Retail

Three Boutique Fitness Concepts Lease Space at Long Beach Exchange

by Nellie Day September 29, 2017

LONG BEACH, CALIF. — Burnham-Ward Properties, together with Burnham USA and Rockwell Capital, has signed three new fitness concepts at Long Beach Exchange, a retail and dining destination center in Long Beach. GritCycle, Ra Yoga and Orangetheory Fitness are joining the 266,000-square-foot property. Slated to open in spring 2018 and situated on 26 acres, the center will feature stores, shops, restaurants and two acres of communal open space. GritCycle will open a 3,000-square-foot indoor cycling studio; Ra Yoga will feature 3,400 square feet of yoga space; and Orangetheory Fitness will feature 3,200 square feet of boutique fitness space.

September 29, 2017

Colorado Loans Retail Western

NewMark Merrill Secures $62M Refinancing, Delivers 442,000 SF Retail Center in Longmont

by Nellie Day September 28, 2017

LONGMONT, COLO. — NewMark Merrill Mountain States has secured $62 million in refinancing and completed construction on Village at the Peaks, a 442,000-square-foot shopping center in Longmont. Village at the Peaks is over 90 percent leased to nearly 40 tenants including Whole Foods Market, Sam’s Club, Regal Cinemas, Gold’s Gym, Party City, Tuesday Morning, Bad Daddy’s Burger Bar, Ozo Coffee Co. and Fuzzy’s Taco Shop. The five-year development process involved a public/private partnership with the City of Longmont, and represents over $100 million in investment. Bank of the Ozarks provided original construction financing for the project. Joe Monteleone of Triad Capital Advisors arranged the refinancing on behalf of NewMark Merrill through Allianz Real Estate of America. Sandy Sigal, Sandra Kist and Allen Ginsborg of NewMarket Merrill oversaw the refinancing.

September 28, 2017

Retail Texas

Orangetheory Fitness to Open 25th Location in DFW Area

by Taylor Williams September 28, 2017

BURLESON, TEXAS — Orangetheory Fitness will open a 4,050-square-foot location at Burleson Commons, a grocery-anchored shopping center in the southern Fort Worth metro of Burleson. Owned by Cullinan Properties, the center is located at 1561 Wilshire St. This gym will be the company’s sixth location in the Burleson area and its 25th overall in the Dallas-Fort Worth (DFW) area. The opening is currently scheduled for mid-December.

September 28, 2017

Company News Northeast Pennsylvania Retail

Rue21 Emerges from Chapter 11 Bankruptcy

by Amy Works September 28, 2017

WARRENDALE, PA. — Teen clothing retailer rue21 has completed its financial restructuring and emerged from the Chapter 11 bankruptcy process. The Warrendale-based company began to close approximately 400 underperforming stores in April, and filed for Chapter 11 bankruptcy on May 15. Kirkland & Ellis LLP acted as rue21’s legal advisor, Rothschild Inc. acted as investment banker and financial advisor, and Berkeley Research Group acted as restructuring advisor throughout the process.

September 28, 2017

New Jersey Northeast Retail

Marcus & Millichap Facilitates $2M Sale of Shopping Center in Milford, New Jersey

by Amy Works September 28, 2017

MILFORD, N.J. — Marcus & Millichap has brokered the sale of Holland Center, a neighborhood shopping center located at 621-641 Milford Warren Glen Road in Milford. A private buyer acquired the asset for $2 million. Situated on 5 acres, the 10,777-square-foot property was fully occupied by six tenants at the time of sale. Derrick Dougherty, Mark Krantz and Shannon Bona of Marcus & Millichap represented the seller, while Mark Taylor, also of Marcus & Millichap, represented the buyer in the deal.

September 28, 2017

North Carolina Retail Southeast

The Shopping Center Group Unveils Retail Tenants for $53M Adaptive Reuse Project in Charlotte

by Camren Skelton September 28, 2017

CHARLOTTE, N.C. — The Shopping Center Group has unveiled the tenant lineup for the retail portion of One305 Central, a $53 million adaptive reuse development located approximately one mile northeast of Charlotte’s Uptown district. The developer, TriBridge Residential, has selected The Shopping Center Group to be the exclusive leasing representative for the retail portion of the project. The new tenants include: Yafo Kitchen, a fast-casual Mediterranean restaurant that will occupy 3,500 square feet; TRUE Crafted Hospitality Group, a fast-casual concept that will occupy 4,200 square feet and feature traditional diner fare; and Pilot Brewing Co., a local nano-brewery specializing in small-batch, experimental beer. Pilot Brewing’s nearly 1,900-square-foot space will include a tasting room. The retailers are expected to open next spring. In addition to retail, One305 Central includes 281 residential units. The first phase of the residential portion is 95 percent preleased and 85 percent occupied, and the second phase is slated for completion in October. The commercial building was originally built in the 1960s and 70s. Hood Architecture designed the updated commercial space, and Roper Construction served as the general contractor. TriBridge originally acquired the five-acre site in 2014 for $7.8 million.

September 28, 2017

California Retail Top Stories Western

Westfield to Open $1B Westfield Century City Redevelopment in Los Angeles on Tuesday

by John Nelson September 28, 2017

LOS ANGELES — Westfield Corp., a mixed-use developer based in Sydney, Australia, is opening its $1 billion redevelopment of Westfield Century City mall in the Century City district of Los Angeles on Tuesday, Oct. 3. Westfield expects the open-air development to have the majority of its more than 200 shops and restaurants open for the event, including a new three-level Nordstrom. The 1.3 million-square-foot development will also feature a remodeled, three-level Bloomingdale’s, a new two-level Macy’s and an Equinox fitness club and spa. The center’s new and existing dining options include Bibigo, California Pizza Kitchen, Chick-fil-A, Chipotle, Everytable, Lifehouse Tonics + Elixirs, Panda Express, Randy’s Donuts, See’s Candies, Shake Shack, Wexler’s Deli and the West Coast’s first Eataly, an Italian market concept that will open later in the month. Eataly will feature multiple restaurants, food and beverage counters, retail items and cooking classes. In addition to the department store anchors and existing AMC movie theater, new and existing retailers include Apple Store, Banana Republic, Disney Store, J. Crew, Kate Spade New York, Madewell, Microsoft, SUITSUPPLY, Tory Burch and Warby Parker. Westfield’s in-house design studio worked with Los Angeles-based designer Kelly Wearstler to redesign the project’s outdoor plazas, landscaped terraces and …

September 28, 2017

Retail Texas

Results Physiotherapy to Open Four Locations in Greater Houston

by Taylor Williams September 27, 2017

HOUSTON — Results Physiotherapy, a Tennessee-based physical therapy operator with more than 130 clinics across nine states, will soon open four new locations in the Houston area. The new clinics will be located at 2900 Weslayan St. in River Oaks; at Market Town Center in Sugar Land; at Town Square Shopping Center on the city’s west side; and at 4660 Beechnut St. in Meyerland. Jamie Weaver of EDGE Realty Partners represented Results Physiotherapy, which will now operate eight locations in the Houston area, in all lease negotiations. .

September 27, 2017

Retail Texas

Conn’s Home Plus to Open 45,000 SF Location in Killeen, Texas

by Taylor Williams September 27, 2017

KILLEEN, TEXAS — Conn’s Home Plus, a furniture and home appliances retailer based in The Woodlands, will open a 45,000-square-foot location in Killeen, roughly midway between Austin and Waco. The store will be situated within Wendland Plaza, a 192,322-square-foot retail center located at the corner of State Highway 190 and Fort Hood Street. Grant Gary and Dan Rebensdorf of The Woodmont Co. represented the landlord in the lease negotiations.

September 27, 2017

Mixed-Use Multifamily New York Northeast Retail

Greater Jamaica Development Selects Developer for 500,000 SF Mixed-Use Project in Queens

by Amy Works September 27, 2017

NEW YORK CITY — The Greater Jamaica Development Corp. has selected a joint venture between BRP Cos. and Wharton Properties to purchase and develop a site located at 90-02 168th St. in the Queens’ neighborhood of Jamaica. The open-air parking lot will become an approximately 500,000-square-foot development with more than 300 mixed-income residential units and more than 70,000 square feet of retail space. Construction is slated to begin in the second half of 2018.

September 27, 2017

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