Retail

SRS Brokers $4.9M Sale of Wawa-Occupied Gas Station and Convenience Store in Davie, Florida

by John Nelson March 10, 2025

DAVIE, FLA. — SRS Real Estate Partners has brokered the $4.9 million ground lease (land ownership) sale of a gas station and convenience store located at 2500 Davie Road in Davie. Pennsylvania-based chain Wawa fully occupies the 5,636-square-foot property on a corporate-guaranteed lease. The property was built in 2019 and is situated on 1.4 acres nearly 28 miles north of Miami. A South Florida-based development and investment firm sold the asset to a private investor, also from South Florida, in a 1031 exchange. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller in the transaction.

March 10, 2025

Acquisitions Colorado Retail Western

Malman Real Estate Brokers Sale of Honey Baked Ham-Occupied Property in Westminster, Colorado for $1.5M

by Amy Works March 10, 2025

WESTMINSTER, COLO. — Malman Real Estate has arranged the acquisition of a building located at 8900 Wadsworth Blvd. in Westminster for $1.5 million. Honey Baked Ham Co. occupies the 3,880-square-foot property. Jake Malman of Malman Real Estate represented the buyer, Ramarko LLC, a Michigan limited liability, while Matt Henricks of CBRE represented the seller, TC Brookhill RLLP, in the deal.

March 10, 2025

Leasing Activity Midwest Restaurant Retail Wisconsin

Hines Inks 11-Year Lease for New Milwaukee Restaurant Cassis

by Kristin Harlow March 10, 2025

MILWAUKEE — Hines has completed an 11-year lease for James Beard-nominated Chef Kyle Knall’s newest restaurant, Cassis, to be located on the ground floor of Hines’ newly built luxury apartment community in Milwaukee. The riverfront French bistro, slated to open late this year, will span 5,175 square feet with an additional 1,100 square feet of outdoor patio space at 333 Water Street. The property, which marks the first luxury apartment tower to be located in Milwaukee’s Historic Third Ward, features amenities such as a sports lounge with golf simulator and resort-style pool and deck area.

March 10, 2025

Leasing Activity Retail Texas

Burlington to Open 20,350 SF Store at Shops at Stone Park in East Houston

by Taylor Williams March 10, 2025

HOUSTON — Burlington will open a 20,350-square-foot store at The Shops at Stone Park, a 250,000-square-foot retail power center in East Houston. The discount clothing retailer will backfill a space formerly occupied by Staples, joining a tenant roster that includes J.C. Penney, Best Buy, Marshalls, Rack Room Shoes and Chick-fil-A. Greg Stackhouse of New Regional Planning represented Burlington in the lease negotiations. Nina Irwin of NewQuest represented the landlord on an internal basis.

March 10, 2025

Leasing Activity New York Northeast Retail

Gymshark Signs 15,000 SF Retail Lease in Manhattan’s NoHo District

by Taylor Williams March 10, 2025

NEW YORK CITY — Gymshark has signed a 15,000-square-foot retail lease in Manhattan’s NoHo district. The British fitness apparel and accessories retailer will occupy the entirety of the building at 11 Bond St., which was originally constructed in 1913, for its flagship U.S. store. Joel Stephen of CBRE represented Gymshark, which plans to open later this year, in the lease negotiations. Brandon Singer of Retail by MONA represented the landlord, RFR.

March 10, 2025

Development Florida Loans Mixed-Use Retail Southeast

Aztec Group Arranges $28.3M Construction Loan for Square at Lotis Wellington Retail Center in South Florida

by John Nelson March 7, 2025

WELLINGTON, FLA. — Aztec Group has arranged $28.3 million in construction financing for the completion of The Square at Lotis Wellington, the retail phase of the larger 120-acre Lotis Wellington mixed-use development in Wellington, about 16 miles west of West Palm Beach. Boca Raton-based JKM Developers launched the development with its in-house general contractor and now has secured financing from Amerant Bank. Sean Harrington of Aztec Group arranged the financing on behalf of JKM. According to the South Florida Business Journal, the loan will cover nearly 100,000 square feet of two inline retail buildings that will include offices, restaurant outparcels, a daycare and early learning center, as well as a three-level parking garage. The overall mixed-use development of Lotis Wellington is scheduled for completion in the second quarter of this year. Additional phases of the development comprise 372 multifamily units and two medical offices totaling 60,000 square feet.

March 7, 2025

Kentucky Leasing Activity Retail Southeast

F45 Training Signs Retail Lease at Pleasant Ridge Commons in Lexington, Kentucky

by John Nelson March 7, 2025

LEXINGTON, KY. — F45 Training, a global fitness company that provides high-intensity group exercise programs, has signed a 3,904-square-foot lease in the mixed-use development of Pleasant Ridge Commons in the Hamburg trade area of Lexington. This marks F45 Training’s second Lexington location. Al Isaac and Zach Smith of NAI Isaac represented the tenant in the lease negotiations. Fahr Juneja and Cole Sturgeon of Gulfstream Commercial Services represented the undisclosed landlord.

March 7, 2025

Acquisitions Georgia Loans Retail Southeast

Marcus & Millichap Brokers $3.7M Sale of Net-Leased Walgreens Retail Property in Lawrenceville, Georgia

by John Nelson March 7, 2025

LAWRENCEVILLE, GA. — Marcus & Millichap has arranged the $3.7 million sale of a net-leased Walgreens retail property in Lawrenceville, roughly 30 miles northeast of downtown Atlanta. Built in 2004, the freestanding property is situated on 1.2 acres. Walgreens has just under 10 years remaining on its corporate-guaranteed, absolute-net lease with options to renew. Ashish Vakhariya, Darin Gross and Seth Haron of Marcus & Millichap’s Detroit office marketed the property on behalf of the undisclosed seller and procured the buyer, a local private investor, in the transaction. John Leonard is the firm’s broker of record in Georgia. Additionally, Luke Lamoreaux of Marcus & Millichap Capital Corp. (MMCC), a subsidiary of Marcus & Millichap, secured acquisition financing for the asset.

March 7, 2025

Development New Hampshire Northeast Restaurant Retail

Reports: ECL Entertainment Opens 130,000 SF Nash Casino in Nashua, New Hampshire

by Taylor Williams March 7, 2025

NASHUA, N.H. — Las Vegas-based gaming operator ECL Entertainment has opened the 130,000-square-foot Nash Casino in Nashua, located near the Massachusetts-New Hampshire border, according to reports from local publications such as The Boston Globe and Sentinel & Enterprise. The Globe reports that the Nash Casino is housed within the former Sears building at Pheasant Lane Mall and features 1,000 gaming machines, three restaurants, two additional bars and a four-bay Topgolf Swing Suite simulator. Project partners included general contractor Dimeo Construction Co., architect Perkins Eastman, FEA Consulting Engineers and Wayne J. Griffin Electric.

March 7, 2025

California Development Hospitality Loans Multifamily Retail Western

IPA Arranges $60.9M in Redevelopment Financing for Mixed-Use Project in Huntington Beach, California

by Amy Works March 7, 2025

HUNTINGTON BEACH, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $60.9 million in financing for a 28.9-acre oceanfront redevelopment project in Huntington Beach. Gary Mozer of IPA Capital Markets secured the 18-month, nonrecourse loan on behalf of a California-based investment and development firm. The borrower plans to develop a residential and hospitality property, which was approved by the Huntington Beach City Council, on the parcel. The residential plan includes more than 200 for-sale, single-family detached and attached homes and a 50-unit affordable housing community with 25 units to be rented to hotel workers employed onsite and nearby. The hospitality component will include a 215-room boutique hotel with 19,000 square feet of retail space. Additionally, the project plan includes 2.8 acres of coastal conservation and 4.4 acres of public parks. The project is currently in predevelopment with construction slated to commence near the end of the year.

March 7, 2025

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