POUGHKEEPSIE, N.Y. — Basis Investment Group has provided a $27.5 million bridge loan for the refinancing of Plaza 44, a 168,000-square-foot, grocery-anchored shopping center in Poughkeepsie, located north of New York City. Regional grocer Stop & Shop anchors the center, and Ross Dress for Less plans to open a 23,000-square-foot store at Plaza 44 before the end of the year. The borrower, Capstone Realty Group, plans to reposition the center and market the property for sale over the course of the ensuing 24-month period.
RENO, NEV. — Gantry has arranged a $17.8 million permanent loan to refinance North Reno Plaza, a 130,000-square-foot neighborhood center in Reno. Tony Kaufmann and Alex Poulos of Gantry represented the borrower, a private real estate investor, in securing the five-year, fixed-rate loan through one of Gantry’s lenders. The new loan, which features a 30-year amortization schedule, will retire the construction debt Gantry previously arranged for the borrower for the 2024 repositioning of North Reno Plaza. The recent renovation features various center improvements, including the addition of several new tenants such as El Super Supermarket, a freestanding Starbucks with a drive-thru and Burlington. North Reno Plaza also features a roster of fast food restaurants, professional services and fitness businesses.
LONGMONT, COLO. — DoubleBay Partners and Midloch Investment Partners have completed the $13.9 million sale of 1630 Pace Street, a retail space situated within Fox Creek Marketplace in Longmont. Mark Thiel and Cory Gross of Marcus & Millichap facilitated the transaction. The name of the buyer was not released. VASA Fitness occupies the 56,000-square-foot space.
CHICAGO — Cushman & Wakefield has arranged the $28.5 million receivership sale of 1900 W Lawrence, a boutique multifamily property in Chicago’s Ravenswood neighborhood. The asset features 59 luxury apartment units and more than 19,000 square feet of ground-level retail space. Located at 1900 W. Lawrence Ave., the building is a former Sears store that was redeveloped in 2021. At the time of sale, the property’s retail space was fully occupied by tenants such as DeVry University and Club Pilates, and the residential units were 94 percent full. The four-story building includes a mix of one-, two- and three-bedroom floor plans, with the second floor consisting of townhome-style units. Each floor includes amenity spaces catered toward remote work and social gatherings. Jack Maloney and Brad Smith of Cushman & Wakefield represented the seller, Matthew Tarshis of Frontline Real Estate Partners, a court-appointed receiver in the matter.
CANTON TOWNSHIP, MICH. — The UPS Store has signed a 1,304-square-foot retail lease at Canton Landings on Ford Road in Canton Township, a western suburb of Detroit. Michael Murphy and Owen Kelly of Gerdom Realty & Investment represented the undisclosed landlord. Lindsey Shaw of Mid-America Real Estate Group represented the tenant. One space remains available for lease at Canton Landings.
BATAVIA, ILL. — Aldi, a German discount, small-format grocer, plans to open 180 new stores across 31 states this year. By the end of the year, Aldi will operate approximately 2,800 U.S. grocery stores, including its first Maine location in Portland and 10 new stores in the metro Phoenix area. The grocer has operated stores in the United States for 50 years and has gained a loyal following in recent years as the demand for discount grocery items increases in the face of inflation. The company disclosed that 17 million Americans shopped at Aldi for the first time in 2025. “One in three U.S. households shopped at Aldi this past year, and in 2026, we’re focused on making it even easier for customers to shop our aisles first,” says Atty McGrath, CEO of Aldi U.S. Aldi, whose U.S. headquarters is in Batavia, plans to continue its expansion over the next five years in the Southeast and West regions. In the Southeast, Aldi continues to convert former Winn-Dixie retail locations following Aldi’s acquisition of Winn-Dixie and Harveys Supermarket from Southeastern Grocers in 2023. Aldi plans to reposition 80 former Winn-Dixie stores by the end of the year and 200 total by 2027. …
GEORGETOWN AND CEDAR PARK, TEXAS — A joint venture between global investment firm Oxford Properties Group and Pine Tree, a retail operator based in Chicago, has purchased a portfolio of two open-air retail centers totaling approximately 1 million square feet in metro Austin. Wolf Ranch Town Center totals roughly 633,000 square feet and is located in the northern suburb of Georgetown. Lakeline Plaza totals roughly 386,000 square feet and is located in Cedar Park, another northern suburb of Austin. Both centers are home to an array of national retailers such as Target, T.J. Maxx, Best Buy and Ulta Beauty. Kyle Minter and Conor Lalor of Newmark brokered the deal. The seller and sales price were not disclosed.
CYPRESS, TEXAS — Charlotte-based Big V Property Group and Principal Asset Management have purchased Fairfield Town Center, a 355,000-square-foot shopping center in Cypress, located on the northwestern outskirts of Houston. The open-air center was roughly 99 percent leased at the time of sale to tenants such as Academy Sports + Outdoors, Cinemark, H-E-B, Kohl’s, Ross Dress for Less, Marshalls, HomeGoods and Old Navy. The seller and sales price were not disclosed.
FARMINGTON, N.M. — Mavin Capital has completed the disposition of a single-tenant restaurant property located at 2700 E. Main St. in Farmington. FCPT Acquisitions LLC c/o Four Corners Property Trust purchased the property for $2.8 million. Buffalo Wild Wings occupies the 6,178-square-foot building, which includes a drive-thru, ample parking and prominent frontage on Main Street, on a triple-net lease basis. Cushman & Wakefield’s Chris Hollenbeck and Shane Carter, along with local broker of record Brett Preston of PIRES International (part of the Cushman & Wakefield Alliance), represented the seller in the transaction.
GRAND RAPIDS, MICH. — Mid-America Real Estate Corp. has brokered the sale of Cascade East, a 99,529-square-foot, grocery-anchored retail center in Grand Rapids. The property was 97 percent leased at the time of sale to D&W Fresh Market, Hallmark, Sola Salon Studios, iSmash, Your Pets Naturally, HOTWORX, Warhammer and Pit Stop Catering. Ben Wineman, Eric Geskermann and Daniel Stern of Mid-America represented the seller, a publicly traded REIT. Batal Real Estate, a metro Detroit-based private investment firm, was the buyer.