Saturday, April 19, 2025
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AcquisitionsNorth CarolinaRestaurantRetailSoutheast

Marcus & Millichap Brokers Sale of New Restaurant in Franklin, North Carolina Leased to Starbucks

by John Nelson

FRANKLIN, N.C. — Taylor McMinn Retail Group, an Atlanta-based retail investment sales team within Marcus & Millichap, has brokered the sale of a newly constructed, single-tenant retail property located at 1352 Siler Road in Franklin. Starbucks Coffee occupies the building — which totals 2,500 square feet — on a 10-year corporate lease with rent increases. The Starbucks is shadow-anchored by the closest Walmart store to Highlands, a popular vacation destination in western North Carolina. Don McMinn of Taylor McMinn Retail represented the seller, a Georgia-based developer, in the all-cash, 1031 exchange. The out-of-state buyer and the sales price were not disclosed. “You can’t overemphasize the impact that price point has on pricing in today’s market,” says McMinn. “In some cases, price point is more critical than credit compared to where deals are trading and when.”

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $5.7M Sale of Retail Property in Miami

by John Nelson

MIAMI — Marcus & Millichap has brokered the $5.7 million sale of Plaza 77 Shops, a 9,590-square foot retail strip center in Miami’s Dadeland neighborhood. Situated less than one mile from Dadeland Mall, the property is anchored by Trulieve and Domino’s Pizza, which both operate on corporate-guaranteed leases. Additional tenants at the center include Chase Bank, Outback Steakhouse, Anthony’s Coal Fired Pizza, Cancun Grill and Massage Envy, according to LoopNet. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, an entity doing business as Plaza 77 Shops LLC, and procured the buyer, a local private investor, in the transaction.

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18632-Pony-Express-Dr-Parker-CO
AcquisitionsColoradoRetailWestern

Trevey Commercial Negotiates Sale of 26,000 SF Retail Building in Parker, Colorado

by Amy Works

PARKER, COLO. — Trevey Commercial Real Estate has directed the sale of Stagecoach Building, a retail property on 1.7 acres in Parker. Pony Express LLC sold the asset to 18632 Pony LLC for $2.7 million. Located at 18632 Pony Express Drive, Stagecoach Building features 26,000 square feet of retail space. David Marulli of Trevey Commercial Real Estate represented the seller, while James West of Black Diamond Commercial Real Estate represented the buyer in transaction.

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16345-Foothill-Blvd-Fontana-CA
AcquisitionsCaliforniaRetailWestern

Raceway Express Car Wash Buys 3,693 SF Foothill Express Car Wash in Fontana, California

by Amy Works

FONTANA, CALIF. — Raceway Express Car Wash has acquired Foothill Express Car Wash, located at 16345 Foothill Blvd. in Fontana, for an undisclosed price. Originally built in 2018 by the seller, the property features a 3,693-square-foot building with a 120-foot tunnel and 25 vacuum stations. Alex Kogan of Beta Agency represented the seller, while Adam Indihar of Pacific Investments represented the buyer in the deal.

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ArkansasDevelopmentRetailSoutheast

Sam’s Club to Remodel All 600 Stores

by John Nelson

BENTONVILLE, ARK. — Sam’s Club, a division of Bentonville-based Walmart, has announced plans to remodel all 600 of its existing membership-based stores (called “clubs”) nationwide. The stores will be modeled after the Grapevine, Texas, location, which opened in December 2024. The new locations will span 160,000 square feet and include a seafood/sushi island, full-service floral station, walk-in dairy and fresh coolers and a larger healthcare space featuring a patient waiting area, health services suites, private consultation rooms and dedicated hearing and optical centers. As part of its previously announced long-term strategy, Sam’s Club will also open 30 new locations over the next several years while building a pipeline to begin opening 15 new clubs annually. This marks the first expansion since 2017 after Sam’s Club closed 62 locations in 2018. By the end of fiscal 2025, Sam’s Club plans to open two more new locations in Tempe, Ariz., and Lebanon, Tenn., with further plans to begin construction on seven additional locations, according to CNBC.

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DevelopmentLeasing ActivityMixed-UseRestaurantRetailSoutheastVirginia

Hoffman & Associates Signs Four New Restaurants to Join West Falls Mixed-Use Project in Metro D.C.

by John Nelson

FALLS CHURCH, VA. — Hoffman & Associates has signed four new restaurant concepts to join the tenant roster at West Falls, a 10-acre mixed-use development in Falls Church, roughly 10 miles west of Washington, D.C. The new eateries include Ice Cream Jubilee, BurgerFi, Honoo Ramen Bar and Dok Khao. These restaurants will join other West Falls tenants that are now open, including Mason’s Famous Lobster Rolls, Chase Bank, Tierra Encantada, Perspire Sauna Studios, CityDance Studios and Levine Music. In addition to shops and restaurants, West Falls will include The Oaks (condominiums), The Reserve at Falls Church (seniors housing) and The Alder (market-rate apartments), as well as a central greenspace called The Commons.

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Pavilions-at-The-Central-Dallas
DevelopmentRetailTexas

De La Vega Development Nears Completion of Phase I of Dallas Mixed-Use Project

by Taylor Williams

DALLAS — De La Vega Development is nearing completion of Phase I of The Central, a 27-acre mixed-use project located at the corner of North Haskell Avenue and the North Central Expressway in Dallas. Phase I of the project features a central communal park known as The Pavilions at The Central that can also support retail and restaurant uses. Designed in collaboration with local architecture firms GFF and Bud Creative, The Pavilions features four interconnected structures with outdoor seating that are surrounded by various biophilic elements and spaces that promote communal gathering. In addition, the space is located across from The Oliver, a 19-story apartment building that developer StreetLights Residential recently began leasing. Full completion of the park and pavilions is slated for the summer.

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2829-2843-Hyperion-Ave-Los-Angeles-CA
AcquisitionsCaliforniaRetailWestern

Bolour Associates Acquires Retail Center in Los Angeles’ Silver Lake District for $6.5M

by Amy Works

LOS ANGELES — Bolour Associates has purchased a neighborhood retail center in the Silver Lake district of Los Angeles from an undisclosed seller for $6.5 million. Located at 2829-2843 Hyperion Ave., the value-add property offers 9,884 square feet of retail space. At the time of sale, the property was 50 percent leased to a mix of tenants, including Pinkberry, Standing Egg Coffee, Cats and Dogs and The Village Vet. Bolour plans to complete both exterior capital improvements and interior tenant improvements at the center. Oron Maher of Maher Commercial Realty represented the seller in the transaction.

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DevelopmentHospitalityMichiganMidwestRetail

Michigan State Approves Construction of $150M Spartan Gateway District Project, Selects Developer

by Kristin Harlow

EAST LANSING, MICH. — The Michigan State University Board of Trustees has authorized the university to move forward with the construction of the Spartan Gateway District, a public-private campus community development project on the west side of campus along Harrison Road in East Lansing. The university has selected G&G Project Sparta LLC, a joint venture between Lansing, Mich.-based Gillespie Group and Omaha, Neb.-based Goldenrod Cos., as the developer. The project’s price tag is $150 million, according to Crain’s Detroit Business. The Spartan Gateway District encompasses a new hotel and retail space as well as an athletics arena. The Olympics Sports Arena will support volleyball, wrestling, gymnastics, locker rooms and coaching office space in addition to a number of university classrooms. The hotel and retail space would be part of the public-private partnership between the university and the developer. The Spartan Gateway District will be developed in multiple phases. The first phase will include the arena, which is slated to be operational by late 2027. Additional phases featuring a variety of commercial uses including a hotel, housing, office and retail spaces will follow. The timeline for the final phase, which will expand the university’s use of the facilities, is yet to …

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AcquisitionsMichiganMidwestRetail

CrownPoint Partners Brokers Sale of 14,933 SF Retail Property in Southgate, Michigan

by Kristin Harlow

SOUTHGATE, MICH. — CrownPoint Partners has brokered the sale of a newly constructed retail property occupied by Range USA in Southgate for an undisclosed price. The single-tenant, net-leased asset totals 14,933 square feet and is situated on 2.2 acres at 12780 Reeck Road just off I-75. Julius Swolsky and Shannon Bona of CrownPoint represented the seller, CA Commercial Development, and the buyer, FrontView REIT. Founded in 2012, Range USA operates indoor shooting ranges. The Southgate location, which opened in January 2023, features 20 shooting lanes.

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