Monday, June 23, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Retail

DevelopmentIllinoisMidwestMixed-UseMultifamilyRestaurantRetailSeniors HousingTop Stories

Centennial Expands Redevelopment Plans for Hawthorn Mall in Vernon Hills, Illinois

by Jeff Shaw

VERNON HILLS, ILL. – Dallas-based real estate firm Centennial has revealed plans to expand on its Hawthorn 2.0 redevelopment of Hawthorn Mall, a super-regional shopping center in Vernon Hills, a northern suburb of Chicago. Built in 1973, the mall currently houses over 120 retailers. Centennial first announced the redevelopment of Hawthorn Mall in 2019, which included new retail and dining options, luxury multifamily housing and indoor/outdoor gathering spaces. The expanded plans nearly triple the new development at the property and include 162 units of seniors housing, a 25,000-square-foot grocery store and 109,000 square feet of open-air retail. The center started its redevelopment with the 2020 unveiling of Center Park, a 15,190 square-foot outdoor space in the mall’s former Center Court. Center Park features both lawn games and soft furnishings. The expanded plan calls for the relocation of 250 apartments to create a larger outdoor public plaza to increase pedestrian access to the mall and a new main entrance for the shopping center. Hawthorn 2.0 will also create more retail, restaurant and entertainment space surrounding the exterior of the Hawthorn Row integrated streetscape. “The expansion of our Hawthorn 2.0 plans enhances the original vision we had for the center as a …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndianaMidwestRetail

First National Realty Partners Acquires Southern Plaza Shopping Center in Indianapolis

by Kristin Harlow

INDIANAPOLIS — First National Realty Partners (FNRP) has acquired Southern Plaza in Indianapolis for an undisclosed price. A 59,500-square-foot Kroger store anchors the 268,000-square-foot shopping center. A tenant at the center since 1990, Kroger recently updated its storefront and renovated the interior. Additional tenants at the property include Ross Dress for Less, Harbor Freight, Oak Street Health, Goodwill, Rue 21, Qdoba, Cosmo Prof, BMO Bank and Sally Beauty. John May of Prodigy Real Estate Group represented the undisclosed seller.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsKansasMidwestRetail

Quantum Arranges $3.5M Sale of Retail Strip Center in Lawrence, Kansas

by Kristin Harlow

LAWRENCE, KAN. — Quantum Real Estate Advisors Inc. has arranged the sale of a multi-tenant retail strip center in Lawrence for $3.5 million. Jersey Mike’s, which recently signed a new 10-year lease, anchors the property, which is located at 4801 Bauer Farm Drive. Zack Hilgendorf of Quantum represented the undisclosed buyer. The property sold to a family office based in Wichita.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestRetailWisconsin

Greywolf Partners Negotiates $1M Sale of Convenience Store Portfolio in Wisconsin

by Kristin Harlow

BARABOO, REEDSBURG AND WYOCENA, WIS. — Greywolf Brokerage, a division of Greywolf Partners Inc., has negotiated the sale of a three-property portfolio of gas stations and convenience stores in Wisconsin for $1 million. The properties are located at 516 Ash St. in Baraboo, 306 E. Main St. in Reedsburg and 123 S. Washington St. in Wyocena. Together, the assets total 6,144 square feet. Steve Turner of Greywolf Brokerage represented the seller. Buyer and seller information was not provided.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaRestaurantRetailSoutheast

Marcus & Millichap Brokers $9.4M Sale of Keystone Shoppes Retail Center in Miami

by John Nelson

MIAMI — Marcus & Millichap has arranged the sale of Keystone Shoppes, a 9,566-square-foot retail center located at 190 NW 42nd Ave. in Miami. Ruben Gonzalez and John Obando, private investors, acquired the property for $9.4 million. Jonathan De La Rosa of Marcus & Millichap marketed the center on behalf of the seller, Keystone Holdings. Chipotle Mexican Grill anchors the center.

Continue Reading
FacebookTwitterLinkedinEmail
Lee & AssociatesNew YorkNortheastRestaurantRetail

Katz & Associates Negotiates Two Retail, Restaurant Leases in Queens

by Taylor Williams

NEW YORK CITY — Katz & Associates has negotiated two retail leases in Queens. Japanese grocery store Teso Life signed a 6,000-square-foot lease in the Bayside neighborhood, and Filipino fast casual restaurant Jollibee committed to 3,614 square feet at 91-23 Queens Blvd. Daniel DePasquale of Katz & Associates represented the landlords, Paulipark Associates LLC and Midwood, respectively, in both deals. Both concepts will open in 2023.

Continue Reading
FacebookTwitterLinkedinEmail
601-617-Mall-Ring-Circle-Henderson-NV
AcquisitionsNevadaRestaurantRetailWestern

PEBB Enterprises Sells Galleria Pavilion Shopping Center in Henderson, Nevada for $22.5M

by Amy Works

HENDERSON, NEV. — South Florida-based PEBB Enterprises has completed the disposition of Galleria Pavilion, a shopping center located at 601-617 Mall Ring Circle in Henderson. Dong Koo Kim and Jong Ok Kim, trustees of the Dong Koo Kim and Jong Ok Kim Family Trust, acquired the asset for $22.5 million. The 64,598-square-foot Galleria Pavilion is on an outparcel of Sunset Mall, a 1.1-million-square-foot retail center. At the time of sale, the multi-tenant Galleria Pavilion was 95 percent occupied. Current tenants include Buffalo Wild Wings, Panera Bread, Nothing Bundt Cakes, Aqua Tots and Plato’s Closet. PEBB originally purchased the property in October 2019, when it was only 37.4 percent occupied. Adam Malan and Deana Marcello of LOGIC Commercial Real Estate represented the seller, while Jennifer Lee of Berkshire Hathaway Home Services Nevada represented the buyers in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
12005-Central-Ave-Chino-CA
AcquisitionsCaliforniaNet LeaseRestaurantRetailWestern

SRS Real Estate Partners Negotiates $6.2M Sale of Two Retail Properties in Chino, California

by Amy Works

CHINO, CALIF. — SRS Real Estate Partners has arranged the sales of two single-tenant retail buildings that are outparcels to Country Fair Shopping Center, a 168,000-square-foot shopping center in Chino. Separate California-based private investors acquired the assets from a Southern California-based private investor for a total of $6.2 million. Quick-service-restaurants Wienerschnitzel and Carl’s Jr. occupy the two buildings. Built in 1976 at 11901 Central Ave., the 1,600-square-foot, Wienerschnitzel-occupied building sold for $2.4 million. The tenant has approximately seven years remaining on its corporate lease. Constructed in 2016 at 12005 Central Ave., the 3,796-square-foot, Carl’s Jr.-occupied property sold for $3.7 million. The tenant has about 12 years remaining on its corporate lease. Matthew Mousavi and Patrick Luther of SRS National Net Lease Group represented the seller in the transactions.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsArizonaRetailWestern

Cushman & Wakefield|PICOR Brokers Sale of 24,000 SF Retail Building in Sierra Vista, Arizona

by Amy Works

SIERRA VISTA, ARIZ. — Cushman & Wakefield|PICOR has brokered the sale of a retail property in Sierra Vista. Orion Sierra Vista AZ LLC sold the asset to 2030 East LLC for $2.3 million. Located at 354 S. Highway 92, the property features 24,000 square feet of retail space. Jose Dabdoub and Ryan McGregor of Cushman & Wakefield|PICOR represented the seller, while Robert Fischrup and Eric Lamb of Vast Commercial Real Estate Solutions LLC represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
FloridaMarket ReportsRetailSoutheastSoutheast Market Reports

The Story of Tampa’s Urban Renewal is Told Through Retail, Mixed-Use Hubs

by John Nelson

What was once a vacant landscape has undergone a modern-day renaissance, transforming into a thriving, energetic hub infused with dynamic retail, local chef-driven eateries and desirable living and working environments. Tampa has evolved into a top “a place to see” and “place to be” for both out-of-state guests and residents alike. What is one the main driving forces behind this urban revitalization? The rise of high-density mixed-use developments and lifestyle centers that create central spaces for people to live, work, play, shop, dine and explore new experiences. Recently, Florida has benefited from a massive influx of residents and development activity as a result of the COVID-19 pandemic. Varying demographics and age groups flocked to the Sunshine State in search of more space, agreeable weather and an expedient reopening as far as retail, restaurant and entertainment. Along with the mass of new residents, Tampa quickly rose to become the second most popular city in the country for prospective homebuyers, reflecting a new interest to settle down in the area. The retail sector also boomed state-wide, but specifically in Tampa, with retail rents growing 7.8 percent over the last 12 months and ranking among the top 10 fastest growing markets, according to …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts