Monday, June 9, 2025
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AcquisitionsIllinoisMidwestRetail

Capital Healthcare Properties, HSG Medical Acquire 21,070 SF Retail Property in Metro Chicago

by Kristin Harlow

LOMBARD, ILL. — A partnership between Capital Healthcare Properties and HSG Medical has acquired a 21,070-square-foot retail property in the Chicago suburb of Lombard for an undisclosed price. Immediately upon the acquisition, the partnership executed a long-term lease with Duly Health and Care that brings the freestanding property from 33 percent leased to fully occupied. Duly Health and Care is a Chicagoland healthcare provider with more than 1,200 primary care and specialty providers across 50-plus specialties with 150 locations. Located at 2830 S. Highland Ave., the building features additional tenants such as Potbelly and SimonMed Imaging. The buyers plan to make upgrades, including a new parking lot, new roof, enhanced front sidewalks, exterior tuckpointing and landscaping. The property was sold by a special servicer who was represented by Frontline Real Estate Partners. The asset was put under the control of a special servicing agent after the previous owner defaulted on its loan.

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Leasing ActivityMichiganMidwestRestaurantRetail

Soul Food Restaurant Signs 7,198 SF Lease at Eureka Plaza in Southgate, Michigan

by Kristin Harlow

SOUTHGATE, MICH. — A soul food restaurant has leased 7,198 square feet of retail space at Eureka Plaza in Southgate, a southwest suburb of Detroit. The lease brings the shopping center to full occupancy. There is still proposed outlot availability at the property, with up to 2,500 square feet with drive-thru capability. Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord.

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Leasing ActivityNew YorkNortheastRetail

Whole Foods to Open 10,000 SF Store in Manhattan’s East Village on May 14

by Taylor Williams

NEW YORK CITY — Whole Foods Market will open a 10,000-square-foot store in Manhattan’s East Village on Wednesday, May 14. The small-format store will be located within the StuyTown development at 409 E. 14th St. At the opening, Whole Foods will present Harlem-based supplier Uncle Waithley’s with a low-interest loan to help grow its operations and support expansion to more Whole Foods Market stores.

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Company NewsNortheastPennsylvaniaRetail

Rite Aid Files for Chapter 11 Bankruptcy, Explores Acquisition Opportunities

by Taylor Williams

CAMP HILL, PA. — Rite Aid has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey and is exploring opportunities to be acquired by outside entities. The announcement marks the second time in 24 months that the Pennsylvania-based convenience and drugstore chain has filed for voluntary Chapter 11 bankruptcy protection. The previous filing in October 2023 preceded the closure of hundreds of stores across the country. The company did not explicitly say in this filing how many of its stores would be immediately impacted, only noting that it would “divest or monetize any assets that are not sold through the court-supervised process.” To facilitate a potential sale, Rite Aid has secured commitments from some of its existing lenders to access approximately $1.9 billion in new financing, which will be used to fund existing operations prior to and during a court-supervised sales process. According to USA Today, Rite Aid operated about 1,200 stores across 15 states at the time of the latest filing.

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Shaver-Hall-Manhattan
DevelopmentNew YorkNortheastRestaurantRetail

The Food Hall Co. Unveils Plans for 35,000 SF Shaver Hall in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — The Food Hall Co., a Dallas-based operator, has unveiled plans for Shaver Hall, a 35,000-square-foot culinary destination that will be located within the historic former Lord & Taylor building at 424 Fifth Ave. in Midtown Manhattan. Designed by ZGF Architects and ICRAVE, Shaver Hall will feature 11 curated food stalls, including an Omakase concept, a wine and cheese bar, a steakhouse and a modern bodega. Shaver Hall is scheduled to open before the end of the year.

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Leasing ActivityMichiganMidwestRestaurantRetail

Domino’s to Open 1,800 SF Location at Detroit’s Chene Square

by Kristin Harlow

DETROIT — Domino’s Pizza has signed a lease to open an 1,800-square-foot location at Chene Square in Detroit. The retail center is located on East Jefferson Avenue and Chene Street. Michael Murphy of Gerdom Realty & Investment represented the corporate tenant. Benji Rosenzweig of Colliers represented the undisclosed landlord.

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AcquisitionsFloridaGeorgiaNorth CarolinaRetailSoutheast

Marcus & Millichap Facilitates 10-Property Portfolio Sale of Dollar General-Leased Stores in the Southeast

by John Nelson

ATLANTA — The Taylor McMinn Retail Group of Marcus & Millichap in Atlanta has brokered the sale of a 10-store portfolio in North Carolina, Georgia and Florida. Each store is triple-net leased to Dollar General for an average lease term of 13 years remaining. The undisclosed seller was an institution and the buyers were all individual private investors who paid an average of 97 percent of list price, according to Don McMinn of the Taylor McMinn Retail Group. “This portfolio sale showcases our team’s ability to achieve above-market pricing by leveraging our track record, network and platform in spite of challenging market conditions,” says McMinn.

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AcquisitionsLouisianaRetailSoutheast

STRIVE Negotiates Sale of 14,000 SF Retail Strip Center in Shreveport, Louisiana

by John Nelson

SHREVEPORT, LA. — STRIVE has brokered the sale of Bert Kouns Retail Plaza, a 14,000-square-foot retail property located in Shreveport, roughly 17 miles east of the Louisiana-Texas border. Originally built in 2002, the center was fully leased to a nail salon, Johnny’s Catfish, Unique LaChique’s Event Center, Tower Loan, Jackie’s Outlet and M&M Builders at the time of sale. Andrew Williams and Will Schubert of STRIVE represented the seller and sourced the buyer, both locally based in Louisiana. Additional terms of the sale were not disclosed.

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AcquisitionsCaliforniaNew YorkNortheastRetailTop StoriesWestern

3G Capital Agrees to Acquire Skechers for $9.4B, Take Company Private

by Kristin Harlow

MANHATTAN BEACH, CALIF. AND NEW YORK CITY — Global investment firm 3G Capital has entered into an agreement to acquire footwear retailer Skechers USA Inc. (NYSE: SKX). The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 in cash and one unlisted, non-transferrable equity unit in the newly formed company. Founded more than 30 years ago in Manhattan Beach, Calif., Skechers maintains $9 billion in annual sales and is the third largest footwear company in the world. There are more than 5,300 Skechers retail stores worldwide that sell clothing, shoes and accessories at affordable prices. Skechers says the new private company will continue to execute its ongoing strategic initiatives, including the design of innovative products, international development, direct-to-consumer expansion, domestic wholesale growth and strategic investments in global distribution, infrastructure and technology. The Skechers board of directors unanimously approved the sale. Skechers will continue to be …

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 17,346 SF Retail Strip Center in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of University Place, a 17,346-square-foot retail strip center located in the North Texas city of Denton. Tenants include Dunkin’, Tuk-Tuk Thai Kitchen, Metro by T-Mobile, Palm Beach Tan, Boomer’s Grill, CashMax Title & Loan, Allure Nail Bar Denton and Artisan Vapor & CBD Denton. Hudson Lambert and Jennifer Pierson of STRIVE brokered the deal. The buyer and seller were not disclosed.

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