Retail

RealtyLink Sells Nashville Grocery Store Leased to Sprouts for $9.5M

by John Nelson July 16, 2025

NASHVILLE, TENN. — Greenville, S.C.-based development firm RealtyLink LLC has sold a freestanding grocery store located at 5821 Nolensville Pike in Nashville for $9.5 million. Phoenix-based Sprouts Farmers Market occupies the 22,988-square-foot retail property, which was developed in 2023 on a 2.9-acre parcel. The triple-net lease features five five-year renewal options with rental increases every five years. Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisers, along with ParaSell Inc. and Joe Caccamo and Lea Kuehnhackl of CP Partners, represented RealtyLink in the sale. Chris Thompson of JRW Realty in Pasadena, Calif., represented the buyer, a private investor based in the Los Angeles area.

July 16, 2025

Acquisitions Midwest Retail Wisconsin

NAI Pfefferle Arranges Sale of 8,500 SF Retail Building in Brookfield, Wisconsin

by Kristin Harlow July 16, 2025

BROOKFIELD, WIS. — NAI Pfefferle has arranged the sale of an 8,500-square-foot retail building in the Milwaukee suburb of Brookfield. The sales price was undisclosed, but the asking price was just under $3 million. Jan Kadow of NAI Pfefferle brokered the sale of the property, which is located at 200 N. Moorland Road.

July 16, 2025

Leasing Activity Michigan Midwest Retail

Beem Light Sauna to Open 2,025 SF Location at Boardwalk Shopping Center in Suburban Detroit

by Kristin Harlow July 16, 2025

WEST BLOOMFIELD TOWNSHIP, MICH. — Beem Light Sauna has signed a 2,025-square-foot lease to open at The Boardwalk shopping center in West Bloomfield Township, a northwest suburb of Detroit. Michael Murphy of Gerdom Realty & Investment represented the landlord, Beztak Properties. Jacob Farber of Morow Hill represented the tenant, which is a light therapy wellness studio. The lease marks the tenant’s second location in Michigan.

July 16, 2025

Acquisitions California Retail Western

Space Investment Partners Buys Grocery-Anchored Shopping Center in Fullerton, California for $118.5M

by Amy Works July 15, 2025

FULLERTON, CALIF. — Space Investment Partner has acquired Fullerton Metrocenter, a grocery-anchored retail center in Fullerton, from Kite Realty for $118.5 million. Located at 1375 Harbor Blvd., Fullerton Metrocenter offers 385,703 square feet of retail space occupied by more than 40 national and local retail tenants, including Sprouts Farmers Market, Target, Urban Air Adventure Park and PetSmart. The property was built in 1988 and renovated in 2002. At the time of sale, the property was 97 percent occupied. Christopher Hoffmann, Mark Damiani and Chase Levra of Eastdil Secured represented the seller in the transaction. Eastdil also arranged acquisition financing on behalf of the buyer. Greg Stampley and Jessica Henning of Eastdil Secured led the debt process.

July 15, 2025

Acquisitions Retail Southeast Virginia

Lucky Strike Entertainment Buys 58 Existing Bowling Alleys for $306M

by John Nelson July 15, 2025

RICHMOND, VA. — Richmond-based Lucky Strike Entertainment, operator of bowling alleys and entertainment venues that formerly operated as Bowlero, has purchased 58 of its existing locations for $306 million. The deal aims to reduce annual rent obligations, while eliminating the risk of future lease inflation, say company representatives. Lucky Strike will continue to operate each of the locations after the deal closes. The transaction was financed through a $230 million bridge facility under Lucky Strike’s revolving credit line, as well as cash on hand. Spanning 16 states, the 58-property portfolio includes locations in California, Illinois, Georgia, Arizona and Colorado, as well as 11 other states.

July 15, 2025

Acquisitions Georgia Retail Southeast

Legacy Realty Arranges Sale of 174,459 SF Shopping Center in Columbus, Georgia

by John Nelson July 15, 2025

COLUMBUS, GA. — Legacy Realty Group has arranged the sale of Manchester Square, a 174,459-square-foot shopping center in Columbus. Situated at the intersection of Woodruff Farm and Milgen roads, Food Depot anchors the property. Other tenants include Ollie’s Bargain Hunt, O’Reilly Auto Parts, Planet Fitness, Subway, T-Mobile, H&R Block, Unlimited Wireless, Peluso’s Italian Restaurant and Rainbow Fashions. Built in 1988, the property sits on 22 acres. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy Realty Group Advisors represented both the buyer and seller, Arkansas-based CORE Equity Partners, in the transaction. The sales price was not disclosed.

July 15, 2025

Development Leasing Activity Retail Southeast Virginia

Whole Foods to Open 46,711 SF Store in Reston, Virginia

by John Nelson July 15, 2025

RESTON, VA. — Whole Foods Market plans to open a new 46,711-square-foot grocery store at 1861 Fountain Drive in Reston on Wednesday, Aug. 6. The new store will be adjacent to Reston Town Center and is a relocation of an existing Whole Foods store at 11660 Plaza America Drive, which has served the Reston community since 1996. The new store is nearly double the square footage of the original store and will feature expanded café seating and a full-service coffee bar, among other departments. The new Whole Foods is backfilling a former Best Buy store that closed in 2020 within Spectrum at Reston Town Center, according to FFX Now. Lerner Enterprises owns and manages the 270,000-square-foot shopping center, whose tenants include Harris Teeter, The Container Store, Barnes & Noble and Cava.

July 15, 2025

Leasing Activity Retail Texas

Pottery Barn, West Elm to Open Stores Totaling 22,126 SF at Westbend in Fort Worth

by Taylor Williams July 15, 2025

FORT WORTH, TEXAS — Pottery Barn and West Elm will both open stores totaling 22,126 square feet at Westbend, a 281,000-square-foot mixed-use development located in southwest Fort Worth. Both home furnishings retailers are backfilling a former Market by Macy’s space and are targeting May 2026 openings. Trademark owns Westbend, the retail component of which is now fully leased.

July 15, 2025

Acquisitions California Retail Western

Hanley Investment Group Negotiates $2.6M Sale of Retail Property in El Centro, California Leased to Dutch Bros Coffee

by Amy Works July 15, 2025

EL CENTRO, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $2.6 million sale of a single-tenant retail building located in El Centro. Dutch Bros Coffee occupies the drive-thru property on a 15–year, absolute triple-net-lease with 10 percent rental increase every five years. Formerly a Wendy’s restaurant, the 2,411-square-foot building was originally built in 1988. Situated on an outparcel to a Vons-anchored retail center, nearby tenants include Smart & Final Extra!, Dollar General Market, Costco, Lowe’s Home Improvement, Target and Ashley Furniture. Bill Asher, Jeff Lefko and Beau Velten of Hanley Investment Group represented the seller and developer, Portland-based Cole Valley Partners, in the transaction. Bill Johnson of KW Commercial represented the buyer, a Northern California-based private investor.

July 15, 2025

Acquisitions Illinois Midwest Restaurant Retail

Boulder Group Brokers $2.7M Sale of Chipotle-Occupied Retail Building in Chicago Heights

by Kristin Harlow July 15, 2025

CHICAGO HEIGHTS, ILL. — The Boulder Group has brokered the $2.7 million sale of a retail building net leased to Chipotle in Chicago Heights. The newly constructed property at 1399 W. Lincoln Highway features a drive-thru. Chipotle has a new 15-year lease with 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based commercial real estate company. The buyer was a 1031 exchange investor based in California. As of 2025, there are 3,752 Chipotle locations worldwide.

July 15, 2025

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