Retail

IRG, PREP Funds Acquire Washington Crown Center in Suburban Pittsburgh, Plan Redevelopment

by Abby Cox September 23, 2025

NORTH FRANKLIN TOWNSHIP, PA. — A partnership between Los Angeles-based Industrial Realty Group (IRG) and Cleveland-based PREP Funds has acquired Washington Crown Center, a 450,000-square-foot mall near Pittsburgh, with plans to undertake a redevelopment. As reported by regional media outlet Observer-Reporter, as well as several other media sources, IRG and PREP Funds are jointly investing $40 million for the transformation of the former mall into a mixed-use hub for retail and business that will be called Franklin Crossroads Park. In addition, according to Pittsburgh Business Times, New York-based Kohan Retail Investment Group originally purchased the mall for $20 million in 2016 and began marketing the property for sale in 2024. Construction of Franklin Crossroads Park, which is situated 30 miles south of Pittsburgh in Washington County along I-70, is set to begin this fall. Meanwhile, a portion of the mall will remain open through the end of the year. “Our vision is to diversify the site’s use by attracting new retailers and businesses to the property,” says Chris Salata, partner at PREP Funds. “This adaptive reuse project will significantly improve the facility and bring new economic activity.” Redevelopment plans for Franklin Crossroads Park currently call for the creation of a 100,000-square-foot retail …

September 23, 2025

Acquisitions Florida Retail Southeast

JLL Negotiates Sale of 38,874 SF Retail Center in Belleair Bluffs, Florida

by John Nelson September 22, 2025

BELLEAIR BLUFFS, FLA. — JLL has negotiated the sale of Belleair Bazaar, a 38,874-square-foot, unanchored retail strip center located at 2979 W. Bay Drive in Belleair Bluffs, a suburb of Tampa in Pinellas County. The property features 29,603 square feet of retail space and 9,271 square feet of second-story office space. Jorge Portela, Danny Finkle and Kim Flores of JLL represented the seller, Cardinal Point Management LLC, in the transaction. The buyer was Shannon Waltchack LLC, a retail real estate investment and management firm based in Birmingham, Ala. The sales price was not disclosed. Renovated and repositioned in 2020, Belleair Bazaar’s retail component was 96 percent leased at the time of sale to tenants including Bonefish Grill, Cold Stone Creamery, State Farm and Maggie Mae’s.

September 22, 2025

Acquisitions Florida Retail Southeast

SRS Brokers $3.9M Sale of Retail Property in Odessa, Florida Leased to Circle K

by John Nelson September 22, 2025

ODESSA, FLA. — SRS Real Estate Partners has brokered the $3.9 million ground lease sale of a retail property in Odessa leased to Circle K. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private developer, in the transaction. The buyer, a private investment entity controlled by family members residing in California and Florida, purchased the property to complete a 1031 tax-deferred exchange. The 5,200-square-foot property is situated on 1.7 acres at the northwest corner of State Route 54 and Asturian Parkway and has a 15-year, corporate-guaranteed lease in place. The Circle K serves as an outparcel to a larger development that will feature Ford’s Garage, a three-tenant retail property, offices and apartments.

September 22, 2025

Acquisitions Illinois Midwest Retail

Mid-America Arranges Sale of 20,427 SF Pebblewood Commons Retail Center in Metro Chicago

by Kristin Harlow September 19, 2025

NAPERVILLE, ILL. — Mid-America Real Estate Corp. has arranged the sale of Pebblewood Commons, a 20,427-square-foot retail center in the Chicago suburb of Naperville. Constructed in 2008, the property is home to dining, health and wellness, and personal services tenants. Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Northern Builders Inc. The asset sold to a public REIT.

September 19, 2025

Acquisitions Retail Texas

Westwood Financial Acquires 80,599 SF Shopping Center in Rockwall, Texas

by Taylor Williams September 18, 2025

ROCKWALL, TEXAS — Los Angeles-based investment firm Westwood Financial has acquired Shops at Stone Creek, an 80,599-square-foot retail center located in the northeastern Dallas suburb of Rockwall. A 59,313-square-foot Tom Thumb grocery store anchors the center, which was fully leased at the time of sale. Other tenants include Care Now, Great Clips, Subway, Salad and Go, McDonald’s, HTeaO and The UPS Store. The seller and sales price were not disclosed.

September 18, 2025

Leasing Activity Retail Texas

Whole Foods Opens 47,918 SF Grocery Store in McKinney, Texas

by Taylor Williams September 18, 2025

MCKINNEY, TEXAS — Whole Foods Market has opened a 47,918-square-foot grocery store at 8701 W. University Drive in the northern Dallas suburb of McKinney. The store offers more than 600 local items that are sourced from more than 120 suppliers in Texas and neighboring states. The store also features full-service meat and seafood counters, a prepared foods section, wellness and beauty section and a selection of more than 500 wines and 250 beers.

September 18, 2025

Development Georgia Mixed-Use Restaurant Retail Southeast

Atlantic Residential Gives Update on 47,000 SF Retail Plaza at Crossing at Coal Mountain in Metro Atlanta

by John Nelson September 18, 2025

CUMMING, GA. — Atlantic Residential has made progress on Phase I of the retail plaza at The Crossing at Coal Mountain, a 140-acre mixed-use development underway in Cumming, a northern suburb of Atlanta. The project sits in the Coal Mountain region of north Forsyth County and will feature apartments, retail space and for-sale homes being developed in partnership with Toll Brothers. Atlantic Residential broke ground in July on the 47,000 square feet of shops, restaurants and entertainment space at the development, with plans to complete construction in summer 2026. Food-and-beverage concepts at The Crossing at Coal Mountain will make up 60 percent of the retail offerings, while the remaining 40 percent will include soft goods and services such as spas, salons, fitness concepts and a 20,000-square-foot pad ideal for a small-format grocery or market anchor, as well as other service-based businesses. Atlantic Residential has selected Jennifer Steffen and Matt Maloney of JLL to handle the retail leasing assignment at the development. Construction progress to date includes framing of the project’s mixed-use building up to its fifth level, two of the multifamily buildings and installation of roads and infrastructure.

September 18, 2025

Florida Loans Retail Southeast

MMCC Arranges $3.9M Refinancing for Shopping Center in Clermont, Florida

by John Nelson September 18, 2025

CLERMONT, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.9 million loan for the refinancing of a 15,520-square-foot retail strip center located at 9350 U.S. 192 in Clermont, 26 miles southwest of Orlando. Tenants at the property include several restaurants, a healthcare office and a tattoo parlor. Garrett Fierstein of MMCC’s Orlando office secured the financing through a national credit union on behalf of the privately based borrower. The loan features a 10-year term with a 25-year amortization period and a 65 percent loan-to-value ratio.

September 18, 2025

Acquisitions California Retail Western

Partnership Negotiates Sale of 24,604 SF Retail Center in Fairfield, California

by Amy Works September 18, 2025

FAIRFIELD, CALIF. — A partnership between Faris Lee Investments and John Cumbelich & Associates has negotiated the sale of a 24,604-square-foot, two-building retail center located at 1370-1380 Holiday Lane in Fairfield. Built in 2005 on 2.3 acres, the center is roughly 42 percent occupied. Tenants include Aspen Dental, Peet’s Coffee & Tea, Togo’s Sandwich Shop and Golden 1 Credit Union. Additionally, the center features an anchor space totaling 14,375 square feet, which is currently unleased. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee, along with John Cumbelich and Joe Kuvetakis of John Cumbelich & Associates, represented the undisclosed seller in the transaction.

September 18, 2025

Acquisitions California Retail Western

Shopoff Realty Investments Sells Final Retail Parcel at Sunrise Village in Fullerton, California for $2.5M

by Amy Works September 18, 2025

FULLERTON, CALIF. — Shopoff Realty Investments has sold the last remaining retail parcel at Sunrise Village, a 14-acre neighborhood shopping center located in the Orange County city of Fullerton, for $2.5 million. The recently sold property totals nearly half an acre and houses a veterinary clinic. The unused space at the parcel will be transformed into a fast-casual Korean restaurant. The remaining retail parcels at the property were previously sold to separate owners. The first parcel sale included a 1.4-acre corner retail space, which featured a drive-thru Del Taco and three adjacent retail pads. The other two retail parcels totaled roughly 1 acre apiece. Lennar Homes purchased The Pines at Fullerton, the 9.9-acre residential portion of Sunrise Village, in October 2023, with plans to build 113 homes. Construction is already underway on the site, with the first set of homes scheduled for delivery in 2026. Shopoff originally acquired the shopping center in 2021 for $26.5 million and secured approvals to redevelop the property into a mixed-use center with service-based tenants and housing options.

September 18, 2025

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