COLLEGE STATION, TEXAS — College Station-based Layne’s Chicken Fingers has signed a franchise agreement to open 44 new units across Texas. Developer Eli Cohen will operate the restaurants. As part of the agreement, Cohen’s team plans to open multiple new Layne’s locations in Lubbock, with two sites already confirmed. In addition to the deal with Cohen, Layne’s has also executed a 12-unit deal with a Wendy’s operator in the Rio Grande Valley; an eight-unit deal with a former water bottling entrepreneur in West Central Texas; and a four-unit agreement with a hospitality professional in South Fort Worth. Layne’s has also recently opened new restaurants in Mission Bend, Tyler and Nacogdoches, with five additional locations expected to open across Texas before the end of the year.
SURPRISE, ARIZ. — Diversified Partners has unveiled plans to develop a new 120,000-square-foot retail development within the master-planned community of Prasada in Surprise, roughly 30 miles northwest of Phoenix. The project will feature 16 acres of pad sites, shop space, auto and storage opportunities, as well as ground lease and build-to-suit options. Current confirmed tenants include a convenience store with an attached gas station, national drive-thru restaurant brands and a veterinary clinic, with additional tenants in negotiations across dining, wellness, automotive and lifestyle categories. Delaney McGroarty of Diversified will handle leasing at the property, which was designed by RKAA Architects.
ROHNERT PARK, CALIF. — SRS Real Estate Partners has completed the $17.7 million sale of Mountain Shadows Plaza, a multi-tenant retail center at 901, 941, 967 and 968 Golf Course Drive in Rohnert Park. John Redfield and Joe Chichester of SRS Capital Markets represented the seller, a special purpose vehicle controlled by Oak Cap Ventures LLC. Situated on 7.4 acres, the five-building property features 77,651 square feet of retail space. The property was 97 percent occupied at the time of sale to a variety of tenants, including Walmart Neighborhood Market, Starbucks Coffee and Anytime Fitness.
TORRANCE, CALIF. — CB Arcadia Partners, an affiliate of Calbay Development, has completed the disposition of a freestanding retail property located at 23865 Hawthorne Blvd. in Torrance, to Madrona F&F LLC for $8.2 million. Starbucks Coffee occupies the 2,400-square-foot property, which was delivered in 2025, on a long-term, triple-net lease. The property features a drive-thru that can accommodate 20 vehicles, plus a full-size café format with indoor and outdoor seating. Alex Kozakov and Patrick Wade of CBRE represented the seller in the deal.
BIRMINGHAM, ALA. — CBRE has arranged a $57 million loan for the refinancing of Brook Highland Plaza, a 422,337-square-foot power retail center located on 52 acres along U.S. Highway 280 in Birmingham. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan through an undisclosed life insurance company on behalf of the borrower, First National Realty Partners. Brook Highland Plaza was 94.4 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Michaels, Shoe Station and Ashley Home Furniture.
CLEARWATER, FLA. — Benderson Development has purchased Clearwater Shoppes, a 216,692-square-foot shopping center located at 27001 U.S. Highway 19 N in Clearwater, a Tampa suburb in Pinellas County. Seritage Growth Properties, the retail REIT spun off from Sears Holdings, sold the shopping center to Benderson for an undisclosed price. Danny Finkle, Jorge Portela, Kim Flores and Evan Lahr of JLL represented the seller in the transaction. Situated on 14.5 acres adjacent to the 1.3 million-square-foot Countryside Mall, the shopping center’s tenant roster includes Whole Foods Market, Target and Nordstrom Rack.
SAN DIEGO — PSRS has arranged $5.6 million in refinancing for Washington Center, a shopping center in San Diego. Built in 1979, the 33,971-square-foot asset is leased to a mix of local tenants. James Mulvihill and Kevin Mulvihill of PSRS arranged the financing through one of PSRS’ correspondent life insurance company lenders. The cash-out refinance retired existing debt and provided the undisclosed borrower with additional flexibility through an option to extend the loan term.
CHICAGO — Colliers has negotiated the sale of two net-leased retail condos in Chicago’s Southport Corridor. The property at 3541-43 Southport is a 2,400-square-foot storefront leased to Paper Source with a 900-square-foot basement. The other asset is leased to Third Love, a Leap Brand company, and totals 1,150 square feet with a 450-square-foot basement. Both are situated across the street from an Anthropologie store. Chris Irwin of Colliers represented the seller, MDN Development. Westin Kane of Mid-America represented the buyer, JB Realty.
JOLIET, ILL. — Chipotle Mexican Grill has opened at Rock Run Collection in Joliet. The new restaurant features a Chipotlane drive-thru pickup lane for digital orders. The location is expected to bring approximately 30 new jobs to the Joliet area. Chipotle joins the now-open Hollywood Casino Joliet and The View at Rock Run Collection, upscale apartments that are currently leasing. Future tenants will include Drury Hotel, Chick-fil-A and Ricky Rockets. Cullinan Properties is the developer of Rock Run Collection, a mixed-use project spanning more than 300 acres at the intersection of I-55 and I-80.
ELMSFORD AND NEW YORK CITY, N.Y. — DLC, in partnership with a fund managed by DRA Advisors, has acquired a multi-state shopping center portfolio in an off-market transaction for $429 million. Totaling 2.1 million square feet, the portfolio comprises eight shopping centers across five states. The seller was not disclosed. The properties include Central Texas Marketplace in Waco, Texas; Portofino Shopping Center in the Houston suburb of Shenandoah; Watauga Pavilion in the Dallas suburb of Watauga; Shops at Park Place in Plano, Texas; Pavilion at King’s Grant in the northeast Charlotte suburb of Concord, N.C.; International Speedway Square in Daytona Beach, Fla.; Peoria Square in Glendale, Ariz.; and Belle Isle Station in Oklahoma City, Okla. The portfolio was 91.3 percent leased at the time of sale. Long-term tenants across the portfolio include Nordstrom Rack, REI, T.J. Maxx, Ross Dress for Less, Dick’s Sporting Goods, HomeGoods, Marshalls, Total Wine & More and Ulta Beauty. This portfolio marks DLC’s first retail acquisitions in Phoenix and Oklahoma and expands the company’s existing presence in Texas and Florida. In October, DLC and DRA Advisors purchased a $625 million retail portfolio on the West Coast. The two organizations have now completed more than $1.7 billion of …