Retail

New Craft Brewery to Open in Fishers, Indiana

by Kristin Harlow January 31, 2018

FISHERS, IND. — Sun King Brewery has unveiled plans for the development of a new specialty production craft brewery and taproom at The Yard at Fishers District in Fishers, a northern suburb of Indianapolis. The 13,000-square-foot brewery is slated to open in late spring 2019. Sun King will focus on developing handcrafted, specialty beers that continue to experiment with different ingredients, styles and methods at the new brewery. The new location will be capable of producing approximately 5,000 barrels of beer per year. Customers will be able to purchase carryout beer and taste samples at the two-level brewery, which will also feature a 3,000-square-foot rooftop patio. Thompson Thrift Retail Group is the developer and landowner of The Yard at Fishers District.

January 31, 2018

Loans Northeast Pennsylvania Retail

Cole Schotz PC Advises Procida Funding for $56M Loan to Restore Philadelphia Met Opera House

by Amy Works January 30, 2018

PHILADELPHIA — Cole Schotz PC has advised Procida Funding on a $56 million loan for the restoration of the Philadelphia Metropolitan Opera House, which originally opened in 1908 at 858 N. Broad St. in Philadelphia. Procida Funding provided the financing in conjunction with Fulton Bank, PIDC and an equity investment from New Orleans-based Enhanced Capital. The financing will help reopen the 39,200-square-foot theater as a Philadelphia concert venue for Live Nation. Developer Eric Blumenfield anticipates an opening as early as December. The restoration will include renovating the entire building, including the roof, ceilings, floorings, lighting, proscenium and exterior masonry. Leo Leyva, Rab Nalavala, Alan Rubin and Danielle Pasquariello of Cole Schotz advised on the financing.

January 30, 2018

New York Northeast Office Retail

Children’s Museum of Manhattan Acquires Former Church in Manhattan for $45M, to Relocate in 2021

by Amy Works January 30, 2018

NEW YORK CITY — Children’s Museum of Manhattan has acquired a new property located at 361 Central Park W. in Manhattan’s Upper West Side. 361 Central Park West LLC sold the property for $45 million. Children’s Museum of Manhattan plans to move its primary operations at 212 W. 83rd St. to the new location, which is a landmarked structure and a former church designed by Carrère & Hastings. The museum plans to open at the new location in 2021. Andrew Chonoles, Ross Yustein, Christopher Terry and Michael Scharpf of law firm Kleinberg Kaplan represented the museum in the acquisition.

January 30, 2018

Kentucky Retail Southeast

Albanese Cormier Holdings Acquires Two Shopping Centers in Kentucky Totaling 425,930 SF

by Camren Skelton January 30, 2018

NEWPORT, KY. — Albanese Cormier Holdings has acquired a two-property shopping center portfolio in Newport for an undisclosed price. The adjacent properties — Newport Plaza and Newport Shopping Center — are located at 82 Carothers Road and 1727 Monmouth St., respectively. Newport Plaza is home to tenants including Dollar Tree, Fresh Thyme, Planet Fitness and Verizon Wireless. The 264,196-square-foot Newport Shopping Center houses tenants such as Aaron’s, ACE Hardware, Defender Direct, Dollar General, Family Dollar and Taco Bell. Scott Katz of Midland Retail arranged the transaction on behalf of the undisclosed seller.

January 30, 2018

Midwest Missouri Retail

CBL & Associates to Renovate Mid Rivers Mall in St. Peters, Missouri

by Kristin Harlow January 30, 2018

ST. PETERS, MO. — CBL & Associates Properties Inc. will renovate its Mid Rivers Mall in St. Peters, about 30 miles west of St. Louis. A new H&M store will open at the property this fall, requiring three other retailers to relocate to different spaces within the mall. H&M is a women’s and men’s apparel store. Claire’s will move to a 1,250-square-foot store on the lower level. Justice will relocate to a 4,100-square-foot space on the lower level near Dillard’s and Lane Bryant will move to a 5,000-square-foot space on the lower level in the Dillard’s wing. Next month, a pop-up shop will open at the mall, enabling local boutiques to try their business in a mall setting for one week at a time. Other interior projects at the mall include replacing the escalators, improving the elevators and installing new digital directories. All interior projects are slated for completion by this summer. As for exterior improvements, the parking lot will be upgraded to include LED lighting and 24 more poles will be installed. The majority of the lot will be resurfaced this year and the remaining portion will be completed in 2019.

January 30, 2018

Retail Texas

Ainbinder Signs Four Tenants to Anchor 180,000 SF Retail Center in Dallas

by Taylor Williams January 30, 2018

DALLAS — The Ainbinder Co., the developer of High Point Crossing retail center in northeast Dallas, has signed four anchor tenants to the 180,000-square-foot development. Academy Sports + Outdoors, Marshalls, Burlington and Five Below will serve as anchor tenants at the property, which is under construction and expected to open in the fall. Jeff Kittleson, Robert Aycock and Andrew Aycock of CBRE represented The Ainbinder Co. in the lease negotiations.

January 30, 2018

Retail Texas

Venture Investment Brokers Sale of 8,700 SF Retail Center in Metro Dallas

by Taylor Williams January 30, 2018

LEWISVILLE, TEXAS — Venture Investment Sales has brokered the sale of an 8,700-square-foot retail center in Lewisville. The property’s location at 5040 State Highway 121 is adjacent to Grandscape, a 400-acre mixed-use development. Tenants include T-Mobile, Chipotle Mexican Grill and Texas Direct Auto. John Zikos, Jonathan Cooper and Don Miller of Venture represented the seller. A local family trust purchased the asset for an undisclosed price.

January 30, 2018

Retail Texas

NewQuest Unveils Plans for Phase II of Katy Grand in Metro Houston

by Taylor Williams January 30, 2018

KATY, TEXAS — NewQuest Properties has unveiled plans for the Phase II expansion of Katy Grand, a 21.7-acre, cinema-anchored retail development in Katy. Phase II will deliver 36,000 square feet of retail and restaurant space on 7.4 acres in late fall. Leases with three new tenants — Japanese book retailer Kinokuniya, Taiwanese eatery 85C Bakery Café and Kula Revolving Sushi Bar — have already been signed.

January 30, 2018

Features Retail Top Stories

Shipping Containers Offer a Creative New Venue for Retailers and Restaurants

by Katie Sloan January 30, 2018

What’s that thing everyone always says about millennials? That they crave new experiences, novel environments and locally produced items that have a story — or at least a little substance — behind them? Yes, that’s it. Ask and ye shall receive. They’ll even ship this request to you. Well, maybe not right to your door, but straight off a boat and into your nearest underused plot of viable land. We’re talking shipping containers, which have become the new avant-garde approach to traditional retail experiences. “I think any time you can find a new creative use for an item or a space it is going to capture interest,” says Hartley Rodie, who is developing the Churchill, a 16-container shopping and dining project on North 1st Street in Phoenix that is scheduled to open in fall 2018. Being a millennial himself, Rodie and his partner, Kell Duncan, both 29, were inspired to undertake this new project after examining what was missing — both within their own lives and within their community. “Neither of us felt fulfilled by our areas of focus, so the question became ‘what’s next?’” he says. “I knew whatever it was going to be, for me, it was important to …

January 30, 2018

California Retail Western

NKF Capital Markets Brokers Sale of 75,630 SF Shopping Center in San Francisco

by Nellie Day January 29, 2018

SAN FRANCISCO — NKF Capital Markets has arranged the sale of Diamond Heights Shopping Center, a 75,630-square-foot retail center in San Francisco. Nicholas Bicardo, Brandon Rogoff and Bryce Holman of NKF Capital Markets arranged the transaction on behalf of the private seller. Donahue Schriber acquired the asset for an undisclosed price. Safeway anchors the center, which is also home to Walgreens, Bank of America and the United States Postal Service.

January 29, 2018

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