SYRACUSE, N.Y. — Par’s Indoor Golf has leased 6,435 square feet of retail space at 3179 Erie Blvd. within Dewitt Town Center in Syracuse. The family-owned-and-operated indoor golf center features six state-of-the-art golf simulators. The new location is slated to open at the end of October. Lindsey Forcione of The Icon Companies represented the tenant, while Grazi Zazzara, also of The Icon Companies, represented the undisclosed landlord in the transaction.
MATTHEWS, N.C. — Ziff Properties Inc. has purchased Matthews Festival Shopping Center, a 127,817-square-foot shopping center located at the corner of East Independence Boulevard and Matthews Township Parkway in Matthews, roughly 12 miles south of Charlotte. Ziff Properties purchased the center from an undisclosed seller for $8.2 million. The property’s tenant roster includes Big Lots, Miracle Ear, Springleaf Financial, Merle Norman Cosmetics, Tequilerias and Tamarind Fine Cuisine of India. Ziff Properties plans to renovate the shopping center. Bryan Wyker of The Providence Group represented the buyer in the transaction and will continue to work on repositioning efforts along with Alex Kelly of Tribek Properties.
Family-owned grocers Schnucks and Dierbergs solidified their position as the primary grocers across the St. Louis metro area when Schnucks acquired 57 stores from National Supermarkets in 1995. But after several years of these two chains dominating the grocery sector, an influx of fresh-format grocery stores is shaking up the market by offering shoppers fresh, local, organic — and in some cases more affordable — whole food choices. These new chains — typically half the size of traditional grocers — appeal to a younger customer, as well as those looking to supplement their grocery shopping or find items for special occasions. Consumers interested in the offerings of fresh-format grocers are willing to drive farther to shop at their stores. New Entrants Abound Fields Foods, a “homegrown” fresh-format grocer, opened its first location in the Lafayette Square neighborhood in January 2014. The newly constructed 37,000-square-foot, stand-alone building is just south of downtown’s central business district. The grocer markets produce provided by farmers within 100 miles of the store, and also features a wine bar and personal shoppers. This unique, full-service grocer is locally owned and was the first fresh-format store to enter the metro area. Fields Foods has plans to expand …
RICHARDSON, TEXAS — The Weitzman Group has negotiated the sale of The Shire, an 83,000-square-foot mixed-use retail and office project located at President George Bush Turnpike and Jupiter Road in Richardson. A local investment group formed by Huey Investments and Standridge Cos. was the buyer. Restaurateur Dale Wamstad was the seller. Eddie Liebman and Joey Keffler with The Weitzman Group handled negotiations. The Shire features restaurants as well as service and office users. Restaurants in the retail space include Silver Fox Steakhouse, Ye Shire Tavern, Main Street Bistro/Bakery, Thai’s Thumbz Urban Kitchen and Apollonia’s Italian Kitchen. Other tenants include Bright Horizons Child Care and Republic Title.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Block 300, a 14,425-square-foot retail property located in Arlington. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Levy also secured the buyer, a private investor. Block 300 is located at 300 E. Abram St. The subject property is a 14,425-square-foot multitenant retail center that is 100 percent occupied. Tenants include Flying Fish restaurant, CearnalCo, Mijo’s restaurant, J. McIntyre Interiors, Twisted Root Burger Co. and Hooligans Pub. The building was constructed in 1956 and sits on 0.9 acres. The subject property is located in a recently revitalized downtown area of the city. It is two blocks east of the University of Texas at Arlington and less than two miles from the Dallas Cowboys stadium, The Ballpark in Arlington and a General Motors assembly plant.
SAN FRANCISCO — Simon Property Group has opened the 185,000-square-foot expansion of San Francisco Premium Outlets, an upscale outlet mall in San Francisco featuring retailers such as Burberry, Coach, Kate Spade New York, MaxMara, Michael Kors and Prada. With the expansion, San Francisco Premium Outlets is now the largest outlet center in California. The expansion adds 30 new stores to the development, including CH Carolina Herrera, Catimini, ECCO, Rag & Bone New York, Scotch & Soda, Ted Baker London, Tory Burch, UGG Australia and Vince. An additional 20 stores will open in the next few weeks, according to Simon. Simon’s redevelopment and expansion projects, including the addition of new anchors, were underway at 28 properties in the U.S. as of June 30. Simon’s share of the costs of all development and redevelopment projects under construction at quarter-end was approximately $2.3 billion.
DANVILLE, CALIF. —Eight stores are set to open at a mixed-use redevelopment of the historic Danville Hotel in downtown Danville, a project by joint developers Castle Cos. and Nearon Enterprises. Retail tenants will receive space in late August through September. New openings will include a 1,200-square-foot Papyrus; a 2,000-square-foot Heavenly Couture; a 1,100-square-foot Sole Desire Shoes; a 1,000-square-foot Look + See Luxury Optical; a 400-square-foot BoBen Designs jeweler; a 3,700-square-foot Danville Brewing Co.; a 2,800-square-foot Pizza Antica; and a 1,600-square-foot Basque Boulangerie Café. Adria Giacomelli and Gary Riele of Newmark Cornish & Carey led the leasing efforts.
SEATTLE — Retail Properties of America Inc. has signed a lease with Corner Bakery Café to open a 4,200-square-foot restaurant at Heritage Square in the Seattle Metropolitan Statistical Area. This restaurant, set to open in spring 2016, will be the first Corner Bakery location in Washington.
EUSTIS, FLA. — Colliers International has brokered the $5.9 million sale of Eustis Shopping Center, a 191,000-square-foot shopping center located in Eustis, roughly 36 miles outside of Orlando. The property’s tenant roster includes Tractor Supply Co., Beall’s Outlet, Aaron’s, Family Dollar and Save-A-Lot. The buyer, Spigal Properties, plans to upgrade the shopping center. Joe Montgomery and Tony D’Ambrosio of Colliers’ Atlanta office and Cynthia Shelton and Kane Morris-Webster of the firm’s Orlando office represented the seller, EquiTrust Life Insurance Co., in the transaction. EquiTrust foreclosed on the property in September 2014 and hired Colliers International to provide property management, leasing and investment sales services.
WAYLAND, MASS. — Zurich Asset Management has acquired Wayland Town Center, a mixed-use retail center in Wayland, from a joint venture between KGI Properties and J.P. Morgan Asset Management for $68 million. Anchored by Stop & Shop Supermarket, the 182,000-square-foot center also includes 17,000 square feet of medical office space occupied by Beth Israel DMC, Joint Ventures and a dental practice, and 12 apartment units, totaling 14,250 square feet. Additional retail tenants at the property include Boston Sports Club, Ace Hardware, Panera Bread and The Local. Bill Moylan, formerly of CBRE, negotiated the transaction.