Monday, June 23, 2025
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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Arranges $30M Sale of Shopping Center in Pompano Beach, Florida

by John Nelson

POMPANO BEACH, FLA. — Marcus & Millichap has arranged the $30 million sale of Shoppers Haven, a 205,567-square-foot shopping center in the South Florida city of Pompano Beach. Built in 1964 and renovated multiple times between 1999 and 2023, the property will see the addition of a new Publix grocery store, with construction scheduled to begin over the next 30 days. The buyer, Stiles Corp., also plans to implement improvements to storefronts, façades, landscaping, the parking lot and signage. Tenants at the center include Michaels, Bealls, Walgreens, Party City, YouFit, Outback Steakhouse, Comcast, H&R Block, Dunkin’ and Domino’s Pizza. Howard Bregman of Marcus & Millichap represented the seller, Partridge Equity Group, in the transaction.

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AcquisitionsRetailSoutheastTennessee

Last Mile Investments Acquires 26,114 SF Retail Center in Metro Nashville

by John Nelson

BRENTWOOD, TENN. — Cincinnati-based Last Mile Investments has acquired The Shops at Mallory, a 26,114-square-foot, unanchored retail center located at 1731 Mallory Lane in Brentwood, about 10 miles south of Nashville. Jim Foley of Foley Real Estate represented the undisclosed seller in the transaction. Jordan Powell of Avison Young represented Last Mile Investments, which now has assets in 16 separate MSAs. The sales price was not disclosed. The Shops at Mallory was leased to service and convenience retailers including Massage Envy, Sola Salon Studios and Genesis Diamonds at the time of sale.

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1001-Towne-Ave-Los-Angeles-CA
AcquisitionsCaliforniaMixed-UseOfficeRetailWestern

Colliers Negotiates $13.5M Sale of Mixed-Use Property in Los Angeles

by Amy Works

LOS ANGELES — Colliers has arranged the $13.5 million sale of 1001 Towne Avenue, a mixed-use retail and office building in the Fashion District of Los Angeles. Mark Schuessler, Sean Fulp and Ryan Plummer of Colliers represented the undisclosed seller, while Mark Hong of KORUS Real Estate represented the buyer, a local private individual, in the transaction. The four-story building offers 43,700 square feet of retail and office space in suites ranging in size from 481 square feet to 4,843 square feet. At the time of sale, the property was 82 percent leased to a mix of retail and wholesale apparel businesses.

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RetailSoutheastTop StoriesVirginia

Dollar Tree to Close 1,000 Stores Nationwide

by Kristin Harlow

CHESAPEAKE, VA. — In its fourth-quarter fiscal 2023 results released today, Dollar Tree Inc. (NASDAQ: DLTR) announced that it plans to close approximately 970 underperforming Family Dollar stores. In addition, Chesapeake-based Dollar Tree identified approximately 30 underperforming Dollar Tree stores for closure. Roughly 600 Family Dollar stores are slated to close in the first half of fiscal 2024, with about 370 Family Dollar locations and the 30 Dollar Tree locations set for closure at the end of each store’s current lease term. Years of mismanagement and poor conditions in stores have hurt Family Dollar’s brand, reports CNN. The discount chain is known for catering to low-income customers predominately in cities. Dollar Tree, which focuses more on middle-income shoppers in suburbs, bought Family Dollar in 2015 for $8.5 billion. While Family Dollar has struggled, rival Dollar General has opened about 1,000 stores per year, making it the fastest-growing retailer in the United States, according to CNN. Dollar General’s portfolio totals around 18,000 stores. For the quarter that ended Feb. 3, Dollar Tree reported a net loss of $1.71 billion compared with a profit of $452.2 million during the same period last year. Part of the loss is attributed to “a comprehensive …

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AcquisitionsFloridaRetailSoutheast

JLL Brokers $74.5M Sale of Publix-Anchored Shopping Center in Key West, Florida

by John Nelson

KEY WEST, FLA. — JLL has brokered the $74.5 million sale of Key Plaza Shopping Center, a 230,970-square-foot retail center located at 1107 Key Plaza in Key West. Publix anchors the center, along with junior anchors OfficeMax and Dollar Tree. Manny DeZarraga, Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented the undisclosed seller in the transaction.

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DevelopmentLeasing ActivityMixed-UseMultifamilyRetailSoutheastTennessee

Portman Signs Solidcore to Retail Lease at Starling Residential Tower in Nashville

by John Nelson

NASHVILLE, TENN. — Portman has signed fitness chain [solidcore] to a retail lease at Starling, a 363-unit residential tower underway in Nashville’s Germantown neighborhood. The fitness concept, which focuses on high-intensity, low-impact training in 50-minute group classes, will join a tenant roster that will include Toastique, Social Cantina and Retrograde Coffee. Preleasing efforts at Starling are currently underway, with the first units delivering in May. Portman plans to debut [solidcore] this fall, marking the concept’s second location in Nashville.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of 649,668 SF Orland Park Place Shopping Center in Suburban Chicago

by Kristin Harlow

ORLAND PARK, ILL. — Mid-America Real Estate Corp. has brokered the sale of Orland Park Place, a 649,668-square-foot shopping center in the Chicago suburb of Orland Park. The sales price was undisclosed. The open-air property was 87 percent occupied at the time of sale by tenants such as Nordstrom Rack, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Hobby Lobby, Old Navy, Barnes & Noble, DSW, Ashley Furniture and Steinhafels. Ben Wineman, Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. PMAT Real Estate Investments was the buyer. Pine Tree served as the property manager.

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CaliforniaLoansMixed-UseOfficeRetailWestern

JLL Arranges $135M in Financing for Cross Creek Ranch Mixed-Use Property in Malibu, California

by Amy Works

MALIBU, CALIF. — JLL Capital Markets has arranged $135 million in first lien financing for Cross Creek Ranch, a 122,324-square-foot, Class AA, mixed-used property in Malibu. The property offers 71,605 square feet of retail space and 50,719 square feet of creative office space. John Marshall, Spencer Seibring, Allie Black and Tim Donald of JLL Capital Markets’ debt advisory team secured the five-year loan from Torchlight Investors for the borrower, Pacific Equity Partners. Located at 23465 Civic Center Way on 13 acres, Cross Creek Ranch is adjacent to a Whole Foods Market in the core of Malibu’s shopping district, which also includes Malibu Country Mart, Malibu Village and Malibu Lumber Yard. The center is approximately 13 miles from the Santa Monica pier and 21 miles northwest of Los Angeles International Airport.

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AcquisitionsRetailWashingtonWestern

CDM Fitness Holdings Acquires Seven Tacoma-Area Planet Fitness Clubs

by Amy Works

KENT, WASH. — CDM Fitness Holdings, an SBJ Capital portfolio company based in Foxborough, Mass., with an office in Kent, has purchased seven Planet Fitness clubs from Philadelphia-based Jeg Viper LLC for an undisclosed price. The buyer is one of the largest developers and operators of Planet Fitness locations. Totaling nearly 162,000 square feet in Washington, the properties are: The transaction, which did not involve brokers, grants CDM the rights to build and operate additional clubs in the Tacoma area. The acquisition marks the company’s second Planet Fitness purchase in Washington, following the 2023 purchase of 10 locations in the Seattle area.

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AcquisitionsNortheastPennsylvaniaRetail

Marcus & Millichap Brokers $7M Sale of Shopping Center in Parkesburg, Pennsylvania

by Taylor Williams

PARKESBURG, PA. — Marcus & Millichap has brokered the $7 million sale of Parkesburg Shopping Center, a 53,319-square-foot retail center located about 50 miles west of Philadelphia. Grocery Outlet and Planet Fitness anchor the 7.7-acre property, which recently underwent a capital improvement program. Other tenants include the U.S. Post Office and Dollar General. Joseph French Jr. and Kodi Traver of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction. The deal traded at a cap rate of 7.5 percent.

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