Friday, November 14, 2025
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2555-The-Alameda-Santa-Clara-CA
AcquisitionsCaliforniaRetailWestern

Bay Properties Buys University Shopping Center in Santa Clara, California for $15.9M

by Amy Works

SANTA CLARA, CALIF. — Maven Commercial has arranged the sale of University Shopping Center, a 2.9-acre retail center in the Bay Area city of Santa Clara. An entity controlled by the Bushnell family sold the asset to Bay Properties for $15.9 million, or $409 per square foot. Located at 2555 The Alameda, University Shopping Center features approximately 38,875 square feet of retail space. Tenants at the fully occupied property include Safeway, Taco Bell, Round Table Pizza and Wicked Chicken. Matthew Sheridan, Dominic Morbidelli and Santino DeRose of Maven Commercial handled the transaction.

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AcquisitionsRetailTexas

Cohen & Steers, Sterling Acquire 206,962 SF Shopping Center in Dallas

by Taylor Williams

DALLAS — A joint venture between Cohen & Steers Income Opportunities REIT and Sterling Organization has acquired a 206,926-square-foot shopping center in Dallas. The property is part of Marketplace at Highland Village, a 451,000-square-foot development that also houses a corporately owned Walmart Supercenter. The acquired portion of the property was built in 2006 was 93 percent leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, LA Fitness, DSW and Petco. Chris Gerard, Barry Brown and Erin Lazarus of JLL represented the undisclosed seller in the transaction.

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Industrial Lee & Associates Q4 2023
AcquisitionsContent PartnerDevelopmentFeaturesIndustrialLee & AssociatesLoansMidwestMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Property Owners Recalibrate Expectations Following Financing Challenge, Shifting Vacancy Rates

by Sarah Daniels

High costs, modulating occupancies and a lack of financing options reshaped the industrial, office, retail and multifamily sectors in the fourth quarter of 2023, signaling the determining factors for 2024, according to Lee & Associates’ 2023 Q4 North America Market Report. The industrial sector saw stabilizing tenant demand — the number of new buildings delivered increased in the fourth quarter, while new construction starts slowed. Meanwhile, the office sector’s struggles deepened as more than half of the office leases signed pre-2020 approach their expiration by 2026. With low-rate loans maturing into a high-rate environment, the factors troubling the office sector seem insurmountable in this decade. In the retail market, low vacancies did not lead to booming construction in that sector in the last quarter of 2023 — financing costs plus land and labor costs have hampered new development in spite of high demand. Finally, the health of multifamily markets is tied closely to geography. Sun Belt multifamily properties and their Midwest and Northeastern market counterparts are seeing reversals from the multifamily trends of 2021: formerly fast-growing Sun Belt markets are experiencing slowed rent growth or rent decline, while rent growth for slower-growing, major North and Midwestern metros has grown steadily. Lee & Associates …

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DevelopmentNew MexicoRetailWestern

Whole Foods Market to Open 47,327 SF Location in Albuquerque

by Amy Works

ALBUQUERQUE, N.M. — On Feb. 22, Whole Foods Market will open a new location at 2100 Carlisle Blvd. NE in Albuquerque. The store is the relocation of an existing Albuquerque store at 2103 Carlisle Blvd. NE, which has served the community for more than 30 years. The new, larger location will feature upgraded amenities, including expanded prepared foods and bakery departments, and a larger and more accessible parking lot. The new store will also carry an expanded product assortment, including more than 400 local items from New Mexico. Whole Foods Market Albuquerque will be open from 9:00 a.m. to 9:00 p.m. opening day. Regular store hours will be 7:00 a.m. until 9:00 p.m. MST daily.

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Athmar-Park-Denver-CO.jpg
AcquisitionsColoradoRetailWestern

Sidford Capital Buys Two Retail Centers in Colorado for $11.2M

by Amy Works

DENVER AND LITTLETON, COLO. — Sidford Capital has acquired two shopping centers, totaling 111,142 square feet, in Colorado. A Southern California-based private investor sold the portfolio for $11.2 million. The portfolio includes Athmar Park Shopping Center, a 58,204-square-foot neighborhood retail center at 1865-1935 W. Mississippi Ave. in Denver, and SouthPark Shopping Center, a 52,938-square-foot property at 131-151 and 201-215 W. County Line Road in Littleton. Athmar Park was 77.5 percent occupied at the time of sale, with Family Dollar as the anchor. SouthPark was 84.5 percent occupied at the time of sale and is shadowed anchored by Dollar Tree and Goodwill. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

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AcquisitionsNAINew JerseyNortheastRetail

NAI DiLeo-Arranges $8.6M Sale of Retail Center in Middlesex, New Jersey

by Taylor Williams

MIDDLESEX, N.J. — NAI DiLeo-Bram & Co. has arranged the $8.6 million sale of a 69,750-square-foot retail center located in Middlesex. A 57,000-square-foot SuperFresh grocery store anchors the property,  which sits on a 3.9-acre site. The center also features a 6,115-square-foot liquor store and 6,300 square feet of second-floor office space. Marc Shein of NAI DiLeo-Bram represented the undisclosed seller in the transaction. Bennett Realty & Development represented the buyer.

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IllinoisLeasing ActivityMidwestRetail

Five New Retail Tenants to Open at Deer Park Town Center in Suburban Chicago

by Kristin Harlow

DEER PARK, ILL. — Five new tenants are opening at Deer Park Town Center in the northwest Chicago suburb of Deer Park. Victoria’s Secret has already opened its 4,965-square-foot store next to Pottery Barn. Clean Juice, which offers organic and fresh cold-pressed juices and smoothies as well as sandwiches and salads, is opening this spring. The Clean Juice location will span 1,371 square feet and will be owned and operated by local franchisee Joe Carmosino. Also debuting this spring is The Shade Store, a custom window treatment company that will occupy 1,550 square feet, and Aerie, a clothing retailer that will open a 4,500-square-foot store. This fall, Ancho & Agave will open a Mexican restaurant. The Deer Park Town Center location marks the brand’s fifth restaurant in Illinois and will total 8,750 square feet with a patio and center bar. Deer Park Town Center is an outdoor lifestyle shopping center managed by JLL that features more than 60 retail, restaurant and service brands.

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Leasing ActivityMidwestOhioRestaurantRetail

PBR Cowboy Bar + Smokehouse to Open at Easton Town Center in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Professional Bull Riders (PBR) and Live! Hospitality & Entertainment have unveiled plans to open a PBR Cowboy Bar + Smokehouse at Easton Town Center in Columbus. Set to open early this year, the bar marks the 15th location for the brand nationwide and the first in Ohio. The Easton Town Center location will total 8,400 square feet with a media wall for viewing all major sporting events, multiple bars, private VIP booths, an outdoor patio, stage and mechanical bull. Easton Town Center, a shopping destination with more than 250 stores, restaurants and entertainment venues, is located within the larger Easton mixed-use development. Steiner + Associates manages and leases Easton Town Center.

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AcquisitionsDevelopmentIllinoisLeasing ActivityMidwestRetail

Fortec Purchases Former School District Headquarters in Barrington, Illinois, Inks Lease with Nest Schools

by Kristin Harlow

BARRINGTON, ILL. — Fortec, a Miami-based real estate development company focused on educational projects, has purchased the former Barrington School District headquarters in suburban Chicago for $695,000. Fortec is investing an additional $2.8 million in remodeling the building and creating an adjacent playground. The developer has signed a 17-year lease with The Nest Schools, an early childhood education operator with over 50 locations nationwide. The Nest Schools is slated to open this summer and will serve approximately 200 children ages six weeks to 12 years. Milo Spector of Northmarq represented Fortec in the transaction. Jennifer Hopkins and Olivia Czyzynski of SVN Chicago Commercial represented the seller, the Board of Education of Barrington Community Unit School District Number 220. The Barrington School District utilized the 12,413-square-foot property from the early 1970s until 2019.

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DelawareLeasing ActivityNortheastRetail

Aldi to Open 32,262 SF Grocery Store in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — German discount grocer Aldi will open a 32,262-square-foot store in Wilmington. Aldi will occupy the site at 4130 Concord Pike, which spans 3.1 acres, for the next 10 years. Jim O’Hara and Neil Killian of NAI Emory Hill Real Estate Services represented the landlord, an entity doing business as LBD Wilmington, in the lease negotiations. Jason Block of MCS represented Aldi.

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