Tuesday, November 11, 2025
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The Ranch
ArizonaDevelopmentLeasing ActivityMixed-UseMultifamilyRestaurantRetailTop StoriesWestern

Partnership Receives Final Approval for $1B Mixed-Use Development in Gilbert, Arizona

by Abby Cox

GILBERT, ARIZ. — A partnership between Las Vegas-based IndiCap, Salt Lake City-based Colmena Group and locally based Langley Properties has received final entitlement approval from the Town of Gilbert’s Planning Commission to begin construction for The Ranch, a proposed $1 billion mixed-use development in Gilbert. Situated near the Phoenix-Mesa Gateway Airport and Arizona State University’s Polytechnic Campus, The Ranch will span more than 295 acres and is anticipated to become Gilbert’s largest mixed-use development to date, according to the development team. The project is also expected to create roughly 6,000 jobs during construction. “This entitlement approval marks a turning point not just for The Ranch, but for Gilbert as a whole,” says Todd Ostransky, vice president of regional development at IndiCap. “This development is designed to meet the evolving needs of businesses and residents while driving sustainable economic growth in the region.” Upon full build-out of the multi-phase project, The Ranch will include a 221-acre light industrial component totaling 3 million square feet, 34 acres of retail space and 729 multifamily units across three communities. Steve Larsen of JLL is managing leasing efforts for the industrial portion of the project. Phase I of The Ranch — which is set to break ground in the fall …

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Disston Plaza
AcquisitionsFloridaRetailSoutheast

Joint Venture Acquires Disston Plaza Shopping Center in St. Petersburg, Florida for $31.4M

by Abby Cox

ST. PETERSBURG, FLA. — A joint venture between AEW Capital Management, Mack Real Estate Group (MREG) and Soundwater Properties (SWP) has acquired Disston Plaza, a 129,150-square-foot shopping center located in St. Petersburg. The sales price was $31.4 million, according to the Tampa Bay Business Journal. This transaction marks the second acquisition for the newly formed joint venture, which targets grocery-anchored retail centers in East Coast markets with purchase prices between $10 million and $50 million. Danny Finkle and Jorge Portela of JLL represented the undisclosed seller in the transaction.  Publix anchors Disston Plaza, which features a mix of additional tenants including Bealls Outlet, Dollar Tree, Pet Supermarket and The UPS Store. Built in 1954, the center sits on roughly 12 acres. 

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TA Travel Center
AlabamaDevelopmentLoansRetailSoutheast

Forman Capital Provides $20M Construction Loan for Redevelopment, Completion of Retail Travel Center Near Mobile, Alabama

by Abby Cox

ROBERTSDALE, ALA. — Forman Capital has provided a $20 million construction bridge loan to LV Petroleum, the largest owner and operator of TA Travel Center franchises in the United States, for the redevelopment and completion of a retail travel plaza at 27801 County Road 64 in Robertsdale. Formerly the Oasis Travel Center, the property has already been converted into a TA Travel Center with all facilities operating, except for diesel fuel sales. Situated about 27 miles east of Mobile, the 51-acre site features 26,797 square feet of retail space, including Subway and Sbarro restaurants, eight gas pumps, five diesel pumps, four diesel emission fluid pumps and parking for 100 vehicles and 220 semi-trucks. Brett Forman, Ben Jacobson, Scott Mehlman, Ty Regnier and Cam Fleury of Forman Capital internally represented the firm in the transaction. LV Petroleum operates more than 40 convenience stores and travel centers throughout the country.   

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Paradise-Esplanade-Paradise-NV
AcquisitionsNevadaRetailWestern

JLL Negotiates $46.4M Sale of Paradise Esplanade Retail Center Near Las Vegas

by Amy Works

PARADISE, NEV. — JLL Capital Markets has arranged the $46.4 million sale of Paradise Esplanade, a 58,727-square-foot neighborhood shopping center located in Paradise, roughly 11 miles south of the Las Vegas Strip and adjacent to the University of Nevada-Las Vegas. CVS Pharmacy and Ferraro’s Italian Restaurant & Wine Bar anchor the two-building property, which was 89 percent leased at the time of sale. Daniel Tyner and Gleb Lvovich of JLL’s Investment Sales and Advisory team represented the private seller in the transaction. The buyer was a Los Angeles-based private family office.

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AcquisitionsRetailTexas

Disney Investment Group Arranges Sale of 79,885 SF Shopping Center in Dallas

by Taylor Williams

DALLAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Mockingbird Central Plaza, a 79,885-square-foot shopping center located in the Highland Park area of Dallas. The center was 98 percent leased at the time of sale to 22 tenants, including Whole Earth Provision, Jason’s Deli and Mattress Firm. David Disney and Adam Crockett of DIG represented the seller, Dallas-based Corsair Property Co., in the transaction and procured the buyer, shopping center REIT Curbline Properties.

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AcquisitionsArizonaRetailWestern

Cohen & Steers, Sterling Organization Acquire 159,000 SF Shopping Center in Metro Phoenix 

by Amy Works

DEER VALLEY, ARIZ. — A joint venture between Cohen & Steers Income Opportunities REIT (CNSREIT) and Sterling Organization has acquired Deer Valley Towne Center, a 159,000-square-foot, open-air shopping center located in the Deer Valley neighborhood of Phoenix. Target shadow anchors the center, which is situated across from Phoenix General Hospital and PetSmart’s corporate headquarters. The property is more than 94 percent leased to tenants including Five Below, Ross Dress For Less, Dollar Tree, PetSmart, Michaels, Jersey Mike’s Subs, Panda Express, Chipotle, Sola Salon Studios, GNC and Bath & Body Works. This transaction marks CNSREIT’s fourth acquisition with Sterling Organization and the sixth open-air shopping center in its portfolio.

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AcquisitionsColoradoOfficeRetailWestern

John Propp Commercial Negotiates $2.5M Sale of Office, Retail Property in Castle Rock, Colorado

by Amy Works

CASTLE ROCK, COLO. — John Propp Commercial Group has arranged the sale of an office and retail building located at 734 Wilcox St. in Castle Rock. Seven34 LLC sold the asset to 2950 West Point Holdings LLC for $2.5 million. The two-story property offers 8,969 square feet of office and retail space, as well as parking. John Propp of John Propp Commercial Group represented the seller, while Andrew Monette of Pinnacle Real Estate represented the buyer. The buyer plans to operate the property as an investment.

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AcquisitionsMidwestMinnesotaRetail

Mid-America Brokers Sale of 136,757 SF Shopping Center Near Mayo Clinic in Minnesota

by Kristin Harlow

ROCHESTER, MINN. — Mid-America Real Estate Corp. has brokered the sale of Broadway Commons, a 136,757-square-foot shopping center in Rochester near the Mayo Clinic. The property is fully leased to Total Wine & More, DSW, Petco, Five Below, Michaels, Famous Footwear and Boot Barn. Kohl’s and Walmart are shadow anchors. Joe Girardi, Emily Gadomski, Amy Senn and Bryce Thompson of Mid-America represented the seller, Epic Real Estate Partners. The buyer and sales price were not provided.

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AcquisitionsIllinoisMidwestRestaurantRetail

Boulder Group Arranges $3.3M Sale of Chick-fil-A Ground Lease in Chicago

by Kristin Harlow

CHICAGO — The Boulder Group has arranged the $3.3 million sale of a single-tenant, net-leased Chick-fil-A property at 11301 S. Corliss Ave. in Chicago. The newly constructed building, which features a drive-thru, is operating under a 15-year ground lease with 10 percent rental escalations every five years and eight five-year renewal options. The property is positioned directly west of I-94 and at the southeast corner of the newly revitalized Pullman Park development. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a real estate developer in Chicago. The buyer was a local private investor. Today, there are nearly 3,000 Chick-fil-A locations across 48 states, Canada and Puerto Rico.

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AcquisitionsFloridaRetailSoutheast

CBRE Brokers $165M Sale of Winter Garden Village Shopping Center in Central Florida

by John Nelson

WINTER GARDEN, FLA. — CBRE has brokered the sale of Winter Garden Village, a 629,326-square-foot shopping center located at 3251 Daniels Road in Winter Garden, a western suburb of Orlando. Dennis Carson, Casey Rosen, Michael Etemad and Sriram Rajan of CBRE represented the seller, Beachwood, Ohio-based SITE Centers Corp., in the transaction. The buyer and sales price were not disclosed, but Orlando Business Journal reports that an affiliate of New York City-based RREEF Property Trust purchased the center for $165 million. Curbline Properties Corp., an affiliate of SITE Centers, retained 130,563 square feet of single- and multi-tenant outparcels at Winter Garden Village. The power retail center was 89 percent leased at the time of sale to tenants including Bealls, Best Buy, Burlington, Marshalls/Homegoods, Ross Dress for Less and Ulta Beauty.

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