CELINA, TEXAS — Lowe’s Home Improvement will open a 94,000-square-foot store in Celina, located at the convergence of Collin and Denton counties in North Texas. The North Carolina-based retailer will join the tenant roster at The Crossing at Moore Farm, a 100-acre mixed-use development located along Preston Road. The store will be situated on a 14-acre site, and Lowe’s expects to receive its certificate of occupancy by March 2027.
SNELLVILLE, GA. — JLL has arranged the sale of Presidential Commons, a 264,271-square-foot shopping center located in Snellville, a northeast suburb of Atlanta. Kroger anchors the property, which was 89 percent leased at the time of sale. Other tenants at the center include Petco, Ulta Beauty, Burlington, Five Below and Aaron’s. SITE Centers sold the property to Sterling Organization for an undisclosed price. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller in the transaction.
SUGAR HILL, GA. — Ackerman & Co. has formed a partnership with Novare Group to develop an unanchored retail center in Sugar Hill, a northeast suburb of Atlanta in Gwinnett County. The project will comprise two buildings spanning 6,035 square feet and 7,240 square feet adjacent to Novare’s 306-unit Conclave Sugar Hill multifamily community, which was delivered recently. Kelly Wilson of Ackerman Retail, a division of Ackerman & Co., will spearhead the leasing efforts for the project, which will be developed on a four-acre site on Hillcrest Drive. Ackerman Retail will target homegrown and regional restaurants, fast-casual eateries, boutiques and shops for the project, with flexible space options starting at 1,260 square feet.
CHICAGO — SVN Chicago Commercial has brokered the sale of a historic building totaling 16,400 square feet in the city’s Wicker Park neighborhood for an undisclosed price. The property, built in 1907, is located at 1934 W. North Ave. near The Robey Hotel. Tim Rasmussen, Adam Napp and Chad Schroedl of SVN represented the undisclosed seller. The buyer, Envoi Partners LLC, plans to renovate the building and add nine rental units on the second and third floors. The property served as the filming location for MTV’s “The Real World Chicago” in 2001, and was later home to Cheetah Gym and Verge Gym.
HOUSTON — Marquette Cos., an Illinois-based multifamily developer, has received approval from the Houston Planning Commission for a 20,000-square-foot commercial project that will be located along the 2600 block of Keene Street near White Oak Music Hall. The new building is slated for a 2025 delivery and will be marketed to bars, restaurants, coffee shops and other retail users. The single-story building will be located across the street from Tempo at White Oak, Marquette’s 304-unit multifamily project that is nearing completion.
ALISO VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a two-story retail and medical building at 26711 Aliso Creek Road in Aliso Viejo. A San Francisco-based private investor sold the asset to an Irvine, Calif.-based private investor for $9.4 million. Both parties requested anonymity. Buffalo Wild Wings Grill & Bar, Active Med Supply, Cold Stone Creamery, F45 Training, Kidcreate Studio and three dental offices are tenants at the 24,986-square-foot building, which was built on two acres in 2004. The building is situated within Aliso Viejo Town Center, a 380,000-square-foot development. Sean Cox and Kevin Fryman of Hanley Investment Group represented the seller, while Alton Burgess of Voit Real Estate Services represented the buyer in the deal.
CHICAGO — Greenstone Partners has brokered the sale of a retail property located at 4066-4080 N. Milwaukee Ave. in Chicago’s Portage Park neighborhood for $6.9 million. The two-building asset is home to medical-related tenants, including Athletico Physical Therapy, DentalWorks, America’s Best Contacts and Eyeglasses and Midwest Express Clinic. The center features 16,063 square feet of gross leasable area on 35,185 square feet of land and includes 41 off-street surface parking spaces. The property was fully leased at the time of sale. Danny Spitz and Brewster Hague of Greenstone represented the seller, a private investment fund, and procured the buyer, a private partnership based in Illinois.
Louisville’s economy remains resilient, and regional economic growth is creating a strong foundation for the retail market. Greater Louisville Inc. recently announced that 72 businesses are considering relocating or expanding to the region, with the potential of 8,200 new jobs and $3.8 billion in economic investment. Louisville is well-positioned for growth and the retail outlook remains strong with historically low vacancy rates. The market’s expanding consumer base and resilient economy have mostly overcome headwinds such as interest rate fluctuations, volatility in capital markets and signs of a slowing economy. This resilience has put Louisville in a strong position moving into the last quarter of 2024. At the end of the second quarter, Louisville’s vacancy rate stood at a strong 3.4 percent, outperforming the national benchmark of 4.1 percent, according to CoStar Group. The limited amount of new retail construction over the past 18 months has played a significant role in keeping the vacancy rate low. In fact, only roughly 322,000 square feet of retail space has been delivered over the past 12 months. Grocers are pushing leasing activity, making up 36 percent of the leasing volume that past 12 months. These retailers are executing most of the activity in spaces …
OAKLAND, CALIF. — SITE Centers Corp. has completed the sale of Whole Foods Market Bay Place, a retail asset in Oakland, to an undisclosed buyer for $44.4 million. Whole Foods Market occupies the Class A, 57,218-square-foot property, which was built in 2007, on a long-term basis. The freestanding building is situated on a 2.2-acre corner lot at 230 Bay Place. Eric Kathrein, Geoff Tranchina, Gleb Lvovich and Warren McClean of JLL Capital Markets Investment Sales and Advisory represented the seller and procured the buyer in the deal.
CATHEDRAL CITY, CALIF. — Calmwater Capital has provided Rhino Investment Group with $20.9 million in short-term, first-mortgage debt for its acquisition of Cathedral City Marketplace, a grocery-anchored retail center in Cathedral City. The 195,000-square-foot shopping center is located in Cathedral City, approximately seven miles southeast of Palm Springs. Situated on 21 acres at 34091-34351 Date Palm Drive, Cathedral City Marketplace offers parking for 1,093 automobiles. Current tenants include Kroger’s Food 4 Less, Planet Fitness, dd’s Discounts, DJ’s Sports Bar and Subway. Calmwater’s Larry Grantham, Zach Novatt and DaJuan Bennett originated the loan. The Los Angeles-based JLL Capital Markets team of Jeff Sause, Chad Morgan, Daniel Skerrett and Jalynn Borders arranged the financing.