Wednesday, September 17, 2025
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DevelopmentHospitalityMixed-UseNorth CarolinaRetailSoutheast

CBL, Vision Hospitality Open Element by Westin Hotel at Mayfaire Town Center in Wilmington, North Carolina

by John Nelson

WILMINGTON, N.C. — CBL Properties, in a 49/51 joint venture with Vision Hospitality, has opened a new Element by Westin hotel at Mayfaire Town Center, a 610,000-square-foot, open-air shopping mall in Wilmington. Both CBL and Vision are headquartered in Chattanooga, Tenn. The 139-room hotel is situated on International Drive and includes a lobby bar, 24/7 fitness center and complimentary bicycle rentals. Since 2024, CBL has executed retail leases exceeding 100,000 square feet at Mayfaire, including deals with Dave & Busters, Altar’d State Kids, Rowan, Free People, FP Movement, Warby Parker, Claire’s, Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop and Dry Bar. Additionally, existing tenants like lululemon athletica, Rack Room Shoes and Reed’s Jewelers have remodeled and expanded their stores at Mayfaire. CBL purchased the mall in 2015.

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DevelopmentGeorgiaLeasing ActivityRetailSoutheast

BJ’s Wholesale Club to Open 104,170 SF Grocery Store in Warner Robins, Georgia

by John Nelson

WARNER ROBINS, GA. — BJ’s Wholesale Club plans to open a new grocery store and BJ’s Gas station at 6201 Watson Blvd. in Warner Robins, nearly 100 miles south of Atlanta via I-75. The Telegraph reports that the 21-acre site will house the 104,170-square-foot grocery store and 582 parking spaces, as well as a 2,204-square-foot gas station with eight pumps that opened in late August. The new BJ’s Wholesale Club store is set to open on Friday, Sept. 12. The property represents the first BJ’s Wholesale Club store in middle Georgia and its seventh in the state, according to The Telegraph.

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AcquisitionsNew YorkNortheastRetail

CBRE Negotiates $28M Sale of Retail Space of Former New York Times Building

by Taylor Williams

NEW YORK CITY — CBRE has negotiated the $28 million sale of the 245,419-square-foot retail space within the former New York Times building at 229 W. 43rd St. and 216-226 W. 44th St. in Midtown Manhattan. Kushner bought the space in 2015 for $296 million. The space spans the first four floors and two lower levels and was 34.5 percent leased at the time of sale to tenants such as entertainment concept Lucky Strike and restaurants Tacos No. 1 and Ra Sushi. Jay Miller and A.J. Felberbaum of BayBridge Real Estate Capital represented the buyer, a Delaware-based entity doing business as Forum at Time Square LLC, in the transaction. Jack Stillwagon and Doug Middleton of CBRE represented the seller, a trust working on behalf of CMBS bondholders that took title of the property last year via a foreclosure proceeding against Kushner.

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CaliforniaLoansRetailWestern

Align REI Receives $29.5M in Financing for Oliveira Plaza Retail Center in Port Hueneme, California

by Amy Works

PORT HUENEME, CALIF. — Align REI has received $29.5 million in financing for Oliveira Plaza, neighborhood retail center in Port Hueneme in Ventura County, Calif. Greg Brown, Spencer Seibring and Nick Englhard of JLL Capital Markets secured the three-year bridge loan with a debt fund. Loan proceeds are being used to reposition a big box space at property for a new Sprouts Farmers Market. Situated on 9.3 acres at 693-749 Channel Islands Blvd., Oliveira Plaza features 116,035 square feet of retail space. Originally built in 1975 and updated over the years, Oliveira Plaza was 80 percent leased to a variety of of tenants, including West Marine Products, Dollar Tree, Bank of America, Panda Express and Carl’s Jr.

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AcquisitionsRetailWashingtonWestern

Curbline Properties, Agree Realty Buy 125,204 SF Lacey Marketplace in Washington

by Amy Works

LACEY, WASH. — Curbline Properties and Agree Realty have separately acquired portions of Lacey Marketplace, a 125,204-square-foot power shopping center in Lacey. Dino Christophilis and Daniel Tibeau of CBRE represented the undisclosed seller in the deals. Curbline Properties purchased the 31,885-square-foot retail component located at 1350 Marvin Road NE. Current tenants of the fully occupied property include Panera Bread, Mattress Firm, BECU, Verizon, Cutter’s Point Coffee and Panda Express. Agree Realty acquired the 93,319-square-foot big box component located at 1200 Marvin Road NE for $21 million. Boot Barn, La-Z-Boy, Petco, Ross Dress for Less and Ulta Beauty are tenants at the fully occupied component.

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Leasing ActivityMidwestMinnesotaRetail

JLL Negotiates Retail Leases for Six New Tenants at 1.1 MSF Rosedale Center in Metro Minneapolis

by Kristin Harlow

ROSEVILLE, MINN. — JLL has negotiated retail leases for six new tenants at Rosedale Center, a 1.1 million-square-foot shopping center in Roseville within metro Twin Cities. The leases include Kendra Scott, J.Crew Factory, Johnston & Murphy, Lolli & Pops, Paris Baguette and BRKTHROUGH. Additionally, Dick’s Sporting Goods, Legendary Spice, Boba X and Kukuri recently opened at the center. Holly Rome and Lane Walsh of JLL lead the leasing effort at Rosedale Center and secured the new leases.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $5.6M Sale of Retail Strip Center in Lombard, Illinois

by Kristin Harlow

LOMBARD, ILL. — Marcus & Millichap has brokered the $5.6 million sale of Highlands of Lombard, a retail strip center totaling 16,223 square feet in the Chicago suburb of Lombard. Built in 2007, the six-suite property is located at 2820 S. Highland Ave. across from Yorktown Center mall. The fully occupied asset features a mix of food, health and service-based tenants. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private investor based in the Chicagoland area who had owned the property for more than 17 years. The agents also procured the out-of-state buyer.

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AcquisitionsArizonaColoradoCompany NewsRetailTop StoriesWestern

PNC Agrees to Acquire FirstBank for $4.1B, Adding 95 Retail Branches in Colorado and Arizona

by John Nelson

PITTSBURGH AND LAKEWOOD, COLO. — The PNC Financial Services Group Inc. (NYSE: PNC) has entered into a definitive agreement to acquire Lakewood-based FirstBank Holding Co., including its banking subsidiary FirstBank, in a deal valued at $4.1 billion. Founded in 1963, FirstBank Holding has $26.8 billion in assets under management as of June 30 and provides commercial and retail banking services across Colorado and Arizona. The bank operates 95 FirstBank retail bank branches. PNC plans to retain all of FirstBank’s retail branches, as well as the onsite banking team members. The bank branches will be rebranded as PNC Bank branches following the closing of the merger, after which FirstBank will be fully merged into PNC Bank NA. “For decades, FirstBank has been proud to serve Colorado and Arizona with a strong community focus, deep customer relationships and dedicated commitment to our employees,” says Kevin Classen, CEO of FirstBank. “In PNC, we have found a partner that not only values this legacy but is committed to building on it. Their scale, technology and breadth of financial services will allow us to offer even more to our customers, while ensuring that our employees and communities continue to thrive.” Upon completion of the merger, Classen …

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AcquisitionsIllinoisMidwestRetail

Convexity Properties Acquires Lou Malnati’s Pizzeria-Occupied Retail Property in Chicago for $39M

by Kristin Harlow

CHICAGO — Convexity Properties, the real estate development arm of DRW Holdings, has acquired a retail site in Chicago’s Gold Coast neighborhood for $39 million. Located at 1120 and 1130 N. State St., the two-story building was formerly occupied by Barnes & Noble and is currently home to Lou Malnati’s Pizzeria. Mid-America Real Estate Corp. represented Convexity in the acquisition and has been appointed to oversee all retail leasing efforts for the property. Convexity also owns the adjacent Viceroy Hotel at 1118 N. State St. While development plans for the newly acquired parcel have not yet been announced, the property is zoned for a 304-unit, 345-foot residential tower, which was approved by the city council in 2021.

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Leasing ActivityMidwestOhioRetail

Academy Sports + Outdoors Opens 55,000 SF Store at Southland Crossings in Boardman, Ohio

by Kristin Harlow

BOARDMAN, OHIO — Academy Sports + Outdoors has opened a 55,000-square-foot store at Southland Crossings in Boardman, about 50 miles east of Akron. First National Realty Partners owns the 245,678-square-foot shopping center. The lease backfills a former vacancy and replaces a short-term tenant. The store offers a wide array of sporting goods, outdoor recreation equipment and apparel. Additional tenants at the property include Bob’s Discount Furniture, Boot Barn, Giant Eagle, PetSmart and Ross Dress for Less.

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