Saturday, November 29, 2025
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Arcadia Lakes
AcquisitionsLoansRetailSouth CarolinaSoutheast

Eastern Union Secures $2.9M Acquisition Financing for Arcadia Lakes Shopping Center in Columbia, South Carolina

by Abby Cox

COLUMBIA, S.C. — New York-based Eastern Union has secured $2.9 million in financing for the acquisition of Arcadia Lakes Shopping Center, a 33,684-square-foot retail center located at 6432 Two Notch Road in Columbia. Marc Tropp of Eastern Union arranged the five-year mortgage on behalf of the buyer, CityWide Properties. The loan features a 75 percent loan-to-cost ratio and a 6.65 percent interest rate. Proceeds of the loan were used for the purchase of the shopping center, as well as for a line of credit for tenant improvements and leasing commissions. CityWide Properties is planning to upgrade the property with new exterior lighting and paint, parking lot repaving and striping and fresh landscaping. Tenants at the property include Rent-A-Center, Pizza Hut, Boost Mobile and Heights Finance.

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Leasing ActivityNew YorkNortheastRetail

Nordstrom Rack Opens 25,000 SF Store in Lake Grove, New York

by Taylor Williams

LAKE GROVE, N.Y. — Nordstrom Rack has opened a 25,000-square-foot store in Lake Grove, located on Long Island. The space is located within the 150,000-square-foot Smith Haven Plaza shopping center. Other tenants at the shopping center include Trader Joe’s, Old Navy, Athleta and Ulta Beauty. A partnership between Breslin Realty Development Corp. and Colin Development LLC owns Smith Haven Plaza.

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Ninety-Nine-Ave-Phoenix-AZ
AcquisitionsArizonaRetailWestern

Phoenix Commercial Advisors Brokers Sale of Sprouts Farmers Market-Anchored Retail Center in Phoenix

by Amy Works

PHOENIX — Phoenix Commercial Advisors has arranged the sale of Ninety Nine Ave, a grocery-anchored retail property in Phoenix. A private buyer acquired the asset from the developer for $30.7 million, or $650 per square foot, in an all-cash transaction. Situated on 5.2 acres on the northeast corner of 99th Avenue and McDowell Road, the property offers 47,201 square feet of retail space. At the time of sale, the property was 100 percent leased to a variety of tenants, including Sprouts Farmers Market, CAVA, Hand & Stone and Mountain Mike’s Pizza. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.

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DevelopmentIllinoisLoansMidwestRetail

Associated Bank Provides $11.7M Construction Loan for Retail Center in Metro Chicago

by Kristin Harlow

BANNOCKBURN, ILL. — Associated Bank has provided an $11.7 million loan to GTZ Properties for the development of a four-building, multi-tenant retail center on a vacant parcel at 1300 Half Day Road in Bannockburn. The 23,864-square-foot project is situated on a 5.3-acre corner lot adjacent to a Mariano’s grocery store and across the street from a Heinen’s grocery store. The development is 93 percent preleased with one space remaining. Signed leases include Wells Fargo Bank, Chipotle, Heart Certified Auto Care, Just Salad and a nail salon. The Gardner School is purchasing a parcel to develop the fifth building on the property as an early childhood education center. Completion of the retail center is slated for summer 2026. Daniel Barrins of Associated Bank handled the loan arrangements and closing.

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GeorgiaMarket ReportsRestaurantRetailSoutheastSoutheast Market Reports

Exhibit on Atlanta Retail: Observations from Intown to the ‘Burbs

by John Nelson

If you’ve spent any time driving around Atlanta recently, you’ve probably noticed something. More development sites are returning with bulldozers and developers are taking down land parcels in the suburbs the size of small European countries. But this time, the approach is more strategic than ever.  Gone are the days when a developer would carve out a shopping center for base rents less than $40 per square foot and call it a day. Today, some metro Atlanta developers are assembling larger tracts and creating hybrid projects that include multifamily housing, storage and even industrial uses in the back of the parcel, saving the front-facing road frontage for ground leases, build-to-suits and limited shop space. Automotive and restaurants concepts are clamoring for pads.  The result? Those once-overlooked “front and center” pad sites and strip centers are suddenly the belle of the ball. The downside is paying too much on the buy side for the dirt for aggressively low caps rates. But all I can say for the rental rates that I’m seeing is “Wow.”  Restaurants still lead In Atlanta’s retail market, restaurants continue to be the leading driver of leasing activity. According to observations, excluding junior box space, food-and-beverage deals made …

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HealthcareLeasing ActivityRetailTexas

New Promise Neuropathy to Open 3,000 SF Wellness Clinic in Spring, Texas

by Taylor Williams

SPRING, TEXAS — New Promise Neuropathy will open a 3,000-square-foot wellness clinic in Spring, a northern suburb of Houston. The space is situated within Spring Oaks Plaza, a newly developed, 10,188-square-foot retail strip center located at 4544 Spring Stuebner Road. Diana Gaines and Jackson Cain of SVN | J. Beard Real Estate represented the landlord, an entity doing business as Spring Oaks Investments LLC, in the lease negotiations. D.J. Hale of Oxford Partners represented the tenant.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of 255,704 SF Wind Point Shopping Center in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Mid-America Real Estate Corp. has brokered the sale of Wind Point Shopping Center, a 255,704-square-foot, grocery-anchored community center in the Chicago suburb of Batavia. The property is 98.7 percent leased to tenants such as Aldi, Kohl’s, Hobby Lobby, Harbor Freight Tools, OfficeMax, HobbyTown, Picked!, PetLand and AT&T. The center is positioned on the retail corridor or Randall Road. Ben Wineman and Emily Gadomski of Mid-America represented the seller, PMAT Real Estate Investments. Core Equity Partners was the buyer.

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AcquisitionsIllinoisLoansMidwestRetail

JLL Arranges $27.3M Acquisition Loan for Shopping Center in Metro Chicago

by Kristin Harlow

NAPERVILLE, ILL. — JLL Capital Markets has arranged a $27.3 million acquisition loan for Market Meadows, a 149,185-square-foot, grocery-anchored shopping center in Naperville. Chris Drew, Travis Anderson, Chris Knight, Wells Waller and Merrick Evans of JLL represented the borrower, Barings, in arranging a seven-year, fixed-rate loan through Principal Asset Management. The property is 98.3 percent leased and anchored by a Jewel-Osco store that comprises 45 percent of the net rentable area. Additional tenants include U.S. Bank, BMO Bank, T-Mobile, Chipotle, Jersey Mike’s Subs and McDonald’s. Rick Drogosz and Eric Geskermann of Mid-America Real Estate Corp. represented the seller, Shorewood Development. 

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AcquisitionsRetailTexas

Baker Katz Buys 108,016 SF Lakewood Forest Shopping Center in Houston

by Taylor Williams

HOUSTON — Locally based brokerage and investment firm Baker Katz has purchased Lakewood Forest Shopping Center, a 108,016-square-foot shopping center located in northwest Houston. According to LoopNet Inc., the center was originally built in 1984. Current tenants include Planet Fitness, Dollar Tree, First Watch, Taco Cabana and KFC. Jason Baker, Kenneth Katz, Ben Brown and Jack Moody led the transaction internally for Baker Katz. The seller and sales price were not disclosed.

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Leasing ActivityRetailTexas

Chipotle Mexican Grill Opens 2,325 SF Restaurant in Little Elm, Texas

by Taylor Williams

LITTLE ELM, TEXAS — Chipotle Mexican Grill has opened a 2,325-square-foot restaurant in Little Elm, located north of the metroplex in Denton County. The restaurant is located within Little Elm Marketplace, a 180,000-square-foot, Kroger-anchored development by Dallas-based Rosebriar Holdings. Preston Pierce Construction spearheaded the build-out of the space in conjunction with Rosebriar.

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