Retail

Nashville’s Retail Market is Growing Leaps and Bounds, Both Inside and Out

by John Nelson March 27, 2017

Just like the hit show, “Nashville,” Nashville’s retail market has more than one storyline in play and all of them intertwine to create a tapestry that showcases the retail development in our city. You don’t have to look too hard around downtown Nashville to see the redevelopment surge that is bringing retail as part of mixed-use and traditional developments to this market. Greenfield development in suburban nodes is also capturing the spotlight, albeit a smaller one, as a direct result of the intown growth that is driving up land and construction costs to a level that puts available space out of reach for many retailers. Those that can’t absorb the risk or afford the rent in downtown are looking to Nashville’s most popular suburbs for reasonable storefront alternatives. Mixed-Use Downtown Downtown Nashville redevelopment is a hit right now with no end in sight, which is welcomed news for well-capitalized, specialty retailers. Because of the continually rising costs of land and construction, redevelopment and mixed-use projects are the only feasible entry points for retailers in this market. One of the most significant projects highlighting downtown’s potential is the 6.2-acre redevelopment of the Nashville Convention Center: Fifth + Broadway. A high-quality, mixed-use …

March 27, 2017

Colorado Retail Western

Hutton Commences Construction of Pueblo Crossing Shopping Center in Colorado

by Nellie Day March 24, 2017

PUEBLO, COLO. — Hutton has started construction of a new phase of Pueblo Crossing, a shopping center just south of Colorado Springs. The center is situated on North Elizabeth Street. A 35,000-square-foot Dick’s Sporting Goods will anchor the center, which will also feature a 10,000-square-foot Ulta store, a 5,000-square-foot Maurice’s clothing store and an outparcel building with additional retailers that haven’t yet been announced. The newest phase of Pueblo Crossing will be situated on 8.2 acres. It will sit adjacent to the newly opened Dillon Drive Interstate interchange and the Colorado Department of Transportation office, which is currently under construction. Hutton plans to deliver the first phase of the project early this spring.

March 24, 2017

Louisiana Retail Southeast

Vitorino Group Brokers Sale of 4,949 SF Retail Center in Thibodaux, La.

by Taylor Williams March 24, 2017

THIBODAUX, LA. — Vitorino Group, a Texas-based investment sales firm, has brokered the sale of Acadia Shopping Center, a 4,949-square-foot strip center located at 612 N. Canal Blvd in Thibodaux, about 60 miles southwest of New Orleans. Anchored by WalMart and Lowe’s, the property was 100 percent occupied at the time of sale. Bryce Gissler of Vitorino Group represented the seller, a Washington-based private investor. Other terms of sale were not released.

March 24, 2017

Loans North Carolina Retail Southeast

Kennedy Funding Arranges $1.1M Loan for Durham-Area Steakhouse

by Taylor Williams March 24, 2017

MEBANE, N.C. — Kennedy Funding Financial LLC, a New Jersey-based private lender, has arranged a two-year, $1.1 million working capital loan for a restaurant opening soon in the Durham area. Located at 401 E. Center St. in Mebane, a town about 20 miles west of Durham, the property spans 11,000 square feet. The borrower, Mebane Steakhouse LLC, will also own and operate the restaurant.

March 24, 2017

California Retail Western

SCA Architecture Completes $9.3M Renovation of Gateway Marketplace in Chula Vista

by Nellie Day March 24, 2017

CHULA VISTA, CALIF. — SCA Architecture (formerly known as Smith Consulting Architects), a San Diego-based architectural firm, has completed the planning, design and construction of a repositioning at Gateway Marketplace, located at Fourth Avenue and C Street in Chula Vista. Brixton Capital is the developer of the $9.3 million remodeling project. Situated on an 8.8-acre lot, the project consisted of renovating an abandoned Target building in an existing neighborhood. The former Target store was divided into three tenant spaces. The front of the building was set back ten feet to allow for new, distinct tenant entries. Quick-serve grocery store and restaurant spaces were added to the center as well. Updated architecture and color schemes were used to update the center’s look. The existing site was enhanced with new landscaping, lighting, pedestrian walkways and a new gateway plaza. New tenants at the center include Party City, Smart & Final, Hobby Lobby and Aldi. AT&T, Little Caesar’s Pizza, Pho Hung Cali, iNails & Spa and other tenants are slated to open later this year. Scott Cairns served as principal-in-charge for SCA Architecture, with Norman Barrett as project designer and Dennis Seguban serving as project manager. Consultants included GSSI Structural Engineers as structural …

March 24, 2017

Retail Texas

Marcus & Millichap Negotiates Sale of 35,792 SF Retail Center in Brownsville

by Taylor Williams March 24, 2017

BROWNSVILLE, TEXAS — Marcus & Millichap has closed the sale of Sunrise Plaza, a 35,972-square-foot shopping center situated on 2.9 acres at 2451 Pablo Kisel Blvd. in the south Texas border town of Brownsville. At the time of sale, the property was 100 percent occupied by triple net leased tenants such as Mattress Firm, Nutrishop and Shenanigan’s Irish Pub. Philip Levy of Marcus & Millichap marketed the property on behalf the seller, an unspecified developer.

March 24, 2017

California Retail Western

Golden Corral to Open 12,936 SF Restaurant in Ontario

by Nellie Day March 24, 2017

ONTARIO, CALIF. — Progressive Real Estate Partners has arranged a 15-year lease with Golden Corral for a 12,936-square-foot restaurant at 1640 E. 4th St. in Ontario. Construction is slated to begin in April and the restaurant is projected to open in late 2017. Located in the Kmart-anchored Vineyard Freeway Center, the project is located near I-10, with an average daily traffic count of 237,000 cars passing by the location. Progressive Real Estate Partners’ Paul Su marketed the property and represented both Golden Corral and the lessor in the transaction. In addition to Kmart, the 163,000-square-foot center is also home to tenants including RadioShack and Domino’s Pizza. Coupled with the new Golden Corral, the landlord is embarking upon a renovation of the 60,000 square feet of shop space that will include enhanced facades, a new color scheme and parking lot renovations.

March 24, 2017

Retail Texas

Silver Group Arranges Sale of 43,000 SF LA Fitness in North Dallas

by Taylor Williams March 24, 2017

DALLAS — The Silver Group has arranged the sale of a single-tenant property occupied by LA Fitness, located at 13130 Preston Road, in Dallas. The 43,000-square-foot fitness center sits on 5.25 acres of land at Preston Road and the LBJ Freeway and is situated across the street from the old Valley View Mall, which is being transformed into a mixed-use development. The seller was an unnamed real estate investment trust, and the buyer was a Texas-based partnership formed to acquire the property. The Silver Group was the only broker involved with the sale.

March 24, 2017

Retail Texas

EDGE Brokers Sale of 22,461 SF Retail Property in The Colony, Texas

by Taylor Williams March 24, 2017

THE COLONY, TEXAS — EDGE Realty Capital Markets has brokered the sale of Service King The Colony, a 22,461-square-foot retail property located at the corner of Paige Road and Sam Rayburn Tollway in The Colony, a northern suburb of Dallas. Brandon Beeson and Stroud Arthur of EDGE represented the seller, SK 5270 Memorial LP, a Texas-based firm. The sale price and the representative of the buyer, National Retail Properties LP, were not disclosed.

March 24, 2017

Nevada Retail Western

GTM Architects Collaborates on 17,700 SF Sugar Factory Location in Las Vegas

by Nellie Day March 24, 2017

LAS VEGAS — GTM Architects has completed design work with Sugar Factory American Brasserie at six new locations across the U.S., including its largest restaurant in Las Vegas. At 17,700 square feet on two levels, the Las Vegas location includes an indoor dining room plus two outdoor patios on both levels, a 14-seat mini-carousel leading to a private gazebo, a full service café, a bulk candy selection in the confectionary shop, and an upscale Chocolate Lounge spanning more than 3,000 square feet.

March 24, 2017

Newer Posts

Older Posts