ATLANTA — Simon has introduced 18 new and expanded retailers debuting at Lenox Square, a 1.5 million-square-foot retail destination located in Atlanta’s Buckhead district. Nine of the tenants are now open and operating at Lenox Square, including three expanding concepts: Rolex, Burberry and Ferragamo. The other six opened stores are Good American, AllSaints, Ray-Ban, Rowan, Starbucks Coffee and Claire’s. Nine more concepts are set to open later this year, including IWC, Panerai, Mejuri, Cole Haan, Garage, Lovisa, Levi’s, Kelly’s Cajun Grill and Great American Cookie Company/Marble Slab. David Vinehout serves as Simon’s vice president of leasing at Lenox Square and Phipps Plaza, another high-end shopping mall in Buckhead that Simon owns and operates. Lenox Square is anchored by Bloomingdale’s, Neiman Marcus and Macy’s and includes 250 specialty stores and several restaurants, including The Cheesecake Factory, North Italia and True Food Kitchen.
ASHEVILLE, N.C. — An affiliate of Lone Star Funds has sold The Lofts at Reynolds Village, a mixed-use development located at 61 N. Merrimon Ave. in Asheville. The property includes 201 apartments and 63,000 square feet of ground-level retail space. Baltimore-based Continental Realty Corp. is purchasing the property from Lone Star Real Estate Fund VI LP for an undisclosed price. Walker & Dunlop represented Lone Star, which structured the deal as a sale of REIT stock, in the transaction. Built in 2010, The Lofts at Reynolds Village features one-, two- and three-bedroom apartments, as well as a pool, onsite property manager, business center, lounge, sauna and a spa, according to Apartments.com.
built retail property located at 1186 S. Main St. in Kernersville, about 20 miles west of Greensboro, N.C. Automotive services firm Firestone, a subsidiary of Bridgestone Retail Operations LLC, fully occupies the 5,798-square-foot property on a 15-year absolute triple-net lease. Don McMinn of Marcus & Millichap’s Atlanta office represented the seller, a North Carolina-based developer, in the transaction. The buyer was also not disclosed. Donald Gilchrist served as Marcus & Millichap’s broker of record in North Carolina for the deal. “The Firestone closing demonstrates the growing wave of private capital flowing into the net-lease market, fueled by the passage of the ‘Big Beautiful Bill,’ improving confidence and the prospect of interest rate cuts,” says McMinn. “We expect this momentum to carry into the second half of 2025, driven by lower interest rates, increased 1031 exchange activity and stronger deal flow.”
SAN ANTONIO — JLL has brokered the sale of Marketplace at Encino Park, an 85,129-square-foot shopping center located at 22135 Bulverde Road in the Far North submarket of San Antonio. Sprouts Farmers Market anchors the center, which was fully leased at the time of sale. Other tenants include Pet Supplies Plus, Burger King and F45. Barry Brown, Erin Lazarus, Shea Petrick and Whitney Snell of JLL represented the seller, Birnbaum Property Co., in the transaction. The buyer was Illinois-based InvenTrust Properties Corp.
FRAMINGHAM, MASS. — JLL has arranged $123.6 million in financing for a portion of Shoppers World, a 752,000-square-foot retail power center located in the western Boston suburb of Framingham. Details on the nature of the financing and the portion of the center covered by it were not disclosed. Shoppers World was 99 percent leased at the time of the loan closing to tenants such as T.J. Maxx, Marshalls, HomeSense, Sierra Trading Post, Best Buy and Dick’s Sporting Goods. Scott Aiese, Alex Staikos, Amy Lousararian and Parker Morrison of JLL arranged the four-year, fixed-rate loan on behalf of the borrower, Urban Edge Properties. The direct lender was not disclosed.
GLENOLDEN, PA. — CBRE has negotiated the sale of MacDade Commons, a 102,071-square-foot shopping center in Glenolden, a southwestern suburb of Philadelphia. Walmart anchors the center, which is also home to tenants such as Quest Diagnostics, Verizon Wireless and Work ‘N Gear. Christopher Munley, Colin Behr, Casey Smith and Ryan Sciullo of CBRE represented the undisclosed seller in the transaction. The team also procured the buyer, Agree Realty Corp.
JACKSON TOWNSHIP, N.J. — SRS Real Estate Partners has brokered the $7.5 million ground-lease sale of a newly constructed Wawa convenience store in Jackson Township, located near the Jersey Shore. The site spans 1.9 acres, and the building totals 4,736 square feet. Patrick Nutt and William Wamble of SRS represented the seller, an East Coast-based developer, in the transaction. The buyer was a New Jersey-based private investor. Both parties requested anonymity.
WESLACO, TEXAS — CBRE has negotiated the sale of Valley Crossing, a 178,594-square-foot shopping center located in the Rio Grande Valley city of Weslaco. The center was 97 percent leased at the time of sale to tenants such as J.C. Penney, T.J. Maxx and Petco. Mark Witcher, Harrison Tye and Jolie Duhon of CBRE represented the seller, an entity doing business as Capcor Weslaco Ltd., in the transaction. The buyer was Otima Investments.
TALLADEGA, ALA. — Marcus & Millichap has brokered the $2.4 million sale of Talladega Shopping Center, a 47,437-square-foot shopping center located at 803 Battle St. E in Talladega, an eastern suburb of Birmingham. Citi Trends and Standard Furniture, both of which have occupied the site for more than a decade, are the property’s anchor tenants. Additional tenants include Regional Finance and AT&T, which occupies a newly developed outparcel. The center was originally built in 1981 on 3.6 acres and was 88 percent leased at the time of sale. Eric Abbott and Zachary Taylor of Marcus & Millichap represented the seller in the transaction. Eddie Greenhalgh serves as Marcus & Millichap’s broker of record in Alabama.
NEW YORK CITY — A joint venture between Namdar Realty and Klosed Properties has acquired a retail and parking condo located at 85 Jay St. in the Dumbo area of Brooklyn for $54 million. The retail component totals 128,410 square feet, and the space is located beneath Front & York, a 21-story, 727-unit residential building. The retail space was 84 percent leased at the time of sale to tenants such as CVS, Devoción, Petit Poussins and Lazy Sundaes. Daniel O’Brien of Newmark brokered the deal. The seller was CIM Group. Max Ralby and Jordan Roeschlaub, also with Newmark, arranged $41.3 million in acquisition financing for the deal through Blue Owl Capital.