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DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Toro Development Signs Six New Tenants at 43-Acre Medley Mixed-Use Project in Metro Atlanta

by John Nelson

JOHNS CREEK, GA. — Six new tenants have signed leases at Medley, a 43-acre mixed-use property currently underway in the north Atlanta suburb of Johns Creek. Locally based Toro Development Co. is the master developer of the project and plans to break ground in January. The newly signed tenants include Sephora, Rena’s Italian Fishery & Grill, High Country Outfitters, BODYROK, Petfolk and an undisclosed grocer. Previously announced tenants for the development, which is now roughly 75 percent leased, include Ford Fry’s Little Rey, CRÚ Food & Wine Bar, Fadó Irish Pub, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, AYA Medical Spa, 26 Thai Kitchen and Bar, Five Daughters Bakery, Drybar Shops, Minnie Olivia, Burdlife, AMorino, Pause Studio, Fogón and Lions and Clean Your Dirty Face. Medley is currently about 75 percent leased. Upon completion in late 2026, Medley will comprise 150,000 square feet of retail, restaurant and entertainment space; a 175-room boutique hotel; 110,000 square feet of office space; 750 multifamily residences and 133 townhomes; and a 25,000-square-foot plaza. Toro also recently announced that it obtained construction financing for the project, including an undisclosed amount of equity from Ascentris, as well as a $158 million loan …

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AcquisitionsDevelopmentRetailSouth CarolinaSoutheast

Madison Commercial Completes, Sells 9,543 SF Retail Property in Metro Charlotte

by John Nelson

ROCK HILL, S.C. — Madison Commercial, an affiliate of Madison Capital Group, has completed and sold Phase II of its retail property in Rock Hill, a South Carolina suburb of Charlotte. The 9,543-square-foot building is fully leased to national tenants including Deca Dental, First Watch, Panda Express and Tropical Smoothie Café. Atlantic Retail brokered the sale. The buyer and sales price were not disclosed. The project team for Phase II included architect Redline Design and general contractor Doerre Construction. Phase I of the development began with Madison Capital affiliate, Go Store It Self Storage, transforming a big-box retail building on the back lot of the 3.6-acre site into a self-storage facility totaling 850 units. Phase I also included a retail building occupied by Chipotle, Wing Stop and My Eye Lab that previously sold.

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AcquisitionsLoansMississippiRetailSoutheast

MMCC Arranges $3.5M Acquisition Loan for Shopping Center in Clinton, Mississippi

by John Nelson

CLINTON, MISS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.5 million acquisition loan for Clinton Plaza, a 97,000-square-foot shopping center located at 200 Clinton Blvd. in Clinton, about 12 miles west of Jackson. The tenant roster includes Big Lots, Family Dollar and Beauty Zone. David Johnson of MMCC’s Atlanta office arranged the loan through CRE Bridge Equity on behalf of the undisclosed borrower. The seller and sales price for Clinton Plaza was not disclosed.

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AcquisitionsNortheastPennsylvaniaRetail

CBRE Brokers Sale of 103,325 SF Retail Center Near Philadelphia

by Taylor Williams

NORTH WALES, PA. — CBRE has brokered sale of The Shoppes at English Village, a 103,325-square-foot retail center in North Wales, about 25 miles north of Philadelphia. Trader Joe’s anchors the property, which was 95 percent leased at the time of sale. Other tenants include LensCrafters, Athleta, CycleBar, Hallmark, Chopt and Talbots. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE represented the seller, MetLife Investment Management, in the transaction. Adam Spengler and Tom Traynor, also with CBRE, arranged acquisition financing on behalf of the buyer, Nuveen Real Estate.

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Leasing ActivityNew YorkNortheastRetail

HAPIK to Open 15,000 SF Indoor Climbing Gym in Brooklyn

by Taylor Williams

NEW YORK CITY — Fitness operator HAPIK has signed a lease to open a 15,000-square-foot indoor climbing gym in the Sunset Park area of Brooklyn. The gym will be located within Building 6 at the 35-acre Industry City mixed-use development and will feature 50 climbing walls, two rope courses and private event spaces. Chase Welles of TSCG represented the landlord, a partnership between Belvedere Capital, Jamestown and Angelo Gordon & Co., in the lease negotiations. The tenant representative was not disclosed.

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Burlington-Mall
Market ReportsNortheastNortheast Market ReportsRetail

Northern Attitude: Optimism for Retail

by Taylor Williams

By Hayden Spiess Though uncertainty — economic, political and otherwise — has been a theme of 2024, retail real estate markets throughout the Northeast have proven itself reliably strong. Even certain headwinds like high construction costs and minimal quality space to accommodate growth have ultimately helped fuel robust fundamentals throughout the region. Now, brokers, investors and developers in those markets are looking ahead with optimism and faith in persisting tailwinds.   Quality Space Shortage Vacant retail space in Northeast markets has been hard to come by this year, and professionals in the region aren’t expecting that to change anytime soon. The equation, they say, is simple. While retailers’ appetite for expansion has remained healthy, new construction and deliveries have been very limited.  “Almost nothing has been built in the past 10 years,” says Dan Zelson, principal with Charter Realty. “There’s really just very little new product.”  Steve Gillman, partner at The Shopping Center Group (TSCG), notes that while some smaller, single-tenant buildings may still be coming on line, “nobody is building a big strip center with 100,000 square feet.”  “There’s that imbalance of supply and demand: demand by the retailer and lack of supply of space,” adds Daniel Taub, senior …

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DevelopmentLeasing ActivityRetailSoutheastTennessee

Dollar General to Open 575 New Stores in 2025

by John Nelson

GOODLETTSVILLE, TENN. — Dollar General plans to open approximately 575 new stores in the United States in its fiscal year 2025, which ends Jan. 30, 2026. The Goodlettsville-based discount retailer will also debut 15 new stores in Mexico in that time frame. The new store count is in addition to Dollar General’s expected 730 new store openings in fiscal 2024, which will end on Jan. 31, 2025. Overall, the company expects to execute nearly 5,000 real estate projects in fiscal year 2025, including 4,250 store remodels and relocating 45 stores.

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DevelopmentRetailTexas

Weber & Co. to Develop 225,000 SF Shopping Center in Little Elm, Texas

by Taylor Williams

LITTLE ELM, TEXAS — Locally based developer Weber & Co. will build a 225,000-square-foot shopping center in Little Elm, located on the northern outskirts of Dallas. Target will anchor the center, which will be known as Bates Town Crossing in honor of the family that originally owned the site. Davidson Bogel Real Estate brokered the sale of the land on behalf of the Bates family and has been retained as the center’s leasing agent. A construction timeline was not announced, but Target plans to open by summer 2026.

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1135-E-Evans-Ave-Denver-CO
AcquisitionsColoradoRetailWestern

Malman Commercial Brokers $1M Sale of Retail Property in Denver

by Amy Works

DENVER — Malman Commercial Real Estate has arranged the sale of 1135 E. Evans Ave. and 2085 S. Downing St. in Denver. Mazon Evans LLC acquired the assets from Downing & Evans LLP for $1 million. The asset offers 6,700 square feet of retail space. Jake Malman of Malman Commercial represented the buyer, while Mark Pyms of Panorama Commercial Brokerage represented the seller in the deal.

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AcquisitionsIllinoisMidwestRetail

Quantum Brokers Sale of 57,832 SF Retail Center in DeKalb, Illinois

by Kristin Harlow

DEKALB, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 57,832-square-foot retail center in DeKalb for an undisclosed price. The center was 63 percent leased at the time of sale to tenants such as Ollie’s, GNC and Little Caesars. Dan Waszak, Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, GW Properties. The buyer was a private group based out of Miami.

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