Retail

Crate & Barrel To Open First Nevada Location

by Nellie Day April 12, 2016

LAS VEGAS — Crate & Barrel has signed a lease to open a store at Downtown Summerlin, a 106-acre fashion, dining and entertainment development located in the Summerlin master-planned community. This will mark the first Nevada location for the retailer. Since opening in October 2014, Downtown Summerlin estimates that 17 million people have visited the development. It has opened 115 retailers in the first phase, which includes 1.4 million square feet of mixed-use development on 106 of the property’s 300 developable acres.

April 12, 2016

Florida Retail Southeast

JK2 Construction Delivers Hello Kitty, Betty Boop Retail Experience at Universal Studios in Orlando

by John Nelson April 12, 2016

ORLANDO, FLA. — JK2 Construction has wrapped up construction on the Hello Kitty and Betty Boop interactive retail experience at Universal Studios in Orlando. The project features 3,000 square feet of space dedicated to merchandise and interactive stations for Hello Kitty, the famous Japanese cartoon cat, and about 1,000 square feet for the iconic Betty Boop cartoon. The space was originally the home of an attraction centered on memorabilia from the TV show “I Love Lucy.” JK2 Construction, which also built the Universal Studios archway entrance, said the project costs exceeded $1.5 million and included changes to the building’s interior and exterior.

April 12, 2016

Mixed-Use Multifamily New York Northeast Retail

Hubb NYC Acquires 40-Unit Mixed-Use Property in Manhattan for $24.5M

by Amy Works April 12, 2016

NEW YORK CITY — Hubb NYC has purchased a mixed-use property located at 99 Suffolk St. in Manhattan’s Lower East Side. The 40-unit asset sold for $24.5 million, or $830 per square foot. Built in 2004, the 29,600-square-foot building features 35 residential units and five commercial units, currently occupied by Elements Preschool. The residential portion includes three studios, 30 one-bedroom and two two-bedroom units. Michael DeCheser, Darragh Clarke and Mei Ling Wong of Cushman & Wakefield brokered the transaction. The name of the seller was not released.

April 12, 2016

New York Northeast Retail

SVN Negotiates $6.7M Sale of Retail Property in New York

by Amy Works April 12, 2016

RED HOOK, N.Y. — Sperry Van Ness | Realty Three Advisors has arranged the sale of a retail property located along North Broadway in Red Hook. Allef Main St Partners LLC purchased the building from MC Red Hook NY Landlord LLC for $6.7 million. The free-standing property is net leased to CVS/pharmacy. Patricia Posillico, Lorriane O’Hara and Aric Schachner of Sperry Van Ness | Realty Three Advisors represented the buyer, while Marcus & Millichap represented the seller in the transaction.

April 12, 2016

California Retail Western

illi Commercial Real Estate Brokers Three Leases in California Totaling 3,264 SF

by Nellie Day April 11, 2016

LOS ANGELES, NORTH HOLLYWOOD AND SANTA CLARITA, CALIF. — illi Commercial Real Estate has arranged three leases totaling 3,264 square feet. In Los Angeles, Wing Factory leased 1,234 square feet of space at 2454 W. Pico Blvd. Gregg Offsay and Dimas Rangel of illi Commercial arranged the leased. In North Hollywood, Kids & Teens Medical Group signed a lease for 1,440 square feet of space at 7544 Laurel Canyon Blvd. Mike Payne of illi represented the tenant, while Sunil Felician De Silva represented the undisclosed landlord in the transaction. In Santa Clarita, Farmers Insurance leased 590 square feet of space at 26256 Bouquet Canyon Road. Jonathan Daniels of illi represented the tenant, while Realty Executives Valencia represented the undisclosed landlord in the deal.

April 11, 2016

California Retail Western

Coldwell Banker Commercial Alliance Arranges Two Sales Totaling $2.2M

by Nellie Day April 11, 2016

NORCO AND WESTMINSTER, CALIF. — Coldwell Banker Commercial Alliance has brokered the sales of two retail properties located in Norco and Westminster. In the first transaction, a private investor acquired a 2,474-square-foot Carl’s Jr. property with Vandermolen Center on Hamner Avenue in Norco. The single-tenant asset sold for $1.2 million. In the second deal, a private 1031 exchange buyer acquired single-tenant Taco Bell property at the intersection of Magnolia Street and Edinger Avenue in Westminster. The 760-square-foot asset, which sits on a 13,681-square-foot parcel, sold for $1 million. Daniel Tyner and Scott Hook of Coldwell Banker Commercial Alliance brokered the transactions.

April 11, 2016

California Retail Western

Rally Auto Group Acquires Vacant Auto Dealership in Palmdale for $2.2M

by Nellie Day April 11, 2016

PALMDALE, CALIF. — Rally Auto Group has acquired a vacant auto dealership located at 421 Auto Center Drive within Palmdale Auto Center in Palmdale. Charman 25 LLC sold the 26,000-square-foot asset for $2.2 million. The buyer plans to use the site for Rally Hyundai, a new Hyundai dealership slated to open third quarter 2016. Jodi Meade of Avison Young represented the seller and buyer in the transaction.

April 11, 2016

Northeast Pennsylvania Retail

PREIT Brings Dick’s Sporting Goods, Field & Stream to Viewmont Mall in Scranton

by Amy Works April 11, 2016

SCRANTON, PA. — PREIT has inked a deal to bring a dual-store format concept to Viewmont Mall in Scranton. Dick’s Sporting Goods and Field & Stream will replace the existing Sears location at the mall. Sears is scheduled to close in July, with the dual-store scheduled to open for business in fall 2017. Over the past few years, PREIT has been implementing an upgrade and improvement program at Viewmont Mall, which features more than 90 retailers, and has recently signed leases with Ulta, Buffalo Wild Wings, Forever 21 and Yankee Candle.

April 11, 2016

Retail Texas

City of Fort Worth Approves $20M Tax Incentive for Outlets at Alliance Retail Project

by Haisten Willis April 11, 2016

FORT WORTH, TEXAS — The Woodmont Co., in partnership with AIL Investment LP, has received tax incentives for the proposed Outlets at Alliance project from the city of Fort Worth. The Fort Worth City Council has voted 7-1 to approve a $20 million economic incentive for The Outlets at Alliance, a Hillwood Properties entity. The 330,000-square-foot shopping mall is planned for the east side of I-35 in north Fort Worth. The incentive is a grant of 85 percent of the city’s 1 percent sales tax if the project reaches $100 million in investment.

April 11, 2016

Georgia Restaurant Retail Southeast

FCA Partners Announces New Tenants Joining The Exchange in Buckhead

by John Nelson April 11, 2016

ATLANTA — Charlotte-based FCA Partners has announced three new tenants joining The Exchange, a 44,500-square-foot retail center in Atlanta’s Buckhead district. The new tenants joining the previously announced Storico Fresco Pasta and YEAH! Burger include SculptHouse, Kohler Signature Showroom and Kale Me Crazy. SculptHouse, a boutique fitness destination, will occupy 3,600 square feet; Kohler Signature Showroom, a home furnishing store, will occupy 7,100 square feet at the “elbow” of the property along the connecting paseo; and Kale Me Crazy will occupy 1,300 square feet for its newest superfood café. The project is a redevelopment of the former Buckhead Exchange. FCA Partners expects for construction on the redevelopment to wrap up this month. Stephanie McCall of The Shopping Center Group is The Exchange’s exclusive leasing agent.

April 11, 2016

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