ARLINGTON, TEXAS — Cushman & Wakefield has negotiated the sale of Cooper Oaks Crossing, a 86,766-square-foot shopping center in Arlington. The center sits on an 11-acre site and was 96 percent leased at the time of sale to tenants such as Planet Fitness and Red White & Blue Thrift Store. Kris Von Hohn of Cushman & Wakefield represented the seller, Houston-based Serac Capital Partners, in the transaction. The buyer was an entity doing business as Ledbetter Holdings LLC.
ARCADIA, CALIF. — DAUM Commercial Real Estate Services has arranged the purchase of a 5,000-square-foot restaurant space in Arcadia. Dream1212 LLC, the owner of Mama Lu’s Dumpling House, acquired the property from an undisclosed seller for $4 million. The traditional Chinese restaurant occupies the restaurant space at 1212 S. Baldwin Ave. The Arcadia property serves as Mama Lu’s sixth location. Rudy Lara, Nick Peukpiboon, Nathan Lara and Andrew Lara of DAUM represented the buyer in the deal.
MANSFIELD, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Village at Broad II, a 17,112-square-foot retail strip center in Mansfield, a southern suburb of Fort Worth. The center was fully leased at the time of sale to tenants such as The Mill breakfast restaurant, TeaLatte Bar, SugaringNYC and fitness concept F45 Training. Hudson Lambert of STRIVE represented the locally based seller and procured the Nebraska-based buyer in the transaction. Both parties requested anonymity.
ROSEMONT, ILL. — Nicholas & Associates is nearing completion of its new $34.5 million indoor ice arena in the Chicago suburb of Rosemont. With precast concrete up and joists and roof decking installed, the building’s shell is 95 percent finished. Construction is on track for an August 2025 opening. Located on 3 acres north of Allstate Arena, the 103,000-square-foot arena will offer ice time for youth hockey groups and figure skating, evening ice time for adult hockey leagues and exclusive daytime use by the Chicago Wolves professional hockey team, which currently practices in Hoffman Estates and plays games at Allstate Arena. Designed by architectural firm ARCON Associates Inc., the project will feature a family-friendly mezzanine-level restaurant, bar with viewing area overlooking both rinks, grab-and-go concept and a physical therapy clinic and gym. The arena will be operated by the Nicholas Family of Cos.’ Spectate Group, which also manages Nicholas Sportsplex, an indoor-outdoor sports complex in Mount Prospect. Spectate Group will pay the Village of Rosemont an annual licensing fee to operate and manage the year-round facility. Under the agreement, both parties will be able to sell naming rights and sponsorships inside and outside the building.
TEMPLE TERRACE, FLA. — SRS Real Estate Partners has brokered the $4 million sale of Telecom Village, a 6,323-square-foot, multi-tenant retail property in the Tampa suburb of Temple Terrace. At the time of sale, the property was fully occupied by four tenants: Foxtail Coffee Co., Zoom Tan, Hummus Republic and Barberitos. Located at 7021 E. Fletcher Ave., the asset sits on roughly 1.1 acres. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the transaction. The buyer was a Tampa-based private investor who purchased the property at a 6.2 percent cap rate. Both parties requested anonymity.
COSTA MESA, CALIF. — Liberated Brands, a licensed operator of several sport, outdoor and lifestyle apparel brands, has initiated Chapter 11 bankruptcy proceedings, according to court documents filed in Delaware. Liberated Brands’ portfolio of retailers includes Volcom, Billabong, Quiksilver, ROXY, Honolua Surf, RVCA, Beachworks, Becker Surfboards, ZJ Boarding House, Spyder and Boardriders. According to Gordon Brothers, which is providing real estate advisory services to the retailer, Liberated Brands plans to close its 122 stores throughout the country. Gordon Brothers — which earlier this year entered into a sales transaction with Big Lots upon the latter’s Chapter 11 bankruptcy filing — has initiated closing sales at each of the 122 retail locations. In a statement, Liberated Brands CEO Todd Hymel cited “a series of major headwinds and challenges,” including the rise in interest rates, inflation, supply chain delays, declining consumer demand, shifting customer preferences and substantial fixed costs. Additionally, in December 2024, the company’s North American license rights for its wholesale operations under the Volcom, RVCA and Billabong brands were terminated due to a default. Founded in 2019 by Hymel, Costa Mesa-based Liberated Brands briefly enjoyed a sharp increase in product demand during the COVID-19 pandemic, with revenue increasing from $350 million in …
TALLAHASSEE, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $24 million sale of Westend Square, a 152,335-square-foot shopping center in Tallahassee. Douglas Mandel of IPA represented the seller, Steven Leoni, and procured the buyer, New York-based Milbrook Properties, in the deal. Mandel says the shopping center has upside potential as the property’s current rental rates are 25 percent below market rates. Situated within a mile from Florida State University’s campus, Westend Square was 98 percent leased at the time of sale to tenants including Five Below, Planet Fitness, Pet Supermarket, Aaron’s Rent To Own, Little Caesars Pizza, the U.S. Post Office and Citi Trends. Aldi shadow-anchors the center, which was renovated in 2022.
LITTLE ELM, TEXAS — Kroger has purchased 14 acres at the corner of U.S. Highway 380 and FM 2931 in Little Elm, located north of Fort Worth, with plans to open a new store. The deal follows last year’s announcement of developer Weber & Co. buying 22 acres at the same intersection for a 225,000-square-foot, Target anchored retail center that will be known as Bates Towne Crossing. Edward Bogel, Ryan Turner and David Davidson Jr. of Davidson Bogel Real Estate represented Kroger in the land acquisition. Stewart Flowers internally represented the locally based seller, Dollar-Flowers Realty Partners. A timeline for opening was not disclosed.
SOUTHBRIDGE, MASS. — Regional brokerage firm Chozick Realty has arranged the $11.1 million sale of Southbridge Fair, a 113,500-square-foot shopping center located along the Massachusetts-Connecticut border. Big Y World Class Market anchors the center, which was originally built on 13 acres in 1972 and renovated in 1996. The center was fully leased at the time of sale, and other tenants include Advance Auto Parts, Aubuchon Hardware, McDonald’s, Family Dollar and Great Clips. Tom Boyle of Chozick Realty represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
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Lee & Associates Report: Final Quarter 2024 Net Absorption Trends in Industrial, Office Likely Temporary; Multifamily, Retail Net Absorption Trajectories Stickier
Lee & Associates’ 2024 Q4 North America Market Report looks back at the tenant demand, absorption rates and vacancy trends for industrial, office, retail and multifamily sectors nationwide to extrapolate what might be on the horizon for 2025 and beyond. While net absorption in industrial and retail is down from the same period in 2023, the reasons — too much supply in the pipeline versus too little — are opposite for each sector. Similar mirroring due to reverse factors can be seen in the net positive absorption last quarter in office and multifamily. Net industrial absorption was down 45 percent in the last quarter of 2024, compared to the same quarter in 2023. However, vacancy rates are likely to decline this year due to a lower volume of construction starts completing in 2025. New in-office policies among prominent companies contributed to the office market’s second consecutive quarter of positive absorption, but overall, office vacancy numbers are expected to continue rising until 2026. Low vacancy and factors challenging development meant very few options for retail tenants seeking new, high-quality space. Retail tenants in the food and beverage arena have been taking advantage of increased national spending on food outside the home …