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AcquisitionsGeorgiaMixed-UseMultifamilyRestaurantRetailSoutheast

Jamestown Acquires Minority Stake in Inman Quarter Mixed-Use Development in Atlanta

by John Nelson

ATLANTA — Jamestown has acquired a minority stake in Inman Quarter, a mixed-use development in Atlanta’s Inman Park district. The Atlanta-based company, best known for its placemaking and operation of developments like Ponce City Market, will own and operate Inman Quarter with TriBridge Residential, a multifamily owner/operator also based in Atlanta. The property includes approximately 40,000 square feet of retail space, 200 residential units and a 515-space parking deck. The retail component comprises popular restaurants and cafes, including MF Sushi, Little Spirit, bartaco and Beetlecat. The sales price and Jamestown’s stake amount at Inman Quarter were not disclosed.

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AcquisitionsLee & AssociatesRetailTexas

Lee & Associates Negotiates Multiple Leases at Emami Plaza Shopping Center in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — Lee & Associates has negotiated multiple new leases at Emami Plaza, a 34,000-square-foot shopping center located in the Rio Grande Valley city of Laredo. Among the new tenants at the center are D1 Training (4,600 square feet), SaladWorks (2,000 square feet), Farmers Insurance (1,500 square feet) and Tribalance Chiropractic (1,500 square feet). The deals bring the newly constructed center to full occupancy. Enrique Volkmer of Lee & Associates negotiated the leases on behalf of the undisclosed landlord.

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AcquisitionsMaineNortheastRetail

Newmark Brokers $19.7M Sale of Mall Plaza Shopping Center in South Portland, Maine

by Taylor Williams

SOUTH PORTLAND, MAINE — Newmark has brokered the $19.7 million sale of Mall Plaza, a 153,576-square-foot shopping center in South Portland. Mall Plaza is located across from The Maine Mall and was 83 percent leased at the time of sale, with Dick’s Sporting Goods serving as the anchor tenant and Petco as a junior anchor,. The center also features five pad sites, four of which are occupied by Burger King, Verizon, Maine Community Bank and Friendly’s. An entity doing business as GMG LLC sold the property to New Gen Hospitality Inc. Robert Griffin, Jonathan Martin, Paul Penman and Casey O’Brien of Newmark brokered the deal.

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AcquisitionsNew HampshireNortheastRetail

Grossman Cos. Acquires 9,869 SF Retail Strip Center in Manchester, New Hampshire

by Taylor Williams

MANCHESTER, N.H. — Metro Boston-based investment firm The Grossman Cos. has acquired South Willow Shops, a 9,869-square-foot retail strip center in Manchester, located near the Massachusetts-New Hampshire border. Built in 1988, the center is home to tenants such as Hannoush Jewelers, Mattress Firm and Chipotle Mexican Grill. The seller was Linear Retail Properties. Bob Horvath of Horvath & Tremblay brokered the deal.

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AcquisitionsCaliforniaRetailWestern

Strategic Realty Trust Sells Silver Lake Collection Retail Property in Los Angeles for $12.4M

by Amy Works

LOS ANGELES — Strategic Realty Trust has completed the disposition of Silver Lake Collection, a retail asset in Los Angeles’ Silver Lake neighborhood. An undisclosed buyer acquired the property for $12.4 million. Located at 1601 Griffith Park Blvd. and 3701-3713 Sunset Blvd., Silver Lake Collection offers 10,876 square feet of retail space that was built in 1934 and renovated in 2023. The property is fully leased to a mix of food-and-beverage tenants, including Counter Culture Coffee, El Condor and Yi Cha. Tim Kuruzar of JLL Capital Markets represented the seller, while Matthew Fainchstein of JLL represented the buyer in the deal.

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762-764-5th-Ave-San-Diego-CA
AcquisitionsCaliforniaMixed-UseMultifamilyRestaurantRetailWestern

OneSource Funding Acquires 10,000 SF Mixed-Use Building in San Diego

by Amy Works

SAN DIEGO — OneSource Funding LLC has purchased 762-764 5th Avenue, a mixed-use property in San Diego, from Gaslamp Portfolio Management 2 LLC for $4.7 million. Bradley Peters, Ben Tashakorian and Ali Valiahdi of Marcus & Millichap represented the seller and buyer in the transaction. Built in 1902, the 10,000-square-foot property features two residential floors and ground-level restaurant space. The buyer plans to redevelop the residential floors into multifamily units.

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IllinoisLoansMidwestRetail

Maverick Commercial Mortgage Arranges $5.6M in Financing for Chicago Retail Property

by Kristin Harlow

CHICAGO — Maverick Commercial Mortgage Inc. has arranged $5.6 million in financing for a three-tenant retail property in the Gold Coast neighborhood of Chicago. The 5,800-square-foot asset was fully leased at the time of the loan closing. A national lender provided the three-year, fixed-rate loan at 6.45 percent. The loan amortizes on a 25-year schedule. Chicago-based JDI Realty was the borrower.

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IllinoisLeasing ActivityMidwestRetail

IMAGE Studios to Open at Fox River Commons Shopping Center in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Husband-and-wife franchise owners Veronika and Greg Parranto plan to open the first IMAGE Studios concept in Illinois at Fox River Commons shopping center in Naperville later this month. The Parrantos signed a lease with Continental Realty Corp. (CRC) for 10,645 square feet of space at the 241,000-square-foot shopping center. With this transaction, Fox River Commons is now 77 percent leased. Kristin Perry of CRC and Brooke Spinell of Mid-America Real Estate represented the landlord, while Carlie Wilmes of Reimagine CRE represented the tenant. IMAGE Studios, which operates nearly 100 locations throughout 22 states, is an exclusive salon suite that enables hair stylist and other beauty-care professionals to operate independently owned private salon studios under one roof. Approximately 35 new locations are expected to open in 2025, including two in the Chicago area, with seven additional sites expected in Chicagoland by different franchise owners. The Fox River Commons location will contain 48 private salon studios.

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KansasLeasing ActivityMidwestRestaurantRetail

Cactus Grill Debuts at Lenexa City Center in Kansas

by Kristin Harlow

LENEXA, KAN. — Cactus Grill has opened at Lenexa City Center’s Restaurant Row in Kansas. The new location features house-made salsas, fajitas and espinaca dip as well as a spacious bar and patio. Copaken Brooks owns the property, and Erin Johnston is the landlord representative. Ed Gieselman owns Cactus Grill.

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AcquisitionsRetailSouth CarolinaSoutheast

Palomar Group Negotiates Sale of 99,384 SF Shopping Center in Irmo, South Carolina

by John Nelson

IRMO, S.C. — The Palomar Group has negotiated the sale of Irmo Station, a 99,384-square-foot shopping center in the Columbia suburb of Irmo. Located at 7467 St. Andrews Road, the center is situated on 13.8 acres. Kroger anchors the center. Additional tenants at the property include Orangetheory Fitness, Pizza Hut, Pet Supplies Plus and Palm Beach Tan. A publicly traded REIT acquired the property for an undisclosed price. The seller was also not disclosed.

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