Friday, August 22, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Retail

AcquisitionsIllinoisMidwestRetail

Quantum Brokers $9M Sale of Retail Center in Plainfield, Illinois

by Kristin Harlow

PLAINFIELD, ILL. — Quantum Real Estate Advisors Inc. has brokered the $9 million sale of a 55,073-square-foot retail center in Plainfield within metro Chicago. Located at 12337 S. Route 59, the property was 97 percent leased at the time of sale to tenants such as Enterprise, One Main Financials, Chop’d and Khaos Brewcade and Kitchen. Brett Berlin of Quantum brokered the transaction. A private investor based in Illinois purchased the asset from a local family development company based in Chicago’s western suburbs.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaMarket ReportsRestaurantRetailWesternWestern Market Reports

Retail Holds Strong in San Diego

by John Nelson

— By Bryan Cunningham of JLL —  The retail sector continues to be a bright spot for commercial real estate in San Diego County. Despite financial headwinds that include interest rates, construction costs and increases in operating costs like labor and insurance, the resiliency of the consumer has allowed retailers and restaurants to continue to generate substantial sales volumes. Both national and regional retail and restaurant tenants continue to expand, although more cautiously than in years past. Retail vacancy rates in San Diego continue to hover around 5 percent, with the more desirable coastal communities closer to 3 percent. The lack of new development due to geographical constraints, as well as interest rates and construction costs, is driving expanding tenants to look purely at second-generation retail centers. While the retail tenant pool is somewhat shallow due to bankruptcies by Bed Bath & Beyond, 99 Cents Only, Party City, JoAnn Stores and the like, the lack of new product is keeping well-positioned shopping centers in high demand. Most grocery- and big box-anchored shopping centers are enjoying rents at record levels with very little vacancy. Retail centers continue to be at the forefront of interest from investors as well. While interest rates …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaRetailSoutheast

Prudent Growth Partners Acquires Metro Atlanta Retail Center for $7.3M

by John Nelson

LAWRENCEVILLE, GA. — North Carolina-based Prudent Growth Partners has acquired Sugarloaf Village, a 32,000-square-foot shopping center located in Lawrenceville, for $7.3 million. The seller was not disclosed. Situated approximately 30 miles northeast of downtown Atlanta, the property was originally built in 2008 and features a mix of 17 tenants including lifestyle retailers and service providers such as a nail salon, pet groomer and barber shop. Other nearby retailers include AT&T, Starbucks Coffee, Publix, Target, Marshalls, Aldi, The Home Depot, PetSmart, Hobby Lobby and Panera Bread.

Continue Reading
FacebookTwitterLinkedinEmail
ArizonaDevelopmentLoansRetailWestern

JLL Arranges $42.5M Equity Placement for Papago Marketplace Mixed-Use Project in Metro Phoenix

by Amy Works

SCOTTSDALE, ARIZ. — JLL Capital Markets has arranged a $42.5 million equity placement for Papago Marketplace, a 55,500-square-foot mixed-use development located in the Phoenix suburb of Scottsdale. Patrick Dempsey and Quin Madden of JLL represented the developer, Pivot Development Co., in securing the equity placement on behalf of an undisclosed institutional advisor. A 23,343-square-foot Sprouts Farmers Market will anchor the project upon completion, which is scheduled for August 2026. Construction is expected to begin this month. Over the past five years, the development of Papago Marketplace has included a 276-unit luxury apartment complex, a 116-room hotel and a mix of retail tenants. The project is currently 80 percent preleased.

Continue Reading
FacebookTwitterLinkedinEmail
695-Jerry-St-Castle-Rock-CO
AcquisitionsColoradoMixed-UseRestaurantRetailWestern

Platinum CRE Brokers $6.4M Sale of Mixed-Use Property in Castle Rock, Colorado

by Amy Works

CASTLE ROCK, COLO. — Platinum Commercial Real Estate has arranged the acquisition of 600 and 695 Jerry Street in Castle Rock. PYFR LLC purchased the asset from RA Morrison LLC for $6.4 million. The property comprises a 25,380-square-foot, four-story mixed-use building and a 4,850-square-foot single-tenant restaurant. At the time of sale, the property was 93.7 percent occupied. Paul Cattin of Platinum CRE represented the buyer, while Campbell Davis, Parker Brown and Matthew Henrichs of CBRE represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestOhioRetail

First Financial Bank to Acquire BankFinancial in $142M Deal

by Kristin Harlow

CINCINNATI AND CHICAGO — First Financial Bancorp. (Nasdaq: FFBC) has agreed to acquire BankFinancial Corp. (Nasdaq: BFIN) in an all-stock transaction valued at approximately $142 million. Upon completion of the transaction, BankFinancial’s consumer, trust/wealth management and selected commercial credit lines of business will be incorporated into First Financial’s respective business lines, and all BankFinancial bank employees will become First Financial associates. The merger agreement has been unanimously approved by the boards of directors of both companies. The deal is expected to close in the fourth quarter, subject to customary closing conditions, regulatory approvals and approval of BankFinancial shareholders. As of June 30, Cincinnati-based First Financial Bancorp. had $18.6 billion in assets, $11.8 billion in loans, $14.4 billion in deposits and $2.6 billion in shareholders’ equity. The company’s subsidiary, First Financial Bank, founded in 1863, provides banking and financial services to businesses and consumers. The company operated 128 full-service banking centers in Ohio, Indiana, Kentucky and Illinois as of June 30. Chicago-based BankFinancial is a commercial lender with 18 full-service banking offices located in Cook, DuPage, Lake and Will counties within Illinois. BankFinancial NA operates as a subsidiary of BankFinancial Corp.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMichiganMidwestRetail

Detroit City Football Club Unveils Name, Renderings for New Soccer Stadium

by Kristin Harlow

DETROIT — The new home of Detroit City Football Club (DCFC), set to open in southwest Detroit for the 2027 USL Championship season, will be known as AlumniFi Field. AlumniFi will also serve as the club’s exclusive financial partner. Sports Revenue Advisors and M3 Group brokered the multi-year agreement. Pending public approvals, construction on the field is scheduled to begin in late 2025. The soccer-specific stadium will be Detroit’s only privately owned and financed professional sports stadium and will seat 15,000. HOK designed the project. AlumniFi is a digital financial platform created by MSU Federal Credit Union.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityRetailTexas

USA Beauty Superstore to Open 29,128 SF Store at Woodmont Plaza in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — USA Beauty Superstore will open a 29,128-square-foot store in Fort Worth. The cosmetics retailer will backfill a former Big Lots store at Woodmont Plaza, a 65,241-square-foot shopping center located on the city’s south side. Bryan Dyer of local brokerage firm The Woodmont Co, represented the undisclosed landlord in the lease negotiations. John Lee of Landmark Realty Group represented USA Beauty Superstore. The opening is scheduled for December.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaNet LeaseRestaurantRetailWestern

SRS Real Estate Partners Brokers Sales of Three Starbucks-Occupied Properties in California Totaling $10M

by Amy Works

CATHEDRAL CITY, TEMECULA AND REDDING, CALIF. — SRS Real Estate Partners has arranged the sales of three restaurant properties totaling $10 million. Starbucks Coffee occupies the three newly constructed properties, which include drive-thrus, under long-term, corporate-guaranteed triple-net leases. The sales include: – A 1,900-square-foot property at the southwest corner of Highway 111 and Date Palm Drive in Cathedral City. A Northern California-based private investor acquired the asset from a Newport Beach, Calif.-based retail and restaurant development company for $3.7 million. Alexander Moore of SRS Capital Markets represented the buyer in the deal. – A 3,600-square-foot property at 27425 Ynez Road in Temecula. A West Coast-based developer sold the property to a California-based private investor for $3.6 million. Pat Kent and Parker Walter of SRS Capital Markets brokered the sale. – A 2,055-square-foot building at 3045 Shasta View Drive in Redding that sold for $2.7 million. Alexander Moore of SRS Capital Markets represented the seller, a California-based private investor, and the buyer, a Northern California-based private investor.

Continue Reading
FacebookTwitterLinkedinEmail
Dutch-Bros-Beaumont-CA
AcquisitionsCaliforniaDevelopmentRestaurantRetailWestern

Hanley Investment Group Arranges $2.8M Sale of Dutch Bros-Leased Retail Property in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail property located at 4990 Van Buren Blvd. in Riverside. Portland, Ore.-based developers Zach Bonsall and Braden Bernards of Cole Valley Partners sold the asset to a Long Beach, Calif.-based private investor for $2.8 million. Dutch Bros Coffee will occupy the 1,025-square-foot drive-thru building, which is currently under construction, on a 15-year absolute triple-net ground lease with 10 percent rental increases every five years. An opening date has not been announced for the location. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Mark Troughton of Whittier, Calif.-based Mark Troughton Real Estate represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts