COLUMBUS, OHIO — American Commercial Realty (ACR) has purchased seven retail centers in Columbus totaling approximately 215,000 square feet. There are five centers on and near the “Main Street” corridor east of downtown and two properties along the Dublin-Granville corridor in the city’s northeast side. The assets include Village Centre, Beechcroft Centre, Main Hamilton Center, 5156 E Main St Centre, Wyandotte Centre and McNaughten Center. ACR also unveiled that Marx Bagels, a kosher bagel bakery from Cincinnati with roots in the Columbus market, will be taking over the space at McNaughten Center long occupied by Block’s Bagels. Palm Beach Gardens, Fla.-based ACR owns and operates more than 2.5 million square feet of commercial properties in addition to a multifamily portfolio. The portfolio marks the company’s first Columbus acquisition.
GAINESVILLE, FLA. — Prudent Growth Partners LLC, a private equity firm based in Chapel Hill, N.C., has purchased SouthGate Centre, a 24,025-square-foot retail center in Gainesville. The undisclosed seller sold the property for approximately $5.2 million. Built in 1989 within 1.5 miles from the University of Florida, SouthGate Centre was leased to 13 lifestyle and service retailers at the time of sale.
By Taylor Williams AUSTIN, TEXAS — On the surface, Austin has everything that expanding retail and restaurant operators could possibly want: youth, density, culture, high-paying jobs. Yet when these users begin scouting and diving into the state capital’s retail real estate market, they often find that entering or expanding there is much easier said than done. Skyrocketing home prices, increased vehicular congestion and limited infrastructure outside the urban core are just the most visible ways in which Austin has been somewhat victimized by its own torrid growth over the past 10 to 15 years. And each of those variables factors into retail site selection and contributes to the challenges of adding new retail and restaurant space to the market. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Simply put, if there are no rooftops, roads, parking spaces and utilities, there can be no new retail development. Such is the story in some of Austin’s more remote suburbs, though few doubt that those preliminary requirements for retail growth will eventually be delivered. But there is also the issue of raw …
— By John Read of CBRE Retail Investment Properties-West — The expression “in the black” signifies financial health, a positive outlook, investment opportunities and growth. It’s a phrase that’s resonating strongly with investors, as Orange County’s thriving retail fundamentals spur robust demand for investment properties. Despite ongoing capital market volatility and fluctuating interest rates, Orange County remains a prime target for retail property investors. The county’s strong retail property fundamentals is driven by its diverse, affluent and highly educated population. The average household income in Orange County exceeds $157,000, with more than 46 percent of residents holding a bachelor’s degree or higher. It also boasts a low unemployment rate of 3.8 percent. Retail property fundamentals concluded the fourth quarter of 2024 with a county-wide availability rate of 3.8 percent, down from the previous quarter. This reduction was fueled by sustained demand, limited inventory, minimal future supply, 547,000 square feet of positive net absorption and an average asking rent of $2.57 per square foot, a $0.13 increase from the prior year. These positive trends, combined with limited new retail property construction (only 190,000 square feet of supply, representing 0.1 percent of existing inventory and the lowest share among the nation’s 40 …
TUCSON, ARIZ. — Winterhaven Investors LLC has acquired Winterhaven Square, a retail center in Tucson, from Glover Associates LP for $5.3 million. Located at 3102-3160 E. Fort Lowell Road, Winterhaven Square offers 35,300 square feet of retail space. Greg Furrier, Rob Tomlinson and Natalie Furrier of Cushman & Wakefield | PICOR handled the transaction.
FREDERICKSBURG, TEXAS — Houston-based DC Partners will develop The Meuse, a 22-acre hospitality and retail project in Fredericksburg, about 80 miles west of Austin. Named after town founder John Meusebach and designed by Merriman Anderson Architects, The Meuse will comprise a 212-room boutique hotel and 72,300-square-foot retail district. The hotel will offer a full-service restaurant, lobby bar, event venue and a pool deck and lounge. The adjacent retail district, which will be leased by Colliers, will feature boutique shops, artisanal markets and locally inspired food-and-beverage concepts, as well as open-air spaces. Construction is scheduled to begin this spring and to be complete in late 2027.
CORNELIA, GA. — Cushman & Wakefield has arranged the sale of Habersham Village, a 146,544-square-foot shopping center located in Cornelia, about 25 miles northeast of Gainesville, Ga. Morrison Group acquired the property for an undisclosed price. Habersham Village was recently redeveloped to accommodate four anchor tenants, including T.J. Maxx, Michaels, Planet Fitness and Bealls. Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the seller, an affiliate of Atlanta-based Vanguard Associates, Inc., in the transaction.
OVERLAND PARK, KAN. — Saladworks, a Pennsylvania-based health restaurant chain, has secured its first Kansas City-area location at the Bluhawk mixed-use development in Overland Park. Grant Summers of Block & Co. Inc. Realtors co-represented the tenant along with Locate AI, a San Francisco-based commercial real estate firm. JLL represented the landlord. Saladworks’ new location will undergo a full build-out and will join other restaurants such as Red Door Woodfired Grill, Tropical Smoothie Café, Jinya Ramen Bar, Freddy’s Steakburgers, Cactus Grill and Andy’s Frozen Custard. Bluhawk features a sports facility, retail, restaurants, entertainment, multifamily, office and healthcare space. Woworks, the parent company of Saladworks, maintains more than 350 stores nationwide. Other Woworks brands include Frutta Bowls, Garbanzo Mediterranean Fresh, The Simple Greek, Barberitos and Z!Eats. Construction on the 2,048-square-foot Saladworks in Overland Park is slated for completion this fall.
ENGLEWOOD, N.J. — Regional operator Sportime Pickleball has opened a 30,000-square-foot facility in the Northern New Jersey community of Englewood. The facility is located at 62 Route 4 E and features 12 dedicated, climate-controlled courts across two interconnected buildings, as well as courtside lounges, a pro shop and a party room. Sportime Pickleball has three other facilities under construction in the area and plans to operate 15 clubs in the Tri-State area by 2031.
AUSTIN, TEXAS — Houston-based Whitestone REIT has welcomed four new tenants to Davenport Village, an open-air shopping center in northwest Austin. The tenants are Starbucks Reserve (3,274 square feet), exercise concepts Pvolve (3,126 square feet) and RVE Fitness (7,815 square feet) and flexible workspace provider CUBExec (undisclosed). The first three stores will open later this year, and CUBExec will open next spring.