Retail

Topgolf to Open First Mississippi Venue Tomorrow in Ridgeland

by John Nelson December 19, 2024

RIDGELAND, MISS. — Topgolf will open its first venue in Mississippi, Topgolf Ridgeland, tomorrow in Ridgeland, which is approximately 11 miles north of downtown Jackson. Topgolf Ridgeland will feature 62 outdoor, climate-controlled hitting bays spanning two levels. Each bay has lounge-type furniture or high-top tables for large or small groups. In addition to signature gameplay, Topgolf Ridgeland will feature a brand new nine-hole mini-golf course and a full-service bar and restaurant. A Topgolf Callaway Brands Corp. brand, Dallas-based Topgolf operates more than 100 outdoor venues around the globe. The Ridgeland venue will mark Topgolf’s 108th location globally.

December 19, 2024

Acquisitions Florida Retail Southeast

CTO Realty Growth Acquires Granada Plaza Shopping Center in Metro Tampa for $16.8M

by John Nelson December 19, 2024

DUNEDIN, FLA. — CTO Realty Growth Inc. has purchased Granada Plaza, a 74,000-square-foot shopping center located on a seven-acre site in the Tampa suburb of Dunedin. Publix anchors the property, which was 95 percent leased at the time of sale. Winter Park, Fla.-based CTO Realty Growth purchased the asset from the undisclosed seller for $16.8 million. According to LoopNet Inc., Granada Plaza was built in 1983.

December 19, 2024

Acquisitions Georgia Retail Southeast

Marcus & Millichap Brokers Sale of Retail Property in Lakeland, Georgia Leased to AutoZone

by John Nelson December 19, 2024

LAKELAND, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a retail property in Lakeland leased to AutoZone. The 9,120-square-foot retail building is located at 60 W. Main St., about 20 miles northeast of Valdosta, Ga. AutoZone has eight years remaining on its 10-year, double-net lease. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group represented the seller, an undisclosed private investor, in the transaction. The buyer is a California-based investor that paid in all-cash. The sales price was not disclosed. “Investment-grade tenants with lower rents and price points continue to receive strong demand in an environment where debt is a challenge,” says McMinn.

December 19, 2024

Development Georgia Leasing Activity Retail Southeast

Life Time Opens New 65,000 SF Gym in Atlanta’s North Druid Hills Neighborhood

by John Nelson December 18, 2024

ATLANTA — Life Time has opened its newest 65,000-square-foot gym, marking the eighth location in Atlanta and the first in DeKalb County for the Minnesota-based fitness brand. Located on eight acres at 1515 Sheridan Road NE, the Life Time North Druid Hills athletic club made its debut on Monday, Dec. 16 and is now offering waitlist sign-ups for potential members. The club offers a range of 150 classes with five boutique studios for barre, cycling, group fitness, yoga and Pilates, as well as dedicated spaces for its Signature Group Training programs Alpha, GTX and UltraFit. Additional amenities include multiple pickleball courts, strength and cardio equipment, a five-lane indoor pool, dedicated workout recovery spaces, LifeSpa and LifeCafé services, dressing rooms and childcare services. Life Time’s outdoor space also features a bistro, beach club, pool deck, private cabanas and chairs, 12 racquet sport courts and a courtside lounge and bar. Life Time recently renovated its existing gym in Peachtree Corners and plans to open a new gym in Atlanta’s Central Perimeter area next year.

December 18, 2024

Acquisitions Arkansas Retail Southeast

Edgemark Acquires Whole Foods-Anchored Shopping Center in Fayetteville, Arkansas

by John Nelson December 18, 2024

FAYETTEVILLE, ARK. — Edgemark Communities, a commercial real estate development and investment firm based in Denver, has purchased College Marketplace, a 64,226-square-foot shopping center located at 3379-3425 N. College Ave. in Fayetteville. Whole Foods Market anchors the center, which was built on a seven-acre site in 2015 near the University of Arkansas campus. In addition to Whole Foods, which occupies nearly two-thirds of the center, College Marketplace’s tenant roster includes Chipotle Mexican Grill, Great Clips, Cava and Alumni Hall. The seller and sales price were not disclosed.

December 18, 2024

Acquisitions Retail Texas

AEW Capital Management Acquires 189,507 SF Shopping Center in Leander, Texas

by Taylor Williams December 18, 2024

LEANDER, TEXAS — AEW Capital Management has acquired Bar W Marketplace, a 189,507-square-foot shopping center in Leander, a northern suburb of Austin. Anchored by grocer H-E-B, the center was fully leased at the time of sale. Other tenants include Chase Bank, Wells Fargo, Whataburger, Chili’s, Torchy’s Tacos and 7Brew Coffee. Barry Brown, Chris Gerard and Erin Lazarus of JLL represented the seller, a partnership led by Barshop & Oles Co., in the transaction. The firm also arranged acquisition financing through Manulife Real Estate Finance.

December 18, 2024

Acquisitions California Retail Western

Crow Holdings Capital Buys 26,699 SF Retail Strip Center in Petaluma, California

by Amy Works December 18, 2024

PETALUMA, CALIF. — Crow Holdings Capital has purchased Petaluma Town Plaza, a retail strip center located at 901 and 905 E. Washington St. in Petaluma, from a private entity for $7.3 million. Built in 1991, the 26,699-square-foot Petaluma Town Center was 64 percent occupied at the time of sale. Current tenants include FedEx, Sherwin-Williams, St. Joseph Health, Posh Nails and SalonCentric. Warren McClean and Eric Kathrein of JLL Capital Market’s Investment and Sales Advisory team represented the seller in the transaction.

December 18, 2024

Acquisitions New York Northeast Retail

Cushman & Wakefield Arranges $17M Sale of Manhattan Retail Condo

by Taylor Williams December 18, 2024

NEW YORK CITY — Cushman & Wakefield has arranged the $17 million sale of an 11,183-square-foot retail condominium located at 2688 Broadway in Manhattan. The space comprises 8,158 square feet on the ground floor and 3,025 square feet on the lower level and is leased to CVS Health Corp., which has 15 years remaining on the lease. Andrew Berry and Charlie Gravina of Cushman & Wakefield represented the buyer, French investment firm Corum Asset Management, in the transaction. The seller was not disclosed.

December 18, 2024

Acquisitions Development Multifamily Retail Texas

AMLI Residential Buys Midway Square Shopping Center in Metro Dallas, Plans Conversion

by Taylor Williams December 17, 2024

ADDISON, TEXAS — AMLI Residential has purchased Midway Square Shopping Center in the northern Dallas metro of Addison with plans to convert the property into a multifamily community. The center, which was originally constructed in the 1980s, is located within the 79-acre Midway South neighborhood and has struggled in the aftermath of the pandemic, according to the brokers who worked on the deal. The new apartment community will be known as AMLI Treehouse and will consist of 570 apartments, 30 luxury rental townhomes, 56 for-sale townhomes, 3.7 acres of green space and 12,500 square feet of standalone retail space. Demolitions will begin in the coming days. The first move-ins are expected to commence during the first half of 2026, with full completion slated for 2027. Ben McCutchin and Sam Kartalis of locally based brokerage firm Younger Partners represented the seller in the transaction and procured AMLI as the buyer.

December 17, 2024

Acquisitions Retail Texas

Cravey Real Estate Arranges Sale of 20,175 SF Retail Building in Corpus Christi

by Taylor Williams December 17, 2024

CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Group has arranged the sale of a 20,175-square-foot retail building in Corpus Christi. The building at 2914 South Padre Island Drive was originally built in 1973 and was formerly occupied by Edwards Law Firm. Lynann Pinkham of Cravey represented the buyer and seller, both of which requested anonymity, in the transaction.

December 17, 2024

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