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AlabamaRetailSoutheast

Dollar General Celebrates 13,000th Store Opening With New Birmingham Location

by John Nelson

BIRMINGHAM, ALA. — Dollar General has opened the company’s 13,000th location with a new store in Birmingham. The new store is located at 4132 Jefferson Ave. S.W. The Goodlettsville, Tenn.-based discount retail chain employs more than 6,500 employees in Alabama through 675 stores and its distribution center in Bessemer, which opened in 2012. The new Birmingham location is one of the planned 900 new stores that Dollar General has opened or will open in 2016 throughout the 43 states that the retailer currently serves.

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MidwestMissouriRetail

MIRASON Properties Begins Renovation of 40,200 SF Shopping Center in Kansas City

by Christina Cannon

KANSAS CITY, MO. — MIRASON Properties LLC has begun renovations on the 40,200-square-foot Watts Mill Shopping Center in Kansas City. Located at the corner of 103rd Street and State Line Road, the shopping center features tenants such as Jasper’s Italian Restaurant, Ugly Joe’s Bar & Grill and Goodyear Tires. Updates to the center will include a new façade, architectural elements, LED lighting, landscaping, signage and a restriped parking lot. Block & Company Inc. oversees management and leasing for the property. The project is slated for completion this October.

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MichiganMidwestRetail

Colliers International Brokers Sale of 6,230 SF Retail Property Near Ann Arbor

by Christina Cannon

YPSILANTI, MICH. — Colliers International has brokered the sale of a 6,230-square-foot retail building in Ypsilanti, approximately 10 miles southeast of Ann Arbor, for an undisclosed price. Norman and June MacArthur sold the property, which is located at 4864 Washtenaw Ave., to Majik Properties LLC. University Office Technologies currently occupies the building, and Majik Properties will lease the space once the company moves out this September. Jim Chaconas and Richard Timmons of Colliers International represented both the buyer and seller in the transaction.

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RetailWashingtonWestern

Domino’s Opens 13,000th Store Near Seattle

by Nellie Day

AUBURN, WASH. — Domino’s Pizza has opened its 13,000th store in the world, located in Auburn, outside of Seattle. The new  store features the pizza theater design, which includes a comfortable lobby, open-area viewing of the food preparation process and the ability to track carryout orders electronically on a lobby screen. The store also features energy-efficient electric bikes and a Domino’s DXP, the company’s new specialized delivery car.

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FloridaMarket ReportsRetailSoutheastSoutheast Market Reports

Miami’s Overall Growth Fuels Major Retail Projects in City’s Development Pipeline

by John Nelson

Miami is coming into its own as an increasingly international city that continues to attract new residents, visitors and investment and development activity. The city’s urban core is flourishing, with residents gravitating toward a downtown area that allows them to live, work and play in the same neighborhood. The Miami retail market is experiencing a development surge to accommodate the city’s growth. Through the end of the first quarter of 2016, about 2.3 million square feet of retail space was under construction, according to CoStar. The developments are bringing a new class of retailers to the market. Major projects include Brickell City Centre, a 500,000-square-foot shopping center with a roster of tenants that includes Armani Collezioni, anchor tenant Saks Fifth Avenue and Valentino. North of downtown Miami, the $1.7 billion Miami Worldcenter project will introduce a high-street retail concept that is similar to the popular Lincoln Road open-air mall in Miami Beach. In Miami’s Design District, the $1 billion redevelopment of the neighborhood is attracting luxury retailers like Hermès, Louis Vuitton and Cartier. Downtown residents will have easy access to all of these retail destinations. Retail operating fundamentals remain strong in the Miami market. Vacancies closed the first quarter of …

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RetailTexas

Colliers Negotiates Sale of Fairmont Central Shopping Center in Pasadena

by Haisten Willis

PASADENA, TEXAS — Colliers International represented John Harris Ventures LP in the sale of Fairmont Central Shopping Center, located at 4118 Fairmont Parkway in Pasadena. Marshall Clinkscales of Colliers represented John Harris Ventures. Bill Pyle with Edge Realty Capital Markets and Ray Orazani of Main Realty represented the buyer, Fairmont Central LLC. Bill Barnett with Charter Title Co. handled the closing.

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Empire-Petroleum-Dallas
RetailTexas

Vitorino Group Brokers Sale of Empire Petroleum Gas Station in Grapevine

by Haisten Willis

DALLAS — The Vitorino Group has brokered the sale of an Empire Petroleum gas station and convenience store in Grapevine. The single-tenant, net-leased asset is located on State Highway 121 just north of Dallas/Fort Worth International Airport. The Vitorino Group acted as an intermediary between a local Dallas owner and a private, Dallas-based REIT. Terms of the sale were not disclosed.

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CaliforniaMixed-UseMultifamilyRetailWestern

Benchmark Contractors Completes Blossom Plaza in Downtown Los Angeles

by Nellie Day

LOS ANGELES — Benchmark Contractors, a subsidiary of Morley Builders, has completed the construction of Blossom Plaza, located at the intersection of Broadway and College Street in downtown Los Angeles. Situated directly north of the Gold Line’s Chinatown Station, the plaza serves as the main pathway through Blossom’s Cultural Plaza and commercial arcade. Blossom features 237 apartment units in three five-story structures with 19,000 square feet of retail space over parking for 453 cars. Forest City developed the project, which Johnson Fair and Togawa Smith Martin designed. The project is targeting LEED Gold certification.

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