Saturday, July 19, 2025
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AcquisitionsIndianaMidwestRetail

Hanley Investment Group Arranges Sales of Three Restaurant Properties in Indiana Totaling $9M

by Kristin Harlow

GREENFIELD, IND. — Hanley Investment Group Real Estate Advisors has arranged the sales of three restaurant properties in Greenfield, an eastern suburb of Indianapolis. Dylan Mallory of Hanley and Jacque Haynes of Midland Atlantic Properties represented the seller and developer, Indianapolis-based Midland Atlantic Properties, in all three transactions. All three properties are part of a new development named Greenfield Market. In the first sale, a 2,616-square-foot building occupied by Chipotle Mexican Grill sold to a Simi Valley, Calif.-based private investor for $2.9 million. The property features a mobile order drive-thru lane. David Leibowitz of IREA Inc. represented the buyer. In the second transaction, a 3,500-square-foot property occupied by Panera Bread sold to a Hillsborough, Calif.-based private investor for $2.9 million. The building features two drive-thru lanes. Jeff Ida and Doug Ogard of Marcus & Millichap represented the buyer. In the third sale, a 4,500-square-foot Chick-fil-A ground lease sold for $3.1 million to a Dallas-based private investor, who was self-represented.

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Leasing ActivityNortheastPennsylvaniaRetail

Without A Cue to Open 3,346 SF Dinner Theater in Philadelphia

by Taylor Williams

PHILADELPHIA — Without A Cue, an entertainment concept that centers on dinner theaters and murder mysteries, will open a 3,346-square-foot venue in Philadelphia. The space will be located within The Curtis, a 912,245-square-foot adaptive reuse building in Washington Square West that is owned by Keystone Development + Investment. Veronica Blum and Alex Snyder of MPN Realty represented Keystone in the lease negotiations. Joe Scarpone, also with MPN Realty, represented Without A Cue, which will open in late fall.

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Leasing ActivityRetailTexas

Northern Tool, AutoZone Sign Retail Leases Totaling 39,357 SF in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS  — Northern Tool + Equipment and AutoZone have signed retail leases totaling 39,357 square feet in McKinney, about 35 miles northeast of Dallas. The tenants will backfill a space previously occupied by Super 1 Foods with footprints of 22,500 and 16,857 square feet, respectively. William Rosatti represented the landlord, JAH Realty, in the lease negotiations on an internal basis. Clay Mote of Retail Union and Mack House of Westover Group represented Northern Tool and AutoZone, respectively.

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LoansNew YorkNortheastRetail

Axiom Capital Arranges $13.2M Refinancing of Upstate New York Retail Center

by Taylor Williams

EAST GREENBUSH, N.Y. — Commercial finance and advisory firm Axiom Capital Corp. has arranged a $13.3 million permanent loan for the refinancing of a retail center in East Greenbush, roughly six miles southeast of Albany. The 301,894-square-foot property comprises six separate buildings and was leased to 16 tenants at the time of the loan closing. The names of the borrower, a development and management firm, and direct lender, a local bank, were not disclosed.

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AcquisitionsNorth CarolinaRetailSoutheast

ShopOne Centers REIT Purchases Grocery-Anchored Shopping Center in Cary, North Carolina

by John Nelson

CARY, N.C. — ShopOne Centers REIT Inc., a privately held retail real estate investor and owner based in New York City, has purchased Shoppes on the Parkway in Cary. Located 10 miles west of downtown Raleigh, the 40,000-square-foot property was 96 percent leased at the time of sale to tenants including The Fresh Market. ShopOne acquired the grocery-anchored center in a joint venture with Pantheon and an unnamed global institutional investor. The seller and sales price were not disclosed.

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AcquisitionsKansasMidwestRetail

Blue West Capital Arranges $9M Sale of Grocery-Anchored Shopping Center in Salina, Kansas

by Kristin Harlow

SALINA, KAN. — Blue West Capital has arranged the $9 million sale of Sunset Plaza in Salina, a city in central Kansas. Dillons, a division of Kroger, anchors the 126,606-square-foot shopping center. The Dillons store was remodeled in 2019 and a fuel center was added in 2020. Originally constructed in 1960, Sunset Plaza was nearly fully leased at the time of sale. Robert Edwards, Zach Wright and Shawn Dickmann of Blue West Capital represented the seller, a Kansas-based private equity real estate company. The property sold at 97 percent of the asking price to a Denver-based buyer completing a 1031 exchange.

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AcquisitionsMidwestOhioRetail

Marcus & Millichap Brokers $3.7M Sale of Retail Property in Suburban Columbus

by Kristin Harlow

GAHANNA, OHIO — Marcus & Millichap has brokered the sale of an 8,464-square-foot retail property in the Columbus suburb of Gahanna for $3.7 million. The property, which was 85 percent leased at the time of sale, is home to City BBQ and WesBanco Bank. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap brokered the transaction. Both the buyer and seller were private, out-of-state investors. The asset sold at 96 percent of the list price, which equates to a cap rate of 6.5 percent.

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AcquisitionsIowaMidwestRetail

JLL Arranges $27.5M Sale of Lakeport Commons Shopping Center in Sioux City, Iowa

by Kristin Harlow

SIOUX CITY, IOWA — JLL Capital Markets has arranged the $27.5 million sale of Lakeport Commons in Sioux City, a city in Northwest Iowa. The 202,880-square-foot shopping center is 95 percent leased. Aldi and Ross Dress for Less recently signed 10-year leases to open at the property. Additional tenants include Five Below, Old Navy, PetSmart, Michaels, Boot Barn, Shoe Carnival, Staples and a separately owned Kohl’s. Amy Sands, Clinton Mitchell, Michael Nieder and Marcus Pitts of JLL represented the seller, The RH Johnson Co. A Midwest-based private investor purchased the asset.

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Leasing ActivityRestaurantRetailTexas

Northwood Retail Adds Five New Tenants to Prestonwood Place in Metro Dallas

by Taylor Williams

ADDISON, TEXAS — Locally based shopping center owner Northwood Retail has added five new tenants to Prestonwood Place, a 107,000-square-foot center located in the northern Dallas suburb of Addison. One Medical, a membership-based primary care practice, is now open, and Loro Asian Smokehouse & Bar will open later this year. Two other food-and-beverage concepts, Thai restaurant Asian Mint and fast-casual eatery Sweetgreen, are also slated to launch before year’s end. Buff City Soap will open its store in 2023.

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AcquisitionsRetailTexas

STRIVE Negotiates Sale of 32,116 SF Shopping Center in Melissa, Texas

by Taylor Williams

MELISSA, TEXAS — Dallas-based retail brokerage firm STRIVE has negotiated the sale of Melissa Village, a 32,116-square-foot shopping center located about 40 miles north of Dallas. Hudson Lambert of STRIVE represented the seller, a Dallas-based developer, in the transaction, and procured the buyer, a 1031 exchange investor. Both parties requested anonymity. Melissa Village was fully leased at the time of sale to tenants such as Smoothie King, Wingstop, Jersey Mike’s Subs and Jeremiah’s Italian Ice.

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