Thursday, July 31, 2025
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Retail

AcquisitionsIllinoisMidwestRetail

Higher Grounds Education Buys 9,897 SF Building in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Higher Grounds Education has purchased a 9,897-square-foot building to open a Montessori school in Naperville. The purchase price was not disclosed. The property, situated on one acre at 5051 Ace Lane, formerly served as an Alder School daycare facility. Linda Kost and Dave Schmidt of Realty Metrix Commercial represented the seller, DBJ Corp. Higher Grounds plans to renovate the property and reopen the facility late this summer. Higher Grounds is a Montessori education program for children from birth to adolescence.

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DevelopmentRetailTexas

Cinépolis to Open 10-Screen Movie Theater at Shops at Willow Bend in Plano

by Taylor Williams

PLANO, TEXAS — Cinépolis USA will open a 10-screen, 40,000-square-foot theater at The Shops at Willow Bend in Plano as part of owner Starwood Retail Partners’ $145 million project to expand and renovate the mall. The theater, which joins entertainment concepts like Crayola Experience and the North Texas Performing Arts Children’s Theatre, will be directly integrated into the mall and will offer a variety of food and beverage options. The venue, which is slated to open in 2020, will be Cinépolis’ third in Texas.

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Woodmont-Plaza-North-Fort-Worth
AcquisitionsRetailTexas

Shop Cos. Brokers Sale of 42,004 SF Shopping Center in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — SHOP Cos. has brokered the sale of Woodmont Plaza North, a 42,004-square-foot retail center in Fort Worth. The property was approximately 95 percent leased at the time of sale to tenants such as Schlotzsky’s Deli, Supercuts, H&R Block, Little Caesar’s Pizza and Boost Mobile. Tim Axilrod, Tommy Tucker and Cameron Burk of SHOP Cos. represented the seller, California-based Black Lion Investment Group, in the transaction. The trio also procured the buyer, a Texas-based limited liability company.

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IllinoisLeasing ActivityMidwestMixed-UseRetail

Retailers Begin Opening at Addison & Clark Near Chicago’s Wrigley Field

by Kristin Harlow

CHICAGO — Retailers have begun opening at Addison & Clark, a mixed-use project located across the street from Chicago’s Wrigley Field. The lineup includes a 10,000-square-foot Harley Davidson showroom; a 30,000-square-foot Lucky Strike Social, a combination bowling alley, arcade and event venue; the city’s first Beerhead Bar and Eatery; Shake Shack; and Do-Rite Donuts and Chicken. Tenants yet to open include Cargo Food Authority, Cinemex CMX Cinemas, Kilwins and a 32,000-square-foot health club. A joint venture between M&R Development and Bucksbaum Retail Properties is developing the transit-oriented project. RMK Management is managing The Residences at Addison & Clark, a 148-unit luxury apartment component of the project that recently earned LEED Silver certification. First residents moved into the property in September 2018. Monthly rents range from $1,980 to $4,510.

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IllinoisLeasing ActivityMidwestRetail

Peter Millar Opens Flagship Store in Chicago’s Gold Coast

by Kristin Harlow

CHICAGO — Men’s luxury apparel retailer Peter Millar has opened its first Chicago storefront at 877 N. Rush St. in the Gold Coast neighborhood. At 3,000 square feet, the location will serve as the retailer’s flagship store. Matt Ramsey and Anthony Genovese of JLL represented the tenant in the lease transaction. Founded in 2001, Peter Millar produces a wide range of casual sportswear, outerwear, tailored dress apparel and performance golf attire.

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3730-3770-Astrozon-Blvd-Colorado-Springs-CO
AcquisitionsColoradoRetailWestern

Private Investor Sells 18,410 SF Shopping Center in Colorado Springs for $2.1M

by Amy Works

COLORADO SPRINGS, COLO. — A private investor has completed the disposition of a neighborhood shopping center located at 3730-3770 Astrozon Blvd. in Colorado Springs. An undisclosed California-based buyer acquired the property for $2.1 million in a 1031 exchange. The newly renovated property features 18,410 square feet of retail space. Cory Gross and Jake Shirek of Marcus & Millichap’s Denver represented the seller, while Brian Smith, also of Marcus & Millichap’s Denver, represented the buyer in the deal. Phillip Gause, also of Marcus & Millichap Capital Corp. in Denver, facilitated the loan for the buyer.

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AcquisitionsMassachusettsNortheastRetail

SVN | Parsons Commercial Negotiates Sale of Two-Story Retail Strip in Acton, Massachusetts

by David Cohen

ACTON, MASS. — SVN | Parsons Commercial has negotiated the sale of a two-story retail strip center in Acton. The sales price was undisclosed. Located at 452 Great Road, the property sits on nearly two acres of land. The buyer, Surfloft LLC, will occupy a portion of the building, which will be the new site for its retail store, Surfside Pools and Sport Loft Ski Shop. Marci Alvarado and Jake Parsons ofSVN | Parsons Commercial represented Surfloft LLC in the transaction. Avison Young represented the seller, Worker’s Credit Union.

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AcquisitionsFloridaRetailSoutheast

CBRE Negotiates Sale of 158,463 SF Shopping Center in South Florida

by Alex Tostado

PEMBROKE PINES, FLA. — CBRE has negotiated the sale of Pembroke Place, a 158,463-square-foot shopping center in Pembroke Pines. Sedano’s grocery store, Crunch Fitness and Vargas University anchor the property, which is located 24 miles north of downtown Miami. Longpoint Realty Partners acquired the asset for an undisclosed price. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of Sterling Organization, in the transaction.

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AcquisitionsNorth CarolinaRetailSoutheast

Ziff Properties Sells 65,112 SF Retail Center in Charlotte

by Alex Tostado

CHARLOTTE, N.C. — Ziff Properties has sold Terraces at University Place, a 65,112-square-foot shopping center in Charlotte’s University neighborhood. The asset was built in 2000 and was 97 percent occupied at the time of the sale to tenants including The Flying Saucer Draught Emporium, Que Onda Tacos, Iron Dish Korean BBQ, The Press Box Bar & Grill and Smoothie King. Tom Kolarczyk of HFF represented the seller in the transaction. LBX Investments acquired the property. Gregg Shapiro and Cory Fowler, also with HFF, arranged a 10-year, fixed-rate acquisition loan through TIAA Bank on behalf of the buyer. The sales price and loan amount were not disclosed.

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