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AcquisitionsCaliforniaRetailWestern

Newmark Brokers Sale of 24,867 SF Midtown Plaza Retail Center in Walnut Creek, California

by Amy Works

WALNUT CREEK, CALIF. — Newmark has completed the sale of Midtown Plaza, an urban retail center in the Bay Area city of Walnut Creek. The asset traded for an undisclosed amount. Nicholas Bicardo, Rick Steffens and Cheyne Bloch of Newmark represented the undisclosed seller, while L&B Realty Advisors represented the buyer, an institutional client. The 24,867-square-foot property is located at 1410-1444 N. California Blvd. and 1620-1630 Cypress St. and includes a surface parking lot. At the time of sale, the shopping center was 100 percent leased to a variety of food, home improvement and service retail tenants, including Galpao Gaucho Brazilian Steakhouse and Premier Bath & Kitchen.

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AcquisitionsNortheastPennsylvaniaRetail

Friedman Real Estate Negotiates Sale of 14,560 SF Retail Building in Glassport, Pennsylvania

by Taylor Williams

GLASSPORT, PA. — Michigan-based brokerage firm Friedman Real Estate has negotiated the sale of a 14,560-square-foot, single-tenant retail building in Glassport, a southern suburb of Pittsburgh. Rite Aid occupies the building, which is located at 210 Ninth St. Steven Silverman and Ryan Wilner of Friedman Real Estate represented the seller in the transaction. Additional terms of sale were not disclosed.

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DevelopmentRetailSoutheastTennessee

BrightColors, Kingsmen Xperience to Open 30,000 SF Crayola Attraction in Pigeon Forge, Tennessee

by John Nelson

PIGEON FORGE, TENN. — BrightColors LLC and partner Kingsmen Xperience Inc. have announced plans with crayon giant Crayola to open a 30,000-square-foot Crayola Experience in Pigeon Forge. Upon completion, the indoor family entertainment center will feature 20 interactive experiences and a retail store. The Pigeon Forge location marks the sixth attraction for the brand, which has opened venues in Pennsylvania, Florida, Minnesota, Texas and Arizona. Four additional Crayola Experience locations will open over the next five years, the locations of which were not disclosed.

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AcquisitionsFloridaRetailSoutheast

Cushman & Wakefield Arranges Sale of 237,498 SF Shopping Center in Boca Raton, Florida

by John Nelson

BOCA RATON, FLA. — Cushman & Wakefield has arranged the sale of Shadowwood Square, a 237,498-square-foot shopping center located in Boca Raton. Constructed in 1982, the property is anchored by Sprouts Farmers Market, Walgreens and Old Navy. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity controlled by Evelyn Langlieb Greer doing business as Shadowwood Square Ltd. An affiliate of Edens acquired the property for an undisclosed price.

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AcquisitionsRetailTexas

Partners Real Estate Negotiates Sale of 8,000 SF Retail Property in Fort Stockton, Texas

by Taylor Williams

FORT STOCKTON, TEXAS — Partners Real Estate has negotiated the sale of an 8,000-square-foot retail property that is leased to Dollar General in the West Texas city of Fort Stockton. According to LoopNet Inc., the freestanding, single-tenant building at 1001 W. Dickinson Blvd. was originally constructed in 1994. The buyer and seller were both Houston-based investment firms that  requested anonymity. Evan Altemus of Partners brokered the deal.

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 7,391 SF Retail Strip Center in Spring, Texas

by Taylor Williams

SPRING, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of Gosling Green, a 7,391-square-foot retail strip center in Spring, a northern suburb of Houston. The property was fully leased at the time of sale. Jake Dutson of STRIVE represented the seller in the transaction and Hudson Lambert, also with STRIVE, represented the buyer. Both parties were private investors that requested anonymity.

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CaliforniaLoansRetailWestern

URW Receives $925M in Financing for Westfield Century City Mall in Los Angeles

by Amy Works

LOS ANGELES — Unibail-Rodamco-Westfield (URW) has received $925 million in new financing for Westfield Century City, a 1.4 million-square-foot mall in Los Angeles. URW fully owns the mall, which was 95 percent occupied at the time of financing. The financing is in the form of a two-year, floating-rate commercial mortgage-backed security (CMBS). 

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Sprouts-Farmers-Market-Queen-Creek-AZ
ArizonaDevelopmentRetailWestern

Sprouts Opens 50,000 SF Grocery Store at Vineyard Towne Center in Queen Creek, Arizona

by Amy Works

QUEEN CREEK, ARIZ. — Sprouts Farmers Market has opened a 50,000-square-foot store at Vineyard Towne Center, a 23-acre retail development that Vestar is currently developing in the Phoenix suburb of Queen Creek. Sprouts is the anchor tenant of Phase I of the project. A 145,000-square-foot Target is scheduled to open in April 2025 and anchor the development’s Phase II. Other tenants at Phase I, which is currently 90 percent leased, include Chunk Cookies, Cinnaholic, Dentists of Queen Creek, European Wax Center, MOD Pizza, Mountain America Credit Union, Mr. Pickles, Nekter Juice Bar, Ono Hawaiin BBQ, Over Easy and Zara Nail Bar. 

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AcquisitionsIllinoisMidwestRetail

AXIS 360 Brokers $3.3M Sale of Shuttered Movie Theater in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the $3.3 million sale of the former Ovation 10 Entertainment Complex in the Chicago suburb of Bloomington. Located at 415 Detroit Drive, the property originally opened as Carmike Cinemas in 1999 and was renovated in 2015 to include a full-size kitchen and bar with in-theater dining service. The Ovation Cinema Grill closed at the start of the pandemic and never reopened after parent company, New Vision Theaters, filed for bankruptcy. Michael O’Neal and Meghan O’Neal-Rogozinski of AXIS 360 represented the seller, NV Propco Acquisition. Sherye Przybyla of Berkshire Hathaway Home Services represented the buyer, FMB Holding Inc.

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