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4343-SE-Hawthorne-Blvd-Portland-OR
AcquisitionsOregonRetailWestern

Norris & Stevens Brokers $1.4M Sale of Retail Building in Portland, Oregon

by Amy Works

PORTLAND, ORE. — Norris & Stevens has arranged the sale of a retail building located at 4343 S.E. Hawthorne Blvd. in Portland. DS TS Holdings LLC acquired the property from Gigantic Brewing Co. for $1.4 million. Constructed in 1997 and renovated in 2023, the 3,081-square-foot retail building was formerly home to Gigantic Brewing. The property will become a new tavern called Steely’s. Scheduled to open in spring 2026, Steely’s will feature smashburgers, wings and a curated list of beers on tap. Jake Holman with Portland-based Norris & Stevens represented the buyer, while John Lee with Jones Lang LaSalle Brokerage represented the seller in the deal.

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LoansMidwestMissouriRetail

Gantry Arranges $22M Refinancing for Chesterfield Commons Shopping Center in Missouri

by Kristin Harlow

CHESTERFIELD, MO. — Gantry has arranged a $22 million permanent loan to refinance maturing debt for Chesterfield Commons, a retail power center in Chesterfield, a western suburb of St. Louis. Anchor tenants at the 750,000-square-foot inline center include Walmart, Sam’s Club, Lowe’s, Best Buy and Ross. Additional tenants include a mix of 40 restaurant, fast food, beauty, fashion, professional service, sporting goods, banking, home goods and health and wellness. Joe Monteleone and Rulin Dai of Gantry represented the borrower, a private real estate investor. One of Gantry’s correspondent insurance company lenders provided the five-year, fixed-rate nonrecourse loan, which offers full-term interest-only payments. Gantry will service the loan for the lender.

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The-Shops-Park-Algodon-Phoenix-AZ
ArizonaDevelopmentIndustrialRestaurantRetailWestern

Creation Delivers $250M Park Algodon Industrial, Mixed-Use Development in Phoenix

by Amy Works

PHOENIX — Creation, a Phoenix-based developer, has completed construction for Park Algodon, an industrial and mixed-use development at the northwest corner of Loop 101 and Indian School Road in Phoenix. Spanning 86 acres, Park Algodon includes 1.3 million square feet of Class A industrial space and an adjacent 7-acre mixed-use destination with retail and restaurant space. The first phase of the industrial portion of Park Algodon was developed in partnership with Clarion Partners. The two-phase speculative industrial project includes four buildings, totaling 725,000 square feet, designed to accommodate tenants ranging from 30,000 square feet to 317,000 square feet. The industrial buildings offers 32-foot to 40-foot minimum clear heights, ample power and abundant employee parking. The second phase is permit-approved for a single 556,000-square-foot building. Separate from the joint venture, Creation developed The Shops at Park Algodon, a 14,000-square-foot restaurant and retail space. Buildings A and B will be delivered to tenants within the next 30 days. Confirmed tenants include Einstein Bros. Bagels, Chipotle, Luna Grill and Zara Nail Bar. LGE Design Build provided architectural and construction services for the project. Andy Markham and Phil Haenel of Cushman & Wakefield are handling leasing for the industrial component, while Matt Milinovich and James …

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AcquisitionsCaliforniaOfficeRestaurantRetailWestern

Bucksbaum Properties Buys One El Paseo Plaza Mixed-Use Complex in Palm Desert, California

by Amy Works

PALM DESERT, CALIF. — Bucksbaum Properties has acquired One El Paseo Plaza, a mixed-use office and restaurant property in Palm Desert. Terms of the transaction were not released. Situated on 5 acres at 74199 El Paseo Drive and 74225 and 74245 Highway 111, One El Paseo Plaza offers 86,835 rentable square feet. The complex features two two-story office buildings and an adjacent restaurant pavilion — originally Palm Desert’s first commercial building. The buildings feature granite lobbies, flexible floor plates and a parking ratio of 3.5 spaces per 1,000 square feet, including assigned and covered parking.

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Leasing ActivityMidwestOhioRetail

Dillard’s Opens 160,000 SF Store at The Mall at Fairfield Commons in Beavercreek, Ohio

by Kristin Harlow

BEAVERCREEK, OHIO — Dillard’s has opened at The Mall at Fairfield Commons in Beavercreek, marking the retailer’s first location in the Dayton area. The 160,000-square-foot department store occupies the former Macy’s location and introduces a new anchor tenant at the mall, which is owned by Spinoso Real Estate Group. Ownership says the Dillard’s opening reflects the continued evolution of The Mall at Fairfield Commons as it expands the mix of retail, dining and experiential offerings.

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AcquisitionsFloridaRetailSoutheast

Colliers Brokers $13.5M Sale of Central Florida Retail Center Near The Villages

by John Nelson

SUMMERFIELD, FLA. — Colliers has brokered the $13.5 million sale of Spruce Creek Shoppes, a 42,203-square-foot shopping center located at 17860 S.E. 109th Ave. in Summerfield. The retail center sits within the trade area of The Villages, a master-planned community in Central Florida often cited as the No. 1 retirement destination in America. Tommy Isola, Harry Blyden and Billy Weiser of Colliers represented the seller, an entity doing business as Spruce Creek Holdings, in the transaction. About 80 percent of Spruce Creek Shoppes’ tenancy are restaurant, medical and service-oriented retailers, according to Colliers.

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AcquisitionsRetailTexas

Bill Foose Co. Arranges Sale of 13,000 SF Retail Building in Duncanville, Texas

by Taylor Williams

DUNCANVILLE, TEXAS — Locally based brokerage firm Bill Foose Co. has arranged the sale of a 13,000-square-foot retail building in Duncanville, located south of Dallas, that was formerly occupied by CVS. According to LoopNet Inc., the building at 615 S. Cockrell Hill Road was originally constructed in 1997. Bill Foose Co. represented the seller, an entity doing business as Duncanville Associates, in the transaction. The undisclosed buyer plans to open an indoor amusement park within the building.

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AcquisitionsNew YorkNortheastRetail

Adirondack Capital Arranges $18.5M Sale of Manhattan Retail Building

by Taylor Williams

NEW YORK CITY — New York-based brokerage firm Adirondack Capital Partners has arranged the $18.5 million sale of a retail property in Manhattan’s NoHo neighborhood. Birkenstock occupies the entire 2,300 square feet of leasable space within the two-story building at 120 Spring St. The seller was an entity doing business as 120 Spring Realty Associates LLC. The buyer was a nigh-net-worth Japanese investor. Michael Hunter Coghill of Adirondack Capital brokered the all-cash deal.   

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FeaturesRetailWebinar

National Retail Federation Projects 2026 U.S. Retail Sales to Rise 4.4 Percent, Exceed $5.6T

by Abby Cox

WASHINGTON, D.C. — The National Retail Federation (NRF) has projected that 2026 U.S. retail sales will grow 4.4 percent over 2025 to $5.6 trillion, outpacing pre-pandemic averages and signaling continued momentum despite global volatility. This year’s projection was announced during the organization’s sixth annual “State of Retail and the Consumer” webinar held on March 18, which examined the health of American consumers and the overall retail industry. NRF’s calculation, created in partnership with Oxford Economics using a new economic model, excludes auto dealers, gas stations and restaurants. The new model integrates a wider range of real-time data to better capture consumer behavior compared to the previous forecasting methods that relied on broader indicators. Although the forecast is in nominal terms (unadjusted for inflation), this model anticipates that a higher proportion of projected sales growth will reflect real gains, rather than inflation-driven increases. The 2026 sales forecast compares with 3.6 percent average annual sales growth over the past 10 years, excluding the COVID period from 2020 to 2022 when growth was atypical. “While the geopolitical environment and ongoing trade policy challenges warrant close attention, we remain optimistic that the underlying fundamentals of the U.S. economy will support continued stability in the year ahead,” said …

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DevelopmentRetailTexas

Kroger to Open 99,000 SF Store at Custer Frontier Marketplace in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Kroger will open a 99,000-square-foot store at Custer Frontier Marketplace, a 170,000-square-foot retail development in McKinney, a northern suburb of Dallas. The Kroger store will include a fuel station, and Custer Frontier Marketplace will also have 54,000 square feet of small-shop and freestanding retail space, along with pad sites. Michelle Caplan and Maggie Hansen of Weitzman represented the landlord in the lease negotiations.

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