Retail

Maillard Tavern to Open in Chicago This Summer

by Kristin Harlow May 31, 2017

CHICAGO — Maillard Tavern has signed a 1,600-square-foot lease to open a restaurant in Chicago. The burger restaurant, which will also offer ice cream and cocktails, will occupy the space at the southern apex of the Milwaukee Avenue and Halsted Street intersection. The restaurant is slated to open late this summer and will be the third operation for Tony Priolo and Ciro Longobardo. The duo opened their second venture, Nonnina, in 2012 in River North. Danny Spitz, Greg Dietz and Jacqueline Brito of Baum Realty Group LLC brokered the lease transaction on behalf of the landlord, the owners of the adjacent Piccolo Sogno building.

May 31, 2017

New York Northeast Restaurant Retail

Quality Eats Opens New Location in NYC

by Haisten Willis May 31, 2017

NEW YORK CITY — SCG Retail, a division of The Shopping Center Group, has arranged the lease of a new location for Quality Eats at 3 E. 28th St. in Manhattan. Quality Eats is a steakhouse concept owned by Quality Branded Restaurants. The 5,000-square-foot location is expected to open late this year. Allan Stillman and Michael Stillman founded Quality Branded Restaurants, formerly known as Fourth Wall Restaurant Group, in 2007. The first location for Quality Eats opened more than a year ago in Greenwich Village. The restaurant recently signed a lease for a second Manhattan location on the Upper East Side at 1496 Second Ave. Brandon Berger and Jackie Totolo of RKF represented the landlord, Winter Properties, while Taryn Brandes of SCG Retail represented the tenant in the transaction.

May 31, 2017

E-Commerce as Share of Core Retail Sales

Features Retail Top Stories

Core Retail Sales Are at All-Time High Despite Industry Shakeout, Says Nadji at RECon

by Jeff Shaw May 30, 2017

LAS VEGAS — The roof isn’t about to cave in on the retail industry despite a rash of store closures and bankruptcies. Far from it, insists Hessam Nadji, president and CEO of Marcus & Millichap. Core retail sales, which exclude auto and gasoline sales, have risen 28 percent from the peak of 2008 on a nominal basis and 12 percent when adjusted for inflation, according to combined data from the Bureau of Labor Statistics, the U.S. Census Bureau and Marcus & Millichap. Unlike the period leading up to the Great Recession, when unsustainable consumer spending was fed by temporary factors such as overleveraging and homeowners using positive equity in their homes as ATMs to fund unaffordable lifestyles, those behaviors have largely been squelched in this recovery, Nadji points out. “We have not overleveraged. We have not stretched the consumer,” Nadji told a crowd of several hundred retail real estate professionals gathered at the Renaissance Las Vegas Hotel last Monday, May 22, to hear his presentation followed by a panel discussion on the state of the industry moderated by Bill Rose, director of the national retail group at Marcus & Millichap. The hour-long program was part of RECon, the annual dealmaking …

May 30, 2017

Nevada Restaurant Retail Western

Subway Debuts New Restaurant Design at ICSC RECon

by Nellie Day May 30, 2017

LAS VEGAS — Subway debuted its new Subway Fresh Forward design at the International Council of Shopping Centers (ICSC) RECon show in Las Vegas last week. Along with a new Subway logo, flooring, wall coverings, wall art, a curated music program and lighting, the operational flow of the restaurants is changing as well. The workspace will be updated to be more efficient, while additional pieces of equipment, like an exhaust ventilation system, will help maintain temperatures and improve air quality. Subway franchisees have already piloted the new Subway Fresh Forward design in six locations (Knoxville, Tenn.; Orlando, Fla.; Chula Vista, Calif.; Tamarac, Fla.; Vancouver, Wash.; and Manchester, England). In addition, about 50 locations are in various stages of construction around the world and more than 100 restaurants are in the design phase.

May 30, 2017

Mixed-Use Retail Texas

Vista Breaks Ground on Final Phase of Development at Retail Center in Katy

by Taylor Williams May 30, 2017

KATY, TEXAS— Vista Equities Group has broken ground on the final phase of development of LaCenterra at Cinco Ranch, a 34-acre, mixed-use development in Katy. Expected to be complete in early 2018, the final phase will add a 37,000-square-foot Alamo Drafthouse Cinema, a five-story parking garage and an additional 7,500 square feet of retail space to the 360,000-square-foot development.

May 30, 2017

Midwest Retail Wisconsin

Shoe Sensation Signs 7,240 SF Retail Lease in Beaver Dam, Wisconsin

by Kristin Harlow May 30, 2017

BEAVER DAM, WIS. — Shoe Sensation has signed a 7,240-square-foot retail lease at Heritage Village Mall in Beaver Dam, about 40 miles northeast of Madison. The property is located at 1645 N. Spring St. Joe Kleiman of Mid-America Real Estate-Wisconsin LLC represented the undisclosed landlord in the lease transaction.

May 30, 2017

Michigan Midwest Retail

NAI Wisinski Negotiates 1,526 SF Retail Lease for Beauty Bar in Grand Rapids, Michigan

by Kristin Harlow May 30, 2017

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has negotiated a 1,526-square-foot retail lease for Urban You Beauty Bar in Grand Rapids. The property is located at 3152 Peregrine Drive. Urban You is a beauty bar that offers hair styling, makeup application, nail design, brows, lashes and medical spa services. The company will use this space as a pop-up shop until its other locations are completed in East Grand Rapids, Knapps Corner and Holland.

May 30, 2017

Alabama Market Reports Retail Southeast Southeast Market Reports

Retail Activity Leads the Way in Birmingham’s Revitalization

by John Nelson May 30, 2017

The Birmingham retail market had an explosive 2016. Several large projects were announced or completed, while traditional indicators of market health also showed promising signs of growth. TopGolf will soon be coming to the Uptown District, while Regions Field, home of the Birmingham Barons minor league baseball team, continues to attract surrounding development. Breweries remain a mainstay in Birmingham’s social scene, and they have demonstrated a capability to revive entire neighborhoods. As the natural beauty of Alabama becomes more important to residents and newcomers, the Red Rock Trail System’s green space bicycle system, which encompasses over 200 miles of green space trails and over 600 miles of street-based paths connecting all corners of the Birmingham area, will continue to grow in importance and recognition. By the fourth quarter of 2016, retail vacancy had decreased to 5.4 percent, down from 6.1 percent at the beginning of 2016, while market rents for major submarkets held steady around $12.37 per square foot. Downtown Birmingham, which hasn’t been viewed as a major retail area for decades, is the site of resurgent interest and accompanying capital. Some of the revitalization is occurring due to a renewed interest in public greenspaces, such as the recently developed …

May 30, 2017

Market Reports Retail South Carolina Southeast Southeast Market Reports

Greenville’s Positive Economic Momentum is Catching the Eye of Retailers

by John Nelson May 29, 2017

The city of Greenville and the surrounding submarkets are exploding with growth. The once-sleepy textile town in the Upstate of South Carolina has now become a robust, diversified economy that is garnering interest from retailers that may have overlooked the market in the past. The change in the city of Greenville has not gone unnoticed; several publications and top ten lists have recognized Greenville for its thriving downtown. From the addition of Falls Park in 2004, an approximately 32-acre oasis in the West End of the city, to multiple mixed-use developments under construction, Greenville’s resurgence has brought new residents, new retail and new life to the region. Growth in the Greenville market has been largely driven by the addition of thousands of new jobs, a low cost of living and highly attractive lifestyle options. Greenville serves as the North American headquarters for BMW, Michelin and Hubbell Lighting, all of which have contributed to significant job growth in the region. As Greenville’s downtown has continued to draw national recognition, retailers have taken notice. In recent years, Greenville has attracted a multitude of national retailers new to the market. Hughes Development’s Project ONE kicked things off when it brought national retailers like …

May 29, 2017

California Retail Western

IREA Negotiates $54.7M Sale of Retail Center in Northridge

by Nellie Day May 26, 2017

NORTHRIDGE, CALIF. — Encino-based Investment Real Estate Associates (IREA) has arranged the $54.7 million sale of the Northridge Plaza Shopping Center in Northridge. The property had been family owned for 37 years and this transaction is the first time it has changed hands since being built in 1980. The 235,000-square-foot shopping center is located at 8741-8840 Corbin Ave. on a 16.5-acre tract. Anchor tenants include Target, Kohls and Wells Fargo. Yubin Tao of IREA and Greg De Rubeis of LBPM represented both the buyer, Paragon Commercial Group, and the seller, NLSR LP.

May 26, 2017

Newer Posts

Older Posts