to transform the 57-acre site on the northern outskirts of Nashville into a $450 million mixed-use district. Merus plans to demolish the mall this spring. In its place, the firm will develop 700 multifamily units, 100 townhomes, 80 independent seniors housing units, more than 130,000 square feet of retail and dining space and a center green and plaza for community programming. “Stepping into a site like this comes with a responsibility — not just to redevelop it, but to do it right,” says Patrick Poole, senior vice president and Nashville market leader for Merus. “Our focus is taking a property designed for a different era and reimagining it as a walkable, active district where people can live, work, gather and spend time.” Merus purchased the 514,000-square-foot mall, which is situated next to Dollar General’s global headquarters, for $33 million. Bryan Belk and John Tennant of Franklin Street represented the seller, Hendon Properties, in the transaction. Hartman Simons & Wood LLP executed legal work …

February 17, 2026

Development Retail Texas

For Texas Retail Developers, There’s No Time Like The Present

by Taylor Williams February 17, 2026

By Taylor Williams The challenges are multi-faceted. The timelines are elongated. The costs are brutal. The capital is tight. The consumers’ incomes are strained. The prevailing logic favors buying over building. The list goes on. And yet some retail developers in Texas and Oklahoma see the current environment as one that represents a unique chapter in the saga of their business — one that makes them glad they do what they do. That sentiment is not just a factor of a post-COVID resurgence built on the realization that brick-and-mortar stores and e-commerce platforms work better in tandem than in opposition. And it’s not just a natural byproduct of favorable supply-demand dynamics that have pushed retail occupancies and rents to record highs in most major markets. It goes beyond being the beneficiary of new capital flows as the commercial real estate darlings of the past decade — industrial and multifamily — have experienced softening fundamentals. The feeling is, in the words of Stevie Wonder, all these things and more. “It’s a special time in this business, even if it’s a different one,” says David Neher, president at Dallas-based Rainier Development Co. “There’s a fair amount of front-end risk and planning for …

February 17, 2026

Features Retail Western Western Feature Archive

Retail Real Estate Industry Is ‘Adapting to Change,’ Says Valuation Firm IRR

by Abby Cox February 17, 2026

DENVER — The U.S. retail real estate sector is continuing to move forward — but with caution. While the industry’s fundamentals remain relatively healthy, retailers and investors are evolving their strategies and adapting to shifting consumer behaviors, according to Integra Realty Resources (IRR), a commercial real estate valuation services firm based in Denver. IRR’s 2026 Retail Report explores the trends shaping the transformation of retail real estate, and where the sector is headed next. Consumer spending has shifted, largely because of macroeconomic machinations like inflation and slower job growth. Higher-income earners still have the ability to spend, but price-conscious consumers are increasingly trying to maximize value for their dollar at discount grocery and convenience stores. IRR notes that the retail sector posted 1.7 million square feet of positive net absorption nationally, which outpaced new construction more than twelvefold at 214,00 square feet. In the third quarter of 2025, the national vacancy rate slightly declined, coming in at 10.4 percent. Anthony Graziano, CEO of IRR, emphasizes that while leasing is healthy, store closures are masking the improvement. “E-commerce pressure, retailer bankruptcies and ongoing drugstore consolidation have released significant space back into the market, and until that churn settles, vacancy will look more …

February 17, 2026

Acquisitions California Retail Western

JLL Negotiates $20.3M Sale of Embassy Plaza Retail Center in North Hollywood

by Amy Works February 16, 2026

LOS ANGELES — JLL Capital Markets has directed the sale of Embassy Plaza, a neighborhood retail center in Los Angeles’ North Hollywood submarket. A Los Angeles-based family office acquired the asset from a private seller for $20.3 million. Located at 6050-6140 Lankershim Blvd., Embassy Plaza features 70,121 square feet of retail space anchored by Superior Grocers. At the time of sale, the property was 67 percent occupied. Current tenants include Starbucks Coffee, T-Mobile, Little Caesars and additional shops. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the buyer in the transaction.

February 16, 2026

Acquisitions Retail Texas

Weitzman Negotiates Sale of 11,316 SF Retail Strip Center in Northeast Fort Worth

by Taylor Williams February 13, 2026

FORT WORTH, TEXAS — Weitzman has negotiated the sale of an 11,316-square-foot retail strip center in northeast Fort Worth. The center was fully leased at the time of sale to three tenants: Boswell Dental Care, Keke’s Breakfast Café and Victory Nail Lounge. Guillermo Lopez of Weitzman, in conjunction with Matthew Rosenfeld with The Rosenfeld Co., represented the buyer in the transaction. Tim Axilrod and Suhi Kosuri of SHOP Cos. represented the seller. Both parties requested anonymity.

February 13, 2026

Acquisitions Midwest Missouri Retail

Block & Co. Brokers Sale of 9,500 SF Retail Strip Center in Belton, Missouri

by Kristin Harlow February 13, 2026

BELTON, MO. — Block & Co. Inc. Realtors has brokered the sale of Belton Center, a 9,500-square-foot retail strip center in Belton. Block & Co. principals played a key role in the property’s original development in 2002 and have served as the ownership and property management company since its completion. The seller was the original owner of the center, and this transaction marks the first sale of the fully leased property since it was built. Block & Co. will continue to provide leasing and property management services for the new ownership. David Block, Zachary Albrecht and Grant Summers of Block & Co. represented the seller. The buyer was an out-of-state investor.

February 13, 2026

Acquisitions Development Florida Retail Southeast

Franklin Street Brokers $6.4M Sale of Retail Center in Zephyrhills, Florida

by Abby Cox February 13, 2026

ZEPHYRHILLS, FLA. — Franklin Street has brokered the $6.4 million sale of Oakview Plaza, a 47,000-square-foot retail center located in Zephyrhills, roughly 30 miles northeast of Tampa. Justin Walker, Justin Sturdivant and Dylan Morse of Franklin Street represented the seller, South Florida-based Merrimac Ventures, in the transaction. New York-based New Hyde Park Fruit Corp. was the buyer. Originally built in 1990, the center will undergo façade improvements, parking lot enhancements and lighting updates. The property’s Winn-Dixie store is also being redeveloped into an Aldi that will act as co-anchor to Archwell Health, a senior-focused primary care provider. Both stores will operate on new 10-year leases upon opening.

February 13, 2026

Arizona Market Reports Restaurant Retail Western Western Market Reports

Phoenix Net Lease Retail Demand Holds Strong

by John Nelson February 13, 2026

— By Walt Brown Jr. of Diversified Partners — Metro Phoenix continues to post strong retail market conditions, supported by expansion-ready corridors, dense and established trade areas, sustained population growth and retail sites positioned at major intersections with strong traffic counts. Even with shifting capital markets and more disciplined underwriting, retail remains one of the metro’s more consistent performers heading into 2026. A defining constraint today is the limited availability of well-located, credit-tenant triple-net product for sale. This is particularly true in “A” locations within “A” trade areas. That scarcity is keeping competition elevated for stabilized assets and reinforcing pricing for deals that offer clean income, durable tenancy and long-term visibility. At the same time, demand for credit-tenant, triple-net transactions remains strong across Arizona, with Metro Phoenix continuing to attract a meaningful share of that activity. A key driver has been capital migration and reinvestment from higher-cost Western markets, including owners selling assets in California and the Pacific Northwest and redeploying proceeds into Phoenix-area retail. For many buyers, the appeal is straightforward: growth, demographics and a business climate that supports continued tenant expansion. On the development side, the market remains supply constrained at the top end of quality. Across the …

February 13, 2026

Development Florida Retail Southeast

Ardent Receives Civic Approval for Costco-Anchored Redevelopment of Metro Orlando Mall

by John Nelson February 12, 2026

SANFORD, FLA. — The Ardent Cos. has received approval from the City of Sanford, a city in the Orlando MSA, for the redevelopment of Seminole Towne Center, a former shopping mall spanning 1.1 million square feet. The redevelopment includes construction of a new 164,585-square-foot Costco store on the 76-acre site. Taking place of the former Macy’s department store, the Costco location will include a gas station, tire center and liquor store. Ardent plans to begin site work and demolition this summer, with the Costco opening slated for second-quarter 2027. Over the past 12-plus months, the Atlanta-based owner and developer has acquired more than $115 million in six ground-up mixed-use development and redevelopment projects across the Southeast.

February 12, 2026

Acquisitions Office Retail Texas

Marcus & Millichap Brokers Sale of 107,185 SF Retail, Office Complex in Spring, Texas

by Taylor Williams February 12, 2026

SPRING, TEXAS — Marcus & Millichap has brokered the sale of Cypresswood Crossing, a 107,185-square-foot retail and office complex in the northern Houston suburb of Spring. Cypresswood Crossing consists of two buildings on a 5.6-acre site: a 90,818-square-foot multi-tenant building with both retail and office space and a 16,367-square-foot retail center. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a Dallas-based private investment firm, in the transaction. Levy and Scott Abeel procured the buyer, a Houston-based private equity firm. Both parties requested anonymity.

February 12, 2026

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