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NEWS ROUNDUP
ACQUISITION: Clarion Partners pays $26.95M for fully leased 69,070 SF Midtown Corner in Raleigh. Clarion Partners acquired Midtown Corner, a 69,070 SF shopping center at East Six Forks and Wake Forest roads in Raleigh, North Carolina, for $26.95 million from Ram Realty Advisors. Built in 1997 on 7.45 acres, the center was 100% leased at the time of sale and includes PGA Tour Superstore, First Watch, Fifth Third Bank, Jimmy John’s, Papa John’s, and Benjamin Moore – Prism Paint + Design. Costco Wholesale and Wegmans serve as nearby shadow anchors. The adjacent Chick-fil-A property and future Whataburger site were excluded from the sale because each owns its real estate.
ACQUISITION: Marion Properties One, Holder Commercial Ventures buy Food Lion-Shadowed Bunn Crossing for $3.3M. Marion Properties One and Holder Commercial Ventures acquired Bunn Crossing, an 11,536 SF retail center at 23 N.C. 98 in Bunn, North Carolina, for $3.3 million from Bunn Crossing LLC. The seller had purchased the property for $1.85 million in January 2021. The center is shadow-anchored by Food Lion and was marketed as a stabilized retail property with six local and regional tenants. Dean Marion, a member of Marion Properties One, and Samuel Holder Jr., a partner at Solid Rock Ventures and a member of Holder Commercial Ventures, are associated with the buyer entities. The buyers described the acquisition as a long-term investment, citing the Food Lion location and growth along the Raleigh corridor.
DEVELOPMENT: Texas Markets lead U.S. Retail Construction with Dallas near 7M SF. Dallas, Houston and Austin ranked as the nation’s top three retail construction markets in Q1 2026, according to CoStar. Dallas had nearly 7 million SF under construction, with almost 5 million SF pre-leased. Houston had just under 4 million square feet and Austin more than 3 million. Nationwide, 64.2 million square feet was under construction, below the 10-year average of 90 million square feet. Projects illustrating activity in the three markets include Gates of Prosper, owned by Blue Star Land with Lincoln Property Company involved in planning and development in the Dallas area; Texas Heritage Marketplace, an approximately 800,000 SF project by Houston-based NewQuest in Katy; and The Row, a mixed-use development by Presidium in southeast Austin with retail planned as part of the project.
M&A: Ares completes $1.7B take-private of Whitestone REIT. Ares Management completed its $1.7 billion all-cash acquisition of Houston-based Whitestone REIT on July 14, 2026, paying $19 per share. Whitestone CEO David K. “Dave” Holeman led the company through the transaction. At announcement, Whitestone’s portfolio comprised 56 retail properties totaling approximately 4.9 million square feet; Ares reported 54 properties totaling approximately 4.8 million square feet at closing. Ares Real Estate leaders include Julie Solomon, head of Ares Real Estate, and David Roth, global head of real estate strategy. The deal was not subject to a financing condition. Citigroup served as Ares’ lead financial adviser and financing provider, with Morgan Stanley also advising and providing financing; Kirkland & Ellis was Ares’ legal adviser. Whitestone’s advisers were BofA Securities and JLL Securities, with Bass, Berry & Sims as legal counsel. Whitestone is now privately held and no longer trades on the NYSE.
ACQUISITION: Nuveen buys 172,526 SF Coral Landings III in Broward County for $46.3M. Nuveen acquired Coral Landings III, a 172,526 SF retail center spanning Coral Springs and Margate, Florida, from Sterling Organization for $46.3 million. The 23.2 acre property is anchored by Aldi and includes HomeGoods, Five Below, Sonic, Tijuana Flats, Tropical Smoothie Cafe and Bonefish Mac’s Sports Grille. Sterling acquired the center for $37.4 million in 2022. Nuveen’s William Huffman and Sterling CEO Brian Kosoy were present at the acquisition.
ACQUISITION: Medipower pays $115M for 558K SF Grocery-Anchored Portfolio across four States. Medipower acquired a seven-property, 558,000 SF grocery-anchored portfolio for $115 million from Utah Retirement Systems. The portfolio spans Georgia, South Carolina, Virginia and New Jersey and includes Hickory Flat Village (Canton, Ga.), Deshon Plaza (Stone Mountain, Ga.), Flat Shoals Crossing (Decatur, Ga.), Cascade Corners (Atlanta), The Plaza at Carolina Forest (Myrtle Beach, S.C.) and Kroger Plaza (Virginia Beach, Va.) JLL Capital Markets represented the seller and arranged acquisition financing for Medipower. The sale team included Jim Hamilton, Brad Buchanan, Andrew Kahn, Anton Serafini, Kevin O’Hearn, J.B. Bruno, Jose Cruz, Jordan Lex, Daniel Naughton and Tom Kolarczyk. The financing team included Gregg Shapiro, Jim Cadranell, Jon Mikula, Hunter Goldberg, Kelsey Bawcombe, Streeter Simmons and Caleb Henry.
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