FAT Brands to Acquire Johnny Rockets Restaurant Chain for $25M

LOS ANGELES — Fresh. Authentic. Tasty. (FAT) Brands has agreed to purchase the Johnny Rockets restaurant chain from an affiliate of Sun Capital Partners for $25 million. The deal will be funded through cash on hand and proceeds generated from FAT’s securitization facility. The transaction is slated to close in September.With the acquisition of Johnny Rockets, FAT Brands will have more than 700 franchised and company-owned restaurants around the globe with annual system-wide sales …

August 13, 2020Acquisitions, California, Company News, Restaurant, Retail, Western

Hanley Investment Negotiates $3.8M Sale of Four-Tenant Retail Building in Inland Empire

LAKE ELSINORE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant retail building within Lake Elsinore Marketplace, a shopping center in Lake Elsinore. Irvine-based Pacific Castle sold the asset to a Torrance-based private investor for $3.8 million.Built in 2006 at 29261 Central Ave., the 7,203-square-foot pad building is fully occupied. Tenants include Navy Federal Credit Union, iBrows Threading Salon, Submarina and Juice It Up!. Anchors at the …

August 13, 2020Acquisitions, California, Retail, Western

StreetLevel Investments Opens 250,000 SF Shops at Chisholm Trail Ranch in Fort Worth

FORT WORTH, TEXAS — Dallas-based developer StreetLevel Investments has opened the 250,000-square-foot Shops at Chisholm Trail Ranch retail power center in Fort Worth. Specific stores that have opened at the center, which is 90 percent leased, include Ross Dress for Less, Old Navy, Ulta Beauty, Five Below, Tuesday Morning, AT&T, Sprint and others. Restaurants now open include Chick-fil-A, Whataburger and MOD Pizza. The 40,000-square-foot Studio Movie Grill is expected to open at the end of …

August 13, 2020Development, Retail, Texas

Ohio’s Deerfield Towne Center to Welcome Three New Tenants

MASON, OHIO — Deerfield Towne Center, a shopping center in Mason near Cincinnati, is set to welcome three new tenants. COhatch is a coworking, meeting and social space with locations in Ohio and Indiana. AKT is a fitness studio that combines interval, strength and conditioning training with dance. Condado Tacos is a Mexican restaurant with a build-your-own taco concept and an extensive selection of tequilas and margaritas. The Columbus-based restaurant has expanded throughout the Midwest and …

August 13, 2020Leasing Activity, Midwest, Ohio, Retail

Ostler Holding Sells Family Dollar-Occupied Retail Property in Helper, Utah

HELPER, UTAH — Ostler Holding Limited Company of Utah LLC has completed the disposition of a retail building located at 610 US-6 in Helper. An in-state limited liability company acquired the asset for $1.3 million.Built in 2019 on 1.4 acres, the property features 8,320 square feet of retail space. Family Dollar occupies the building on a double net lease with 8.5 years remaining on the term.Drew Isaac and James Rassenfoss of Marcus & Millichap represented the seller in the …

August 12, 2020Acquisitions, Net Lease, Retail, Utah, Western

CTO Realty Sells Retail Property Leased to Convenience Store Chain Wawa in Jacksonville for $7.1M

JACKSONVILLE, FLA. — CTO Realty Growth has sold a 6,267-square-foot retail property leased to Wawa in Jacksonville for $7.1 million. The property was delivered in 2017 and features gasoline pumps. Wawa has 17 years remaining on its lease. The asset sits on 2.2 acres at 4866 Gate Parkway, 10 miles southeast of downtown Jacksonville and near St. Johns Town Center. Brad Peterson, Michael Brewster and Joseph Naas of JLL represented the seller in the transaction. An undisclosed private investor …

August 12, 2020Acquisitions, Florida, Retail, Southeast

Trademark, MetroNational Begin Redevelopment of Houston’s 1.7 MSF Memorial City Mall

HOUSTON — Fort Worth-based Trademark Property Co. and owner-operator MetroNational have begun the redevelopment of the 1.7 million-square-foot Memorial City Mall in Houston into a mixed-use destination. The project began on Tuesday with the demolition of the building formerly occupied by Sears, which was the mall’s original anchor tenant beginning in 1966. Gensler and Stantec are leading the project’s design efforts. Specific uses for the completed redevelopment have not yet been …

August 12, 2020Development, Retail, Texas

Vista Acquires Two Office, Retail Properties Totaling 30,061 SF Near Houston

CLEAR LAKE, TEXAS — Vista Cos., a Houston-based development and management firm, has acquired two office and retail properties totaling 30,061 square feet in the Clear Lake area, located on the city’s southeast side. The assets had a combined occupancy rate of 95 percent at the time of sale. James Bell of Marcus & Millichap represented the seller, Visionary Investors Ltd., in the transaction. Frost Bank provided acquisition

August 12, 2020Acquisitions, Office, Retail, Texas

Simon Property Group Seeks to Acquire Distressed Retailers, Create Value

INDIANAPOLIS — During its second-quarter earnings call on Monday, Simon Property Group (NYSE: SPG) said it is “capitalizing on various value-creating opportunities.” Sparc Group, a joint venture between Simon and Authentic Brands Group, made bids to acquire bankrupt retailers Brooks Brothers and Lucky Brand. Brooks Brothers has selected Sparc as the winning bidder with a $325 million offer. Since Sparc is buying the brands out of bankruptcy, it is acquiring the inventory at or below cost, …

August 12, 2020Indiana, Midwest, Retail

Sour Patch Kids Opens 3,300 SF Flagship Store in New York City

NEW YORK CITY — Sour Patch Kids has opened a 3,300-square-foot flagship store for children at the corner of Bond Street and Broadway near the SoHo shopping district in New York City. IT’SUGAR, a retailer specializing in candy and similar confections and subsidiary of BBX Sweet Holdings LLC, will operate the store. In addition to offering a range of merchandise, the store will also feature entertainment activities for children, including the making of candy mix, posing for photos with Sour …

August 12, 2020Leasing Activity, New York, Northeast, Retail