HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 31,113-square-foot shopping center located at 10750 Barker Cypress Road in northwest Houston. Known as Lakes of Riata Retail Center, the property is home to tenants such as Domino’s Pizza, Shipley Donuts, Anytime Fitness and The Cupcake Cowgirls. The buyer and seller were not disclosed.
MOBILE, ALA. — Mobile-based Burton Property Group and Peaceable Street Capital have closed the $123 million recapitalization of a four-property shopping center portfolio in Alabama. The properties include Riviera Square and Foley Square in Foley, Jubilee Square in Daphne and Westwood Plaza in Mobile. The 785,000-square-foot portfolio was 98 percent leased at the time of the recapitalization, details of which were not disclosed. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL arranged the financing on behalf of Burton Property Group, which will use its newfound capital flexibility on its mixed-use projects including the 1,300-acre South Alabama Logistics Park and River Walk Plaza, both in Mobile.
FORT WAYNE, IND. — Mid-America Real Estate Corp. has arranged the sale of Covington Plaza, a 182,051-square-foot shopping center in Fort Wayne. Anchor tenants include The Fresh Market, Office Depot, Planet Fitness and The Woodhouse Day Spa. Other tenants include Pet Supplies Plus, Tequila Mexican Cantina, Cap n’ Cork, Christopher James Menswear and Catablu Grille. Ben Wineman, Joe Girardi, Rick Drogosz and Eric Geskermann of Mid-America represented the seller, Broad Reach Retail Partners. Charleston, S.C.-based Ziff Real Estate Partners was the buyer.
ACWORTH, GA. — Marcus & Millichap has brokered the $2.7 million sale of a newly built restaurant located at 3558 Cobb Parkway NW in Acworth, a northwest suburb of Atlanta. Whataburger occupies the freestanding restaurant, which features a double drive-thru, on a new 15-year corporate ground lease. Don McMinn and Andrew Koriwchak of Marcus & Millichap represented the seller, an unnamed developer based in Georgia, in the transaction. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap procured the unnamed buyer. The 3,318-square-foot Whataburger restaurant was delivered in April and is adjacent to a Walmart Super Center and Super Target.
MANVEL, TEXAS — Northmarq has brokered the sale of Sedona Lakes Plaza, a 14,803-square-foot retail strip center in Manvel, located south of Houston. The center was fully leased at the time of sale to tenants such as HOTWORX, Smart Core Labs and Behavioral Innovations. Riley Sharman led the Northmarq team that represented the seller, a Houston-based developer, in the transaction. The buyer was Dallas-based Metro Real Estate LLC.
MOUNT PLEASANT, S.C. — JLL Capital Markets has arranged a $14.3 million loan for the refinancing of The Plaza at East Cooper, a 102,731-square-foot shopping center located in Mount Pleasant, roughly two miles from downtown Charleston. Eric Tupler, Rob Bova and Ellie Savage of JLL’s Debt Advisory team, along with Alexis Kaiser of JLL’s Charlotte office, represented the borrower, an entity doing business as Bamoza LLC, in securing the loan through an unnamed insurance company lender. Aldi anchors The Plaza at East Cooper, which was 85 percent leased at the time of sale to tenants including Firehouse Subs, Batteries Plus and 843 Nail & Spa. The center was originally built in 1975 on roughly 37 acres, according to LoopNet.
VANCOUVER, WASH. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a grocery-anchored retail center in Vancouver. Situated on 28 acres at 408-512 NE 81st St., Hazel Dell offers 227,680 rentable square feet spread across 11 buildings. Current tenants include Safeway, Ross, Marshalls and Parkrose Hardware. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s exclusive correspondent life company lenders and features an introductory interest-only period and a 30-year amortization schedule. Gantry will service the loan.
VERNON HILLS, ILL. — Fortec has acquired a 15,040-square-foot former ambulance warehouse at 401 W. Sullivan Drive in the Chicago suburb of Vernon Hills. The $1.7 million acquisition is part of a $5 million investment to transform the property into The Nest School-Vernon Hills, an early education center scheduled to open in spring 2026. Fortec has signed a lease with The Nest Schools, a childhood education operator with more than 50 schools nationwide. Construction is scheduled to begin this month, with planned improvements including a full interior renovation, the addition of an outdoor playground and a modern redesign led by New Look Architecture. The property formerly served as a Superior Ambulance headquarters. Fortec is financing the project with a lender partner and expects to complete construction by mid-2026. Northmarq’s Milo Spector represented Fortec in the deal.
WESTLAND, MICH. — Bargain House Outlet has signed an 8,160-square-foot retail lease at One Michigan Place in Westland, a western suburb of Detroit. The tenant will move into the former Family Dollar space at the Kroger-anchored shopping center. Owen Kelly and Michael Murphy of Gerdom Realty & Investment represented the landlord, Axiom Properties. The deal was completed within the first week of listing the property for lease.
HOUSTON — Northmarq has brokered the sale of Ella Plaza, an 82,073-square-foot shopping center in North Houston. The center was 90 percent leased at the time of sale, with Advance Auto Parts, CSL Plasma and the Harris County Public Health Department serving as the anchor tenants. Riley Sharman led the Northmarq team that represented the buyer, Sega Development LLC, which acquired the asset in a 1031 exchange, in the transaction. Dakota Workman of NewQuest represented the seller, locally based firm True Saga LLC. The sales price was not disclosed.