Wednesday, May 14, 2025
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AcquisitionsRetailSoutheastTennessee

TSCG Negotiates Sale of 65,900 SF Shopping Center Near Memphis

by John Nelson

COLLIERVILLE, TENN. — The Shopping Center Group (TSCG) has negotiated the sale of Houston Levee Galleria, a 65,900-square-foot retail center in Collierville, an eastern suburb of Memphis. Built in 2006, the property was 94 percent leased at the time of sale to tenants including Jim’s Place, Gould’s Day Spa and Salon, Smoothie King, The Transformation Doctor, Newk’s Express Café, Club Pilates, Moe’s Southwestern Grill, Loni’s Fashions and The Sewing House. Anthony Blanco and Lynn De Marco of TSCG represented the seller, a limited liability company, in the transaction. The buyer and sales price were also not disclosed.

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AcquisitionsMichiganMidwestRetail

Marcus & Millichap Arranges $2M Sale of Two-Tenant Retail Property in Stevensville, Michigan

by Kristin Harlow

STEVENSVILLE, MICH. — Marcus & Millichap has arranged the $2 million sale of a 4,556-square-foot retail property occupied by Starbucks and T-Mobile in Stevensville, a city in southwest Michigan. Constructed in 2021, the building is located at 4678 Red Arrow Highway. John Nuzman of Marcus & Millichap represented the seller, TDM Partners LLC. Chris Prins of DAR Commercial Real Estate represented the local buyer. The asset sold at 97 percent of the list price.

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3367-3385-W-Shaw-Ave-Fresno-CA
AcquisitionsCaliforniaProperty TypeRestaurantRetailWestern

Hanley Investment Group Arranges Sale of Multi-Tenant Retail Pad in Fresno, California

by Amy Works

FRESNO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Shops at Broadway Faire, a multi-tenant, net-leased retail pad property in Fresno. Built in 1995 on 1.4 acres, the 15,000-square-foot retail pad is located at 3367-3385 W. Shaw Ave. At the time of sale, the property was fully leased by five tenants: Red Robin, which occupies 47 percent of the property; FedEx Office, which recently signed a new 10-year lease; Conroy’s Flowers, which recently executed a new 10-year renewal; Liquor 4U, which extended an additional five years with a rental increase; and OneMain Financial, which exercised its five-year extension option. Eric Wohl and C.J. Kiehler of Hanley Investment Group Estate Advisors represented the seller, a New York-based real estate investment trust, while the buyer, a local private investor, was self-represented in the transaction. The sales price was not disclosed.

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Leasing ActivityMichiganMidwestRetail

Mathnasium Signs 1,500 SF Retail Lease at Brookdale Square in South Lyon, Michigan

by Kristin Harlow

SOUTH LYON, MICH. — Mathnasium has signed a 1,500-square-foot retail lease at Brookdale Square in South Lyon, about 40 miles west of Detroit. The shopping center, located at the intersection of 9 Mile Road and Pontiac Trail, is now fully leased. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Beztak Properties.

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AcquisitionsColoradoRestaurantRetailWestern

Quantum Directs $1.8M Sale of Starbucks-Occupied Retail Property in Lakewood, Colorado

by Amy Works

LAKEWOOD, COLO. — Quantum Real Estate Advisors has arranged the sale of a freestanding retail building in Lakewood. A West Coast-based private trust sold the asset to a West Coast-based family for $1.8 million. Starbucks Coffee occupies the property, which was sold for 100 percent of list price. Nick Hilgendorf and Zack Hilgendorf of Quantum Real Estate Advisors represented the seller, while Matt Lipson of Northmarq represented the buyer in the transaction.

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500-600-W-Huntington-Dr-Monrovia-CA
CaliforniaLoansRetailWestern

Gantry Secures $55.9M Acquisition Loan for Grocery-Anchored Retail Center in Monrovia, California

by Amy Works

MONROVIA, CALIF. — Gantry has secured a $55.9 million acquisition loan for Huntington Oaks, a retail center located at 500-600 W. Huntington Drive in Monrovia. The acquisition encompasses 251,000 square feet of leasable space, with major tenants including a mix of national retailers, restaurants and service retailers. According to the property website, the shopping center’s tenant roster includes Trader Joe’s, Marshalls, Chili’s, Petco and Panera Bread, among others. George Mitsanas, Braden Turnbull and Austin Ridge of Gantry’s Los Angeles (El Segundo) production office arranged the loan on behalf of the borrower, a private real estate investor. The five-year, fixed-rate loan was secured through one of Gantry’s correspondent insurance lenders, underwritten to a full-term interest only.

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AcquisitionsGeorgiaRetailSoutheast

Greenberg Gibbons Purchases Shopping Center in Tucker, Georgia for $17.3M

by John Nelson

TUCKER, GA. — Baltimore-based Greenberg Gibbons has entered the Georgia market with its $17.3 million purchase of Northlake Square, an 82,578-square-foot shopping center in Tucker. Built in 1988 at the intersection of Lavista Road and I-285 in metro Atlanta, the shopping center was 98 percent leased at the time of sale to tenants including longtime anchors Aldi and Best Buy. Greenberg Gibbons purchased Northlake Square via Greenberg Gibbons Real Estate Income Fund I, an investment vehicle whose other acquisitions include shopping centers in Tennessee, Florida, the Carolinas and Maryland.

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District of ColumbiaHealthcareHospitalityIndustrialLoansMultifamilyOfficeRetailSoutheast

MBA: Third-Quarter Commercial, Multifamily Borrowing Increased 59 Percent Year-Over-Year

by John Nelson

WASHINGTON, D.C. — Commercial and multifamily mortgage loan originations increased 59 percent in the third quarter of 2024 compared to a year ago, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. The third-quarter volume also represents a 44 percent increase from the second quarter. There was a 510 percent year-over-year increase in the dollar volume of loans for healthcare properties, a 99 percent increase for hotel properties, 82 percent increase for retail properties, 57 percent increase for industrial properties and a 56 percent increase for multifamily properties. Office real estate originations decreased 3 percent from a year ago. Among investor types, the dollar volume of loans originated for commercial mortgage-backed securities (CMBS) increased by 260 percent year-over-year. There was a 69 percent increase for depository (i.e. bank) loans, a 62 percent increase for investor-driven lender loans, 31 percent increase in loans for life insurance companies and a 28 percent increase in loans from government-sponsored enterprises (GSEs, namely Fannie Mae and Freddie Mac). Jamie Woodwell, MBA’s head of commercial real estate research, says that lower interest rates due in part to the Federal Reserve’s 50-basis-point decrease in September were “a key driver” for the uptick …

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AcquisitionsRetailTexas

Woodmont Co. Negotiates Sale of 44,827 SF Shopping Center in Weatherford, Texas

by Taylor Williams

WEATHERFORD, TEXAS — Locally based brokerage firm The Woodmont Co. has negotiated the sale of The Village at Weatherford, a 44,827-square-foot shopping center located roughly 30 miles west of Fort Worth. Tenants include Dollar General and Rent-A-Center. Russel Wehsener of The Woodmont Co. represented the seller, Sinclair Investments, in the deal. Gibson Duwe and Kyle Poulson of Transwestern represented the undisclosed buyer.

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AcquisitionsIllinoisLee & AssociatesMidwestRetail

Lee & Associates Negotiates $1.5M Sale of Former Bank Property in Carol Stream, Illinois

by Kristin Harlow

CAROL STREAM, ILL. — Lee & Associates has negotiated the $1.5 million sale of a 4,500-square-foot, former bank property in the Chicago suburb of Carol Stream. The freestanding building at 1275 N. County Farm Road features six drive-thru lanes. Rick Scardino of Lee & Associates represented the buyer, Universal Metro Asian Services, which plans to relocate to the facility and utilize it for adult daycare services. Brendan Reedy and Jimmy Danaher of Mid-America Real Estate represented the seller, GW Carol Stream LLC.

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