CBRE Investment Management JV Buys 1.1 MSF Retail Portfolio

April 30, 2026

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The joint venture with MCB Real Estate includes grocery-anchored properties in five states.

The largest property in the joint venture’s portfolio deal is Marketplace Shopping Center in Temple, Texas. *Image courtesy of CBRE Investment Management and MCB Real Estate*

CBRE Investment Management, on behalf of one of its funds, has acquired a seven-property grocery-anchored shopping center portfolio spanning five states in a joint venture with MCB Real Estate. The transaction price was not disclosed.

The properties total approximately 1.1 million square feet and are located in Hawaii, Louisiana, Minnesota, North Carolina and Texas. They feature a daily-needs tenant mix in centers anchored by leading national and regional grocers including H-E-B, The Fresh Market, Kroger, Harris Teeter and Safeway.

The assets were among 15 grocery-anchored retail properties held by Epic Real Estate Partners when MCB Real Estate acquired the Austin, Texas-based firm in January. Epic’s portfolio totaled just over 2 million square feet of retail space across 10 states, with a total portfolio value of more than $575 million. MCB acquired the properties and the operating company with 13 professionals and maintained Epic’s offices in Austin and Dallas.

CBRE Investment Management, a global real estate assets investment management firm with $155.2 billion in assets under management, said the portfolio expands its U.S. retail platform and positions the joint venture to capture market-to-market rent growth and sustained leasing demand at necessity-based centers. The firm noted that grocery-anchored retail continues to offer durable income, limited new supply and tenancy tied to non-discretionary consumer demand.

Portfolio highlights

The largest property in the joint venture’s portfolio deal is Marketplace Shopping Center, a 23.7-acre, 288,518-square-foot asset built in 1980 at 3008 S. 31st St. in Temple, Texas, anchored by H-E-B. Other tenants include Daiso, Kohl’s, Dollar Tree and Wingstop.

The other properties are:

Northlake Shopping Center, 165,086 square feet, 1858 N. Causeway Blvd., Mandeville, La., in the New Orleans market. The property was built in 1985 and spans 18.2 acres. Anchored by The Fresh Market, tenants include Total Wine, Five Below, PetSmart and Ross Dress for Less.
Eagen Town Centre, 153,233 square feet, 1276 Town Centre Drive, Eagen, Minn., in the Minneapolis-St. Paul market. The property was built in 1985 and spans 14.7 acres. Anchored by Cub Foods, other tenants include Dollar Tree, Planet Fitness and Sally Beauty.
Preston Trail Village, 152,150 square feet, 17194 Preston Road, Dallas. The property was built in 1982 and spans 13.9 acres. Anchored by Kroger, other tenants include Ogle School, The Color Studio & Salon and Trail Pet Hospital.
Riverview Shopping Center, 125,430 square feet, 5116 N. Roxboro St., Durham, N.C. The property was built in 1994 and spans 13.6 acres. Anchored by Harris Teeter, other tenants include Duke Health, BodyGames fitness center and Dogwood Bar & Grill.
Kauai Village Shopping Center, 4-831 Kuhio Highway, Kapaʻa, Hawaii. The property came online in 1989. Anchored by Safeway, other tenants include Starbucks, Subway and GNC.
Sprouts Crossing, 72,132 square feet, 316 Grapevine Highway, Hurst, Texas, in the Dallas-Fort Worth market. Completed in 1995, the property spans 7.5 acres. Anchored by Sprouts Farmers Market, other tenants include Ahoyama Sushi, Ovation Salons and O’Shea’s Pub & Grill.

MCB’s growth strategy

P. David Bramble, MCB’s co-founder & managing partner, said in prepared remarks forming a strategic joint venture partnership with CBRE IM reinforces the firm’s national growth strategy, including a focus on pursuing value-add and core-plus grocery-anchored retail opportunities across primary and secondary markets.

Bramble co-founded the Baltimore-based investment, development and property management firm with Peter Pinkard in 2007. The firm’s nationwide portfolio has assets under management of approximately $4 billion. MCB owns or manages approximately 22 million square feet with nearly 6 million square feet in its development pipeline. Last month, MCB secured a 162,000-square-foot commitment from Costco to be the first anchor tenant at its $2.8 billion, VIVA White Oak mixed-use development in Silver Spring, Md. Current plans for the 280-acre site call for construction of 3 million square feet of retail, office and life science space, as well as 5,000 residential units.

The firm has been growing its national footprint through acquisitions for more than a year. During that time, MCB has completed acquisitions and taken on management responsibilities for more than $1 billion in assets in various U.S. markets.

Prior to the acquisition of Epic, MCB and Centerbridge Partners formed a joint venture with the firm in October to purchase the 444,000-square-foot Northwoods Shopping Center in San Antonio, Texas. The retail center features H-E-B, Marshalls, Old Navy, Barnes & Noble, Ulta and Regal Theaters.

MCB formed a joint venture in August with Osiris Ventures to acquire the site of a former Century 21 department store in Brooklyn, N.Y., from ASG Equities for $47.5 million. The joint venture plans to invest $100 million to redevelop the property into Century Marketplace, a 95,000-square-foot, grocery-anchored retail center.