MCKINNEY, TEXAS — Wingstop is set to open a new 1,745-square-foot restaurant at The Shops at Eagle Point in McKinney. Britton Lankford of Bright Realty represented the tenant in the transaction, and Vy Le of Quine & Associates represented the undisclosed landlord. Walmart shadow anchors the shopping center, which is also home to tenants including Subway, Mooyah, SportClips Haircuts and Kelly-Moore Paints. An opening for the restaurant has yet to be announced.
DOWNERS GROVE, ILL. — Adelphia Properties has brokered the sale of a newly constructed retail building located at 1201 Ogden Ave. in Downers Grove. A private investor acquired the property from the undisclosed developer for $4.1 million. BMO Harris Bank and Chipotle Mexican Grill occupy the 5,305-square-foot building. Simeon Spirrison and George Spirrison of Adelphia Properties represented the buyer in the deal.
DOWNERS GROVE, ILL. — Metro Commercial Real Estate has arranged the lease of retail space at Butterfield Plaza in Downers Grove. Skechers has leased 8,000 square feet at the retail property. Other tenants at the center include Ross Dress for Less, Catherines, Tuesday Morning and Half Price Books. This location will be Skechers’ 16th store in the Chicagoland market. Steven Baer of Metro Commercial Real Estate represented Skechers in the transaction. The name of the landlord was not released.
INDIANAPOLIS — Lee & Associates has brokered the lease of retail space at 6280 N. College Ave. in Indianapolis. An undisclosed lessee plans to open a 1,860-square-foot Pure Barre location at the site within The Broad Ripple Garage. Crystal Kennard and Scot Courtney of Lee & Associates represented the undisclosed landlord in the transaction.
GRESHAM, ORE. — DDR Corp. has acquired Gresham Town Center, a 296,186-square-foot mixed-use center located in the Portland suburb of Gresham, for an undisclosed price. The retail portion of the property is home to tenants including Best Buy, Bed Bath & Beyond, Craft Warehouse, Cost Plus World Market, Old Navy, Ulta Beauty, Panera Bread, Starbucks Coffee, Old Navy, Men’s Wearhouse, Baja Fresh Mexican Grill and Charming Charlie. The center also contains 12,289 square feet of office space. A 45,000-square-foot, single-tenant LA Fitness located north of the center was also included in the sale. Nick Kassab of HFF represented the seller in the transaction, Westlake Realty Group Inc.
CASTLE ROCK, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $6 million sale of 4989 Factory Shops Blvd., a 10,113-square-foot shopping center located in Castle Rock, roughly 30 miles outside of Denver. Tom Ethington and Rob Edwards of Pinnacle represented the undisclosed seller in the transaction. Tenants at the center include MOD Pizza, Jersey Mike’s Subs and AT&T.
BROOMFIELD, COLO. — Old Chicago Pizza & Taproom has signed franchise development agreements with three of its existing franchise partners to open nearly two dozen new restaurants. These agreements will grow Old Chicago’s footprint across eight states. Among existing franchise groups to sign new agreements are the Johnson Group, which has plans to bring three restaurants to Wyoming and Montana. Old Chicago operates in 24 states with more than 100 restaurants nationwide. Broomfield, Colo.-based CraftWorks Restaurants &a Breweries, Inc. is the largest craft brewery restaurant operator in the country with nearly 200 franchised and company-owned restaurants primarily operating under the Old Chicago Pizza & Taproom, Gordon Biersch Brewery Restaurants, Rock Bottom Restaurants & Breweries and ChopHouse & Brewery brands.
SANTA BARBARA, CALIF. — Santa Barbara-based brokerage firm Radius Commercial Real Estate & Investments has acquired Ventura, Calif.-based Hagelis Group – The Retail Property Advisors, as part of the firm’s effort to expand service and reach in the Tri-Counties. Hagelis will now operate under the Radius banner while maintaining its office at 4227 E. Main St in Ventura. Bill Hagelis and Linda Hagelis, co-founders, will take on roles as senior vice presidents at Radius. Additional Hagelis team members include Rob Devericks and Lisa Engel. With this acquisition, Radius now has 21 brokers.
Not so many years ago, the typical consumer thought of visiting the nearby regional mall or neighborhood center to go shopping — possibly for a new pair of jeans or some shoes. Like everything else in this world, the internet has significantly altered this exercise and, today, people tend to think of retail centers as places to “experience” something that cannot be easily acquired or replicated by simply tapping on a keyboard to request it. Developers and retailers alike have adapted to this behavioral change by introducing new concepts that emphasize the delivery of this experience, including new restaurants, entertainment-style concepts and health care services. This trend remains in full swing in the Baltimore metropolitan region, coupled with game-changing projects planned or rising throughout the Charm City region. Food, Medical, Entertainment The continued popularity of fast-casual restaurants is driven in large part by time-depraved families with dual-income households that seek eating options offering both quality and quickness. The “burger war” includes recent entries such as Bobby’s Burger Palace, Clark Burger and Shake Shack. Wahlburgers, operated by actor Mark Wahlberg and his brothers, might soon follow. Pizza remains a crowded, yet vibrant, category with new arrivals &pizza, Blake Pizza, MOD Pizza …
DALLAS — While retail spending is on the rise overall, companies and brands that appeal to younger shoppers are having by far the most success, according to Dana Telsey, CEO and chief research officer at Telsey Advisory Group in New York City. Shifting consumer trends mean certain retailers — such as off-price apparel chains and “eatertainment” anchors like Topgolf and Main Event Entertainment — are having more success than others catering to the demands of the younger demographic. Telsey was the keynote speaker for the ICSC Texas Conference & Deal Making show that took place Oct. 5-7 at the Kay Bailey Hutchison Convention Center in Dallas. The event drew 4,008 attendees, the most in its history and the first time the conference has ever topped the 4,000 mark. The brokers, lenders, developers and others who listened to Telsey’s speech heard mostly positive news about the state of their industry. One retail subset seeing a lot of growth is off-price retailers, including TJ Maxx, Marshalls and Ross Dress for Less. “The off-pricers are the new department stores of today,” said Telsey. While those retailers are surging, some traditional department stores are struggling. Macy’s plans to close 100 locations, and Kohl’s has …