Friday, July 18, 2025
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Retail

Shops-Dos-Lagos-Corona-CA
AcquisitionsCaliforniaRetailWestern

Barret Woods & OERP Purchases The Shops at Dos Lagos in Corona, California for $47.4M

by Amy Works

CORONA, CALIF. — Barret Woods & OERP LLC has purchased The Shops at Dos Lagos, a lifestyle shopping center in Corona, for $47.4 million, or $135 per square foot. Built in 2006, The Shops at Dos Lagos offers 351,200 square feet of retail space on 47.4 acres with four in-line shop buildings, four ground-leased restaurant pads, a 15-screen movie theater and a 7,000-square-foot pad available for lease or development. Current tenants include Trader Joe’s, Express, Sunglass Hut, Bath & Body Works, Daniel’s Jewelers, Sleep Number, Papaya, Fatburger, Pinkberry, Miguel’s California Mexican Cocina, Woodranch BBQ & Grill, RA Sushi, Citrus City Grille and TAPS Fish House & Brewery. At the time of sale, the property was 91 percent occupied. The asset was the first phase of a two-phase retail shopping center development. The second phase was not included in the sale. Steve Liu, Roger Niez, Nikki Liu, Daniel Vlessing and Mohit Uppal of NAI Capital Commercial represented the seller and the buyer in the deal.

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10710-Firestone-Blvd-Norwalk-CA
AcquisitionsCaliforniaRetailWestern

Paragon Commercial Acquires Vacant 25,977 SF Property in Norwalk for $7.1M

by Amy Works

NORWALK, CALIF. — Paragon Commercial Group has purchased a vacant retail property situated on 2.3 acres at 10710 Firestone Blvd. in Norwalk. RSM Properties sold the asset for $7.1 million. Paragon plans to redevelop the 25,977-square-foot building for Chick-fil-A. An Office Depot and a coffee chain formerly occupied the property. Pat Wade and Alex Kozakov of CBRE represented Paragon in the off-market transaction.

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AcquisitionsIllinoisMidwestRetail

Newcastle Properties Buys 42,452 SF Orchard Plaza Retail Center in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Newcastle Properties has purchased Orchard Plaza in Skokie for an undisclosed price. This is the first time the 42,452-square-foot retail center has sold in over 60 years. Located near Old Orchard Mall at the corner of Skokie Boulevard and Gross Point Road, the property is home to tenants such as Bonefish Grill, Men’s Wearhouse, Advance Auto and the U.S. Post Office. Beth Sansiper and Jeff Gurian of Becker Gurian represented Newcastle Properties in the transaction. Drew Trammell of Newcastle Properties managed the underwriting and closing. The seller was not provided.

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movie theater
AcquisitionsRetailSouth CarolinaSoutheast

Cushman & Wakefield Brokers $14.3M Sale of Movie Theater-Occupied Property in Metro Charleston

by Julia Sanders

MOUNT PLEASANT, S.C. — Cushman & Wakefield has brokered the sale of a movie theater-occupied property on a seven-acre site located in Mount Pleasant, about 9.5 miles from Charleston. The sales price was $14.3 million. Nick Tanana and Brady Dashiell of Cushman & Wakefield represented the seller, Knoxville, Tenn.-based Regal Cinemas, which operates a 33,000-square-foot movie theater onsite called Regal Cinebarre. Collett Capital was the buyer. Built in 2005, the site currently has no tenants now that Regal Cinemas sold the property. Located at 963 Houston Northcutt Blvd., the site is just over the Arthur Ravenel Jr. Bridge and is easily accessible from downtown Charleston.

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AcquisitionsNew JerseyNortheastRetail

Irgang Group Acquires 393,000 SF Union Lake Crossing Shopping Center in Millville, New Jersey

by Taylor Williams

MILLVILLE, N.J. — New York-based investment and management firm Irgang Group has acquired Union Lake Crossing, a 393,000-square-foot grocery-anchored shopping center in Millville, located in the southern part of the state. Built on 43.3 acres in 2006, the property houses tenants such as Shoprite, Kohl’s, Ross Dress for Less, Staples and PetSmart. Restaurant users include Buffalo Wild Wings, Moe’s Southwest Grill and Sonic. Ben Bruner of Bruner Group represented Irgang Group in the transaction. Chris Munley, James Galbally and Colin Behr of JLL represented the seller, Goodman Properties.

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Michael Takacs Mall Redevelopment
BohlerContent PartnerFeaturesMidwestNortheastRetailSoutheastTexas

Outside the [Big] Box Tips for Filling Empty Retail Space

by Sarah Daniels

Mall and shopping center owners nationwide are faced with the vacancy of major big box anchors that have closed their doors due to the continued uptick in online retail and changing shopping habits and desires of today’s consumers. Often massive, these two-story, or even three-story spaces seem impossible to fill with the decline of most brick and mortar retail stores. Developers are being challenged to think outside the [big] box to find new tenants and creative uses for the space. Malls were originally thought of as community centers for neighborhoods during the mall boom. That attitude fell by the wayside as malls removed their socially engaging aspects and lost their sense of place  — instead of being a place for the community to gather, the mall became simply a place to shop. Now, largely expedited by the pandemic, there have been seismic shifts in retail and shopper habits/what the consumer wants out of their shopping experience. The key word here is experience. Malls have had to readapt to fill in vacant spaces from large department stores that consumers no longer favor. This has opened up a lot of atypical uses, from distribution centers to residential to entertainment components to medical facilities. …

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Arbor Square
AcquisitionsGeorgiaRetailSoutheast

Joint Venture Sells Arbor Square Shopping Center in Douglasville, Georgia for $18.4M

by Julia Sanders

DOUGLASVILLE, GA. — A joint venture between Connolly and Coro Realty has sold Arbor Square, a 127,195-square-foot shopping center in Douglasville. ALTO Real Estate Funds, which has offices in Dallas and Denver, purchased the property for approximately $18.4 million. Mark Joines and Drew Fleming of Newmark arranged the sale. Developed by Connolly in 1977, Arbor Square was fully renovated in 2018 and was 97 percent occupied at the time of sale to tenants such as Burlington, HomeGoods, Skechers, Starbucks, Five Guys and Del Taco. The center is situated just off Interstate 20 at the intersection of Georgia State Route 5 and Douglas Boulevard. The property is within a half-mile from Arbor Place Mall, a shopping mall with tenants such as Hot Topic, Ulta Beauty, H&M and Verizon Wireless, as well as a food court and a movie theater. Additionally, Arbor Square is located 23.9 miles from downtown Atlanta and 28.1 miles from Hartsfield-Jackson Atlanta International Airport. Connolly is an Atlanta-based real estate developer and investor. The firm has completed more than 40 retail, office and mixed-use projects in the Southeast with a value of nearly $500 million. Coro Realty, an Atlanta-based real estate development and investment firm, oversees approximately 50 …

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Town-Country-Village-Sacramento-CA
AcquisitionsCaliforniaRetailWestern

Phillips Edison Buys 216,320 SF Shopping Center in Sacramento from Donahue Schriber

by Amy Works

SACRAMENTO, CALIF. — Phillips Edison & Co. has purchased Town & Country Village, a dual grocery-anchored community shopping center in Sacramento, from Donahue Schriber for an undisclosed price. Trader Joe’s and Sprouts Farmers Market co-anchor the 216,320-square-foot shopping center. At the time of sale, the property was 91 percent leased to a variety of tenants, including Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx and Five Below. Town & Country Village is situated on 19 acres at 2601-2651 and 2717-2805 Marconi Ave. Originally constructed in 1950, the asset was most recently renovated between 2013 and 2014. Eric Kathrein, Geoff Tranchina, Bryan Ley and Gleb Lvovich of JLL represented the buyer in the deal.

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Leasing ActivityNew YorkNortheastRestaurantRetail

Ghost Kitchen Operator Opens 6,400 SF Space in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Ghost kitchen operator Kitchen United has opened a 6,400-square-foot space at 307 W. 38th St. in Midtown Manhattan where it will offer takeout and delivery of brands such as Wingstop, Jersey Mike’s Subs and Chili’s, among others. The location is the third in New York City for Kitchen United, which also recently software and ghost kitchen developer, Zuul. The acquisition saw Zuul’s existing locations in the Soho and Hudson Yards neighborhoods rebranded as a Kitchen United MIX centers last month.

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AcquisitionsMidwestOhioRetail

JLL Brokers $17.7M Sale of Derby Square Shopping Center in Grove City, Ohio

by Kristin Harlow

GROVE CITY, OHIO — JLL Capital Markets has brokered the $17.7 million sale of Derby Square in Grove City, a southern suburb of Columbus. Giant Eagle anchors the 125,250-square-foot shopping center, which is 99 percent leased. Additional tenants include Once Upon a Child, Plato’s Closet, Novacare Rehabilitation, Salon Lofts, City Barbeque, Batteries + Bulbs, H&R Block and Allstate Insurance. Derby Square is situated on 12 acres along Stringtown Road. Amy Sands, Clinton Mitchell, Michael Nieder and Bill Poffenberger of JLL represented the seller, a joint venture between Madison International Realty and SITE Centers Corp. A Midwest-based private buyer acquired the asset.

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