Saturday, February 7, 2026
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Towne Lake Plaza
AcquisitionsGeorgiaRetailSoutheast

Connolly Acquires 28,000 SF Towne Lake Plaza in Metro Atlanta

by Julia Sanders

WOODSTOCK, GA. — Connolly has acquired Towne Lake Plaza, a 28,000-square-foot shopping center in downtown Woodstock. Dallas-based Murchison Commercial Real Estate Inc. sold the center for $4.1 million. Built in 1990, Towne Lake Plaza is fully leased to tenants including J. Millers Smokehouse, The Blue Ghost Arcade, Gyro Aegean Grill, Alkaline Dry Bar, Dive Georgia and Wags & Wiggle Pet Boutique. Located 30 miles northwest of Atlanta, the center is situated on Towne Lake Parkway between Interstate 575 and Main Street. Credit Union Business Services provided acquisition financing for the transaction. The Retail Planning Corp. will manage the center. Connolly’s retail services division will oversee leasing at the property.

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Bassett Furniture
AcquisitionsRetailSoutheastVirginia

Newmark Brokers Sale of 25,760 SF Retail Property in Fredericksburg, Virginia

by Julia Sanders

FREDERICKSBURG, VA. — Newmark has brokered the sale of a 25,760-square-foot retail property located at 1551 Carl D. Silver Parkway in Fredericksburg. Matt Berres, Mat Adler and Samer Khalil of Newmark represented the seller, a private Midwest-based investor. A private buyer from Los Angeles purchased the property for $3.1 million. Built in 1999, the single-tenant property is fully leased to Bassett Furniture and offers freeway visibility and ample parking. The store is located near other retailers including Ashley HomeStore, Lowe’s Home Improvement, Ethan Allen, Hobby Lobby, buybuy BABY and Total Wine & More.

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River North
DevelopmentMixed-UseMultifamilyRetailSoutheastTennesseeTop Stories

Joint Venture Breaks Ground on $263M River North Mixed-Use Project in Nashville

by Julia Sanders

NASHVILLE, TENN. — MRP Realty and Creek Lane Capital have broken ground on Phase I of River North, a 1.3 million-square-foot, master-planned, mixed-use project located along the Cumberland River in Nashville. The development cost for Phase I is $263 million. JLL brokered a $160 million construction loan for Phase I. Phase I will feature 817,070 square feet of development, including 651 apartment units, 78,000 square feet of office space and approximately 80,000 square feet of retail space spread across four buildings on the riverfront site. Phase I is slated for completion by 2023. River North is being developed on 13 acres of land in a designated Opportunity Zone across the river from Germantown, a historic district with restaurants, retailers and the Tennessee State Museum. The site was previously the location of a rail yard and shipping terminal, so the developers plan to incorporate restored warehouses and modern industrial finishes into the design of the project. A timeline for completion of all phases was not disclosed. “It’s a great opportunity for MRP to be underway on a project of such magnitude in one of Nashville’s most exciting submarkets,” says Bob Murphy, managing principal of MRP Realty. “We’ve also had the opportunity …

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2222-Market-St.-Philadelphia
Market ReportsNortheastNortheast Market ReportsPennsylvaniaRestaurantRetail

Downtown Philly Retailers, Restaurants Wait Out Delta Variant

by Taylor Williams

By Taylor Williams Relative to a year ago, life is much better right now for many retailers and restaurants in Philadelphia’s Center City district, but the recent surge of transmission of the Delta variant is keeping a key ingredient of the demand recipe at bay: office users. According to CBRE’s second-quarter report on the Philadelphia office market, the most current data available at the time of this writing, the marketwide vacancy rate was 18.9 percent at the end of that period. Specifically with regard to the downtown area, the largest office submarket by far in terms of inventory, vacancy stood at 14.7 percent at the end of the second quarter. Office metrics aside, as Philadelphia grappled with the novelty of COVID-19 in 2020, its merchants and food purveyors adapted, adjusting inventory levels, rolling out improvised outdoor seating areas and expanding takeout and curbside pick-up options.  The colder months saw the introduction of igloos — enclosed, heated nooks for private dining — as well as larger, city-led efforts to clear major retail corridors for street-side experiences, known locally as “streateries.”  The innovations saved many-a-retailer and restaurant and are likely here to continue through 2021 and beyond. Yet within the city’s most …

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The Factory
AcquisitionsDevelopmentRetailSoutheastTennessee

Holladay Purchases Factory at Franklin in Metro Nashville for $56M, Plans to Expand Office Space

by Julia Sanders

FRANKLIN, TENN. — Holladay Properties has purchased The Factory at Franklin, a former stove-making factory in Franklin, for $56 million. Madison Wenzler of Cushman & Wakefield represented Holladay in the sale, and John Haynes of the Bradley law firm provided legal counsel. The seller was not disclosed. Allen Arender of Holladay plans to oversee the redevelopment of the property, along with development partner Ronnie Wenzler of Cushman & Wakefield. Built in 1929, The Factory is a complex of 10 industrial buildings that was originally constructed for stove manufacturer Allen Manufacturing Co. In 1996, the property was converted into a retail and entertainment complex. Today, The Factory is a mixed-use destination with shops, restaurants, offices and entertainment venues located at 230 Franklin Road, about 21.5 miles from downtown Nashville. The Factory currently has restaurant tenants including Five Daughters Bakery, Franklin Juice Co., Honest Coffee Roasters, Jeni’s Splendid Ice Creams and Mojo’s Tacos. Other tenants include Amelia’s Flowers, Luna Record Shop and Jeremy Cowart Photography. The property also features the Franklin Farmers Market that sells fresh produce and crafts every week. After the redevelopment project is complete, The Factory will have about 310,000 square feet of mixed-use space. Holladay and its partners …

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DevelopmentIllinoisMidwestRetail

Museum of Ice Cream to Open at The Shops at Tribune Tower in Chicago

by Kristin Harlow

CHICAGO — The Museum of Ice Cream (MOIC) has signed a long-term lease to open a 13,544-square-foot location at The Shops at Tribune Tower in downtown Chicago. MOIC represents the first retail tenant at the newly redeveloped Tribune Tower. The retail portion spans 50,000 square feet and anchors the ground floor of the 36-story, 740,000-square-foot tower, which is located at 435 N. Michigan Ave. Owners CIM Group and Golub & Co. have transformed the property into 162 luxury condominiums and are now welcoming their first residents. The building originally opened in 1925. Plans for the Chicago MOIC include a Chicago Transit Authority-inspired L car named the Sprink-L; a giant dessert-themed putt putt course with a Chicago dog ice cream treat; and a café with outdoor seating. The opening is scheduled for spring 2022. Chicago joins New York City and Austin as the only U.S. cities with a permanent location for MOIC.

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AcquisitionsMichiganMidwestRetail

Continental Realty Corp. Acquires Two Retail Centers in Michigan for $34M

by Kristin Harlow

TROY, MICH. — Continental Realty Corp. (CRC) has acquired Oakland Plaza and Oakland Square, two shopping centers totaling nearly 392,000 square feet in Troy. The combined purchase price was $34 million. Together, the properties were 87 percent leased at the time of acquisition. Tenants include TJ Maxx, HomeGoods, Kohl’s, Bed Bath & Beyond, DSW, Michaels and Planet Fitness. Amy Sands and Clinton Mitchell of JLL represented the undisclosed seller. This was the first acquisition for CRC’s Opportunistic Retail Fund, a private equity fund formed this year to acquire value-add retail properties throughout the country. Completed in 1979 and renovated in 1994 and 2014, Oakland Plaza consists of three buildings and three outparcels comprising 171,518 square feet. It is 71 percent leased to 16 tenants. Delivered in 1986 with additional construction completed in 1997, the three-building Oakland Square spans 220,226 square feet. The asset is fully leased to seven tenants. Baltimore-based CRC now owns and manages more than 5 million square feet of commercial space across nine states.

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19001-Brookhurst-St-Huntington-Beach-CA
AcquisitionsCaliforniaNet LeaseRetailWestern

Stanford Hotels Group Sells Walgreens-Occupied Retail Building in Huntington Beach for $11.3M

by Amy Works

HUNTINGTON BEACH, CALIF. — Stanford Hotels Groups has completed the sale of a single-tenant retail property located at 19001 Brookhurst St. in Huntington Beach. A private 1031 exchange investor acquired the asset for $11.3 million. Walgreens occupies the 11,838-square-foot building on a triple-net, long-term lease. The tenant has occupied the property, which sits on 1.3 acres, since it was constructed in 2007. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the buyer in the transaction.

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58132-Twentynine-Palms-Hwy-Yucca-Valley-CA
AcquisitionsCaliforniaRetailWestern

Progressive Real Estate Brokers $2M Sale of Multi-Tenant Retail Pad in Yucca Valley, California

by Amy Works

YUCCA VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail pad located at 58132 Twentynine Palms Highway in Yucca Valley. The asset traded for $2 million in a 1031 exchange transaction. Tenants at the 6,518-square-foot property include Gamestop, Verizon Wireless and Metro PCS. The building is an outparcel to a 212,000-square-foot shopping center that is anchored by Stater Bros. Greg Bedell of Progressive Real Estate represented the seller, while Victor Buendia, also of Progressive Real Estate, represented the buyer in the transaction.

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DevelopmentHospitalityMidwestMixed-UseMultifamilyOhioRetailTop Stories

Main Street Community Capital Unveils $1.3B Mixed-Use Destination Plans in Metro Cincinnati

by Katie Sloan

MIDDLETOWN, OHIO — Main Street Community Capital has unveiled plans for Hollywoodland, a 50-acre mixed-use development along the Great Miami River in Middletown. The city, which boasted a population of about 50,000 residents as of the 2020 census, is located 25 miles southwest of Dayton and 30 miles northeast of Cincinnati. Development costs for the project are estimated at $1.3 billion. The Middletown City Council met for over six hours this week to discuss the project with the public. The official vote on approving or denying the development is scheduled for Oct. 21. If approved, Hollywoodland would be a public-private partnership between the city and Main Street Community Capital. If approved, the development would include:  A luxury hotel with an attached, publicly owned convention center, rooftop bar and themed restaurants;  a family-oriented hotel with a water park; the adaptive redevelopment of an existing First National Bank building into a boutique hotel;  an indoor entertainment and concert venue;  an indoor amusement park;  3,000 deck-based parking spaces;  luxury, mid-rise multifamily units and condominiums;  a pre- and post-production motion picture studio with sound stages and support offices;  restaurants, bars, brew-pubs and cafes;  a comedy club; and lifestyle, convenience and recreational retail space.  The project …

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