Monday, June 16, 2025
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AcquisitionsFloridaRetailSoutheast

Plaza Advisors Negotiates Sale of 47,653 SF Shopping Center in Largo, Florida

by John Nelson

LARGO, FLA. — Plaza Advisors has negotiated the sale of Central Park Plaza, a 47,653-square-foot shopping center in Largo, a city in the Tampa metro area. Jeff Berkezchuk and Jim Michalak of Plaza Advisors represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed. Situated on 4.3 acres along Missouri Avenue, Central Park Plaza was 95 percent leased at the time of sale to tenants including NAPA Auto Parts, Rent-A-Center, Boost Mobile and AMA Medical Group (Humana).

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Home-Ranch-Commons-Yorba-Linda-CA
AcquisitionsCaliforniaHealthcareMixed-UseOfficeRetailWestern

IPA Negotiates $35.6M Sale of Home Ranch Commons Medical, Retail Center in Yorba Linda, California

by Amy Works

YORBA LINDA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Home Ranch Commons, a mixed-use medical and retail property in Yorba Linda. Greenbridge Partners sold the asset to Optimus Properties LLC for $35.6 million. Tom Lagos, Mark DeGiorgio, Jose Carrazana and Patrick Toomey of IPA represented the seller in the transaction. Built in 1984 and renovated in 2018, the 60,737-square-foot Home Ranch Commons is co-anchored by UCI Health and Kiddie Academy. Additional tenants at the property include Blue Agave, YL Family Chiropractic, Bodhi Leaf Trading Co., Coder School and Torkian Aesthetic Center.

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AcquisitionsArizonaRetailWestern

Flying Horse Investments Acquires 53,630 SF Retail Center in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Flying Horse Investments (FHI) has acquired Fiesta Palms Shopping Center, a 56,630-square-foot retail center located in Mesa, roughly 20 miles outside Phoenix. A specialty grocer anchors the property, which was 83 percent leased at the time of sale. 1st Century Bank, a division of MidFirst Bank, provided acquisition financing, and Justin Weissman of 1st Century Bank arranged the bridge loan on behalf of the buyer. A local family was the seller. FHI plans to collaborate with Pegasus Capital Markets to secure permanent financing for the property.

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AcquisitionsMidwestMissouriRetail

Marcus & Millichap Arranges $5.2M Sale of Two O2B Kids-Occupied Retail Properties in Missouri

by Kristin Harlow

ST. CHARLES AND LAKE ST. LOUIS, MO. — Marcus & Millichap has arranged the $5.2 million sale of two retail properties net leased to O2B Kids in Missouri. The early childhood education facilities are located at 157 Hughes Lane in St. Charles and 1000 Wyngate Ridge Drive in Lake St. Louis. The 5,733-square-foot Hughes Lane property was built in 1997, and the 7,634-square-foot Wyngate Ridge building was constructed in 2006. Both assets operate under new 20-year triple-net leases. Dominic Sulo of Marcus & Millichap procured the undisclosed buyer.

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Leasing ActivityNew JerseyNortheastRetail

Jersey Pickleball Club to Open 13,800 SF Venue at Bell Works in Holmdel, New Jersey

by Taylor Williams

HOLMDEL, N.J. — Jersey Pickleball Club will open a 13,800-square-foot venue at the Bell Works mixed-use development in Holmdel. The venue, which is scheduled to open in mid-March, will have five courts, social areas and locker rooms. Other tenants that will be opening in 2025 at Bell Works, which is owned by Inspired by Somerset Development, include restaurant Mabel, barbershop Exclusive Cuts and fitness concept ARMR Studios.

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Velvet-Taco-Grapevine
Market ReportsRetailTexasTexas Market Reports

Texas Retail Owner’s Dilemma: Buy, Build or Bail?

by Taylor Williams

By Taylor Williams “The greatest victory is one that doesn’t require a battle.” Ancient Chinese military strategist Sun Tzu penned that line as part of The Art of War, but in applying the expression to the (almost) equally cutthroat business of developing and investing in retail real estate, there is some wisdom to be gleaned. In simple terms, sometimes the best decision, at least temporarily, is to do nothing.  Passivity does not come easily to commercial builders and buyers. Where their investors are concerned, these companies often have strict timelines for deployment of funds and even stricter benchmarks for guaranteed returns. When market conditions are favorable, these groups are pressured to maximize growth, in terms of both direct mandates from shareholders and indirect obligations via competitors being aggressive in the market. For better or worse, the market sentiments surrounding real estate development and investment embody classic principles of capitalism, and that’s unlikely to ever change.  But if there is one thing developers, investors, lenders and operators across all asset classes can likely agree on, it’s that market conditions in 2024 have not been favorable. Yet the push for growth has merely slowed, not disappeared. New product must get developed to …

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Pflugerville-Downtown-East
CivicDevelopmentMixed-UseRetailTexas

Swinerton, Byrne Construction Break Ground on Mixed-Use Project in Pflugerville, Texas

by Taylor Williams

PFLUGERVILLE, TEXAS — General contractors Swinerton and Byrne Construction Services have broken ground on a mixed-use project in downtown Pflugerville, a northern suburb of Austin. Known as Pflugerville Downtown East, the development will feature a four-story, 104,000-square-foot city hall building that will house various public service departments, as well as a three-story, 140,000-square-foot recreation center that will also have 10,500 square feet of retail space. The project will also include an outdoor civic plaza. Completion is slated for fall 2026.

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AlabamaDevelopmentMixed-UseMultifamilyRestaurantRetailSoutheast

WSS Development Delivers $100M Mixed-Use Community in Huntsville, Alabama

by John Nelson

HUNTSVILLE, ALA. — WSS Development has delivered 2020 at Providence, a $100 million mixed-use community in Huntsville. The property features 360 upscale apartments with 12 different floor plans with monthly rental rates ranging from $1,530 to $4,890, according to Apartments.com. Amenities include a rooftop pool and lounge, fitness center, sky room, onsite coworking and conference rooms, resident courtyard and a game room with a golf simulator. Additionally, 2020 at Providence features approximately 23,000 square feet of retail space leased to tenants including Starbucks, Society Salon, Providence Wine Bar, Dolce Amore Italian Restaurant, Whitt’s Frozen Custard, Cajun Roux and Loona’s Breakfast & Lunch Café.

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AcquisitionsFloridaRetailSoutheast

Garden Commercial Acquires 83,841 SF Plaza Del Mar Shopping Center in South Florida

by John Nelson

MANALAPAN, FLA. — Garden Commercial has acquired Plaza Del Mar, an 83,841-square-foot shopping center located at 250 S. Ocean Blvd. in Manalapan, a South Florida suburb in Palm Beach County. The tenant roster includes Publix, Art Basil Restaurant, John G’s, Thaikyo Asian Cuisine, The Ice Cream Club, Chico’s, Evelyn & Arthur, J.McLaughlin and several care and service retailers. Addicted Chic is set to open later this year. Located about 13 miles south of West Palm Beach, Plaza Del Mar sits between the Atlantic Ocean and the Intracostal Waterway and across from the upscale Eau Palm Beach Resort & Spa. Casey Rosen, Dennis Carson, Sriram Rajan and Michael Etemad of CBRE represented the seller, an affiliate of a joint venture between Evergreen Investment Advisors and Kitson & Partners, in the transaction. Scott Loventhal and Michael Gartenberg were the internal representatives for Garden Commercial. The sales price was not disclosed.

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AcquisitionsCaliforniaRetailWestern

Cohen & Steers, Sterling Acquire 231,700 SF Retail Center in San Mateo

by Amy Works

SAN MATEO, CALIF. — Cohen & Steers Income Opportunities REIT (CNSREIT) and Sterling Organization have acquired Bridgepointe Shopping Center, a 231,700-square-foot retail center in San Mateo. Tenants at the property, which was fully leased at the time of sale, include Total Wine & More, Nordstrom Rack, Ross Dress for Less and Marshalls. This marks the third joint-venture acquisition for CNSREIT and Sterling. 

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