Retail

JLL Negotiates $83M Sale of Retail Property in Boston’s Back Bay

by Taylor Williams September 25, 2025

BOSTON — JLL has negotiated the $83 million sale of a 28,856-square-foot retail property in Boston’s Back Bay neighborhood. Known as the Mandarin Oriental Retail Collection, the spaces are located at 772 and 776-778 Boylston St. at the base of the Mandarin Oriental Hotel and within the Prudential Center. Citizens Bank anchors the space, which was 82 percent leased at the time of sale. Other tenants include Frette, MiniLuxe and Lunette Optic. Chris Angelone, Zach Nitsche, Sam Wiesman and Anthony Cutone of JLL represented the undisclosed seller in the transaction and procured the buyer, The Hennick Group.

September 25, 2025

Acquisitions Retail South Carolina Southeast

Marcus & Millichap Brokers $9.3M Sale of Shopping Center in Walterboro, South Carolina

by John Nelson September 25, 2025

WALTERBORO, S.C. — Marcus & Millichap has brokered the $9.3 million sale of Shoppes at Walterboro, a 53,330-square-foot shopping center located approximately 48 miles west of Charleston. Originally built in 2007 on 7.4 acres, the center was renovated in 2024 with a new roof and awnings, as well as a resurfaced parking lot. Walmart shadow-anchors the property, which was 97 percent leased at the time of sale to tenants including Five Below, Dollar Tree, Cato Fashions, Shoe Show, It’s Fashion, AT&T and China Buffet. Al Taf of Marcus & Millichap represented the seller in the transaction. Benjamin Yelm was Marcus & Millichap’s broker of record in South Carolina.

September 25, 2025

Loans Nevada Retail Western

RA Centers Arranges $20M in Financing for Cheyenne Point Plaza Shopping Center in Las Vegas

by Amy Works September 24, 2025

LAS VEGAS — RA Centers has arranged $20 million in financing for Cheyenne Point Plaza, a 111,809-square-foot neighborhood center located in Las Vegas. Mariana’s Supermarkets anchors the center, which is fully leased. Other tenants include Dollar General, Intermountain Healthcare, Taco Bell, Panda Express and Subway. Raymond Arjmand and Nader Arjmand of RA secured the financing through JP Morgan.

September 24, 2025

California Development Retail Western

LRE & Co. Receives County Approval for 12,000 SF Retail Project in Crescent City, California

by Amy Works September 24, 2025

CRESCENT CITY, CALIF. — LRE & Co. has obtained approval from the Del Norte County Planning Department for a retail development at 915 Washington Blvd. in Crescent City. Situated on an 87,120-square-foot site, the project will feature 12,000 square feet of retail space, including a quick-service restaurant building, two retail shop pads with drive-thru capabilities, multiple inline tenant spaces and two additional drive-thru pads. Construction is slated to start in early 2026.

September 24, 2025

Acquisitions Illinois Midwest Retail

Red Mountain Group Sells 548,000 SF Shopping Center in Algonquin, Illinois

by Kristin Harlow September 24, 2025

ALGONQUIN, ILL. — Red Mountain Group Inc. has sold Algonquin Commons, a 548,000-square-foot retail power center in the Chicago suburb of Algonquin. Nuveen Real Estate was the buyer. Located along Randall Road, Algonquin Commons is home to tenants such as Trader Joe’s, The Fresh Market, Nordstrom Rack, Bob’s Furniture, Ulta Beauty, Old Navy, Dick’s Sporting Goods and Barnes & Noble. Red Mountain Group has focused on repositioning and restabilizing the center since its acquisition. Occupancy increased from 60 percent to more than 90 percent. Bill Bauman of Newmark represented Red Mountain Group in the sale.

September 24, 2025

Acquisitions Indiana Midwest Retail

Marcus & Millichap Brokers $4.8M Sale of Wawa-Occupied Retail Property in Noblesville, Indiana

by Kristin Harlow September 24, 2025

NOBLESVILLE, IND. — Marcus & Millichap has brokered the $4.8 million sale of a newly built retail property occupied by Wawa in the Indianapolis suburb of Noblesville. Located at 2701 Westfield Road, the 5,915-square-foot asset features a new 20-year absolute NNN ground lease corporately guaranteed by Wawa Inc. The store, which opened in May, is positioned at the entrance to Midland Pointe, a $72 million development with luxury apartments and more than 40,000 square feet of retail space. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap represented the seller, a Florida-based developer, in association with Josh Caruana, the firm’s broker of record in Indiana. The buyer was undisclosed.

September 24, 2025

Loans Retail Texas

BWE Arranges $36M Loan for Refinancing of Shopping Center in Terrell, Texas

by Taylor Williams September 23, 2025

TERRELL, TEXAS — Cleveland-based financial intermediary BWE has arranged a $36 million loan for the refinancing of Crossroads at Terrell, a 260,877-square-foot shopping center located east of Dallas. Built between 2022 and 2024 within a larger mixed-use development, the center is home to tenants such as Hobby Lobby, Academy Sports + Outdoors, Marshalls, Burke’s Outlet and Petco. Matt Good of BWE arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.

September 23, 2025

California Company News Retail Western

Vestar to Manage 160,000 SF Shopping Center in Los Angeles

by Amy Works September 23, 2025

LOS ANGELES — Vestar has been selected to provide management services for Warner Marketplace, a 160,000-square-foot shopping center located in the Canoga Park neighborhood of Los Angeles. Warner Marketplace is fully leased to a mix of tenants including Ashley Furniture, BevMo!, Ulta Beauty, DSW, PetSmart and Carter’s. With the addition of Warner Marketplace, Vestar now manages over 12.5 million square feet in California and the western United States.

September 23, 2025

Acquisitions Development Florida Retail Southeast

Partnership Acquires 800,000 SF Galleria at Fort Lauderdale Mall, Plans Redevelopment

by Abby Cox September 23, 2025

FORT LAUDERDALE, FLA. — GFO Investments and InSite Group, in partnership with Atlas Real Estate and Prime Finance, have acquired The Galleria at Fort Lauderdale, with plans to redevelop the 800,000-square-foot mall. Robert Given, Brad Capas and Casey Rosen of CBRE represented the seller, Keystone-Florida Holding Corp., in the transaction. The sales price was not disclosed. GFO and InSite Group will oversee redevelopment efforts, while Sandeep Mathrani of Atlas Hill Real Estate will lead leasing at the property. Galleria Mall, an underperforming, super-regional shopping center, will be reimagined into a community-focused destination. Detailed plans for the redevelopment will be released in the coming months. Keystone-Florida Holding Corp. originally listed the mall for sale in 2023, which was only 67 percent occupied after losing tenants such as Lord & Taylor, SAKS Fifth Avenue and Neiman Marcus, according to South Florida Business Journal. Current tenants include Aldo Shoes, Apple, Blue Martini, H&M, Macy’s, Michael Kors, P.F. Chang’s, the Capital Grille and Zales.

September 23, 2025

Acquisitions California Retail Western

Brixton Capital Buys Carmel Mountain Gateway Plaza in San Diego for $21.3M

by Amy Works September 23, 2025

SAN DIEGO — Brixton Capital has acquired Carmel Mountain Gateway Plaza in San Diego from Triwell Properties for $21.3 million. This off-market transaction marks Brixton’s fifth California retail acquisition this year. Located at 11465-11495 Carmel Mountain Road, the 44,230-square-foot Carmel Mountain Gateway Plaza was built in 1995 and renovated in 2019. With BevMo! and Ulta Beauty as anchor tenants, the property was 75 percent occupied at the time of sale. Kyle Erthner of UrbanCalifornia represented the seller, while Brixton was self-represented in the deal.

September 23, 2025

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