CHARLESTOWN, MASS. — EverybodyFights will open a 28,000-square-foot gym in Charlestown, located north of Boston, that will be the fitness concept’s third in the state capital area. The space is located within Hood Park, a 20-acre mixed-use redevelopment of the former H.P. Hood & Sons dairy production facility. The gym will feature an infrared sauna, cold plunge tub, Normatec recovery tools, onsite physical therapy services and a dedicated member lounge. The opening is scheduled for December.
MURRIETA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $6.9 million sale of two single-tenant retail pads at the intersection of California Oaks Road and Jackson Avenue in Murrieta. A private developer based in Orange County, Calif., sold the properties to a private 1031 exchange investor based in California’s Central Valley. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, while Brendan Tyoran and Jake Linsky of Matthews Real Estate Investment Services represented the buyer in the deal. The two-tenant property features two separate, stand-alone pads on a 1.78-acre parcel. Built in 2022, Quick Quack Car Wash occupies the 4,126-square-foot property at 40640 California Oaks Road on a 20-year absolute triple-net ground lease with approximately 17 years remaining, including 12 percent rental increases every five years and multiple renewal options. Popeyes, which closed on a lease prior to the sale, will begin construction on a 1,983-square-foot restaurant at 40642 California Oaks Road. The tenant signed a 20-year, absolute triple-net ground lease with 10 percent rental increases every five years.
CHICAGO — Greenstone Partners has brokered the $19.5 million sale of a 54,000-square-foot retail center located at 1415-1417 N. Kingsbury St. in Chicago’s Clybourn Corridor. A venture between Chicago-based Honore Properties and Peerless Development acquired the fully leased property. Danny Spitz and AJ Patel of Greenstone represented the seller, Los Angeles-based Westwood Financial. The transaction marks the fourth acquisition in the immediate corridor for Honore and Peerless. Spitz previously represented the venture in the acquisition of the adjacent property at 821 W. Eastman St. Originally acquired by Westwood in 2017 via a loan assumption structure, the Kingsbury center underwent a significant repositioning following the departure of Buy Buy Baby. In 2023, ownership executed a lease-up strategy by securing Sky Zone on a 10-year lease for 35,386 square feet. The center is also home to PetSmart, which has operated an 18,524-square-foot store since 2012. The property also features a redevelopment component. The asset includes nearly 500,000 square feet of transferable air rights, creating a future high-density multifamily development opportunity. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $13.7 million in acquisition financing through Great Southern Bank.
HUNTINGTON PARK, CALIF. — SRS Real Estate Partners has arranged the acquisition of a retail property located at 3111 E. Florence Ave. in Huntington Park. A Mexico-based private investor purchased the asset from a Los Angeles-based private investor for $11.3 million. Smart & Final occupies the 28,000-square-foot property, which was built in 2018 on 1.3 acres. The property offers ample onsite parking, including a rooftop parking area. Joe Chichester, John Redfield and Kyle Zimmer of SRS Capital Markets represented the buyer in the deal.
LINCOLN, NEB. — CBL Properties has acquired Gateway Mall in Lincoln for $43.5 million from Washington Prime Group. CBL financed the acquisition with a $21 million loan provided by Symetra Life Insurance Co. The five-year loan features a fixed interest rate of 6.46 percent. The property totals roughly 843,000 square feet. Anchor tenants include Dillard’s, JC Penney, Dick’s Sporting Goods, Round 1, H&M, Ulta, Ross Dress for Less, Sierra, Tesla and Total Wine & More. In a separate transaction, CBL has entered into a contract for the sale of an open-air center at an approximately 8 percent capitalization rate. The transaction is expected to generate net proceeds after debt repayment of $25 million and is anticipated to close in April.
CARMEL, IND. — CBRE has brokered the sale of Village Park Plaza, a 290,016-square-foot shopping center in the Indianapolis suburb of Carmel. CBRE’s National Retail Partners Midwest team represented Washington Prime Group in the sale of the property to Pine Tree, which acquired the asset in partnership with a state pension fund. Tenants include Kohl’s, Hobby Lobby, Ross Dress for Less, Ulta and Dollar Tree. The property was 99 percent leased at the time of sale.
The March 2 France Media webinar “Flood Zones & FEMA Compliance — How Developers Avoid Delays, Cut Insurance Costs & Increase Property Value,” hosted by France Media and sponsored by National Flood Experts, examined how flood zones and evolving regulatory requirements are shaping development and financing outlooks. Flood risk is often treated as a late-stage compliance issue, but it can influence site design, permitting timelines, construction costs (and cost expectations) and long-term insurance expenses. Flood maps established by federal and local authorities define development constraints such as base flood elevations and floodways. Because these maps are updated slowly and regulations vary by municipality, developers frequently encounter unexpected complications during permitting, including the need for additional engineering studies, modeling requirements and extended approval timelines. The webinar panelists emphasized ways that developers can mitigate these risks by approaching flood zones strategically and incorporating flood analysis earlier in the development lifecycle. Early collaboration can identify opportunities to cut costs and avoid delays. Watch this brief webinar to learn about common problems caused by flood zones, changes in regulatory needs and practical pathways to help reduce or eliminate flood zone requirements (to increase the value of properties). Click here to download the slide presentation. …
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of 3030 North Broadway, a Mariano’s-anchored retail property serving Chicago’s Lakeview and Lincoln Park neighborhoods. Additional tenants at the five-story, 131,748-square-foot asset include Club Studio, PNC, Starbucks and Fresh Dental. Ben Wineman and Joe Girardi of Mid-America represented the seller, SITE Centers. The buyer was L3 Capital.
BONITA SPRINGS, FLA. — The Zuckerman Group has signed leases with two new national retailers at Midtown at Bonita, a 68-acre mixed-use development under construction in Bonita Springs, about 15 miles north of Naples. T.J. Maxx and Ulta Beauty will join the lineup at Midtown at Bonita, bringing the amount of leased retail space to 100,000 square feet. Other committed tenants include Chipotle Mexican Grill, Panera Bread, The Hangry Bison, Club Pilates, Good Vets, Jeff’s Bagel Run, Noire the Nail Bar, Bonita Beach Wine & Spirits, Gelato&Co., LowBrow Pizza & Beer, Mathnasium, a dental office operated by Pacific Dental Services, Cold Stone Creamery, The UPS Store, Mason’s Famous Lobster Rolls and Three Sixteen Cafe, among others. Construction of the development’s retail component broke ground in November, with the first tenants expected to move in this spring. Upon full build-out, Midtown at Bonita will feature a 165-room boutique hotel, a luxury apartment complex and 30 acres of preserved open space, in addition to the shops, restaurants and service retailers.
CHARLOTTE, N.C. AND KANSAS CITY, MO. — Charlotte-based Six Flags Entertainment Corp. (NYSE: FUN), the world’s largest regional theme park operator, has entered into a definitive agreement to sell seven of its amusement parks for $331 million in cash. Kansas City-based EPR Properties (NYSE: EPR), an experiential and entertainment real estate investment trust, was the buyer. The parks total more than 1,600 acres combined and draw approximately 4.5 million visitors annually. “Consistent with our strategy, this divestiture enables us to concentrate our capital, leadership and operational focus on the properties that we believe generate the strongest returns and offer the greatest long-term upside,” says John Reilly, president and CEO of Six Flags. Six Flags will sell a list of parks including Valleyfair in Minneapolis; Worlds of Fun in Kansas City; Michigan’s Adventure in Grand Rapids, Mich.; Schlitterbahn Waterpark Galveston in Galveston, Texas; Six Flags St. Louis in St. Louis; Six Flags Great Escape in Queensbury, N.Y.; and Six Flags La Ronde in Montreal. Florida-based Enchanted Parks, a newly formed owner-operator entity that was formerly known as Innovative Attraction Management, is partnering with EPR Properties to lease and operate the six U.S. parks, while La Ronde Operations Inc. will lease and operate …