Real Estate Roundup: August update
August had its fair share of retail real estate development news, tenant updates, property acquisitions and more.
Here are some of the biggest real estate news stories from the month as reported by Chain Store Age (starting with the most recent).
•Trademark acquires neighborhood center in Austin Fort Worth-based Trademark Property Company has purchased Oak Hill Plaza in Austin, in partnership with Cohen & Steers, a global investment manager. Oak Hill Plaza’s tenant roster includes Wells Fargo, Pluckers, Dollar Tree, AutoZone, Jim’s Restaurant and The Picklr, with an upgraded tenant mix coming soon, according to Trademark.
•JLL acquires Midtown Village in Alabama The JLL Income Property Trust has acquired Midtown Village in Tuscaloosa, Ala., for a purchase price of approximately $94 million. The 345,000-sq.-ft. property is one of the most visited retail centers in the state, with over 5.7 million annual visits. It is located 1.5 miles from the University of Alabama's main campus.
•Placer.ai: Best Buy store visits rebound in Q2 Visits to the electronics retailer rose 2.2% year over year in the second quarter of this year, according to data from Placer.ai. While visits have regularly improved since the start of 2024, the second quarter is the first time overall traffic growth at Best Buy has been positive since at least 2022.
•Retail, residential district planned for 'The Bend' development in Tennessee Urban Story Ventures has detailed plans for a $350 million retail and residential district coming to The Bend, a 120-acre project set to begin development in 2027 in Chattanooga, Tenn. In partnership with development firm Hill Partners and design firm Perkins&Will, the district along the Tennessee River will feature restaurants, retail, Class A office space and over 1,000 residential units, in addition to the previously-announced $300 million amphitheater, which will hold approximately 12,500 seats.
•Target, Home Depot and H-E-B open at new center outside of Dallas Village at Gateway, a 750,000-sq.-ft. open-air center is set to open in Forney, Texas, later this year, anchored by Target, Home Depot, H-E-B and BJ’s Wholesale Club. Other stores set to open at the center in 2026 include Dick’s Sporting Goods, Evo Entertainment, Luna Grill, America’s Best, Livewell and Handel’s Ice Cream.
•Pyramid completes purchase of Providence Place The most-visited shopping center in the state of Rhode Island is now back in the hands of the developer that opened it in the 1990s. Syracuse-based Pyramid Management Group, in partnership with Paolino Properties and DW Partners, has closed on the purchase of Providence Place, the 1.4 million-sq.-ft. retail centerpiece of the state’s capital and its largest mall. Pyramid said it plans to make an immediate impact at the mall that will include aesthetic enhancements to the common areas, new dining and entertainment tenants and more.
•Japan's Muji to open stores at four East Coast shopping centers The Japanese lifestyle retailer will open four new stores at Simon Property Group shopping centers across the Northeast. Each new location will showcase Muji’s assortment of lifestyle products, including women's and men's apparel, furniture and home decor, storage and organization, kitchen and dining and more.
•Commission approves Georgia’s North Point Mall renovation The Alpharetta Planning Commission has approved a plan put together by Alpharetta Sports & Entertainment (ASE) and New York Life — the owner of the North Point Mall in Alpharetta, Ga., — to renovate the site whose new centerpiece will be the second largest hockey arena in the United States. In collaboration with New York Life, the real estate investment firm Jamestown will oversee pre-development activities for the 100-acre property and seek entitlements that will position the site for NHL franchise expansion in the greater Atlanta market.
•Colliers tapped as retail leasing partner for 125-acre Miramar Cove development Sunbeam Development Corporation will partner with Colliers to curate a mix of shops, restaurants and entertainment concepts for the 125-acre Miramar Cove property in Miramar, Fla., west of Miami and Fort Lauderdale. Miramar Cove broke ground in May 2026, and will deliver approximately 400,000 square feet of retail, dining and entertainment space anchored by a 35,000-square-foot grocer.
•Pop Mart to open first Hawaii store Honolulu’s Ala Moana Center is landing an in-demand new retail tenant. Hawaii’s largest open-air shopping center has announced new tenants slated to open in the coming months, chief among being Asian collectibles retailer Pop Mart. The new store will mark the brand’s first store in the state.
•Dutch Bros in big expansion move via acquisition — here are the locations The fast-growing drive-thru coffee chain said it has entered into an agreement to acquire the real estate and related site assets of up to 65 Salad and Go locations across Arizona, Nevada, Oklahoma and Texas. Salad and Go filed for bankruptcy on Aug. 4, and abruptly closed all its locations on the following day. Similar to Dutch Bros, Salad and Go operated a drive-thru model.
•Enclosed San Diego center acquired by joint venture Private equity real estate firm Henderson Park and real estate investor, developer and manager Lowe have acquired Plaza Bonita, an enclosed regional shopping mall in National City, Calif., that spans more than 1 million square feet. The mall offers a mix of over 150 shops and restaurants, including Macy’s, Target, JCPenney, AMC Theatres, Nordstrom Rack and Round1.
