Retail

Boulder Group Arranges $3.3M Sale of Chick-fil-A Ground Lease in Chicago

by Kristin Harlow August 7, 2025

CHICAGO — The Boulder Group has arranged the $3.3 million sale of a single-tenant, net-leased Chick-fil-A property at 11301 S. Corliss Ave. in Chicago. The newly constructed building, which features a drive-thru, is operating under a 15-year ground lease with 10 percent rental escalations every five years and eight five-year renewal options. The property is positioned directly west of I-94 and at the southeast corner of the newly revitalized Pullman Park development. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a real estate developer in Chicago. The buyer was a local private investor. Today, there are nearly 3,000 Chick-fil-A locations across 48 states, Canada and Puerto Rico.

August 7, 2025

Acquisitions Florida Retail Southeast

CBRE Brokers $165M Sale of Winter Garden Village Shopping Center in Central Florida

by John Nelson August 7, 2025

WINTER GARDEN, FLA. — CBRE has brokered the sale of Winter Garden Village, a 629,326-square-foot shopping center located at 3251 Daniels Road in Winter Garden, a western suburb of Orlando. Dennis Carson, Casey Rosen, Michael Etemad and Sriram Rajan of CBRE represented the seller, Beachwood, Ohio-based SITE Centers Corp., in the transaction. The buyer and sales price were not disclosed, but Orlando Business Journal reports that an affiliate of New York City-based RREEF Property Trust purchased the center for $165 million. Curbline Properties Corp., an affiliate of SITE Centers, retained 130,563 square feet of single- and multi-tenant outparcels at Winter Garden Village. The power retail center was 89 percent leased at the time of sale to tenants including Bealls, Best Buy, Burlington, Marshalls/Homegoods, Ross Dress for Less and Ulta Beauty.

August 7, 2025

Acquisitions Florida Retail Southeast

Colliers Negotiates Sale of 103,830 SF Retail Center in Orlando

by John Nelson August 7, 2025

ORLANDO, FLA. — Colliers has negotiated the sale of the Shoppes at South Semoran, a 103,830-square-foot retail center located in Orlando, six miles directly north of Orlando International Airport. Originally built in 1986, the property was renovated in 2013 with façade enhancements, as well as signage and parking lot improvements. Walmart Neighborhood Market anchors the property, which was 99 percent leased at the time of sale. Additional tenants include Dollar Tree, Wendy’s and Suncoast Credit Union. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, an affiliate of Core Investment Properties Fund, in the transaction. The buyer was an affiliate of Newport Capital Partners. Ben Greazel, also with Colliers, arranged acquisition financing through Ameris Bank. The sales price and loan amount were not disclosed.

August 7, 2025

Acquisitions California Retail Western

Mershops Acquires Weberstown Mall in Stockton, California for $50.8M

by Amy Works August 6, 2025

STOCKTON, CALIF. — Family-owned real estate platform Mershops has acquired Weberstown Mall, an 800,000-square-foot regional shopping center located in Stockton, for $50.8 million. Originally opened in 1966, the center is anchored by JCPenney, Dillard’s and Barnes & Noble. Other tenants include Old Navy, Five Below, BoxLunch, Foot Locker, Lids, Victoria’s Secret and Journeys. Steerpoint Capital brokered the sale on behalf of Mershops. The seller was Washington Prime Group. This transaction marks Mershops’ sixth enclosed shopping center acquisition across California and Nevada. Mershops’ current portfolio includes North County Mall in Escondido, Calif.; Galleria at Sunset in Henderson, Nev.; Antelope Valley Mall in Palmdale, Calif.; The Shops at Montebello in Montebello, Calif.; Northridge Mall in Salinas, Calif.; and two office campuses in Silicon Valley. The company plans to make reinvestments for each property, blending retail, hospitality and community elements.

August 6, 2025

Leasing Activity Massachusetts Northeast Restaurant Retail

PREIT Welcomes Five Tenants to Dartmouth Mall in Massachusetts

by Taylor Williams August 6, 2025

DARTMOUTH, MASS. — Pennsylvania Real Estate Investment Trust (PREIT) has welcomed five new tenants to Dartmouth Mall, a 671,000-square-foot regional shopping and dining destination in southeast Massachusetts. Boot Barn will open a 15,000-square-foot store this fall for its first location in the area. Locker Room by Lids expects to open at the end of the month, while Chick-fil-A is planning an outparcel restaurant at the property. Cinnabon and Carvel have already opened. These additions follow the redevelopment of the former Sears space, which is now occupied by Ulta Beauty, Burlington and Aldi.

August 6, 2025

Acquisitions Illinois Midwest Retail

Nicholas Family Acquires 63,000 SF Glacier Ice Arena in Vernon Hills, Illinois

by Kristin Harlow August 6, 2025

VERNON HILLS, ILL. — The Nicholas Family of Cos. has acquired Glacier Ice Arena, a 63,000-square-foot indoor ice arena with two NHL-regulation rinks in the Chicago suburb of Vernon Hills. Nicholas will own and manage the hockey and ice skating rink and will commence large-scale renovations later this year. Nicholas Family’s portfolio of ice rink facilities includes Mount Prospect Ice Arena at Nicholas Sportsplex in Mount Prospect; Rosemont Ice Arena, which is set to open this month in Rosemont; and Elk Grove Ice Arena, which is scheduled to begin construction this month. All will be operated by the company’s internal sports and recreation firm Spectate Group. Glacier Ice Arena is affiliated with Ice Dogs Hockey Club and serves as the primary venue for the Ice Dogs Hockey Association, which is home to roughly 15 teams. There is potential for Nicholas Family’s integrated hospitality company, Big Fish Hospitality Group, to be incorporated into future phases of planning following the acquisition. Glacier currently has 10 locker rooms, study rooms, party and meeting rooms, a snack bar and video game room.

August 6, 2025

Illinois Midwest Retail Top Stories

Claire’s Files for Chapter 11 Bankruptcy Again for U.S. Operations, Aims to Close Underperforming Stores

by Kristin Harlow August 6, 2025

HOFFMAN ESTATES, ILL. — Claire’s U.S., the operator of Claire’s and Icing stores across the United States, has filed for Chapter 11 bankruptcy protection in Delaware. The jewelry retailer listed both its liabilities and assets between $1 billion to $10 billion. Hoffman Estates-based Claire’s previously filed for Chapter 11 bankruptcy in 2018. Claire’s says that the proceedings will enable the company to immediately commence the monetization process for its assets to maximize value for the business. The retailer is continuing a comprehensive review of strategic alternatives, including discussions with potential partners that began prior to the filings. “This decision is difficult, but a necessary one. Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders,” says Chris Cramer, CEO of Claire’s. Claire’s retail stores in North America will remain open and continue to serve customers. However, in its bankruptcy filings the retailer noted 18 Claire’s and Icing stores that “should be exited” and is requesting the approval of store closing sales. These include: Claire’s U.S. intends to seek approval for a consensual use of cash collateral to …

August 6, 2025

Acquisitions Northeast Pennsylvania Retail

Marcus & Millichap Brokers $10.6M Sale of Metro Pittsburgh Shopping Center

by Taylor Williams August 5, 2025

BRIDGEVILLE, PA. — Marcus & Millichap has brokered the $10.6 million sale of The Crossings at South Fayette, a 38,203-square-foot shopping center in Bridgeville, a southwestern suburb of Pittsburgh. The center comprises a freestanding grocery store of anchor tenant ALDI, a drive-thru strip occupied by Starbucks and Chipotle Mexican Grill and a multi-tenant strip that is home to Sola Salon Studios, Jimmy John’s, Elevation Medical Weight Loss, Brentwood Bank and Radiance at Fluhme. Dean Zang and David Crotts of Marcus & Millichap represented the seller, a local family, in the transaction. Zang and Crotts also procured the buyer, San Diego-based investment firm The Niki Group.

August 5, 2025

Acquisitions Florida Retail South Carolina Southeast

Bain Capital, 11North Partners Acquire Southeast Shopping Center Portfolio for $395M

by John Nelson August 5, 2025

BOSTON AND NEW YORK CITY — A joint venture between Bain Capital and 11North Partners has acquired a portfolio of 10 open-air retail centers in Florida and South Carolina for $395 million. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, PGIM Real Estate. The properties — which are located across the submarkets of Fort Lauderdale, Orlando, Tampa, Palm Beach and Charleston — include Sawgrass Square, Plantation Promenade, Miramar Commons, Rolling Oaks, Promenade at Poinciana, Solivita Marketplace, New Tampa Center, Lake Worth Plaza, Garden Shops at Boca and Point Hope Commons. The acquisition spans more than 1 million square feet and follows the joint venture’s recent purchase of three open-air lifestyle retail centers in Oklahoma City for $212 million. Publix anchors seven of the retail centers. The portfolio was more than 93 percent leased at the time of sale to tenants including Bank of America, Chipotle, Starbucks Coffee, Chick-fil-A, Jersey Mike’s and McDonald’s.

August 5, 2025

Acquisitions California Retail Western

Hanley Investment Group Arranges $4.6M Sale of Multi-Tenant Retail Pad Site in Fresno, California

by Amy Works August 5, 2025

FRESNO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a 7,052-square-foot multi-tenant retail pad site located at 6770 North Brawley Ave. in Fresno. A Dutch Bros Coffee drive-thru anchors the property, which is situated within the River Oak Plaza shopping center. Built in 2019 on 1.3 acres, the building is fully leased to four additional tenants including West Coast Sourdough, WaBa Grill, Sport Clips and Organic Nails & Spa. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, California Gold Development Corp., in the transaction. Vicky Casey of Casey & Associates represented the buyer, a Visalia, Calif.-based private investor. Hanley Investment Group has sold 96 coffee-related retail properties totaling $357 million across the U.S. in the past two years, including 11 Dutch Bros Coffee shops in the past 12 months.

August 5, 2025

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