Sunday, July 6, 2025
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AcquisitionsIndianaMidwestRetail

Marcus & Millichap Brokers $12.4M Sale of Retail Center in Valparaiso, Indiana

by Kristin Harlow

VALPARAISO, IND. — Marcus & Millichap has brokered the $12.4 million sale of Coolwood Plaza in Valparaiso. Anchored by a Strack & Van Til grocery store, the property is home to 11 tenants. The center is also home to a separately leased commissary space operated by Strack & Van Til that supports food preparation and distribution for 21 regional locations. Mitchell Kiven and Nicolas Kanich of Marcus & Millichap represented the seller, an entity affiliated with Chicago-based developer Weiss Entities LLC. Kiven procured the buyer, BC Wood Properties.

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AcquisitionsOklahomaRetailTexas

Bain Capital, 11North Buy Three Oklahoma City Shopping Centers for $212M

by Taylor Williams

OKLAHOMA CITY — A partnership between Boston-based Bain Capital Real Estate and New York City-based 11North Partners has purchased three open-air shopping centers in the Nichols Hills submarket of Oklahoma City for $212 million. Nichols Hills Plaza, The Triangle at Classen Curve and Classen Curve collectively comprise nearly 40 acres and have a combined occupancy rate of approximately 97 percent. Whole Foods Market and Trader Joe’s anchor the centers, which are also home to tenants such as Lululemon, Warby Parker, West Elm, Anthropologie, Sephora and Kendra Scott. The seller was not disclosed.

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Leasing ActivityRetailTexas

EōS Fitness to Open 40,000 SF Gym in Texas City, Texas

by Taylor Williams

TEXAS CITY, TEXAS —  Dallas-based EōS Fitness will open a 40,000-square-foot gym in Texas City, located southeast of Houston in Galveston County. The space is located adjacent to I-45 within a site that will be anchored by an H-E-B grocery store in the near future. NewQuest represented EōS Fitness in the lease negotiations. The landlord, First Hartford Realty Corp., was self-represented. The opening is scheduled for 2027.

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DevelopmentLeasing ActivityLouisianaRetailSoutheast

Feil Organization to Deliver First Trader Joe’s Grocery Store in New Orleans

by John Nelson

NEW ORLEANS — The Feil Organization plans to deliver a new Trader Joe’s grocery store at 2501 Tulane Ave. in New Orleans. The new 13,368-square-foot store will be the first location in New Orleans for the Monrovia, Calif.-based specialty grocer. Feil began assembling sites along Tulane Avenue in 2016 and executed the lease with Trader Joe’s in 2023. Colette Wharton and Katina Spera represented Feil internally in the lease negotiations, and Rich Lobkowicz of District Real Estate Advisors and Chris Ross of NAI Latter & Blum (now NAI Rampart) represented Trader Joe’s. The design-build team includes Sherman Strategies, SCNZ Architects and Landis Construction. Metairie Bank provided an undisclosed amount of construction financing for the project. The new Trader Joe’s is set to this summer, according to NOLA.com.

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AcquisitionsNew JerseyNortheastRetail

CBRE Negotiates $37.5M Sale of Newark Shopping Center

by Taylor Williams

NEWARK, N.J. — CBRE has negotiated the $37.5 million sale of Springfield Avenue Marketplace, a 110,551-square-foot shopping center in Newark. A 71,000-square-foot Shoprite grocery store anchors the property, which was completed in 2016 and was 97 percent leased at the time of sale. Additional tenants include McDonald’s, Taco Bell, Popeyes and T-Mobile. Jeffrey Dunne, David Gavin, Chris Munley, Colin Behr and Travis Langer of CBRE represented the seller, Goldman Sachs Alternatives, in the transaction. The team also procured the buyer, Medipower, a publicly traded Israeli investment firm. Jim Cadranell, Jon Mikula and Christian Badalamenti of JLL arranged $24.4 million in fixed-rate acquisition financing for the deal through Protective Life Corp.

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AcquisitionsColoradoRetailWestern

Sidford Capital Buys 115,461 SF Aurora Plaza Shopping Center in Colorado

by Amy Works

AURORA, COLO. — Sidford Capital has acquired Aurora Plaza, a shopping center located at 15001-15293 E. Mississippi Ave. in Aurora, from an undisclosed seller for $16 million. Built in 1982 and renovated in 2001, Aurora Plaza offers 115,461 square feet of retail space on 10.6 acres. The property, which is 80 percent occupied, is leased to 27 tenants, including Hero Dental, Kid to Kid, Rent-A-Center and Domino’s Pizza. Jason Schmidt and Austin Snedden of JLL Capital Market’s Investment Sales and Advisory team represented the seller in the deal.

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DevelopmentIllinoisMidwestOfficeRetail

Inspired by Somerset Development Breaks Ground on Phase II of Bell Works Chicagoland

by Kristin Harlow

HOFFMAN ESTATES, ILL. — Inspired by Somerset Development has broken ground on the West Side of Bell Works Chicagoland, marking the second phase of transformation of the former AT&T campus in Hoffman Estates into a “metroburb” with office, retail, dining and hospitality space. As the East Side of the project nears 95 percent occupancy, the West Side will bring more than 500,000 square feet of new space. The redeveloped West Side will include 430,000 square feet of traditional office space with approximately 35,000 square feet dedicated to fully furnished “Ready-to-Wear” suites for flexible short- and long-term leases, as well as 70,000 square feet of retail space. Completion is slated for the third quarter of 2026. Wight & Co. is the architect and npz studio+ is designing interiors. At the core of the West Side is its atrium, serving as a “Main Street” lined with storefronts, eateries and community gathering space. A skylight runs the length of the corridor, providing natural light. In tandem with the groundbreaking is the opening of Bell Market, a new culinary destination offering a selection of food-and-beverage options alongside a hub for weekly entertainment and private gatherings. The concept first debuted at Bell Works New Jersey.

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AcquisitionsNorth CarolinaRetailSoutheastTop Stories

Macerich Acquires Crabtree Valley Mall in Raleigh for $290M, Plans $60M Capital Improvement Program

by Kristin Harlow

RALEIGH, N.C. — The Macerich Co. (NYSE: MAC) has acquired Crabtree Valley Mall, a Class A retail property totaling approximately 1.3 million square feet in Raleigh, for $290 million. The seller was an entity doing business as CVM Holdings LLC, according to local news outlet WRAL. The largest mall in North Carolina’s Research Triangle area, Crabtree opened in 1972 and is home to more than 200 stores and restaurants. Anchor tenants at the property include Belk and Macy’s. Additional retailers include Apple, Banana Republic, Brahmin, Brooks Brothers, Build-A-Bear Workshop, Chubbies, Coach, H&M, The LEGO Store, Michael Kors, TAG Heuer and Tommy Bahama. Kanki Japanese House of Steaks & Sushi, P.F. Chang’s China Bistro, The Cheesecake Factory, Seasons 52, Brio Italian Grill and Fleming’s Prime Steakhouse & Wine Bar are some of the mall’s restaurant tenants. According to Macerich, Crabtree generates $429 million in annual sales, $951 in sales per square foot and over 8.7 million annual visitors. “Crabtree checks all the boxes for pursuing opportunistic external growth,” says Jack Hsieh, president and CEO of Macerich. Over the course of 2025 through 2028, Macerich plans to invest roughly $60 million of redevelopment and leasing capital to maximize the center’s performance. Enhancements …

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AcquisitionsDevelopmentIndustrialNortheastPennsylvaniaRetail

Sordoni Properties Buys Historic Industrial Building in Northeast Pennsylvania, Plans Redevelopment

by Taylor Williams

DALLAS, PA. — Local investment firm Sordoni Properties has purchased the former Offset Paperback factory in the northeastern Pennsylvania city of Dallas with plans to redevelop the historic industrial building. The sales price was $5.5 million. The 16-acre facility originally opened in 1948. Sordoni’s redevelopment will feature a supermarket, convenience store and restaurant, with fitness and medical uses also in consideration. Jeff Algatt of Colliers represented Sordoni in the transaction. 

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DevelopmentNew HampshireNortheastRetail

Simon Welcomes Five New Tenants to Mall at Rockingham Park in Salem, New Hampshire

by Taylor Williams

SALEM, N.H. ­— Simon Property Group has welcomed five new tenants to The Mall at Rockingham Park, a 1 million-square-foot shopping and dining destination located about 30 miles north of Boston in Salem. Women’s apparel retailer LOFT has already opened at the property, while Kendra Scott and OFFLINE by Aerie will open this fall. Caffe Nero and Five Below are expected to open this summer.

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