Wednesday, December 24, 2025
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Red Bird Center
AcquisitionsFloridaRetailSoutheast

JLL Arranges $62.1M Sale of Red Bird Shopping Center in Miami

by Abby Cox

MIAMI — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located at the intersection of Bird and Red roads in Miami. Milam’s Markets, a regional grocer based in South Florida, anchors the property, which was fully occupied at the time of sale. Additional tenants at the center include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte-based Asana Partners.

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AcquisitionsIllinoisMidwestMultifamilyRetail

Marcus & Millichap Brokers $4.4M Sale of Apartment, Retail Building in Chicago

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the $4.4 million sale of 2525 North Clark Street in Chicago’s Lincoln Park neighborhood. Totaling 7,851 rentable square feet, the asset includes 12 multifamily units and three commercial storefronts anchored by Starbucks. Kyle Stengle of Marcus & Millichap represented the seller. Mitchell Kiven of Marcus & Millichap procured the buyer, The Shiner Group, a Wilmette, Ill.-based developer and investor. The buyer plans to keep the current retailers in place and make targeted improvements to the apartment units for continued rent growth.

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Academy Sports + Outdoors
AcquisitionsLouisianaRetailSoutheast

SRS Negotiates $10.4M Sale of Retail Property in Shreveport, Louisiana Leased to Academy Sports

by Abby Cox

SHREVEPORT, LA. — SRS Real Estate Partners has negotiated the $10.4 million sale of a single-tenant retail property in Shreveport leased to Academy Sports + Outdoors. The Texas-based sporting goods retailer occupies the 72,525-square-foot building on an absolute triple-net, corporate-guaranteed lease with 13 years remaining. Built in 2018, the property is situated on roughly 7.7 acres. Michael Berk, Patrick Nutt and Chip Watson of SRS’ Capital Markets team represented the seller, a private investor, in the transaction. The buyer was a publicly traded REIT. Both parties requested anonymity.

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Bala-Cynwyd-Shopping-Center-1
Market ReportsNortheastNortheast Market ReportsPennsylvaniaRetail

Philadelphia Suburbs Draw Fresh Retail Blood

by Taylor Williams

By Taylor Williams Retail and restaurant operators looking to enter or expand within the Philadelphia metro area are increasingly looking at suburban locations, and owners of those properties and seasoned brokers within the market both say there’s more to the trend than a simple lack of availability in key urban retail nodes.  “The suburbs have been the preferred asset class — to some degree the first choice — for some retailers,” says Kari Glinski, vice president of asset management at regional owner-operator Federal Realty Investment Trust. “It started during COVID, when everybody was home, and with a lot of people living in the suburbs, we’ve seen strong demand. For well-located suburban properties, the leasing volume over the past three years has been at historical highs.” “Even over the past 12 to 24 months, supply has absolutely been constrained and should be even more constrained going forward,” Glinski continues. “For well-located properties backed by demand, new development can work. But right now, with where the cost of capital is, there’s not going to be a huge pop in new supply, thus creating a scarcity of well-located retail space.” Glinski acknowledges that since Federal Realty doesn’t operate many projects in the city, …

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KentuckyMarket ReportsRestaurantRetailSoutheastSoutheast Market Reports

Grocery Anchors Continue to Fuel Louisville’s Retail Market

by John Nelson

Louisville’s retail market continues to show strength in 2025, with grocery anchors driving much of the momentum. Despite national headwinds such as moderating rent growth and elevated construction costs, the metro has proven resilient, posting a vacancy rate of just 3.5 percent, outperforming the national benchmark of 4.8 percent, according to CoStar Group. Asking rents averaged $17.42 per square foot, reflecting steady demand across the region. At the center of this activity are grocers like Kroger, Publix and BJ’s Wholesale Club, each reshaping Louisville’s retail landscape in unique ways.  Kroger is deepening its footprint with multiple new stores, including a 123,000-square-foot location under construction on Beulah Church Road that is scheduled to open in 2026.  Publix, one of the most closely watched entrants to the Kentucky market, has expanded aggressively after opening its first store, securing 60,000 square feet at Blankenbaker Plaza and 56,000 square feet at Prospect Point.  BJ’s Wholesale Club has adopted a redevelopment approach, razing the former Sears building at Jefferson Mall to deliver a 104,000-square-foot store that opened earlier this year.  Collectively, these projects underscore the draw of essential, needs-based retail while fueling complementary leasing activity in their surrounding trade areas. Concepts gaining ground That momentum …

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DevelopmentRetailTexas

Speed Fab-Crete Completes 41,688 SF Honda Dealership in Midland, Texas

by Taylor Williams

MIDLAND, TEXAS — Speed Fab-Crete, a Fort Worth-based design-build firm and general contractor, has completed the 41,688-square-foot Classic Honda of Midland. The car dealership complex spans seven acres and houses a 36,869-square-foot main dealership building, a 3,343-square-foot pre-owned vehicle facility and a 1,476-square-foot car wash. Fort Worth-based Callahan & Freeman designed the project.

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DevelopmentMixed-UseOfficeRestaurantRetailSoutheastTennessee

Joint Venture Opens 300,000 SF Mixed-Use Building at McEwen Northside in Metro Nashville

by John Nelson

FRANKLIN, TENN. — A joint venture between Boyle Investment Co., Northwood Investors and Northwood Ravin has opened Block E, a new 300,000-square-foot mixed-use building in Franklin, a city in Nashville’s Cool Springs district. The nine-story, $125 million property is one of the anchors of the McEwen Northside mixed-use development. Block E features a modern training room, full-service fitness center, offices, ground-level retail space and a parking garage. Office tenants include TMPartners PLLC, also the project’s architect, and Designed Conveyor Systems, a supply chain company. Retail tenants include Culinary Dropout, Oak Hall and Hawkers Asian Street Food. In addition to TMPartners, the design-build team includes civil engineer Kimley-Horn and general contractor Hoar Construction. Northwestern Mutual partnered with Boyle Investment, Northwood Investors and Northwood Ravin on the project.

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PSRS-Retail-San-Diego-CA
CaliforniaLoansRetailWestern

PSRS Arranges $6.7M Refinancing for Retail Center in San Diego

by Amy Works

SAN DIEGO — PSRS has arranged $6.7 million in refinancing for a shopping center in San Diego. Totaling 65,000 square feet, the multi-tenant two-building property is occupied by Smart & Final, AutoZone and Big 5 Sporting Goods. Additionally, Burger King occupies a drive-thru restaurant pad site on a ground lease. Trevan Swierczewski and Alexander Santulis of PSRS secured the nonrecourse loan that was structured with a 15-year term and 15-year amortization.

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AcquisitionsGeorgiaMixed-UseRestaurantRetailSoutheast

Report: 26th Street Partners Acquires Krog Street Market, Adjacent Properties in Atlanta

by John Nelson

ATLANTA — Locally based 26th Street Partners has acquired Krog Street Market, a 30,000-square-foot adaptive reuse food hall and market in Atlanta’s Inman Park district, according to the Atlanta Business Chronicle. Charlotte-based Asana Partners sold the property, along with the adjacent Atlanta Stove Works, SPX Alley and Butler and Gravel buildings. The sales price was not reported, but Asana purchased the Krog District buildings in 2018 for $45.8 million. Paces Properties originally redeveloped the 1920s-era warehouse that was also formerly used as the home of Tyler Perry Studios into Krog Street Market in 2014. The property’s tenant roster includes Hop City, Fred’s Meat & Bread, Jeni’s Splendid Ice Creams, Superica, Ticonderoga Club, The Collective and The Merchant. Additionally, Patagonia has a large store at Krog District and Yeti will soon open a shop at the property, according to the Chronicle.

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DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Shake Shack to Join Tenant Mix at $5B Centennial Yards Project in Downtown Atlanta

by John Nelson

ATLANTA — Burger chain Shake Shack has signed a long-term lease for a new 3,010-square-foot restaurant at Centennial Yards, a $5 billion mixed-use development underway in downtown Atlanta. CIM Group and affiliate Centennial Yards Co. are transforming the 50-acre site that was locally known as the Gulch into a high-end entertainment and hospitality destination near Mercedes-Benz Stadium (home of the Atlanta Falcons and Atlanta United) and State Farm Arena (home of the Atlanta Hawks). The restaurant will be Shake Shack’s first location in downtown Atlanta and is expected to open next year. Other previously announced tenants joining Centennial Yards include a 5,300-square-foot Live Nation entertainment venue and Cosm, an immersive experiential sports and entertainment operator. Other food-and-beverage options include the Wild Leap brewery and Khao Thai Isan, a Thai tapas concept within The Mitchell residential tower. Shake Shack has previously announced plans to open a restaurant in another sports and entertainment district in Atlanta: The Battery, where it will backfill Wahlburger’s.

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