Wednesday, September 17, 2025
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LoansMixed-UseMultifamilyRestaurantRetailSouth CarolinaSoutheast

Dwight Mortgage Trust Funds $110M Refinancing for LC Line and Low Apartments in Charleston

by John Nelson

CHARLESTON, S.C. — Dwight Mortgage Trust, an affiliate of Dwight Capital, has provided a $110 million bridge loan for the refinancing of LC Line and Low, a new 277-unit apartment development in Charleston. Brandon Baksh, Noah Greenwald and Talisse Thompson of Dwight Mortgage Trust originated the loan on behalf of the sponsor, Lifestyle Communities, which will use the loan to refinance existing construction debt and fund remaining construction expenses. LC Line and Low features a main residential building, train shed with loft-style apartments, historic single-family homes with private courtyards and seven retail suites totaling 15,000 square feet. The retail component houses tenants including The Goat Restaurant & Bar and Morning Ritual Coffee Shop, with another restaurant and a cocktail bar in the planning stages. Amenities include a resort-style pool, clubhouse, fitness center with saunas and cold plunges, coworking lounge and a parking deck.

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IllinoisLeasing ActivityMidwestMultifamilyRestaurantRetail

Egg Harbor Cafe to Open at Optima Verdana Apartments in Suburban Chicago

by Kristin Harlow

WILMETTE, ILL. — Egg Harbor Cafe will open at Optima Verdana, a six-story, 100-unit luxury apartment complex in downtown Wilmette, on Tuesday, Aug. 26. Optima Inc. owns the property. The 4,100-square-foot restaurant maintains seating for 140 and is situated directly across from Wilmette’s Metra commuter rail station. Currently fully leased, the residences at Optima Verdana opened in 2023. Floor plans range from 660 to 2,790 square feet. Specializing in breakfast, brunch and lunch, Egg Harbor Cafe operates in Illinois, Wisconsin and Georgia. The new Wilmette location represents the second Egg Harbor within an Optima community, joining the Streeterville location that opened in 2019 at the 490-unit Optima Signature high-rise in downtown Chicago. Optima is planning a new 128-unit luxury building just south of Optima Verdana. Known as Optima Lumina, the project will replace the long-vacant former Imperial Motors car dealership. The developer intends to retain the existing Starbucks within the project’s 5,900 square feet of new commercial space. Optima Verdana and Optima Lumina will be separated by a new public, landscaped plaza.

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GeorgiaLeasing ActivityRestaurantRetailSoutheast

Simon Introduces 18 New and Expanded Retailers at Lenox Square in Atlanta

by John Nelson

ATLANTA — Simon has introduced 18 new and expanded retailers debuting at Lenox Square, a 1.5 million-square-foot retail destination located in Atlanta’s Buckhead district. Nine of the tenants are now open and operating at Lenox Square, including three expanding concepts: Rolex, Burberry and Ferragamo. The other six opened stores are Good American, AllSaints, Ray-Ban, Rowan, Starbucks Coffee and Claire’s. Nine more concepts are set to open later this year, including IWC, Panerai, Mejuri, Cole Haan, Garage, Lovisa, Levi’s, Kelly’s Cajun Grill and Great American Cookie Company/Marble Slab. David Vinehout serves as Simon’s vice president of leasing at Lenox Square and Phipps Plaza, another high-end shopping mall in Buckhead that Simon owns and operates. Lenox Square is anchored by Bloomingdale’s, Neiman Marcus and Macy’s and includes 250 specialty stores and several restaurants, including The Cheesecake Factory, North Italia and True Food Kitchen.

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DevelopmentHospitalityMidwestMinnesotaRestaurantRetail

Kraus-Anderson Completes $10M Restaurant, Lodge in Lutsen, Minnesota

by Kristin Harlow

LUTSEN, MINN. — The Duluth office of Kraus-Anderson has completed construction on Papa Charlie’s Event Center and Lodging in Lutsen within northeast Minnesota. Located at 467 Ski Hill Road, the 9,825-square-foot restaurant and lodge replaces the former facility that was shuttered by a 2023 fire. Designed by LHB Architects, the new $10 million replacement building includes Charlie’s Alpine Bistro. The two-story center’s lodging, called Sunset Studios, includes a bridal suite and eight custom lodging units with balconies overlooking the Poplar River and Moose Mountain. Construction began in September 2024.

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FloridaMarket ReportsRestaurantRetailSoutheastSoutheast Market Reports

Florida’s Retail Evolution Is Paying Off

by John Nelson

When asked what makes Florida appealing from a retail perspective, Steven Miskew, CEO of Southeast Centers, put it succinctly: “The good macro-economic drivers are here: population growth, lack of supply and low vacancy, all in a pro-business environment,” he said.  As Miskew asserts, Florida’s population continues to swell as approximately 1,755 people move into the state daily, according to 2023 data from online self-storage platform StorageCafe.  Additionally, U-Haul has ranked Florida as a top four growth state in its annual growth index — which analyzes the destinations for one-way moves across its fleet — every year since 2015. Seven Florida cities ranked in U-Haul’s top 25 growth metros in 2024. Florida’s growing population underpins the success of its retail sector as more rooftops directly correlates to more demand for corresponding services, including grocery, food-and-beverage, health and wellness and soft goods.  Phil Kirkpatrick, business recruitment and property development at the City of Clearwater’s economic development and housing department, says that the Tampa Bay-area city is seeing very strong retail occupancy levels. “Vacancy is quite low as of the end of 2024, sitting at 5.4 percent,” says Kirkpatrick, acknowledging that the rate exceeds the vacancy rate of the overall Tampa Bay metro …

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CaliforniaDevelopmentHospitalityIndustrialRestaurantRetailWestern

CH Realty Partners Receives Approval for 622-Acre Industrial, Commercial Project in Beaumont, California

by Amy Works

BEAUMONT, CALIF. — CH Realty Partners (CHRP) has secured full entitlements for Beaumont Pointe, a 622-acre industrial and commercial development in Beaumont. In early 2026, CHRP will begin construction on Phase One, encompassing 2 million square feet of industrial space spread across two buildings. Located along the south side of State Route 60 west of Jack Rabbit Trail, Beaumont Pointe will include 5 million square feet of Class A industrial and logistics space across six buildings, 246,000 square feet of general commercial space, a 125-room hotel and 277 acres of open space and conservation area. At full build-out, the project is estimated at $1.5 billion in total development value and is expected to support more than 5,400 jobs and significantly expand Beaumont’s tax base. The Contract for Difference (CFD) structure ensures infrastructure such as roads and utilities as privately funded by the project itself. Final Local Agency Formation Commission (LAFCO) approvals for annexation and water service extension were approved in July 2025.

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Leasing ActivityRestaurantRetailTexas

NewQuest Signs Leases With Four Food-and-Beverage Tenants in Katy, Texas

by Taylor Williams

KATY, TEXAS — Locally based brokerage and development company NewQuest has signed leases with four food-and-beverage tenants at Texas Heritage Marketplace, the firm’s $400 million mixed-use development in the western Houston suburb of Katy. The tenants are Tex-Mex restaurant Escalante’s (5,005 square feet), pizzeria Tony C’s (4,900 square feet), Japanese food concept Aji Izakaya (2,800 square feet) and confectionary Kilwin’s (1,400 square feet). Bob Conwell led the lease negotiations for NewQuest.

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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 …

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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.

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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.

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