Tuesday, October 21, 2025
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Superstition-Gateway-Mesa-AZ
AcquisitionsArizonaLee & AssociatesRetailWestern

Desert Troon Divests of Superstition Gateway Shopping Center in Mesa, Arizona for $121M

by Amy Works

MESA, ARIZ. — Desert Troon Cos. (DT-SGE LLC and DT-SGW LLC) has completed the disposition of Superstition Gateway Shopping Center to an undisclosed Southern California-based family office for $121 million, or $244 per square foot. Jan Fincham, Mike Sutton and Brent Moser of Lee & Associates Arizona represented the seller in the off-market transaction. The seller was part of the original development partnership that built the shopping center almost 20 years ago. Situated on 65.7 acres at the southwest corner of US-60 and Signal Butte Road, Superstition Gateway offers 495,000 square feet of retail space, totaling 19 individual parcels. Current tenants at the 90 percent-occupied center include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress for Less, Marshalls, Five Below, PetSmart, Panera Bread, KFC, In-N-Out Burger and Chili’s. The asset was constructed in 2006 and 2012.

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3000-Riverside-Dr-Susanville-CA
AcquisitionsCaliforniaRetailWestern

SRS, Hanley Investment Group Broker $4.7M Sale of Plumas Bank-Occupied Retail Property in Susanville, California

by Amy Works

SUSANVILLE, CALIF. — SRS Real Estate Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of a retail property located at 3000 Riverside Drive in Susanville. A private investment group sold the asset to a San Diego-based private investor for $4.7 million. Plumas Bank occupies the 5,440-square-foot property under a new 15-year, absolute, corporate-guaranteed triple-net lease. Situated on 1.1 acres, the property was renovated in 2021. Alexander Moore of SRS Capital Markets and Jeff Lefko of Hanley Investment Group represented the seller in the transaction.

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Jack in the Box
CaliforniaCompany NewsRestaurantRetailWestern

Jack in the Box to Close Up to 200 Stores, Company to Explore Sale of Del Taco

by Amy Works

SAN DIEGO — Jack in the Box Inc. has announced plans to improve its long-term financial performance across its restaurant system, which includes the closure of 150 to 200 underperforming Jack in the Box restaurants, as well as possible alternatives for its Del Taco brand, which it acquired in March 2022. Jack in the Box will implement a block closure program, which will comprise of approximately 80 to 120 restaurant closures between now and December 31, with the remaining underperforming restaurants closing thereafter, based upon franchise agreement termination dates. San Diego-based Jack in the Box Inc. operates and franchises Jack in the Box, one of the nation’s largest hamburger chains, with approximately 2,200 restaurants across 22 states, and Del Taco, the second largest Mexican-American quick-service restaurant chain by units in the U.S. with approximately 600 restaurants across 17 states.

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Warner-Euclid-Plaza-Fountain-Valley-CA.jpg
AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Arranges Sale of 47,685 SF Warner-Euclid Shopping Center in Fountain Valley, California

by Amy Works

FOUNTAIN VALLEY, CALIF. — Marcus & Millichap has brokered the sale of Warner-Euclid Plaza, a retail property located at 11035 Warner Ave. in Fountain Valley. A private seller sold the asset to a private investor for an undisclosed price. Ron Duong and Tyler Leeson of Marcus & Millichap represented the seller and procured the buyer. Anchored by Stater Bros., Warner-Euclid Plaza offers 47,685 square feet of retail space.

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AcquisitionsRetailTexas

Headwall Investments Buys 5,920 SF Retail Strip Center in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — San Antonio-based Headwall Investments has purchased River District Plaza, a retail strip center in Fort Worth. According to LoopNet Inc., the center was built in 2020 and totals 5,920 square feet. The property was fully leased at the time of sale to three tenants: Wingstop, No Place Like Home and Rustic on the River. The seller and sales price were not disclosed.

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AcquisitionsMichiganMidwestRetail

Mid-America Brokers Sale of 34,431 SF Retail Property in Detroit’s Midtown District

by Kristin Harlow

DETROIT — Mid-America Real Estate Corp. has brokered the sale of The Ellington Retail, a 34,431-square-foot, grocery-anchored property in Detroit’s Midtown neighborhood. The property sold to a private investor and included a leasehold interest in the adjacent parking structure. The center is fully leased to Whole Foods Market, Bank of America, Chase Bank, FedEx Office, Great Expressions Dental, Pure Barre and Qargo Coffee. Ben Wineman and Daniel Stern of Mid-America represented the seller and original master plan developer of the site, Detroit-based The Platform. Jon Kouza of AQRE Advisors represented the buyer.

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DevelopmentIllinoisMidwestRetail

NewMark Merrill to Complete $1.5M Remodel of Bricktown Square Shopping Center in Chicago

by Kristin Harlow

CHICAGO — NewMark Merrill Cos. Inc. has unveiled plans for a $1.5 million renovation of Bricktown Square, a 292,309-square-foot shopping center in Chicago. Improvements will include combining two existing spaces into a single larger space for a new Skechers location; completing façade renovations and new paint to the buildings occupied by ATI, Harbor Freight and LA Fitness; adding new signage and wayfinding; and painting the entire property with a new color scheme. Two new tenants, Okini Buffet and Kinship Health, are slated to open later this year. Since acquiring the property in June 2021, NewMark Merrill has renewed four tenants and generated a 39 percent increase in customer foot traffic, according to Placer.ai. Bricktown Square is now 98 percent leased.

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AcquisitionsNortheastPennsylvaniaRetail

High Real Estate Buys 154,219 SF Shopping Center in Pottstown, Pennsylvania

by Taylor Williams

POTTSTOWN, PA. — An affiliate of Pennsylvania-based investment firm High Real Estate Group has purchased the 154,219-square-foot Suburbia Shopping Center in Pottstown, about 40 miles northwest of Philadelphia. Built on 25.6 acres in 2003 and anchored by supermarket Giant Food, Suburbia Shopping Center was 85 percent leased at the time of sale. Other tenants include Dollar Tree, Starbucks, The UPS Store and Tower Health. Jim Galbally and Patrick Higgins of JLL represented the seller, Gambone Management Co., in the transaction.

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AlabamaLeasing ActivityRetailSoutheast

First National Realty Signs OneLife Fitness to Anchor Shopping Center in Bessemer, Alabama

by John Nelson

BESSEMER, ALA. — First National Realty Partners (FNRP) has signed a lease with OneLife Fitness to bring Tannehill Promenade, a 347,151-square-foot shopping center located at 4889 Promenade Parkway in Bessemer, to 98 percent occupancy. OneLife Fitness will occupy the former 57,455-square-foot JC Penney space — which has been vacant at the shopping center since 2017. The regional fitness operator offers group fitness classes, personal training, spa-like recovery areas and upscale gym equipment. The new club is slated to open in December, marking the brand’s first location in the Birmingham market. Earlier this year, FNRP also signed a lease with Aqua Dermatology for over 2,300 square feet at Tannehill Promenade. Other tenants at the property include Publix, Target, Ross Dress for Less, T.J. Maxx and Burlington.

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Leasing ActivityNew JerseyNortheastRetail

Dick’s Sporting Goods to Open 120,000 SF ‘House of Sport’ Store in Cherry Hill, New Jersey

by Taylor Williams

CHERRY HILL, N.J. — Dick’s Sporting Goods will open an approximately 120,000-square-foot store under its “House of Sport” brand at Cherry Hill Mall in metro Philadelphia. The store will feature a climbing wall, multiple golf bays with TrackMan simulators, an outdoor track and field and a multi-sport cage that can be used for baseball, softball, lacrosse and soccer. The opening is slated for some time next year. PREIT owns Cherry Hill Mall.

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