Tuesday, June 3, 2025
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AcquisitionsIllinoisMidwestRetail

JLL Brokers $30.2M Sale of Suburban Chicago Retail Center

by Kristin Harlow

GLEN ELLYN, ILL. — JLL Capital Markets has brokered the sale of Market Plaza in the Chicago suburb of Glen Ellyn for $30.2 million. Jewel-Osco anchors the 166,572-square-foot retail center. Built in 1965 and renovated in 2009, Market Plaza is home to tenants such as Ross Dress for Less, Dollar Tree, Staples, Sherwin-Williams, Sweet Basil, H&R Block, Royal Nail and Spa and Goldfish Swim School. The property sits on 12 acres along Roosevelt Road. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, RPT Realty. North American Real Estate Group was the buyer.

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AcquisitionsConnecticutNortheastRetail

CBRE Negotiates $11M Sale of Milford Plaza Shopping Center in Connecticut

by Taylor Williams

MILFORD, CONN. — CBRE has negotiated the sale of Milford Plaza, a 180,315-square-foot shopping center located in the southern coastal part of the state. Anchored by grocer G-Mart, Milford Plaza was 65 percent leased at the time of sale, with other tenants including Planet Fitness, Dollar Tree and Hartford Healthcare. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the owner, The Hampshire Cos., in the transaction. The team also procured the buyer, Northpath Investments. Michael Klein, Max Custer and Ryan Carroll of JLL arranged $9 million in fixed-rate acquisition financing through Easthampton Savings Bank on behalf of the new ownership.

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DevelopmentLeasing ActivityMixed-UseOfficeRetailSoutheastTennessee

KBS Signs Three Tenants, Completes Renovations at 175,262 SF McEwen Building in Metro Nashville

by John Nelson

FRANKLIN, TENN. — KBS has signed three new tenants at The McEwen Building, a 175,262-square-foot office and retail property in Franklin, about 21.5 miles south of Nashville. Together the three tenants occupy 66,611 square feet. One of the new tenants, Kaiser Aluminum Corp., a global aluminum supplier, has committed to 27,356 square feet of office space. Kaiser will be relocating its corporate functions from Foothill Ranch, Calif. American Renal Associates LLC, a Massachusetts-based dialysis clinic operator, signed a 26,695-square-foot lease. Lastly, an undisclosed financial institution based locally signed a lease for 12,560 square feet, which includes 1,290 square feet for retail and 11,270 square feet of first-floor office space. The lease transaction occurred after KBS made investments to the property, including the completion of 24,130 square feet of built-out spec suite space and upgrades to the first and second floor lobbies, restrooms, coffee bar and café. Blake Newton of Cushman & Wakefield represented KBS in the recent leasing transactions. Rick Sherburne, Wesley Sherburne and Taylor Hillenmeyer of CBRE represented Kaiser Aluminum Corp., Tom Hooper of JLL represented American Renal Associates and Shane Douglas of Colliers represented the local financial institution in the negotiation of the leases. KBS also completed a …

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DevelopmentLeasing ActivityRetailSoutheastTennesseeTop Stories

Dollar General to Open 1,000 New Popshelf Stores by End of 2025

by Kristin Harlow

GOODLETTSVILLE, TENN. — Dollar General (NYSE: DG) has unveiled plans to open approximately 1,000 new Popshelf stores by the end of fiscal year 2025, including roughly 100 stores in fiscal year 2022. Each Popshelf store spans approximately 9,000 square feet and offers seasonal and home décor, health and beauty products, cleaning supplies and party goods. The target customer is primarily female, lives in the suburbs and maintains an annual household income ranging from $50,000 to $125,000, according to the retailer. Dollar General, which is based in Goodlettsville near Nashville, debuted the Popshelf concept last fall and opened its first two stores in Tennessee in October 2020. At the end of its fiscal third quarter, Dollar General operated 30 Popshelf stores in six states and 14 store-within-a-store formats, which combine the offerings of Popshelf with DG Market, a larger footprint store that focuses on groceries. By February 2022, Popshelf is on track for 50 stores, as well as up to 25 store-within-a-store formats. “Throughout Popshelf’s first year, we’ve been very pleased by the customer demand for the concept’s on-trend merchandise, price points and shopping experience,” says Emily Taylor, Dollar General’s executive vice president and chief merchandising officer. “Popshelf is an integral …

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Shops-Dos-Lagos-Corona-CA
AcquisitionsCaliforniaRetailWestern

Barret Woods & OERP Purchases The Shops at Dos Lagos in Corona, California for $47.4M

by Amy Works

CORONA, CALIF. — Barret Woods & OERP LLC has purchased The Shops at Dos Lagos, a lifestyle shopping center in Corona, for $47.4 million, or $135 per square foot. Built in 2006, The Shops at Dos Lagos offers 351,200 square feet of retail space on 47.4 acres with four in-line shop buildings, four ground-leased restaurant pads, a 15-screen movie theater and a 7,000-square-foot pad available for lease or development. Current tenants include Trader Joe’s, Express, Sunglass Hut, Bath & Body Works, Daniel’s Jewelers, Sleep Number, Papaya, Fatburger, Pinkberry, Miguel’s California Mexican Cocina, Woodranch BBQ & Grill, RA Sushi, Citrus City Grille and TAPS Fish House & Brewery. At the time of sale, the property was 91 percent occupied. The asset was the first phase of a two-phase retail shopping center development. The second phase was not included in the sale. Steve Liu, Roger Niez, Nikki Liu, Daniel Vlessing and Mohit Uppal of NAI Capital Commercial represented the seller and the buyer in the deal.

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10710-Firestone-Blvd-Norwalk-CA
AcquisitionsCaliforniaRetailWestern

Paragon Commercial Acquires Vacant 25,977 SF Property in Norwalk for $7.1M

by Amy Works

NORWALK, CALIF. — Paragon Commercial Group has purchased a vacant retail property situated on 2.3 acres at 10710 Firestone Blvd. in Norwalk. RSM Properties sold the asset for $7.1 million. Paragon plans to redevelop the 25,977-square-foot building for Chick-fil-A. An Office Depot and a coffee chain formerly occupied the property. Pat Wade and Alex Kozakov of CBRE represented Paragon in the off-market transaction.

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AcquisitionsIllinoisMidwestRetail

Newcastle Properties Buys 42,452 SF Orchard Plaza Retail Center in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Newcastle Properties has purchased Orchard Plaza in Skokie for an undisclosed price. This is the first time the 42,452-square-foot retail center has sold in over 60 years. Located near Old Orchard Mall at the corner of Skokie Boulevard and Gross Point Road, the property is home to tenants such as Bonefish Grill, Men’s Wearhouse, Advance Auto and the U.S. Post Office. Beth Sansiper and Jeff Gurian of Becker Gurian represented Newcastle Properties in the transaction. Drew Trammell of Newcastle Properties managed the underwriting and closing. The seller was not provided.

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movie theater
AcquisitionsRetailSouth CarolinaSoutheast

Cushman & Wakefield Brokers $14.3M Sale of Movie Theater-Occupied Property in Metro Charleston

by Julia Sanders

MOUNT PLEASANT, S.C. — Cushman & Wakefield has brokered the sale of a movie theater-occupied property on a seven-acre site located in Mount Pleasant, about 9.5 miles from Charleston. The sales price was $14.3 million. Nick Tanana and Brady Dashiell of Cushman & Wakefield represented the seller, Knoxville, Tenn.-based Regal Cinemas, which operates a 33,000-square-foot movie theater onsite called Regal Cinebarre. Collett Capital was the buyer. Built in 2005, the site currently has no tenants now that Regal Cinemas sold the property. Located at 963 Houston Northcutt Blvd., the site is just over the Arthur Ravenel Jr. Bridge and is easily accessible from downtown Charleston.

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AcquisitionsNew JerseyNortheastRetail

Irgang Group Acquires 393,000 SF Union Lake Crossing Shopping Center in Millville, New Jersey

by Taylor Williams

MILLVILLE, N.J. — New York-based investment and management firm Irgang Group has acquired Union Lake Crossing, a 393,000-square-foot grocery-anchored shopping center in Millville, located in the southern part of the state. Built on 43.3 acres in 2006, the property houses tenants such as Shoprite, Kohl’s, Ross Dress for Less, Staples and PetSmart. Restaurant users include Buffalo Wild Wings, Moe’s Southwest Grill and Sonic. Ben Bruner of Bruner Group represented Irgang Group in the transaction. Chris Munley, James Galbally and Colin Behr of JLL represented the seller, Goodman Properties.

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Michael Takacs Mall Redevelopment
BohlerContent PartnerFeaturesMidwestNortheastRetailSoutheastTexas

Outside the [Big] Box Tips for Filling Empty Retail Space

by Sarah Daniels

Mall and shopping center owners nationwide are faced with the vacancy of major big box anchors that have closed their doors due to the continued uptick in online retail and changing shopping habits and desires of today’s consumers. Often massive, these two-story, or even three-story spaces seem impossible to fill with the decline of most brick and mortar retail stores. Developers are being challenged to think outside the [big] box to find new tenants and creative uses for the space. Malls were originally thought of as community centers for neighborhoods during the mall boom. That attitude fell by the wayside as malls removed their socially engaging aspects and lost their sense of place  — instead of being a place for the community to gather, the mall became simply a place to shop. Now, largely expedited by the pandemic, there have been seismic shifts in retail and shopper habits/what the consumer wants out of their shopping experience. The key word here is experience. Malls have had to readapt to fill in vacant spaces from large department stores that consumers no longer favor. This has opened up a lot of atypical uses, from distribution centers to residential to entertainment components to medical facilities. …

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