FRISCO, TEXAS — Locally based brokerage firm SHOP Cos. has negotiated the sale of Custer Road Commons, a 23,609-square-foot retail strip center in Frisco. At the time of sale, the center was fully leased to tenants such as Starwood Cafe, My Eyelab, Jason’s Deli, Zenith Clinic and Novuskin. Tim Axilrod and Tayler Rose of the SHOP Cos. represented the seller, a Texas-based limited partnership, in the transaction. The seller and sales price were not disclosed.
BEAUMONT, TEXAS — BioLife Plasma Services has signed an 18,000-square-foot retail lease at Beaumont Crossroads Shopping Center in East Texas. The blood donation center is backfilling part of a space formerly occupied by Stein Mart. Jason Gaines of Houston-based Sturbridge Commercial Real Estate represented the undisclosed landlord in the lease negotiations. Matt Parsons of JLL represented the tenant, which now operates 25 facilities in Texas.
NORTH BRUNSWICK, N.J. — Azarian Realty Co. has negotiated a 9,746-square-foot retail lease at The Shoppes at North Brunswick in Northern New Jersey. Kevin Pelio of Azarian represented the undisclosed landlord in the lease negotiations. David Dunkelman of Soloff Realty & Development represented the tenant, Big Blue Swim School. The Shoppes at North Brunswick is now 94 percent leased following the execution of this deal.
LOWELL, IND. — Marcus & Millichap has arranged the sale of a two-tenant retail property occupied by Advance Auto Parts and Subway in Lowell, a city in Northwest Indiana. The sales price and seller were undisclosed. The 36,155-square-foot building is located at 1729 E. Commercial Ave. Joseph Van Vuren and Nicholas Kanich of Marcus & Millichap represented the buyer, a local private investor. Josh Caruana of Marcus & Millichap assisted in closing the transaction as the broker of record in Indiana.
CORONADO, CALIF. — CBRE has brokered the $40 million sale of Coronado Plaza, a 41,949-square-foot retail center in Coronado. Built in 1981, the three-story property is situated across from the Hotel Del Coronado. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the seller, an entity doing business as PREF Coronado Plaza LLC, in the transaction.
FONTANA, CALIF. — Progressive Real Estate Partners has arranged the $6 million sale of South Sierra Plaza, a 17,250-square-foot strip retail center located in Fontana. Comprising 12 units, the property was 93 percent leased at the time of sale to tenants including a dentist, nail salon, Armed Forces career center, staffing agency, Japanese restaurant and Peruvian restaurant. Brad Umansky and Lance Mordachini of Progressive represented the seller, a private Los Angeles-based investor, in the transaction. Paul Galmarini and Albert Lopez, also of Progressive, handled leasing at the property prior to the sale. Cameron Diab of D & Z Properties represented the buyer, another Los Angeles-based private investor.
SAN DIEGO — Jimbo’s Naturally has signed a 25,000-square-foot lease at The Row at Civita, Sudberry Properties’ 20-acre mixed-use development in San Diego. The grocery store will be an anchor at the property, which is situated within the 230-acre, master-planned community of Civita. Construction on the building is scheduled to begin in early 2025, with the opening planned for the second half of 2026. This will mark the fifth Jimbo’s store within San Diego County.
VIERA, FLA. — WS Development and PGIM Real Estate have acquired The Avenue Viera, a 550,000-square-foot, open-air retail center located directly off I-95 in Viera. Situated within the 43,000-acre master-planned Viera community in Brevard County, the property houses more than 80 retail, restaurant and entertainment tenants, including AMC Theatres, Belk, Chili’s, Cost Plus World Market, Kohl’s, lululemon athletica, Moe’s Southwest Grill, Old Navy, Sephora and Urban Air Adventure Park. Massachusetts-based WS Development will assume management of the center and will share ownership with PGIM, which has owned Avenue Viera since 2006. The sales price was not disclosed. WS Development and PGIM plan to remerchandise the center, as well as host events and install public art.
STONECREST, GA. — Stonecrest Resorts has completed the second phase of redevelopment at Priví, a 143,000-square-foot adaptive reuse of the former Sears department store at The Mall at Stonecrest, which is located roughly 15 miles east of Atlanta. Phase II comprised $4.2 million of renovations and the addition of tenants including Baldwin’s Literary Social Bookstore, Priví Art Gallery, The Exposure Hub, 101 TKO Radio, Priví Event Center, 3 Degrees Infrared Sauna Studio, Picasso’s Splat Room, The Lion’s Cage MMA & Fitness Gym and Garden Life Juice Bar. Stonecrest SeaQuest, an interactive aquarium destination, anchors Phase I of the development. Bay Mountain Capital has provided $8.3 million in financing for the next phase: the addition of a 40,000-square-foot food hall on the property’s second level. Concepts will include Atlanta Breakfast Club, The Original Hot Dog Factory, Dope Coffee, a craft bar, golf simulator suites, a daiquiri bar and a fine-dining restaurant. Construction is scheduled to begin this quarter, with openings beginning in spring of next year. Plans for the site also include a 10,000-square-foot history and cultural center.
FORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged four retail leases totaling 19,745 square feet at Westcliff Shopping Center in Fort Worth. New tenants at the property include skateboarding and specialty apparel retailer Cowtown, Specialist Jewelry Clinic, Fort Worth Dance Academy and Organized Nest, a boutique professional services company. Ben Gehrke and Riley Dow of LanCarte represented the landlord, CTO Realty Growth Inc., in the lease negotiations.