Hilco Brokers Sale of 134-Acre Development Site Near Denver International Airport

AURORA, COLO. — Hilco Real Estate has arranged the acquisition of approximately 134 acres of vacant development land located at the southeast corner of East 64th Avenue and Piccadilly Road in Aurora. Hilltop at DIA purchased the property, which is just south of Denver International Airport, for $18.1 million. The asset was acquired through a bankruptcy sale.Hilltop at DIA plans to develop a master-planned community, dubbed Avelon, on the site. The community would include hospitality, …

January 18, 2022Colorado, Development, Multifamily, Restaurant, Retail, Western

Vegas Shows Resilience with Strong Economic Growth in Retail

By Jeffrey Mitchell, Principal Broker, Mountain West Commercial Real EstateLas Vegas experienced the second largest unemployment rate at the start of the COVID-19 pandemic in April 2020. Since then, the Las Vegas Metro has come a long way in recovering economically. It continues to see growth, particularly in the retail sector.Some key factors as to why Las Vegas has been on a continued trajectory of growth include the migration of residents, capital from across the country (with …

January 18, 2022Market Reports, Nevada, Retail, Western, Western Market Reports

IPA Negotiates $18M Sale of Shopping Center in Pennsauken, New Jersey

PENNSAUKEN, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $18 million sale of The Point at Pennsauken, a 109,217-square-foot shopping center in Southern New Jersey. Anchored by convenience store Wawa, the property was 100 percent leased at the time of sale. Brad Nathanson of IPA represented the seller, WRDC, in the transaction and procured the buyer, Florida-based Select Properties

January 18, 2022Acquisitions, New Jersey, Northeast, Retail

Younger Partners Buys 96,948 SF Shopping Center in Prosper, Texas

PROSPER, TEXAS — Dallas-based Younger Partners has purchased The Shops at Prosper Trail, a 96,948-square-foot shopping center located northeast of Dallas. Shadow-anchored by Kroger, the property was 98 percent leased at the time of sale. Adam Howells of JLL represented the seller, MQ Development Co., in the transaction. Micah Ashford, Moody Younger and Kathy Permenter represented Younger Partners on an internal

January 17, 2022Acquisitions, Retail, Texas

SRS Brokers $4.5M Sale of Shopping Center in Valley, Alabama

VALLEY, ALA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $4.5 million sale of Shops at Valley, a 28,000-square-foot shopping center in Valley. Boris Shilkrot of SRS represented the seller, OSCI Properties, in the transaction. The buyer, Prudent Growth Partners LLC, was self-represented in the transaction.The shopping center is shadow-anchored by a Walmart Supercenter and fully occupied by tenants including Ace Hardware, Workout Anytime, H&R Block, …

January 17, 2022Acquisitions, Alabama, Retail, Southeast

NRF Supports Supreme Court Decision to Halt Vaccine Mandates for Non-Healthcare Related Businesses

WASHINGTON, D.C. — The National Retail Federation released a statement on Thursday, Jan. 13 saying the organization agreed with the U.S. Supreme Court’s decision about vaccine mandates. The Supreme Court on Thursday blocked the Biden administration from passing a bill that would require employees at large private companies to either get the vaccine or get tested regularly for COVID-19, as well as wear masks in the workplace. The Biden administration’s vaccine mandate would require …

January 17, 2022District of Columbia, Retail, Southeast

Barstool Sports Opens 8,500 SF Sports Bar in Chicago’s River North

CHICAGO — Barstool Sports has opened a new sports bar at 14 W. Hubbard St. in Chicago’s River North. This is the first sports bar for Barstool Sports, which is a brand founded by Dave Portnoy and owned by Penn National Gaming (NASDAQ: PENN). The 8,500-square-foot space was formerly home to Henry’s Swing Club. DynaProp Development Corp. owns the property. Michael Weber and Ian Feinerman of @properties Commercial represented SBH Chi LLC, an entity affiliated with Stanton & Bowery …

January 17, 2022Illinois, Leasing Activity, Midwest, Restaurant, Retail

Weiss Development Sells Brentwood Shopping Center in Los Angeles for $30M

LOS ANGELES — Weiss Development has completed the disposition of Brentwood Shopping Center, a retail property located at 11674-11690 San Vicente Blvd. in Los Angeles. Fields Holdings acquired the asset for $30 million in an off-market transaction.Tenants at the 14,789-square-foot center include Chipotle, Juice Crafters, Planet Beauty, Juan Juan Salon, Coffee Bean & Tea Leaf, Harry’s Wine and Spirits, Winston Pies and Claudio D’Italio.Bill Bauman and Kyle Miller represented the …

January 14, 2022Acquisitions, California, Restaurant, Retail, Western

Progressive Real Estate Negotiates $1.7M Sale of Development Site in Hemet, California

HEMET, CALIF. — Progressive Real Estate Partners has negotiated the sale of a 3.3-acre commercial land parcel in Hemet. Sater Hemer LLC acquired the property from an undisclosed seller for $1.7 million.The buyer plans to develop a gas station, car wash and drive-thru restaurant on the site, which is located at the northeast corner of Florida and Soboba avenues. Neither a timeline nor specific plans have been released yet.Chris Lindholm of Progressive Real Estate Partners represented …

January 14, 2022California, Development, Retail, Western

St. Joe Co. Breaks Ground on 350,000 SF Shopping Center in Panama City Beach, Florida

PANAMA CITY BEACH, FLA. — St. Joe Co. has broken ground on Watersound West Bay Center, a 350,000-square-foot shopping center development located on an approximately 110-acre site in Panama City Beach. The project will include a mix of retail, restaurant, office and medical space. Site work on Watersound West Bay Center is underway, with vertical construction slated to begin in the fall.St. Joe Co. plans to build the project to feature golf cart and pedestrian connectivity. Other plans …

January 13, 2022Development, Florida, Retail, Southeast