Thursday, July 10, 2025
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AcquisitionsFloridaRetailSoutheast

JLL Arranges $22.3M Sale of Ridge Plaza Shopping Center in Davie, Florida

by John Nelson

DAVIE, FLA. — JLL Capital Markets has arranged the $22.3 million sale of Ridge Plaza, a shopping center in the South Florida city of Davie. JBL Asset Management acquired the property from Baltimore-based Continental Realty Corp. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented the seller in the transaction. Located at 9000-9200 W. State Road 84, the property totals 138,554 square feet. Tenants at Ridge Plaza, which was 98.6 percent occupied at the time of sale, include Paragon Theaters, Goodwill and Off The Wall.

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LoansMixed-UseOfficeOregonRetailWestern

Gantry Arranges $15.5M Refinancing for Lake View Village Mixed-Use Building in Lake Oswego, Oregon

by Amy Works

LAKE OSWEGO, ORE. — Gantry has secured a $15.5 million permanent loan for the refinancing of Lake View Village, a mixed-use office and retail property in downtown Lake Oswego, a suburb south of Portland. The master-planned project is located at State Street and A Avenue and offers 91,000 square feet of rentable office and retail space in six village-style buildings ranging from one- to three-stories. Tenants include dining, retail and professional services tenants. Blake Hering and Alicia Sabanero of Gantry represented the borrower, a private real estate investor and the center’s original developer. One of Gantry’s correspondent life company lenders provided the 10-year loan, which features a 30-year amortization at a fixed interest rate.

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Spencerport-Village-Plaza
AcquisitionsNew YorkNortheastRetail

Legacy Realty Negotiates Sale of 99,096 SF Shopping Center in Spencerport, New York

by Taylor Williams

SPENCERPORT, N.Y. — New York-based brokerage firm Legacy Realty Group Advisors has negotiated the sale of Spencerport Village Plaza, a 99,096-square-foot shopping center located on the western outskirts of Rochester. Tops Friendly Markets anchors the property, which is also home to tenants such as Dollar Tree, M&T Bank and Lamont Awards & Apparel. Jacob Baruch and Daniel Baruch of Legacy Realty represented the buyer and seller, both of which requested anonymity, in the transaction.

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AcquisitionsNew YorkNortheastRetail

Innovative Resources for Independence Buys Queens Retail Building for $5.2M

by Taylor Williams

NEW YORK CITY — New York-based nonprofit organization Innovative Resources for Independence has purchased a 9,227-square-foot retail building in the Rego Park area of Queens. The sales price was $5.2 million. The building, which previously housed a Rite-Aid, is located at 65-35 Woodhaven Blvd. and includes 21 parking spaces. Andrew Jaworski, Dean Rosensweig, Chris Betting and Jojo Lewis of CBRE represented the undisclosed seller in the transaction.

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Leasing ActivityNew JerseyNortheastPennsylvaniaRetail

Norman’s Hallmark to Open Nine Stores in New Jersey, Pennsylvania

by Taylor Williams

NEWTOWN, PA. — Norman’s Hallmark has signed leases to open nine stores that will range in size from 5,000 to 7,000 square feet in New Jersey and Pennsylvania. The New Jersey stores are located in Princeton, Somers Point, Marlton, Ocean Township, Manalapan, Turnersville and Mays Landing. The Pennsylvania stores are located in Allentown and Wyomissing. Rose Urban of Equity Retail Brokers represented the Pennsylvania-based home décor retailer in all lease negotiations.

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LoansRetailTexas

MMCC Arranges $10.8M Acquisition Loan for North Dallas Shopping Center

by Taylor Williams

DALLAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.8 million acquisition loan for Sam Moon Center, a 126,513-square-foot retail property located at 11814 Harry Hines Blvd. in North Dallas. The shopping center was built in 2003. Robert Bhat of MMCC arranged the financing through an undisclosed local bank on behalf of the borrower, which also requested anonymity. The loan carried a 7 percent interest rate, 10-year term, 25-year amortization schedule and 12 months of interest-only payments.

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Leasing ActivityRetailTexas

Cushman & Wakefield Negotiates 12,078 SF Retail Lease in Metro Houston

by Taylor Williams

SPRING, TEXAS — Cushman & Wakefield has negotiated a 12,078-square-foot retail lease in the northern Houston suburb of Spring. The tenant, interactive entertainment concept Activate Games, is taking space within Grogan’s Mill shopping center for its second location in the Houston area. Eric Lestin and Michael Burgower of Cushman & Wakefield represented Activate Games in the lease negotiations. Adam Bluestein of Global Fund Investments represented the undisclosed landlord.

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AcquisitionsColoradoRetailWestern

Peakview Center Sells Retail Property in Greenwood Village, Colorado for $5.5M

by Amy Works

GREENWOOD VILLAGE, COLO. — Malman Commercial Real Estate has arranged the sale of a multi-tenant retail building in Greenwood Village, a suburb south of Denver. Peakview Center Inc. sold the asset to 215-291 Larchmont Boulevard for $5.5 million. Located at 9251 E. Peakview Ave., the 14,760-square-foot property is fully leased. Jake Malman and Dan Prevedel of Malman Commercial Real Estate represented the seller in the deal.

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451-W-Vandalia-Ave-Porterville-CA
AcquisitionsCaliforniaNet LeaseRestaurantRetailWestern

Marcus & Millichap Brokers Sale of Dutch Bros Retail Ground Lease in Porterville, California

by Amy Works

PORTERVILLE, CALIF. — Marcus & Millichap has arranged the sale of a ground lease at 451 W. Vandalia Ave. in Porterville, located in the San Joaquin Valley. A partnership sold the asset to an undisclosed buyer for $1.4 million. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap, along with Adam Christofferson of Marcus & Millichap as broker of record, represented the seller. A drive-thru Dutch Bros coffee shop occupies the 800-square-foot property, which was constructed in 2024, under a new, 15-year, absolute triple-net ground lease featuring 10 percent rental increases every five years and multiple renewal options.

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DevelopmentMidwestNebraskaRetail

Darland to Build 6,114 SF Branch in South Omaha for CharterWest Bank

by Kristin Harlow

OMAHA, NEB. — Darland Construction Co. is building a new 6,114-square-foot branch for CharterWest Bank & Mortgage Center on South 24th Street in South Omaha. The facility will offer a full suite of financial services, including consumer and commercial banking as well as mortgage lending. The building’s exterior will feature a distinctive Spanish style with a natural stone finish and a barrel tile roof. Completion is slated for early 2025. EK Schulz is the project architect.

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