If there is one thing I have learned over the past year, it’s that retail buyers have not left Orlando. They have become more selective, and that selectivity is exposing the real issue in the market: there are not enough high-quality retail properties available for sale in the trade areas investors want most. Inventory remains near all-time lows throughout Central Florida, especially in established trade areas with strong demographics, excellent visibility and limited opportunities for new development. As a result, buyer demand continues to outpace the number of available opportunities. Orlando remains one of the strongest retail markets in the country, supported by healthy consumer spending, positive net absorption and a limited construction pipeline that continues to give investors confidence. For owners, this creates an important window. Properties with strong locations, durable tenancy and a clear growth story are standing out because buyers have fewer comparable alternatives to pursue. In this market, quality does not just protect value; it creates competition. One of the biggest changes I have noticed over the past few years is how buyers evaluate opportunities. A few years ago, investors moved much faster. Today, they spend more time underwriting acquisitions, reviewing lease structures and understanding the …
AURORA, COLO. — JLL Capital Markets has arranged the $41.2 million sale of Stanley Marketplace, a 102,125-square-foot adaptive reuse retail development located in Aurora. Jason Schmidt and Austin Snedden of JLL represented the seller, Westfield Co., in the transaction. Leon McBroom and William Haass, also of JLL, secured a five-year, $27.3 million acquisition loan through a regional bank on behalf of the buyer, Magnetic Capital. Originally constructed in 1954 as an ejection seat manufacturing facility, the redeveloped retail property is currently 98 percent leased to a mix of 54 tenants including Denver Biscuit Co., Rosenburg’s Bagels & Delicatessen, Local Drive and Bounce Gymnastics.
MESA, ARIZ. — Evergreen Development has acquired 11.7 acres of land in Mesa, with plans to build a mixed-use project that will feature multifamily space and a new retail center. The retail portion of the site is planned to comprise an approximately 8,500-square-foot multi-tenant retail building for restaurant and retail uses, as well as a 2,360-square-foot freestanding Chipotle with a drive thru. The multifamily portion will include 261 apartments across nine three-story buildings. Evergreen plans to break ground on the project in the first quarter of 2027, with lease-up beginning in the second quarter of 2028. Brookfield sold the site for an undisclosed price.
FAIRFAX, VA. — Fairfax-based Aggregate Real Estate Investors has purchased an 11-building retail and industrial portfolio in Northern Virginia from Clarke-Hook Corp. for $58 million. The portfolio comprises:
LAND O’ LAKES, FLA. — JLL has arranged the sale of The Hub at Bexley, an open-air retail center located at 16954 Focus Loop in Land O’Lakes, about 20 miles north of Tampa. Jorge Portela, Danny Finkle and Jacob Wise of JLL represented the seller, Center Connect Development, which delivered The Hub at Bexley in 2023. CenterSquare Investment Management purchased the property for an undisclosed price. The 50,000-square-foot retail center, which is designed in a village setting, was fully leased at the time of sale to tenants including BellaBrava, Stillwaters Tavern and TREK Bikes.
TUSTIN, CALIF. — Burnham-Ward Properties has purchased Enderle Center, a retail center in the Orange County city of Tustin. The company will redevelop the center, rebrand it as Campo on 17th and introduce approximately 60,000 square feet of revitalized commercial space and 100 new for-sale townhome residences. Intracorp will handle the development. Located at East Seventeenth Street and Enderle Center Drive, Campo on 17th will keep retail as the primary use while adding landscaping, water features, fire pit areas and a town green designed for year-round community gatherings. The redevelopment will include new building construction, remodeling of existing structures, upgraded utilities, reconfigured parking, improved circulation and sitewide enhancements. Leasing for retail space is underway for Campo on 17th, with units ranging from 988 square feet to 6,880 square feet. The restaurant Zov’s, a community staple since 1987, will debut a fully expanded and remodeled 8,200-square-foot space as an anchor tenant within the new project.
NEW YORK CITY — Stout NYC will open a 13,900-square-foot restaurant in Manhattan’s NoMad district. Dos Caminos formerly occupied the multi-level space at 373 Park Avenue S. Henry Rossignol of CBRE represented the tenant in the lease negotiations. Ariel Schuster, Michael Paster and Jenna Kestan of Newmark, along with internal agents Steven Marvin and Jonathan Bock, represented the landlord, a joint venture between Olmstead Properties and Vertex Properties.
NEW SMYRNA BEACH, FLA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a freestanding restaurant in New Smyrna Beach, about 14 miles south of Daytona Beach. Built in 2022, the building is occupied by Wendy’s, which has 16 years left on a triple-net lease that features 7.5 percent rental increases every five years in the initial term. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group brokered the transaction. The buyer and seller requested anonymity. The sales price was also not released. “We were able to generate multiple offers and ultimately close with an out-of-state, all-cash buyer in under 30 days,” says McMinn. “The combination of a 16-year corporate triple-net lease, scheduled rent increases and a strong Daytona Beach-area location created significant investor demand for the property.”
HONOLULU — ESC Pacific, an international architecture, engineering and environmental consulting firm with operations in Japan, Guam and the United States, has purchased the historic Joseph W. Podmore Building at 202 Merchant St. in Honolulu in an off-market transaction. Constructed in 1902 from Hawaiian blue-gray basalt and listed on the National Register of Historic Places since 1983, the two-story Podmore Building features 4,638 square feet. ECS will occupy the building’s second floor as its U.S. base, while the ground floor will continue its longstanding restaurant use. Matthew McKeever of CBRE Hawaii Capital Markets represented the buyer in the transaction, terms of which were not released.
HONOLULU — GGP has signed leases with four new tenants at Ala Moana Center, a 2.4 million-square-foot open-air center located in Honolulu. Kaikoa Gallery, NARA and POP MART are set to open this month. Kids City Adventure will join previously announced tenants BB Wellness and Molly Tea, which are all scheduled to open in October. Recently opened tenants at the center include Ali‘i Coffee Company, gorjana, Lume Harmony, MINISO and Studs. Crocs will also reopen at the center in September, and Tiffany & Co. will relocate temporarily while its permanent location undergoes renovation. Originally opened in 1959, Ala Moana Center features more than 350 stores and restaurants and is anchored by Bloomingdale’s, Neiman Marcus, Nordstrom, Macy’s and Target.