Tuesday, June 17, 2025
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AcquisitionsMarylandRetailSoutheast

Cushman & Wakefield Brokers Sale of 125,245 SF Shopping Center in Takoma Park, Maryland

by John Nelson

TAKOMA PARK, MD. — Cushman & Wakefield has brokered the sale of Takoma Langley Crossroads, a 125,245-square-foot, grocery-anchored shopping center in Takoma Park, a city in suburban Maryland’s Montgomery County. Granite Canyon Partners purchased the grocery-anchored center for an undisclosed price. Cushman & Wakefield’s John Owendoff represented the unnamed seller in the transaction. The recently renovated shopping center was nearly fully leased at the time of sale to tenants including Aldi, Walgreens, Citibank, Taco Bell and 7-Eleven. Situated on nearly 10 acres at the intersection of University Boulevard and New Hampshire Avenue, Takoma Langley is located across the street from the Takoma Langley Transit Center, the largest non-Metrorail transfer point in the metro Washington, D.C., region and the future home of a Purple Line Metro stop.

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AcquisitionsNew JerseyNortheastRetail

Cushman & Wakefield Brokers $12.9M Sale of Franklin Court Retail Center in Somerset, New Jersey

by Taylor Williams

SOMERSET, N.J. — Cushman & Wakefield has brokered the $12.9 million sale of Franklin Court, a 42,116-square-foot retail center located in the Northern New Jersey community of Somerset. Tenants at the property include Walgreens and KFC. Andrew Schwartz, Jordan Sobel, Seth Pollack and Andre Balthazard of Cushman & Wakefield represented the seller, Adoni Property Group, and procured the buyer, LJL Realty Co., in the transaction.

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AcquisitionsRetailWashingtonWestern

Sterling Realty Divests of 103,141 SF Lynnwood Crossroads Retail Center in Lynnwood, Washington

by Amy Works

LYNNWOOD, WASH. — Bellevue-based Sterling Realty Organization has completed the sale of Lynnwood Crossroads, grocery-anchored shopping center in Lynnwood. Orange County, Calif.-based Sakioka Farms acquired the asset for $45 million in an all-cash 1031 exchange transaction. Billy Sleeth and Paul Sleeth of Newmark represented the seller, while Pete Bethea, Glenn Rudy and Rob Ippolito of Newmark represented the buyer in the transaction. Sprouts Farmers Market, LA Fitness, Starbucks Coffee, Jersey Mike’s Subs, Five Guys, The Joint Chiropractic, Great Clips and Qdoba are tenants at the 103,141-square-foot retail space. At the time of sale, the property was 100 percent leased.

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AcquisitionsKansasMidwestRetail

Marcus & Millichap Negotiates $4.5M Sale of Retail Building in Lawrence, Kansas

by Kristin Harlow

LAWRENCE, KAN. — Marcus & Millichap has negotiated the $4.5 million sale of Lawrence 27, a 12,945-square-foot retail building in Lawrence. The property was built in 2014 and expanded in 2017. Lawrence 27 was fully occupied at the time of sale by Buffalo Wild Wings, Tropical Smoothie Café, Vapor World, Sports Clips and SunTan City. Zachary Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the buyer, a Kansas-based partnership. A Kansas City-based development firm was the seller.

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6010-N-Carefree-Circle-Colorado-Springs-CO
AcquisitionsColoradoRetailWestern

CBRE Arranges Sales of Two Shopping Centers in Colorado Springs for $13.8M

by Amy Works

COLORADO SPRINGS, COLO. — CBRE has arranged the sales of two shopping centers in Colorado Springs for a total consideration of $13.8 million. Park Brown, Matthew Henrichs and Brad Lyons of CBRE’s National Retail Partners represented the sellers in each transaction. A Colorado-based private investor acquired the Springs Ranch Shopping Center for $8.3 million, and a San Diego-based 1031 exchange investor purchased Peterson Square for $5.5 million. Located at 6010-6080 N. Carefree Circle, Springs Ranch Shopping Center features 40,331 square feet of multi-tenant retail space. Springs Liquor Outlet anchors the fully leased property. A Denver-based private partnership sold the asset. Located at 6809 Space Village Ave., Peterson Square offers 14,182 square feet of fully occupied retail space. A Denver-based private fund sold the center.

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72306-Highway-111-Palm-Desert-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Brokers $5M Sale of Two-Tenant Outparcel in Palm Desert, California

by Amy Works

PALM DESERT, CALIF. — Hanley Investment Group has arranged the sale of a two-tenant outparcel property located at 72306 Highway 111 in Palm Desert. Newport Beach-based Sage Investco sold the asset to a Salt Lake City-based private investor for $5 million. Mattress Firms occupies 3,800 square feet and Club Champion occupies 3,016 square feet at the asset on a net-leased basis. The property is an outparcel to a Walmart Neighborhood Market. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the buyer and seller in the deal.

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16321-SE-Stark-St-Gresham-OR
AcquisitionsOregonRetailWestern

Norris & Stevens Negotiates $2.1M Sale of Former Elks Lodge in Gresham, Oregon

by Amy Works

GRESHAM, ORE. — Portland-based Norris & Stevens has arranged the sale of a retail property located at 16321 SE Stark St. in Gresham. Gateway Elks Lodge No. 2411, Benevolent & Protective Order of Elks of The United States of America, sold the asset to an undisclosed buyer for $2.1 million. Built in 1926 on 2.3 acres, the 14,689-square-foot building features plenty of natural light, an atrium dining area and more than 100 parking spaces. Greg Nesting and Gabe Schnitzer represented the buyer and seller in the deal.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Negotiates Sale of 95,886 SF Retail Building Leased to At Home in Metro Boston

by Taylor Williams

PEABODY, MASS. — Locally based brokerage firm Atlantic Capital Partners has negotiated the sale of a 95,886-square-foot, single-tenant retail building in the northern Boston suburb of Peabody that is fully leased to Texas-based home improvement retailer At Home. The property is located just west of North Shore Mall and adjacent to a grocery-anchored shopping center. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

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Leasing ActivityNortheastPennsylvaniaRetail

Whole Foods Market Opens 54,667 SF Store in Pittsburgh’s East Liberty Area

by Taylor Williams

PITTSBURGH — Austin, Texas-based Whole Foods Market has opened a 54,667-square-foot store at 5700 Penn Ave. in Pittsburgh’s East Liberty neighborhood. The store will feature full-service meat and seafood counters, an artisanal cheesemaking department, coffee bar, prepared foods section and a selection of more than 250 craft beers and 700 wines. The store, which is a relocation of a market at 5880 Centre Ave. that served the community for more than 20 years, officially opened on Wednesday, Aug. 10.

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Market ReportsRetailTexasTexas Market Reports

Healthy Supply-Demand Balance Continues to Define Houston Retail Market

by Taylor Williams

By Kyle Knight, senior vice president, Weitzman Houston Houston’s construction of new retail space, after reaching a record low in 2021, is on track to exceed that level, based on projects in the pipeline for this year. But the increase is not large, and total new deliveries will remain on the conservative side. The limited new space is driving demand to existing projects and helping lift marketwide occupancy levels. The limited deliveries of new retail space, combined with healthy retail demand and limited closings, is helping Houston’s retail market build on the occupancy gains it experienced during 2021. As a result, the retail market currently has a healthy occupancy rate of 96.1 percent. The market remains among the strongest in recent memory, although economic issues — rising interest rates, increased construction costs, inflation — may lead to a slowdown. On the positive side, retailer, developer and investor interest remains at extremely high levels, since retail real estate is a long-term game that factors in short-term concerns. The retail market also bolstered by robust demand for small-shop space, new construction that is either built-to-suit or significantly preleased, healthy job and population growth and an economy that benefits from rising energy prices. …

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