Retail

FCA Partners Adds Sephora to Tenant Roster at The Exchange Shopping Center in Buckhead

by John Nelson February 17, 2017

ATLANTA — Charlotte-based FCA Partners has added a new retailer to its tenant lineup at The Exchange, a 44,500-square-foot redeveloped shopping center located at Peachtree Road and Grandview Avenue in Atlanta’s Buckhead district. Sephora, a cosmetics retailer based in Paris, has signed on for 4,500 square feet of corner space adjacent to an upcoming YEAH! Burger. Other committed tenants at The Exchange include SculptHouse, Storico Fresco Alimentari, Kohler, Kale Me Crazy, Posh Nails and Cherry Blow Dry Bar — all of which are now open. Stephanie McCall of The Shopping Center Group, the exclusive leasing agent for the retail center, is currently in negotiations with additional tenants for the available 19,000 square feet of space remaining at The Exchange. Sephora is scheduled to open its doors this summer.

February 17, 2017

Midwest Nebraska Retail

TJ Maxx, Homegoods and Sierra Trading Post to Join Burlington at Shopping Center in Omaha, Nebraska

by Kristin Harlow February 17, 2017

OMAHA, NEB. — The Lerner Co. has completed the retenanting of the vacant Kmart building at Eagle Run Shopping Center in Omaha. Kmart closed its 93,000-square-foot store in December 2014. TJ Maxx and HomeGoods will open later this year. Sierra Trading Post will open before the first quarter of 2018. Plans were previously unveiled for a 40,000-square-foot Burlington store to open this March. The shopping center, located at 132nd and West Maple roads, totals 415,000 square feet. Other big-box retailers in the center include Baker’s Supermarket, Kohl’s, Petco and Office Depot.

February 17, 2017

Arizona Retail Western

Triumph Real Estate Acquires Two Shopping Centers in Metro Phoenix for $7M

by Nellie Day February 16, 2017

SURPRISE AND GLENDALE, ARIZ. — Canada-based Triumph Real Estate Investment Fund has acquired two shopping centers in metro Phoenix for $7 million. Acquisitions include the $4 million purchase of Triumph Bell West Ranch, a 20,225-square foot-shopping center located in Surprise; and the $3 million purchase of Triumph Glendale Crossing, a 10,595-square-foot retail center located in Glendale. Jon Rosenberg and Keri Davies of Levrose Commercial Real Estate/TCN Worldwide represented the buyer in the acquisition of Triumph Bell West Ranch from PWREO Bell & 303 LLC, and Triumph Glendale Crossing from Lawrence and Geyser. Danielle Davis of Levrose Commercial Real Estate/TCN Worldwide will handle leasing, and MODE Commercial Property Management has been selected to manage the properties.

February 16, 2017

New Jersey Northeast Retail

Cushman & Wakefield Arranges $19M Sale of Shopping Center in North Bergen, New Jersey

by Amy Works February 16, 2017

NORTH BERGEN, N.J. — Cushman & Wakefield has brokered the sale of a shopping center located at 2819 JFK Blvd. in North Bergen. A 1031 exchange buyer acquired the asset from an undisclosed joint venture partnership for $19 million. Aldi and Crunch Fitness anchor the 41,000-square-foot property, which was redeveloped in 2015. The center also includes a freestanding Sonic restaurant. Brian Whitmer, Andrew Merin, David Bernhaut, Gary Gabriel, Seth Pollack and Nick Karali of Cushman & Wakefield represented the seller and procured the buyer in the deal.

February 16, 2017

Retail Texas

Signorelli Begins Construction on Second Phase of Valley Ranch Town Center in New Caney

by Amy Works February 16, 2017

NEW CANEY, TEXAS — Signorelli Co. has started construction for the second phase of Valley Town Center, located at 11985 N. Grand Parkway East in New Caney. Slated to open in late 2017, the Phase II will bring 320,000 square feet of retail space to the 1.5 million-square-foot master-planned development. T.J. Maxx, Ross Dress for Less, Rack Room Shoes and PetSmart have preleased space at the new phase. Additionally, Cinemark Theatres is developing a NextGen all-recliner theater at the property. The 10-screen theater will be the first anchor for Valley Ranch Town Center Entertainment District.

February 16, 2017

Oklahoma Retail Texas

CBRE Facilitates Sale of 67,837 SF Retail Property in Enid, Oklahoma

by Amy Works February 16, 2017

ENID, OKLA. — CBRE has arranged the sale of Neilson Square, a shopping center located at 3322-3518 E. Owen K Garriott Road in Enid. Dallas-based Dunhill Partners acquired the 67,837-square-foot property from Louisville, Colo.-based IPS Neilson Square LLC for an undisclosed price. Anchored by Staples and Old Navy, the property was 94 percent occupied at the time of sale. Jason Little and Justin Brannon of CBRE represented the seller, while Basel Bataineh, also of CBRE, assisted with financial analysis and underwriting services for the transaction.

February 16, 2017

Georgia Retail Southeast

L Star Communities Breaks Ground on New Publix Near Savannah

by John Nelson February 16, 2017

POOLER, GA. — L Star Communities, master developer of the 2,588-acre Savannah Quarters development in Pooler, has broken ground on a new Publix store. The 46,000-square-foot supermarket will be situated on a 9.3-acre site in the southwest quadrant of Savannah Quarters at the corner of Blue Moon Crossing and Pooler Parkway, about 10 miles outside of downtown Savannah. The Publix will anchor a shopping center that features additional inline shop space and an outparcel bank, according to the site plan. Publix expects to open the new store by the end of November. The Lakeland, Fla.-based grocer has 1,138 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina and had more than $32 billion in sales in 2015.

February 16, 2017

Florida Retail Southeast

Franklin Street Brokers $7.5M Sale of Shopping Center in Metro Tampa

by John Nelson February 16, 2017

BRANDON, FLA. — Franklin Street has arranged the $7.5 million sale of Brandon Crossroads, a 30,182-square-foot shopping center located at 2050 Badlands Drive in Brandon, a suburb of Tampa. The center’s tenant roster includes Orangetheory Fitness, Amazing Lash, My Gym, Pinot’s Palette and Massage Envy. Joe Morrow of Franklin Street represented the seller, Kennedy Investments Inc., in the transaction. The buyer was Sauteur LLC, a private investor based in Gulfport, Fla. Ryan Derriman of Franklin Street led the leasing assignment for Brandon Crossroads on behalf of Kennedy Investments and elevated the property from 63 percent occupied to fully leased within three years.

February 16, 2017

Michigan Midwest Retail

PREIT to Replace Sears With Von Maur at Woodland Mall in Grand Rapids, Michigan

by Kristin Harlow February 16, 2017

GRAND RAPIDS, MICH. — PREIT has unveiled plans to replace the Sears set to close in Woodland Mall with a 90,000-square-foot Von Maur store. This will be the first location for Von Maur in the Grand Rapids area. The portion of the mall to be redeveloped, consisting of Von Maur and additional retail and restaurant space, will open in 2019. Sears currently occupies 313,000 square feet and will close in March. Other tenants at the mall include Apple, Lush, North Face and Pottery Barn. Woodland Mall’s proximity to the high-income communities of Ada, Cascade and East Grand Rapids drives strong retailer and shopper demand.

February 16, 2017

Midwest Minnesota Retail

KW Commercial Arranges Sale of Former K-Mart Property in Dundas, Minnesota

by Kristin Harlow February 16, 2017

DUNDAS, MINN. — KW Commercial Midwest has arranged the sale of a former Kmart property located at 404 and 420 Schilling Drive North in Dundas, about 40 miles south of Minneapolis. The sales price was not disclosed. The one-story, 94,479-square-foot retail center was constructed in 1990 and sits on approximately 12 acres with high visibility to State Highway 3. The property consists of two adjoining buildings: the former Kmart store, vacated in April 2016, and the currently leased Sears HomeStore. The buyer, CJB II Real Estate LLC, is redeveloping the property for multiple tenants. Tom Baker and William Gorton of KW Commercial Midwest brokered the sale.

February 16, 2017

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