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DevelopmentFloridaMixed-UseMultifamilyRetailSoutheast

Urban Design Review Board Approves 12-Story Mixed-Use Tower in Miami

by John Nelson

MIAMI — The City of Miami’s Urban Design Review Board (UDRB) has approved the design of a new 12-story mixed-use tower in the city’s Little River neighborhood. The project team includes locally based developer B Developments and Stantec, which is serving as architect, MEP engineer and structural engineer for the development. The tower will be located on a 3.5-acre site at 79th Street and Biscayne Boulevard and feature 355 apartments, 589 parking spots and 35,500 square feet of retail space on the ground level. Set to break ground next year, the property will feature a mix of studio, one-, two- and three-bedroom apartments, as well as a beach entry pool, fitness center, outdoor dining terrace and a shaded pet area.

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CaliforniaDevelopmentRetailWestern

Almquist Opens $70M River Street Marketplace in San Juan Capistrano, California

by Amy Works

SAN JUAN CAPISTRANO, CALIF. — Almquist has opened River Street Marketplace, a new $70 million retail development located in San Juan Capistrano, roughly 55 miles southeast of Los Angeles. Almost all of the property’s 30 tenants have opened, with the additional openings scheduled for the coming weeks.  Retailers and restaurants at the center, which totals 60,000 square feet, include Free People, Shop Common Thread, Tecovas, Fermentation Farm, Finca, Wildfire Mercantile, La Vaquera, Seager, Pick Me Flowers, May Martin, Mendocino Farms, Toes on the Nose, Salt Optics, CAPO Leisure House, Studio Pilates, McConnell’s Fine Ice Cream, The Market by The Meat Cellar, Hobie, Rowan and Ubuntu. Additionally, a miniature food hall will open soon at the development. Dubbed Rodeo River Street, the food hall will feature concepts including NOM, Parana Empanadas, Shootz Hawaiian, The Sushi Stand, Kebab Craft, Hudson’s Cookies, Bred Hot Chicken, Kozan Teahouse and Pastalia. 

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AcquisitionsIllinoisIndianaIowaMichiganMidwestMinnesotaRetailWisconsin

JLL Brokers Sale of Napa Auto Parts Retail Portfolio in Midwest for $70.2M

by Kristin Harlow

MICHIGAN, MINNESOTA, INDIANA, ILLINOIS, WISCONSIN AND IOWA — JLL Capital Markets has brokered the sale of a 41-property Napa Auto Parts retail portfolio in the Midwest for $70.2 million. The net-leased assets total 342,986 square feet and are located in Michigan, Minnesota, Indiana, Illinois, Wisconsin and Iowa. There are roughly 18.5 years of weighted average lease term remaining. Alex Sharrin, Jaime Fink, Marcus Pitts and Matt Hazelton of JLL represented the undisclosed buyer and seller. According to JLL, the portfolio bolsters the buyer’s strong foothold in the auto repair and parts industry.

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DevelopmentMichiganMidwestRetail

Poag Invests $1.3M in Improvements at RiverTown Crossings Shopping Mall Near Grand Rapids

by Kristin Harlow

GRANDVILLE, MICH. — Poag Development Group has invested more than $1.3 million into property improvements at its recently acquired RiverTown Crossings, a 1.3 million-square-foot regional mall in Grandville near Grand Rapids. The two-story enclosed mall features five anchors — Macy’s, Kohl’s, JC Penney, Celebration Cinemas and Dick’s Sporting Goods. Poag purchased the property in September. The improvements included cleaning up and installing new landscaping, fixing the merry-go-round and significant repairs to the parking lot. Poag aims to redevelop the mall into a mixed-use lifestyle center with restaurants, entertainment and potential residential and hotel uses. The Memphis-based developer is working with JLL as its leasing partner to maximize the potential of the property.

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KansasLeasing ActivityMidwestRetail

Chase Bank, 7 Brew to Open at Oslo Marketplace in Suburban Kansas City

by Kristin Harlow

OVERLAND PARK, KAN. — Chase Bank and 7 Brew are slated to open at the Oslo Marketplace in South Overland Park, a suburb of Kansas City. The lease signings represent the first announcements in the new development. Mark McConahay and David Block of Block & Co. Inc. Realtors represented the owner, Frey Development, in the negotiations. Oslo Marketplace is the retail component to the redevelopment of the former Frey and Frey Mission Gardens Nursery site, which had been in business since 1972. Also part of the project is Oslo Living, which is nearly complete with 413 luxury apartment units developed by Ryan Cos. Four pad sites remain available.

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Leasing ActivityNortheastPennsylvaniaRestaurantRetail

South County Brewing to Open 22,000 SF Venue in Lancaster, Pennsylvania

by Taylor Williams

LANCASTER, PA. — South County Brewing will open a 22,000-square-foot venue in Lancaster, about 80 miles west of Philadelphia. The space at 26 W. King St. in the downtown area formerly  housed the Pressroom restaurant. The new brewery will have 17,644 square feet dedicated to a restaurant, bar, dining room, private event space and kitchen, as well as 4,356 square feet for outdoor bar and courtyard space. The opening is slated for early 2025. TRUE Commercial Real Estate represented the brewery in the lease negotiations. Corinn Kerchner of PPM Real Estate represented the landlord, Zamagias Properties.

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DevelopmentGeorgiaRetailSoutheast

Stratus Property Group Announces City Block Redevelopment in Downtown Carrollton, Georgia

by John Nelson

CARROLLTON, GA. — Stratus Development Group has announced the redevelopment of The Shoppes at Rome, transforming the first ever retail center built in Carrollton. Situated about 50 miles west of Atlanta, the 40,000-square-foot retail project spans nearly three acres and a full city block. The historic property is located at 415 Rome St., one block from Adamson Square shops and restaurants. Max Albers of Atlanta-based Stratus Property Group is leading the leasing for the redevelopment, which aims to bring new retailers to downtown Carrollton and spur further development in the area. The City of Carrollton has recently unveiled more developments in the downtown district, including The Amp, a 1,000-seat amphitheater, multiple new breweries and events such as half-marathon runs and the “Taste of Carrollton.”

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $10.1M Sale of Retail Center in West Palm Beach

by John Nelson

WEST PALM BEACH, FLA. — Marcus & Millichap has brokered the $10.1 million sale of the nearly 50,000-square-foot Cross County Plaza retail center in West Palm Beach. Located at 1922-1948 N. Military Trail, Cross County Plaza is fully occupied and anchored by national retailers including dd’s Discounts and K&G Fashion Superstore. The property is an outparcel to the larger Cross County Plaza shopping mall, which is situated near I-95 and Florida’s Turnpike. Tenants at the larger center include Presidente Supermarket, Ross Dress for Less, YouFit Gyms and Ollie’s Bargain Outlet. Douglas Mandel, Zach Levine and Josh Gilbert of Marcus & Millichap’s Fort Lauderdale office represented the seller in the transaction. Pliskin Realty was the buyer.

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CaliforniaDevelopmentMultifamilyRestaurantRetailWestern

ValueRock Realty Opens 21-Acre The Commons Mixed-Use Project in Aliso Viejo, California

by Amy Works

ALISO VIEJO, CALIF. — ValueRock Realty has completed The Commons, a repurposed 21-acre mixed-use project in Aliso Viejo, with the grand opening scheduled for Dec. 14. The Commons was redeveloped by transforming a nearly 200,000-square-foot vacant Lowe’s into a multi-tenant community center. The project features a 200,000-square-foot retail component with restaurants and retailers, including Tesla, 99 Ranch Matket, Daiso and Philz Coffee, all of which are slated to open by the end of the year. Additional tenants, including Bowlero (a Lucky Strike concept), will open in 2025. The Commons will also include a proposed 343-unit residential project. ValueRock purchased the first parcel in 2015 for $62 million and began conceptualizing the reimagined project in 2017 as big box stores began to close across the country. In 2019, ValueRock negotiated a lease termination with Lowe’s that allowed for the site’s redevelopment. Construction of the project began in 2023 and finalized in late 2024. ValueRock entirely self-funded the approximate $53 million redevelopment, which has a current estimated value of more than $115 million.

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AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Brokers Sale of 24,370 SF Big Lots-Occupied Building in Chico, California

by Amy Works

CHICO, CALIF. — Marcus & Millichap has arranged the sale of a retail property located at 1927 E. 20th St. in Chino. A private investor sold the asset to a private investor for $2.3 million. Big Lots occupies the 24,370-square-foot building on a net-lease basis. Teodor Vacev of Marcus & Millichap represented the seller and procured the buyer in the deal.

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