BOSTON — Marcus & Millichap has brokered the $88.5 million sale of a portfolio of 31 single-tenant retail properties that are located in various markets throughout the Northeast. The addresses of the standalone properties, which are all net leased to automotive services provider Town Fair Tire, were not disclosed, but they comprise locations in Connecticut, Massachusetts, New Hampshire, Maine, New York, Rhode Island and Vermont. Town Fair Tire has 16 years remaining on the leases at each location. James Koury and Alex Quinn of Marcus & Millichap, in conjunction with Dan Plotkin of Northeast Retail, represented the seller, the estate of Town Fair Tire founder Neil Mellen, in the transaction. Koury and Quinn also procured the buyer, Orion Buying Corp.
LAKE GROVE, N.Y. — Regional grocer Wegmans Food Markets will open a 101,000-square-foot store in Lake Grove, a hamlet on Long Island. The store, which will be the grocer’s first on Long Island, will be located at 3270 Middle Country Road and has a grand opening date of Wednesday, Feb. 26. Wegmans expects to employ about 500 people at the store on full- and part-time bases.
KENNESAW, GA. — JLL Capital Markets has arranged the $63.5 million sale of Cobb Place, a 335,190-square-foot shopping center in Kennesaw. Jim Hamilton, Brad Buchanan, Andrew Kahn and Anton Serafini of JLL represented the seller, Savannah, Ga.-based Wicker Park Capital Management, in the transaction. The buyer was Miami-based Shaked Acquisitions. Located about 27 miles northwest of Atlanta, the shopping center is historically the top destination in the region for furniture and home-centric retailers, according to JLL. The longstanding anchor list includes Ashley Furniture HomeStore, American Signature Furniture, DSW, Cost Plus World Market, Hobbytown, Bassett Furniture, Natuzzi and BrandsMart USA.
LOMBARD, ILL. — The Boulder Group has brokered the $4.8 million sale of a 10,682-square-foot restaurant property net leased to P.F. Chang’s in the Chicago suburb of Lombard. The building is located at 2361 Fountain Square Drive. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based real estate investor. The buyer was a real estate investment trust. P.F. Chang’s has operated at the location since 2000.
SEATTLE — Nordstrom Inc. (NYSE: JWN) has signed a definitive agreement with the Nordstrom family and Mexican omnichannel retailer El Puerto de Liverpool SAB de CV (Liverpool) in a deal that will take the fashion department store giant private. The all-cash transaction is valued at $6.25 billion. Erik, Pete and Jamie Nordstrom, along with other members of the Nordstrom family, and Liverpool plan to acquire all the outstanding common shares of Nordstrom that they do not already beneficially own. The deal would give the Nordstrom family a majority ownership stake (50.1 percent) in the Seattle-based retailer, with Liverpool owning 49.9 percent of the company. “For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best,” said Erik Nordstrom, CEO of Nordstrom, in a prepared statement. “Today marks an exciting new chapter for the business. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future.” Under the terms of the agreement, Nordstrom common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold, which represents a premium of approximately 42 percent to the unaffected closing common …
BOSSIER CITY, LA. — The Cordish Companies has set the opening date for its $270 million Live! Casino & Hotel Louisiana — Thursday, Feb. 13, pending approval from the Louisiana Gaming Control Board. The Baltimore-based company launched bookings at the Bossier City hotel last Friday, almost exactly a full year after breaking ground. Additionally, tickets are now on sale for a slate of shows/concerts at the development’s Event Center at Live! Situated along the Red River near Shreveport, La., the Live! Casino & Hotel Louisiana will feature more than 47,000 square feet of gaming space; a sportsbook for live betting on sporting events; an upscale 550-room hotel with a resort-style pool and fitness center; 25,000-square-foot events center; structured and surface parking; a 31-site RV park; and 30,000 square feet of dining and entertainment venues, including Cordish brands Sports & Social, PBR Cowboy Bar and Luk Fu, as well as Ridotto Grand Café and The Prime Rib steakhouse.
MANDEVILLE, LA. — PJ’s Coffee plans to open 12 new locations in the metropolitan Atlanta area over the next seven years. The Peach State currently has a PJ’s Coffee location in Greensboro and construction will soon begin for its next one in Rome. The Mandeville, La.-based coffeeshop chain has more than 185 locations operating systemwide and more than 100 in the development pipeline. “Our expansion into Atlanta represents a game-changing opportunity to share PJ’s unique flavors with a vibrant community that values Southern hospitality and exceptional coffee,” says Lory Schwartz, franchise development manager of PJ’s Coffee. “The city’s dynamic economy, strong coffee culture and affinity for innovation make it the perfect place for our next chapter of growth.”
DOVE CREEK, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a retail property located at 468 US-491 in Dove Creek. The asset traded for $1.4 million. Family Dollar and Dollar Tree currently occupy the 10,500-square-foot asset. Peter Sengelmann of Pinnacle Real Estate Advisors represented the buyer in the transaction.
OAK BROOK, ILL. — Oak Brook-based Pine Tree has received a $247 million loan for the refinancing of a six-property shopping center portfolio acquired earlier this year in partnership with a state pension fund. Bill Barry and Bill Stewart of Draper & Kramer Inc. arranged the loan through New York Life Real Estate Investors. The properties are located in Florida, Arizona, Oregon and Ohio. Anchor tenants include 13 TJX concepts, Nordstrom Rack, Ulta Beauty, Target and Dick’s Sporting Goods. Also included are several owned grocery stores, including Kroger, The Fresh Market and New Seasons Market.
EDEN PRAIRIE, MINN. — Seven new retail tenants have opened or are coming soon in 2025 at Eden Prairie Center, a 1.4 million-square-foot retail property in the Twin Cities suburb of Eden Prairie. JLL manages the asset, which features more than 100 shops and restaurants. Now open seasonally, Northwoods Boutique offers seasonal products, including arts, crafts, handmade items, new and vintage décor, furniture, home décor and holiday décor. The 4,470-square-foot boutique is located on the lower level near Target and DSW. The Makers Den is a one-stop shop offering 3D print products, services and design classes for all ages. The 1,581-square-foot print shop is owned and operated by former schoolteacher Phillip Sexton and is located on the upper level near AMC. Gyu Mai Japanese BBQ/Ichiddo Ramen is a dual-concept Asian eatery. The 7,996-square-foot, street-front space will be divided into two restaurants on the lower level of the entertainment wing. Miniso is a variety store chain that specializes in household and consumer goods, including cosmetics, stationary, toys and kitchenware. The Eden Prairie location, opening in January, will be the second franchise store in Minnesota at 3,530 square feet and located in the upper level of Center Court. The U.S. Army Recruiting …
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