Wednesday, October 15, 2025
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DevelopmentMidwestMissouriRetail

Cordish Cos. Unveils Plans for $10M Renovation of Kansas City Live! Entertainment Destination

by Kristin Harlow

KANSAS CITY, MO. — The Cordish Companies has unveiled plans for a $10 million upgrade to Kansas City Live! in the city’s Power & Light District. The project will include updates to existing spaces and the introduction of a new concept to the entertainment destination. The Kansas City Live! Block will feature a new exterior canopy, ceiling heaters and misters to make the open-air venue welcoming during all seasons. New high-definition ribbon boards and enhanced theatrical lighting will enhance shows and events. Expanded group seating areas, fresh landscaping and additional bar access will enhance the atmosphere. Additionally, Pizza Bar will receive a patio refresh with new outdoor seating, upgraded finishes and bar. Opening in spring 2025, Besos y Abrazos is a Latin-inspired dining venue with DJs. The cuisine draws inspiration from traditional street foods across Latin America, and guests can enjoy crafted margaritas and sangria. Nightclub Mosaic will receive a $2.5 million upgrade and expansion, nearly doubling in size. Standout features will include a state-of-the-art audio system, lighting and DJ booth backed by a new high-resolution LED wall. There will also be a new luxury lounge with expansive bar and additional VIP seating, and a refreshed patio. Construction is scheduled …

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Leasing ActivityMichiganMidwestRetail

Three New Retail Tenants to Open at Sakura Novi Mixed-Use Development in Michigan

by Kristin Harlow

NOVI, MICH. — Three new retail tenants are joining the tenant line-up at Sakura Novi, an Asian-themed mixed-use development in Novi. Teso Life is a Japanese-themed department store specializing in snacks, cosmetics, homeware, kitchenware, stationery and toy collectibles. The company has 15 stores in New York, Texas, Arizona and Georgia with 15 more in development in several states. The 12,000-square-foot store at Sakura Novi will mark the brand’s first Michigan location. Paris Baguette is a Korean-owned bakery specializing in French and Asian pastries and baked goods, cakes, sandwiches, coffee and drinks. Paris Baguette’s 3,000-square-foot store at Sakura Novi will be the third location in Michigan. The company has 3,785 stores in South Korea, China, Malaysia, Vietnam and Indonesia, and 105 stores in the U.S. and Canada. Klawsome! will be the first standalone claw machine arcade in Michigan. This type of arcade features the opportunity to win kawaii-style stuffies from claw machines. The stuffies can be traded in for larger or more rare stuffed animals and anime figurines. This form of entertainment is popular in Japan and other Asian countries, as well as U.S. cities with large Asian populations. The three stores will join previously announced restaurants, including Mikiya Wagyu Shabu …

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers $2.5M Sale of Shopping Center in Paulsboro, New Jersey

by Taylor Williams

PAULSBORO, N.J. — Marcus & Millichap has brokered the $2.5 million sale of a 46,236-square-foot shopping center in Paulsboro, located outside of Philadelphia in Southern New Jersey. Save-A-Lot Food Stores and Dollar Tree are the anchor tenants at the property at 545 Broad St. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller and buyer, both of which were private investors that requested anonymity, in the transaction.

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AcquisitionsFloridaRetailSoutheast

Colliers Arranges $26.4M Sale of Volusia Square Shopping Center in Daytona Beach

by John Nelson

DAYTONA BEACH, FLA. — Colliers has arranged the $26.4 million sale of Volusia Square, a 193,923-square-foot shopping center located at 2455 W. International Speedway Blvd. in Daytona Beach. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, Lamar Cos., in the transaction. Mosaic Realty Partners purchased the shopping center, which is situated less than 300 yards from Daytona International Speedway. Volusia Square was 97.2 percent leased at the time of sale to tenants including Urban Air Adventure Park, Amped Fitness, Ollie’s Bargain Outlet and Restaurant Depot Express. Three retail outparcels were included in the sale, including two single-tenant buildings occupied by Buffalo Wild Wings and Arby’s and a multi-tenant building leased to Lenscrafters and Cava.

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AcquisitionsKentuckyRetailSoutheast

Marcus & Millichap Arranges Sale of 39,161 SF Shopping Center in Albany, Kentucky

by John Nelson

ALBANY, KY. — Marcus & Millichap has arranged the sale of Westview Shopping Center, a 39,161-square-foot retail center located at 700 Burkesville Road in Albany, a city in southern Kentucky near the border of Tennessee. The property was 97 percent leased at the time of sale to tenants including IGA Hometown Grocery, Dragon Garden, Majors Pizza and Albany Nail Salon. IGA Hometown has anchored Westview since the center was built in 1988. Zach Taylor and Eric Abbot of Marcus & Millichap’s Atlanta office represented the seller, a developer based in Tennessee, in the $1.7 million transaction. The buyer is an undisclosed private investor. Grant Fitzgerald of Marcus & Millichap served as the broker of record in Kentucky for the deal.

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AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Facilitates $10.8M Sale of Retail Property in Yucaipa, California

by Amy Works

YUCAIPA, CALIF. — Marcus & Millichap has brokered the sale of Center Point Plaza, a shopping center in Yucaipa. A partnership sold the asset to a private investor for $10.8 million. Located at 33490-33492 Oak Glen Road, Center Point Plaza offers 28,924 square feet of space occupied by a variety of tenants, including retailers, restaurants and medical office users. The property was constructed in 2007. Ivan Prochko, Orbell Ovaness and Ara Rostamian of the Ovaness-Rostamian Group of Marcus & Mililchap’s Los Angeles office represented the seller, while Bashir Tariq of Keller Williams Realty represented the buyer in the transaction.

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AcquisitionsIllinoisMidwestMultifamilyRetail

Interra Realty Negotiates $11.2M Sale of Apartment, Retail Building in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Interra Realty has negotiated the $11.2 million sale of a 35-unit apartment and retail building in Chicago’s Lincoln Park neighborhood. The property at 2200 N. Clark St. features 28 apartments and seven retail spaces that were all fully leased at the time of sale. The 10,000 square feet of ground-floor retail space is home to tenants such as an art gallery and Michelin-starred restaurant Esmé. Constructed in 1891, the building has been well maintained following capital improvements in 2008-2009. Joe Smazal, Brad Feldman and Craig Martin of Interra represented the seller, a local real estate investment firm that deploys institutional capital. Interra also procured the buyer, Beal Properties, a Chicago-based private office owned by Bill Silverstein.

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AcquisitionsNew JerseyNortheastRestaurantRetailTop Stories

Blackstone Agrees to Acquire Majority Ownership Position in Jersey Mike’s Subs

by Kristin Harlow

MANASQUAN, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and digital transformation. New York City-based Blackstone has a long history of investing in and propelling the growth of franchisors, including its previous acquisitions of Hilton Hotels and SERVPRO. The firm has recently invested in Tropical Smoothie Café and 7 Brew Coffee. The first Jersey Mike’s shop was founded as Mike’s Subs in Point Pleasant, N.J., in 1956. Cancro began working at the store when he was 14 years old, and later acquired the location in 1975 at the age of 17. He began franchising units in 1987. Today, Jersey Mike’s is a national franchisor with more than 3,000 locations nationwide open and in development. The transaction is expected to be completed …

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4300-4410-W-Union-Hills-Dr-Glendale-AZ
AcquisitionsArizonaRetailWestern

Colliers Brokers Sale of 79,044 SF Union Crossing Retail Center in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — Colliers has arranged the sale of Union Crossing, a shopping center located at 4300-4410 W. Union Hills Drive in Glendale. A family office, under the entity of Union Crossing Shopping Center LLC, acquired the asset from Texas-based Union Crossing LLC for an undisclosed price. Situated on 8.5 acres, the 79,044-square-foot property was originally constructed in 1987 and underwent a significant renovation in 2017. Asiana Market, an ethnic-oriented grocer, anchors the property, which includes approximately 20 tenants. Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo of Colliers handled the transaction.

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IllinoisLeasing ActivityMidwestRetail

Monos to Open 2,800 SF Store in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Travel lifestyle brand Monos has signed a 10-year lease to open a retail location on the ground floor of The Dylan at 160 N. Morgan St. in Chicago. The Dylan is a 30-story multifamily and retail development in the city’s Fulton Market neighborhood. Monos is scheduled to open its 2,800-square-foot store in spring 2025. The Canadian-founded brand launched in 2018 as an online direct-to-consumer retailer and began venturing into physical retail with pop-ups in 2022, followed by its first permanent retail location and Canadian flagship store in Vancouver in 2023. Sterling Bay developed The Dylan in partnership with Ascentris and CIBC Bank. Completed in October 2023, the property is currently 97 percent leased. Phil Golding, Todd Siegel, Kim Wiskup and Gianna Bianconi of CBRE represented Monos.

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