Retail

Walker & Dunlop Arranges $125M Construction Loan for Cassi Apartment Tower in Miami

by John Nelson June 18, 2025

MIAMI — Walker & Dunlop has arranged a $125 million construction loan for Cassi, a 20-story apartment tower located at 91 N.E. 36th St. in Miami’s Design District. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella and Michael Stepniewski led Walker & Dunlop’s New York Capital Markets team in arranging the financing on behalf of the borrower, a joint venture between the Miami Design District Associates and The Forbes Co. Amerant Bank was the lead lender, with Bank Hapoalim also participating. Cassi will feature one-, two- and three-bedroom apartments averaging 1,509 square feet in size. The tower will also include 23,000 square feet of retail space.

June 18, 2025

Acquisitions Florida Retail Southeast

Native Realty Brokers $10.3M Sale of Pinecrest Square Shopping Center in Fort Lauderdale

by John Nelson June 18, 2025

FORT LAUDERDALE, FLA. — Native Realty has brokered the $10.3 million sale of Pinecrest Square, a 40,409-square-foot shopping center located in the Fort Lauderdale neighborhood of Cypress Creek. Tenants at the property include ChenMed, 7-Eleven, Jiffy Lube, Cheers Food and Spirits and Veterinary Emergency Group. Jaime Sturgis of Native Realty represented the buyer, an entity doing business as 903 Cypress Creek LLC, in the transaction. An entity operating as Pinecrest AP LLC was the seller. Native is also leasing Pinecrest Square on behalf of the new owner.

June 18, 2025

Acquisitions Retail Southeast Virginia

Cushman & Wakefield | Thalhimer Negotiates $6.4M Sale of Metro Richmond Retail Center

by John Nelson June 18, 2025

GLEN ALLEN, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has negotiated the $6.4 million sale of Virginia Center Station, a 24,400-square-foot retail center located at 1070 Virginia Center Parkway in Glen Allen, a northern suburb of Richmond in Henrico County. Built in 2006, the unanchored shopping center was fully leased at the time of sale to seven tenants, including Chipotle Mexican Grill, Mattress Firm and Q BBQ. The retail center is situated on 4.9 acres within the larger Virginia Center Station retail development and adjacent to the redevelopment of Virginia Center Commons mall. Catharine Spangler, James Ashby IV and Annie O’Connor of Thalhimer represented the seller, an entity doing business as HDJR Central LLC & HDJR Central II LLC, in the transaction. The buyer was an entity doing business as Threelo LLC.

June 18, 2025

Acquisitions Arizona Retail Western

Continental Realty Buys 203,525 SF Sundance Towne Center Near Phoenix for $54.3M

by Amy Works June 18, 2025

BUCKEYE, ARIZ. — Continental Realty Corp. has expanded into the Phoenix market with the acquisition of Sundance Towne Center, a regional power center in Buckeye. Shin Yen Management sold the asset for $54.3 million. Located at 466 S. Watson Road, Sundance Towne Center features 203,525 square feet of retail space occupied by nearly 50 retailers and restaurants, including PetSmart, Boot Barn, Bealls Outlet, AutoZone, BMO Bank, Cracker Barrel, Dollar Tree, Dunn-Edwards Paints, Mattress Firm and Peter Piper Pizza. At the time of sale, the property was 94 percent leased. Michael Hackett, Jimmy Slusher, Ryan Schubert and Zach Aulick of CBRE represented the seller in the transaction.

June 18, 2025

Acquisitions California Retail Western

Progressive Real Estate Brokers $5.7M Sale of Retail Property in Pomona, California

by Amy Works June 18, 2025

POMONA, CALIF. — Progressive Real Estate Partners has arranged the sale of a single-tenant, triple-net leased retail property located at 601 E. Holt Ave. in Pomona. A private Southern California-based investor sold the asset to a Los Angeles-based private developer and investor for $5.7 million. Brad Umansky and Lance Mordachini of Progressive Real Estate Partners represented the seller, while Alex Smith of Rosewood Realty Corp. represented the buyer in the transaction. AutoZone Mega Hub occupies the 30,000-square-foot building, including mezzanine space. AutoZone Mega Hubs are larger format stores that feature a full-service retail storefront and a mini-distribution center for satellite stores in the surrounding region.

June 18, 2025

Acquisitions Alabama Retail Southeast

Legacy Realty Negotiates Sale of 132,737 SF Shopping Center in Enterprise, Alabama

by John Nelson June 17, 2025

ENTERPRISE, ALA. — Legacy Realty Group has negotiated the sale of Westgate Shopping Center, a 132,737-square-foot shopping center located in Enterprise, roughly 30 miles east of Dothan. Piggly Wiggly anchors the center, which features a mix of additional tenants including Petsense, H&R Block, Rituals Salon & Day Spa, Rent-A-Center, Metro by T- Mobile, Beef ‘O’ Brady’s and Yancey Parker’s. Built in 1966, the property is situated on 6.4 acres, according to LoopNet. Jacob Baruch, Daniel Baruch and Ari Warshaw of Legacy Realty Group Advisors represented the buyer in the transaction. Pat Leggett of Century 21 Regency Realty represented the seller.

June 17, 2025

Leasing Activity Restaurant Retail Texas

TORA to Open New Restaurant at EastVillage in Northeast Austin

by Taylor Williams June 17, 2025

AUSTIN, TEXAS — TORA, a Japanese culinary concept centered on sushi and founded by restaurateur Seigo Nakamura, will open a new restaurant at EastVillage, a 425-acre mixed-use development in northeast Austin. The menu will also feature seasonal omakase selections, premium sake and modern Japanese small plates. The opening is scheduled for December. Buffalo-based Reger Holdings owns EastVillage.

June 17, 2025

Acquisitions California Restaurant Retail Western

Goodyear Investments Acquires 10,513 SF Retail Property in West Hollywood

by Amy Works June 17, 2025

WEST HOLLYWOOD, CALIF. — Goodyear Investments, a private investor, has purchased The Shops at Hancock Lofts, a retail condominium property in West Hollywood, from an institutional owner for $13 million. Located at 8759, 8761 and 8763 Santa Monica Blvd., The Shops at Hancock Lofts features 10,513 square feet of fully leased retail space and a parking garage. Current tenants include Tender Greens, Thirty-2 Dentistry and Crossroads Trading. Patrick Wade and Alex Kozakov of CBRE represented the seller in the transaction.

June 17, 2025

Acquisitions California Retail Western

Tova Capital, Shopton Capital Buy Retail Building in Santa Monica, California for $5.5M

by Amy Works June 17, 2025

SANTA MONICA, CALIF. — A joint venture between Tova Capital and Shopton Capital has acquired a freestanding retail property located on a 15,000-square-foot corner lot at 801-805 Wilshire Blvd. in Santa Monica. The asset traded for $5.5 million. Originally developed in 1981, the single-story building offers 7,500 square feet of retail space. At closing, the property was 40 percent leased to Commercial Bank of California. The joint venture plans to make upgrades to the property including a new storefront, exterior lighting upgrades, paint and facade enhancements to lease vacancy and stabilize the asset. Luc Hawkshaw, Eric Mandell and Jeffrey Ahn of Ally Commercial represented the buyers in the deal. The name of the seller was not released. Ryan Gurman of CBRE has been retained to handle leasing activities at the property.

June 17, 2025

Acquisitions Colorado Retail Western

SRS Real Estate Negotiates $3.6M Ground Lease Sale of Fuel Center in Aurora, Colorado

by Amy Works June 17, 2025

AURORA, COLO. — SRS Real Estate Partners has negotiated the ground lease (land ownership) sale of a retail property in Aurora. A Denver-based private investor acquired the asset from a national REIT for $3.6 million. Built in 2024, the 1,000-square-foot property is occupied by a King Soopers fuel center on a new 20-year corporate-guaranteed lease from parent company, The Kroger Co. The property is an outparcel to Arapahoe Crossings, a 528,000-square-foot power center anchored by King Soopers. Patrick McGlinchey, Brian Wolfman, Justin Gregory and Erik Christopher of SRS Real Estate represented the seller in the deal.

June 17, 2025

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