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AcquisitionsNorth CarolinaRetailSoutheast

Marcus & Millichap Brokers $5.1M Sale of Retail Property in Kernersville, North Carolina Leased to Firestone

by John Nelson

built retail property located at 1186 S. Main St. in Kernersville, about 20 miles west of Greensboro, N.C. Automotive services firm Firestone, a subsidiary of Bridgestone Retail Operations LLC, fully occupies the 5,798-square-foot property on a 15-year absolute triple-net lease. Don McMinn of Marcus & Millichap’s Atlanta office represented the seller, a North Carolina-based developer, in the transaction. The buyer was also not disclosed. Donald Gilchrist served as Marcus & Millichap’s broker of record in North Carolina for the deal. “The Firestone closing demonstrates the growing wave of private capital flowing into the net-lease market, fueled by the passage of the ‘Big Beautiful Bill,’ improving confidence and the prospect of interest rate cuts,” says McMinn. “We expect this momentum to carry into the second half of 2025, driven by lower interest rates, increased 1031 exchange activity and stronger deal flow.”

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AcquisitionsRetailTexas

JLL Brokers Sale of 85,129 SF Shopping Center in North San Antonio

by Taylor Williams

SAN ANTONIO — JLL has brokered the sale of Marketplace at Encino Park, an 85,129-square-foot shopping center located at 22135 Bulverde Road in the Far North submarket of San Antonio. Sprouts Farmers Market anchors the center, which was fully leased at the time of sale. Other tenants include Pet Supplies Plus, Burger King and F45. Barry Brown, Erin Lazarus, Shea Petrick and Whitney Snell of JLL represented the seller, Birnbaum Property Co., in the transaction. The buyer was Illinois-based InvenTrust Properties Corp.

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LoansMassachusettsNortheastRetail

JLL Arranges $123.6M in Financing for Retail Power Center in Framingham, Massachusetts

by Taylor Williams

FRAMINGHAM, MASS. — JLL has arranged $123.6 million in financing for a portion of Shoppers World, a 752,000-square-foot retail power center located in the western Boston suburb of Framingham. Details on the nature of the financing and the portion of the center covered by it were not disclosed. Shoppers World was 99 percent leased at the time of the loan closing to tenants such as T.J. Maxx, Marshalls, HomeSense, Sierra Trading Post, Best Buy and Dick’s Sporting Goods. Scott Aiese, Alex Staikos, Amy Lousararian and Parker Morrison of JLL arranged the four-year, fixed-rate loan on behalf of the borrower, Urban Edge Properties. The direct lender was not disclosed.

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AcquisitionsNortheastPennsylvaniaRetail

CBRE Negotiates Sale of 102,071 SF Shopping Center in Glenolden, Pennsylvania

by Taylor Williams

GLENOLDEN, PA. — CBRE has negotiated the sale of MacDade Commons, a 102,071-square-foot shopping center in Glenolden, a southwestern suburb of Philadelphia. Walmart anchors the center, which is also home to tenants such as Quest Diagnostics, Verizon Wireless and Work ‘N Gear. Christopher Munley, Colin Behr, Casey Smith and Ryan Sciullo of CBRE represented the undisclosed seller in the transaction. The team also procured the buyer, Agree Realty Corp.

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AcquisitionsNew JerseyNortheastRetail

SRS Brokers $7.5M Ground-Lease Sale of Wawa Convenience Store in Jackson Township, New Jersey

by Taylor Williams

JACKSON TOWNSHIP, N.J. — SRS Real Estate Partners has brokered the $7.5 million ground-lease sale of a newly constructed Wawa convenience store in Jackson Township, located near the Jersey Shore. The site spans 1.9 acres, and the building totals 4,736 square feet. Patrick Nutt and William Wamble of SRS represented the seller, an East Coast-based developer, in the transaction. The buyer was a New Jersey-based private investor. Both parties requested anonymity.

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AcquisitionsRetailTexas

CBRE Negotiates Sale of 178,594 SF Shopping Center in Weslaco, Texas

by Taylor Williams

WESLACO, TEXAS — CBRE has negotiated the sale of Valley Crossing, a 178,594-square-foot shopping center located in the Rio Grande Valley city of Weslaco. The center was 97 percent leased at the time of sale to tenants such as J.C. Penney, T.J. Maxx and Petco. Mark Witcher, Harrison Tye and Jolie Duhon of CBRE represented the seller, an entity doing business as Capcor Weslaco Ltd., in the transaction. The buyer was Otima Investments.

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AcquisitionsAlabamaRetailSoutheast

Marcus & Millichap Brokers $2.4M Sale of Shopping Center in Talladega, Alabama

by John Nelson

TALLADEGA, ALA. — Marcus & Millichap has brokered the $2.4 million sale of Talladega Shopping Center, a 47,437-square-foot shopping center located at 803 Battle St. E in Talladega, an eastern suburb of Birmingham. Citi Trends and Standard Furniture, both of which have occupied the site for more than a decade, are the property’s anchor tenants. Additional tenants include Regional Finance and AT&T, which occupies a newly developed outparcel. The center was originally built in 1981 on 3.6 acres and was 88 percent leased at the time of sale. Eric Abbott and Zachary Taylor of Marcus & Millichap represented the seller in the transaction. Eddie Greenhalgh serves as Marcus & Millichap’s broker of record in Alabama.

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85-Jay-St.-Brooklyn
AcquisitionsNew YorkNortheastRetail

Namdar, Klosed Acquire Brooklyn Retail, Parking Condo for $54M

by Taylor Williams

NEW YORK CITY — A joint venture between Namdar Realty and Klosed Properties has acquired a retail and parking condo located at 85 Jay St. in the Dumbo area of Brooklyn for $54 million. The retail component totals 128,410 square feet, and the space is located beneath Front & York, a 21-story, 727-unit residential building. The retail space was 84 percent leased at the time of sale to tenants such as CVS, Devoción, Petit Poussins and Lazy Sundaes. Daniel O’Brien of Newmark brokered the deal. The seller was CIM Group. Max Ralby and Jordan Roeschlaub, also with Newmark, arranged $41.3 million in acquisition financing for the deal through Blue Owl Capital.

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AcquisitionsKansasMidwestRetail

Marcus & Millichap Brokers $3.4M Sale of Retail Strip Center in Hutchinson, Kansas

by Kristin Harlow

HUTCHINSON, KAN. — Marcus & Millichap has brokered the $3.4 million sale of a four-suite retail strip center in Hutchinson within central Kansas. The sale of the property at 401 E. 4th Ave. also included a Dillon’s Fuel Station ground lease. Built in 1968, the 50,420-square-foot asset is leased to Planet Fitness, Dollar Tree and Dillon’s. Mark Ruble, Chris Lind, Zack House and Colby Haugness of Marcus & Millichap represented the seller, a Kansas-based limited liability company.  

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AcquisitionsRetailTexas

JLL Negotiates Sale of 110,000 SF Shopping Center in Lufkin, Texas

by Taylor Williams

LUFKIN, TEXAS — JLL has negotiated the sale of Southloop Crossing, a shopping center in Lufkin, about 120 miles north of Houston. According to a property flyer from the seller, Ball Ventures, and Bridgepoint Real Estate, Southloop Crossing totals roughly 110,000 square feet. The property traded as part of a portfolio deal that included a retail center in Killeen, as well as two other shopping centers in Arkansas. The buyer was Chase Properties. Adam Howells, Barry Brown Erin Lazarus of JLL represented Ball Ventures, in the transaction. Deborah Johnson of JLL assisted in closing the deal as the broker of record.

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