Retail

COLUMBUS, OHIO — The Cooper Commercial Investment Group has brokered the $3.2 million sale of a single-tenant restaurant property occupied by Buffalo Wild Wings within the Easton retail corridor in Columbus. Dan Cooper of Cooper Group represented the seller, a private investment group out of West Virginia. The buyer purchased the asset at a cap rate of 5.85 percent, 98 percent of the list price and $413 per square foot. The all-cash transaction closed in approximately 40 days. Buffalo Wild Wings has 10 years remaining on its lease with a rental increase in 2030. The property was renovated in 2020.

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By Ashish Vakhariya, Marcus & Millichap Detroit’s retail market continues to show pockets of strength amid broader economic and retail sector headwinds. More affluent northern suburbs and the revitalizing urban core have demonstrated greater resilience, while limited construction activity should support the backfilling of existing space. Detroit’s position among the highest-yielding metros in the country will likely remain a key draw for investors, with capital focusing on well-located, necessity-based and service-oriented retail assets. Big-box downsizing and rising cost pressures create a cautious leasing environment: Detroit’s retail landscape recorded more than 1 million square feet of negative net absorption over the nine months that ended in March, with preliminary second-quarter figures indicating continued space relinquishment. Strained consumer demand and structurally challenged retail formats have contributed to a wave of bankruptcies and consolidations among major tenants, including Party City, Big Lots, Macy’s and Walgreens.  Trade policy uncertainty has further heightened tenant caution, as elevated input costs are expected to weigh on leasing activity. A recent Michigan Retailers Association survey found that more than 60 percent of businesses statewide rely on imported goods.  With consumers more price-sensitive, many retailers may struggle to pass on higher costs; however, tenants reliant on locally sourced inventory …

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D’IBERVILLE, MISS. — CBL Properties, a publicly traded owner and manager of malls and shopping centers, has sold The Promenade, a 621,000-square-foot power shopping center located in D’Iberville, roughly four miles north of Biloxi, Miss. An undisclosed investor purchased the center for $83.1 million. Built in 2009 by CBL Properties, The Promenade is anchored by national retailers including Target, Kohl’s, Best Buy, Dick’s Sporting Goods, Ulta Beauty, PetSmart and Marshall’s. Restaurants at The Promenade include Chick-fil-A, Newk’s Express Café, Buffalo Wild Wings and Olive Garden. According to the Biloxi SunHerald, the Target at The Promenade was the first Target to open in southern Mississippi.

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BUFORD, GA. — Atlanta-based Invesco Real Estate has acquired Georgia Crossing, a 317,201-square-foot power shopping center located in Buford, roughly 38 miles northeast of Atlanta, for $82 million. Situated across from the 1.7 million-square-foot Mall of Georgia, Georgia Crossing was fully leased to a mix of tenants including T.J. Maxx/HomeGoods, Nordstrom Rack, Best Buy, Hobby Lobby, Staples, Cavender’s Boot City and Ulta Beauty at the time of sale. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL’s Investment Sales and Advisory team represented the seller, Columbus, Ohio-based Washington Prime Group, in the transaction.

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MIAMI BEACH, FLA. — The Lincoln Road Business Improvement District (BID) has announced a new wave of retailers and restaurants opening on Lincoln Road, the retail high street of Miami Beach. The new concepts include All’Antico Vinaio, an Italian sandwich concept that will occupy 1,793 square feet at 647 Lincoln Road; Che by Chelsey, an apparel concept that opened its 675-square-foot boutique at 830 Lincoln Road in May; and Davinci Gelato, which opened its 1,350-square-foot gelato shop at 645 Lincoln Road in May. Other newcomers will include Prince Street Pizza and Negroni Caffe & Sushi Bar, which will open before the end of the year, as well as Noble 33’s Mediterranean dining concept Meduza Mediterrania, which will open in 2026. Additionally, Victoria’s Secret and PINK have relocated to a newly built-out space spanning 7,500 square feet at 900-904 Lincoln Road, and Beverly Hills-based Alo Yoga will open a new flagship spanning 13,480 square feet at 100 Lincoln Road, a space that has been vacant for a few years.

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ROCKLIN, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $3.8 million sale of a two-tenant retail pad site in Rocklin, approximately 25 miles northeast of downtown Sacramento, for $3.8 million. Situated at 2303 Sunset Blvd., the 6,122-square-foot building is occupied by U.S. Bank and a drive-thru Animal Urgent Care, each on a triple-net-lease. Built in 2022, the property sits on roughly 1 acre. Nearby tenants include Taco Bell, Safeway, Costco, Target, The Home Depot, WinCo Foods and Chipotle Mexican Grill. Eric Wohl and CJ Kiehler of Hanley represented the seller, a locally based private developer, in the transaction. Avi Narang of BRC Advisors Real Estate Investment Services represented the buyer, a private investor.

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MARQUETTE, IOWA — Casino Queen Marquette will be renamed Bally’s Marquette as part of its move to a newly developed permanent landside facility, set to open in early 2026. The name change will coincide with a $21 million transformation project, which includes relocating the gaming floor ashore and introducing new dining, gaming and entertainment experiences. The rebrand follows Bally’s Corp.’s acquisition of The Queen Casino & Entertainment Inc., the regional gaming company that owns Casino Queen Marquette. The merger was completed in early 2025. The long-standing Mississippi River casino has operated aboard a riverboat for more than 30 years. The transformation into Bally’s Marquette will create nearly 80 new jobs.

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OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has sold a retail development site at Oak Park Mall in Overland Park to Hyper Energy Bar, an Iowa-based drive-thru chain. Hyper Energy Bar sells energy drinks with caffeine, caffeine-free and sugar-free options. The 1.2-acre pad site is adjacent to tenants IHOP, Paris Baguette and Bank of America. Hyper Energy Bar is slated to open in the first quarter of 2026. Daniel Brocato and David Block of Block & Co. represented the landlord, while Pat Coppinger of Colliers represented the tenant.

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GERMANTOWN, TENN. — Cushman & Wakefield Commercial Advisors has arranged the sale of Germantown Station, a 12,000-square-foot retail center located at 1217-1227 S. Germantown Road. Built in 2002, the property is situated on 1.3 acres and was fully leased to tenants including State Farm, Simmons Bank, Alliance Animal Health, Breakaway Running, A&A Nail Spa and Las Tortugas Deli Mexicana at the time of sale. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial represented the seller, an entity doing business as Germantown Station LLC, in the transaction. The buyer was Ranjit Komeravelli.

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HOUSTON — Locally based brokerage and investment firm NewQuest has arranged the sale of Ella Plaza, an 82,073-square-foot shopping center in North Houston. Anchored by Advance Auto Parts’ 15,371-square-foot space, the three-building center was constructed on 7.1 acres in 2003 and is also home to multiple government tenants. Dakota Workman of NewQuest represented the seller, an entity doing business as True Saga LLC, in the transaction. Northmarq represented the buyer, Sega Development LLC.

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