NEW SMYRNA BEACH, FLA. — GBT Realty Corp. has unveiled plans to develop Shops at New Smyrna, a 55,273-square-foot, grocery-anchored neighborhood shopping center located in New Smyrna Beach. Construction of the project is scheduled to begin in summer 2026, with completion set for summer 2027. A 23,273-square-foot Sprouts Farmers Market will anchor the development, which will also feature an additional 35,000 square feet of junior anchor and inline retail space across two buildings, as well as two one-acre outparcels. The tenant roster is expected to include fitness and restaurant users and soft goods services, among others.
DAVENPORT, FLA. — SRS Real Estate Partners has brokered the $5.4 million sale of a single-tenant retail property located in Davenport, roughly 25 miles southwest of Orlando. The Learning Experience, an early childhood education and childcare center, occupies the 10,000-square-foot building on a 20-year lease with 19 years remaining. The building also features a 5,000-square-foot outdoor play area. Built in 2024, the single-tenant property is situated within a larger retail development along U.S. Highway 27. William Wamble and Patrick Nutt of SRS Capital Markets represented the seller, a national commercial real estate investment and development company, in the transaction. The buyer was a Central Florida-based private investor. Both parties requested anonymity.
RIVERSIDE, CALIF. — Longpoint has acquired Five Points Plaza, a retail center located at 4652-4822 La Sierra Ave. in Riverside, from a private family that originally developed the center. Stater Bros, Del Taco, Jack in the Box and Dollar Tree are tenants at the 129,699-square-foot property. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets Investment Sales and Advisory represented the buyer in the transaction.
PARKER, COLO. — Trevey Commercial Real Estate has arranged the sale of Greg’s Auto Repair Building, a 9,104-square-foot freestanding commercial property situated on 0.77 acres at 10310 S. Dransfeldt Road in Parker. Bellagnu Land Holdings LLC (formerly Greg’s Auto Repair) sold the the property to 10310 Dransfeldt LLC for $3.3 million. The new owner plans to lease the building to Crash Champions, which is currently operating a facility in the adjacent building. Mitch Trevey and Nick Beach of Trevey Commercial Real Estate represented the seller, while Scott Churchley of Cresa represented the buyer in the transaction.
DEERFIELD, ILL. — Mid-America Real Estate Corp. has brokered the sale of Deerbrook Shopping Center, a Jewel-Osco-anchored shopping center in the Chicago suburb of Deerfield. The 428,612-square-foot property is home to tenants such as Marshalls, Floor & Décor, Sky Zone, Office Depot, Starbucks, Panera, Noodles & Co., Sleep Number, City BBQ, Mattress Firm and Subway. Rick Drogosz, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, a global investment advisor. Core Acquisitions LLC was the buyer. The center offers immediate value-add and redevelopment opportunities, according to Mid-America.
MIAMI BEACH, FLA. — Ackerman & Co. has secured $117 million in financing on behalf of locally based Comras Co. for the acquisition of five buildings to complement the north end of Lincoln Road, the retail high street of Miami Beach. Dubbed NoLi (North Lincoln Road), the redevelopment will include 150,000 square feet of boutique retail, dining, wellness and lifestyle concepts, as well as 1,700 square feet of street frontage. Completion of the project is anticipated for the first quarter of 2027. Jonathan Rice of Atlanta-based Ackerman & Co. arranged the financing through ACORE Capital. The sellers of the five properties were affiliates of Morgan Stanley and Terranova Corp. “NoLi promises to be another transformative development by Comras in Miami Beach, alongside recently completed projects like the CocoWalk redevelopment in Coconut Grove and the retail component of Miami Worldcenter,” says Jonathan Rice, executive vice president of capital markets at Ackerman & Co. Situated along Lincoln Road and North Lincoln Lane, NoLi will be converted into a new micro-district that will comprise more than 40 inline retail spaces. NoLi will reuse the existing buildings and repurpose the outdated floorplans to create boutique-sized spaces, with layouts ranging in size from 400 square feet …
QUEEN CREEK, ARIZ. — Vestar has completed Queen Creek Crossing, a 400,000-square-foot retail development located in Queen Creek, approximately 40 miles southeast of Phoenix. Costco anchors the property, which is fully leased. Other tenants include Ashley Furniture, Hobby Lobby, BJ’s Restaurant and Brewhouse, Ono Hawaiian BBQ, Smoothie King, Sleep Number, Fleet Feet, Well Groomed Pets, Desert Financial Credit Union, Natural Pediatrix, Gallery Nails and Snip-Its. Additionally, The Habit Burger and Grill is scheduled to debut in December, while U.S. Bank is expected to open in late 2026. Vestar originally broke ground on the 31-acre development in 2022.
MESA, ARIZ. — Diversified Partners has announced plans to develop East Gate Plaza, a $60 million retail destination at the northeast corner of Elliot and Ellsworth roads in Mesa. Spanning approximately 7 acres, East Gate Plaza is located within the master-planned community of Eastmark and the emerging Superstition Vistas region, a planned 275-square-mile area of developable residential and commercial opportunities. East Gate Plaza will feature distinctive building designs, pedestrian-friendly layouts and a professional curated tenant mix. Current confirmed tenants include Starbucks Coffee, Einstein Bros. Bagels, Discount Tires, FitFX, WingSnob, Señor Taco, Farmer Boys, Zeitouna, Fresh Monkee, Port of Subs, Ono Hawaiian BBQ, Euphoria Nail Salon, Playa Bowls, Hand & Stone Spa, Kolache Café and Andi’s Hair Salon (AVEDA). Additional tenants will include a dental office, a veterinary practice, a med spa, family medicine practice and a restaurant with a bar. The project will also feature the Cambria Hotel. Construction is underway, with delivery slated for first-quarter 2026. Walt Brown Jr. and Robert Mayhew of Diversified Partners are leading the development team. Matt Pergola, Brandon Vasquez and Austin Payne of Diversified Partners CRE are handling brokerage services for the project.
HENDERSON, NEV. — Maverick Commercial Mortgage has arranged two loans totaling $36.4 million in Henderson. Maverick closed a $28 million CMBS loan for the owner, developer and operator of a shopping center in Henderson. The undisclosed borrower, which has owned the property since 2015, will use the loan to refinance the in-place loan and equity. The financing is a five-year, interest-only loan that will provide the borrower long-term, fixed-rate financing to leverage its property and provide steady cash flows. Maverick also closed an $8.4 million land loan for the owner and developer of a land parcel in Henderson. The undisclosed borrower has owned the property since 2015, and is using the loan proceeds to continue the development of the site with retail tenants and quick-service restaurants. This financing will be paid off by the sales of the individual parcels.
LOGANSPORT, IND. — Timber Development Corp. has purchased Cass Commons Shopping Center in Logansport, a city in central Indiana, for $2 million. The 20,000-square-foot property is shadow anchored by a Walmart Supercenter. Tenants include Maurice’s, Great Clips and Buffalo Wild Wings. Dan Waszak of Quantum Real Estate Advisors Inc. brokered the transaction.