Jump to …

Federal Realty, Agree Realty and NNN REIT Ramp Up 2026 Investment Activity
Kite Pivots Its Portfolio, Kimco Hits Small-Shop Occupancy Record and InvenTrust Targets the Sun Belt
Retail Real Estate Transactions Span Grocery-Anchored Centers, Malls and a $900M+ Store Portfolio Bid
Greenberg Gibbons Names David Schreiber Chief Investment Officer

According to Newmark’s 2Q26 U.S. Retail Market Conditions & Trends report, investors’ acquisition volume in retail real estate reached $19.1 billion in the second quarter, pushing first-half volume to $36 billion “and signaling the acceleration of capital flows into the sector.” Deals above $100 million are on track for their strongest year since 2018, Newmark said.

Kite Realty Generates More Than $1B in Proceeds From Noncore Property Sales and Pivots Toward Grocery-Anchored and Mixed-Use

As part of a shift in strategy, retail and mixed-use REIT Kite Realty has generated more than $1 billion from the sale of 22 noncore properties since early 2025. “With each disposition, we reduced our exposure to lower-growth formats and at-risk anchors while concentrating the portfolio in grocery-anchored lifestyle and mixed-use assets,” president and CFO Heath Fear said on a recent earnings call. In the second quarter, which ended on June 30, Kite sold eight of the 22 properties, reaping gross proceeds of $314 million. As of June 30, the REIT owned stakes in 165 U.S. open-air centers and mixed-use properties encompassing 26.4 million square feet.

Kimco’s Small-Shop Occupancy Hits Record 92.9%

While anchor tenants generate lots of buzz, small-shop tenants are driving a buzzworthy occupancy level for grocery-anchored and mixed-use REIT Kimco. In the second quarter of fiscal year 2026, Kimco posted a record-high small-shop occupancy rate of 92.9%, CEO Conor Flynn said on an earnings call. That rate represented a quarter-over-quarter gain of 40 basis points and a year-over-year gain of 70 basis points. “We continue to see room for further occupancy gains as demand for smaller-format space remains exceptionally strong,” said executive vice president and COO David Jamieson. Kimco’s small-shop square footage totals 25.2 million, a spokesperson said. The REIT defines a small shop as any space measuring 10,000 square feet or less; the average small-shop tenant occupies roughly 2,500 square feet. The company's second quarter ended on June 30, when it owned stakes in 564 shopping centers and mixed-use properties comprising 100 million square feet of gross leasable area.

InvenTrust Targets Emerging Sun Belt Markets for Retail Acquisitions

Emerging Sun Belt markets are proving to be fertile acquisition ground for retail REIT InvenTrust Properties. On an earnings call this week, president and CEO DJ Busch said the REIT recently acquired one property each in three Sun Belt markets: Charleston, South Carolina; Greensboro, North Carolina; and Knoxville, Tennessee. InvenTrust’s purchase of the 95,000-square-foot Sweetgrass Corner retail center in the Charleston suburb of Mount Pleasant, South Carolina, was its fourth Charleston-area acquisition in less than two years, said Busch. “National and regional retailers are increasingly looking to emerging Sun Belt markets for expansion opportunities,” said InvenTrust executive vice president, COO, general counsel and corporate secretary Christy David. “Charleston, Greensboro and Knoxville are places where retailers want to grow, where consumers are moving and where owning high-quality assets fits our strategy.”

Brixmor Uses Operating Partnership Units for First Time in $70M Mayfair Acquisition

For the first time, retail REIT Brixmor used operating partnership units as currency for a property purchase. Like most publicly traded REITs, Brixmor holds its shopping centers through an operating partnership, with the public company acting as the partnership’s general partner, according to law firm Goodwin. This arrangement enabled Brixmor to recently buy Mayfair Shopping Center partly with OP units for $70 million. Long Island Business News identified the seller as Arlona LP. As of June 30, Brixmor’s five-year loan for the Mayfair acquisition had a balance of $30.5 million. Mayfair is a 221,000-square-foot grocery-anchored center on New York’s Long Island. Brixmor owns and operates a portfolio of nearly 350 open-air centers spanning about 63 million square feet.

OP units pay the same distributions as stock and eventually can be exchanged for shares, according to Goodwin. Until that swap occurs, the seller can defer capital gains taxes. On a recent earnings call, Brixmor president and CEO Brian Finnegan said the OP structure “reflects the importance of relationships” and “gives us another tool as we pursue disciplined external growth.” The “milestone” OP deal for Mayfair arose from a relationship that Brixmor had nurtured for eight years, he said.

Onyx Makes New $900M+ Bid for Portfolio of JCPenney Stores

A private equity firm is once again seeking to buy a portfolio of more than 100 leased JCPenney stores. This time around, Onyx Partners has offered $934 million for 117 stores owned by Copper Property CTL Pass Through Trust, Retail Dive reported. An Onyx spokesperson told Retail Dive that financing has been secured for the nearly 15.5 million-square-foot deal, which is expected to close on Sept. 20. The value of Onyx’s current retail real estate portfolio exceeds $500 million, according to the Boston Business Journal. “We’re very, very bullish on brick-and-mortar real estate, especially retail real estate,” Onyx owner and partner Anton Melchionda told the Boston Business Journal. In July 2025, Onyx agreed to purchase 119 JCPenney stores for $947 million, but the deal collapsed at the end of 2025. Copper Property was set up to acquire and sell 160 stores and six distribution centers from JCPenney as part of the retailer’s Chapter 11 bankruptcy case. As of July, JCPenney operated more than 650 stores in the U.S.

Henderson Park-Lowe JV Buys 1M-SF Plaza Bonita Mall for $201.5M

A joint venture formed by real estate investors Henderson Park and Lowe acquired the more than 1 million-square-foot Westfield Plaza Bonita mall in National City, California, a San Diego suburb. Unibail-Rodamco-Westfield sold the property for $201.5 million, the San Diego Union-Tribune reported. The new owners said they plan to upgrade the property and reposition it as “a dominant regional enclosed mall.” Tenants at Plaza Bonita, built in 1981 and spanning more than 78 acres, include Walmart, Macy’s, Target, JCPenney, Nordstrom Rack and AMC Theatres.

Three-Firm JV Buys 735K-SF Cleveland-Area Retail Center for $85.2M

A joint venture comprising Hendon Properties, Axiom Realty and Peaceable Street Capital bought the 734,999-square-foot Shoppes at Parma in the Cleveland suburbs. An affiliate of Allied Development sold the property for $85.2 million, a Hendon spokesperson told C+CT. Tenants include Walmart, Dick’s Sporting Goods, Burlington, Marc’s, Crumbl Cookies, Five Guys and Panera. The Shoppes at Parma is the fifth retail center purchased by the Hendon Properties Opportunity Fund, whose portfolio spans more than 1.3 million square feet.