Retail

Guy Fieri’s Smokehouse Fourth Street Live! Louisville

Guy Fieri’s Smokehouse to Open at Fourth Street Live! in Downtown Louisville

by John Nelson May 13, 2016

LOUISVILLE, KY. — The Cordish Cos. has signed a lease with celebrity chef Guy Fieri for his new dining concept, Guy Fieri’s Smokehouse. The new barbecue restaurant will open to the public in September at Fourth Street Live!, a 350,000-square-foot dining and entertainment destination in downtown Louisville. Designed by Boston-based Niemitz Design Group and Louisville-based Bravura Architects, the restaurant will feature 6,700 square feet of dining space, 117 interior seats, 79 outdoor patio seats, two large meat smokers and an indoor/outdoor bar. Other dining concepts at Fourth Street Live! include Birracibo by Junior Bridgeman, Jim Beam Urban Stillhouse, Bourbon Raw, Goose Island Beer Bridge, Gordon Biersch Brewery Restaurant, Brazeiros Churrascaria Brazilian Steakhouse and Eddie Merlot’s.

May 13, 2016

Market Reports Retail Texas Texas Market Reports

The Grocery List: What’s Impacting the Market in Texas

by Haisten Willis May 13, 2016

Grocery stores are always getting a better understanding of the priorities of their core customers. Convenience, value and service are the top reasons people shop where they shop. However, those priorities are expanding. The focus has shifted away from simply providing a “one size fits all” solution toward a customized strategy to attract a cross-section of customers — from the everyday shopper to experienced foodie. By doing so, retail spaces are successfully opening across the state at an elevated rate, addressing growing customer demand while navigating the ever-changing market. Here are five items impacting grocery stores in our state. Educated Customers Customers are becoming more educated about the products they buy. Their expectations are changing. Retailers are finding creative ways to successfully addressing them. To increase revenue and margins, drug stores are getting into the mix, with mixed results. Established chains like Walgreens and CVS/Pharmacy are renovating over 400 locations, with increased emphasis on rebranding their drug stores as health/wellness retailers and expanding the grocery items kept in stock. Big box stores, like Walmart, are also making changes as they try to refine their market strategies. The company announced that approximately 102 of its smaller Walmart Express stores will be …

May 13, 2016

Northeast Pennsylvania Retail

Colliers Brokers $2.5M Sale of Retail Property in Pennsylvania

by Amy Works May 12, 2016

HANOVER, PA. — Colliers International has arranged the sale of a retail property located at 61 Wilson Ave. in Hanover. The asset sold for $2.5 million, with a cap rate of 4.95 percent. Situated on 1.1 acres, the 3,950-square-foot freestanding property is absolute NNN fully-leased to Fulton Bank. Larry Kostelac, William Aiello, George Lulos of Colliers’ Harrisburg, Pa., office were the sole brokers in the transaction. The names of the buyer and seller were not released.

May 12, 2016

California Retail Western

Donahue Schriber Acquires San Francisco Bay Area Shopping Center

by Nellie Day May 12, 2016

LOS GATOS, CALIF. — Donahue Schriber has acquired Los Gatos Village Square, a 46,235-square-foot grocery-anchored shopping center located in the San Francisco Bay area community of Los Gatos. Trader Joe’s anchors the fully occupied center. Nicholas Bicardo, Danny Reddin and Brandon Rogoff of HFF represented the undisclosed institutional seller in the transaction.

May 12, 2016

California Retail Western

Vestar Purchases Retail Center in Granite Bay for $28.1M

by Nellie Day May 12, 2016

GRANITE BAY, CALIF. — Vestar has acquired Sierra Oaks Plaza, a neighborhood shopping center located in Granite Bay in the Sacramento metropolitan area. The asset, which is situated at the intersection of Douglas and Sierra College boulevards, sold for $28.1 million. Walmart Neighborhood Market, Chick-Fil-A, Crunch Fitness, Tri Counties Bank and Habit Burger occupy the 105,555-square-foot property. Over the past 12 months, Vestar has acquired six retail centers valued at $700 million throughout the Western states.

May 12, 2016

Colorado Retail Western

Pinnacle Arranges $4.8M Sale of Centennial Corners in Metro Denver

by Nellie Day May 12, 2016

CENTENNIAL, COLO. — Pinnacle Real Estate Advisors LLC has arranged the sale of Centennial Corners, an 18,719-square-foot shopping center located in the Denver suburb of Centennial. Kevin Calame and Matt Lewallen of Pinnacle represented the buyer, Centennial Corners LLC, and Tom Ethington and Robert Edwards of Pinnacle represented the seller, Woodbury Corp., in the transaction. Walmart shadow-anchors the center, which is home to tenants including Anytime Fitness, Bawarchi Biryani Point, Domino’s, Anytime Lab, Game Stop and Qdoba.

May 12, 2016

Georgia Loans Office Retail Southeast

AloStar Provides Two Loans for Office, Retail Properties in Metro Atlanta Totaling $23.6M

by John Nelson May 12, 2016

ATLANTA — AloStar has provided two loans for an office building and shopping center in metro Atlanta totaling $23.6 million. The bank funded both loans through its commercial real estate platform, AloStar Real Estate Finance. The financing included a $19 million loan for 1100 Circle 75, a 16-story office building in Atlanta’s Cumberland/Galleria submarket, and a $4.6 million loan for Shoppes at Trickum, a 49,900-square-foot, Walmart-anchored shopping center in Woodstock that is also leased to Dollar Tree and rue21. AloStar provided the acquisition financing for Shoppes at Trickum to Shoppes at Trickum LLC, an affiliate of SunCap Real Estate Investments.

May 12, 2016

Market Reports New Jersey Northeast Northeast Market Reports Retail

How New Jersey Retail Gains After Losing A&P

by Jaime Lackey May 12, 2016

The dissolution of The Great Atlantic & Pacific Tea Company, better known as A&P, after 156 years in business was not a complete shock — they had, after all, applied for bankruptcy protection once before already this decade. However, the company and its many legacy brands occupied 296 stores in the United States and Canada at the time of liquidation, which meant a seismic shift was bound to occur in those real estate markets. In Northern and Central New Jersey, the resulting repositioning of A&P’s highly-coveted retail properties is proving to be an unexpected positive for a variety of reasons. For one, A&P occupied space in many of their shopping centers for decades, meaning they were paying less than market rent. Landlords are now able to negotiate new deals at higher rents, resulting in an important market correction. This is also an opportunity to reassess the makeup of centers and figure out not only what categories are missing but also what use groups will best drive traffic and stabilize the centers. Owners are able to repurpose the anchor spaces to accommodate smaller users. For example, on Route 35 in Middletown, the former Pathmark has been subdivided into a TJ Maxx …

May 12, 2016

California Retail Western

Eight New Retailers to Open at Perris Marketplace

by Nellie Day May 11, 2016

PERRIS, CALIF. — Eight new retailers are set to open at Perris Marketplace, a Super Walmart-anchored shopping center located in the Los Angeles suburb of Perris. New openings will include a 2,000-square-foot Chipotle Mexican Grill; a 3,000-square-foot Pacific Dental; a 2,300-square-foot Pieology; a 2,500-square-foot freestanding Popeye’s with a drive-thru; a 1,600-square-foot T-Mobile; a 1,600-square-foot Verizon; a 1,500-square-foot Waba Grill; and a 1,135-square-foot Yogurtland. Paul Galmarini of Progressive Real Estate Partners represented the developers and owners of the center, Evergreen and Trachman Indevco, in the transactions. The freestanding drive-thru pad and the two buildings that will be home to the new stores are scheduled for groundbreaking in early summer 2016, with all eight retailers projected to open in late 2016 and early 2017.

May 11, 2016

California Restaurant Retail Western

MoMo’s American Bar & Grill to Open Second Location in Metro San Francisco

by Nellie Day May 11, 2016

WALNUT CREEK, CALIF. — MoMo’s American Bar & Grill, an AT&T Park-adjacent restaurant, is opening a second location in Walnut Creek, roughly 25 miles outside of San Francisco. The bar and eatery will occupy a 6,528-square-foot retail space at 1444 N. California Blvd. Jeffrey Hook of Savills Studley represented MoMo’s, and John Sechser of Transwestern represented the landlord, Nearon Enterprises, in the transaction. The restaurant signed a 15-year lease with two extension options, and plans to open in the fourth quarter of this year. This will be the fifth restaurant owned by The Golden Bear Restaurant Group, founded in 1991 by Peter Osborne and his wife, Janet. The original MoMo’s opened in 1998 and was named in memory of Osborne’s grandmother and mentor, whom he affectionately called MoMo.

May 11, 2016

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