Retail

Disney Store Opens at St. Johns Town Center in Jacksonville

by John Nelson October 14, 2014

JACKSONVILLE, FLA. — Disney Store has opened its newest store location at St. Johns Town Center, a super-regional, open-air mall located at 4663 River City Drive in Jacksonville. The mall is operated by Simon Property Group. The store will include a path for guests known as the Pixie Dust Trail that guides shoppers through “storytelling neighborhoods” involving Disney, Marvel and Star Wars characters. The store also includes an interactive video library known as the Disney Store Theatre and a limited time Halloween Shop. The Disney Store retail chain, which debuted in 1987, is owned and operated by Disney in North America, Europe and Japan. Disney Store is the retail merchandising arm of Disney Consumer Products, the business segment of The Walt Disney Co. (NYSE:DIS) and its affiliates. There are currently more than 200 Disney Store locations in North America; more than 40 Disney Store locations in Japan; and more than 100 Disney Store locations in Belgium, Denmark, France, Ireland, Italy, Portugal, Spain and the United Kingdom.

October 14, 2014

Florida Retail Southeast

HFF Brokers $32.8M Sale of Shopping Center in Destin

by John Nelson October 14, 2014

DESTIN, FLA. — HFF has brokered the $32.8 million sale of the Shoppes at Paradise Isle, a 171,837-square-foot retail power center in Destin. Located at 34940 Emerald Coast Parkway, the shopping center is 89.7 percent leased to tenants such as Best Buy, Big Lots, Michaels, PetSmart, Ulta Beauty and Office Depot. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Weingarten Realty Investors, in the transaction. Stoltz Real Estate Partners purchased the center through its fifth U.S. diversified fund.

October 14, 2014

Retail South Carolina Southeast

Cassidy Turley Arranges $5M Sale of Catawba Commons in Metro Charlotte

by John Nelson October 14, 2014

INDIAN LAND, S.C. — Cassidy Turley has brokered the $5 million sale of Catawba Commons, a 40,261-square-foot, Food Lion-anchored shopping center located at 8175 Charlotte Highway in Indian Land, part of the Charlotte MSA. The property was fully leased at the time of sale. Egan Family Partnership purchased the asset from Indian Land-FL LLC. Sam Young, Jared Londry and Rob Cochran of Cassidy Turley represented the seller.

October 14, 2014

Midwest Missouri Retail

Hilliker Corp. Arranges Lease for Bridal Shop in St. Louis

by Danielle Everson October 13, 2014

ST. LOUIS — Hilliker Corp. has arranged the first of three leases at former flooring stores in St. Louis. The three locations include an 8,000-square-foot building at 14336 Manchester Road, a 10,000-square-foot building at 1185 Veterans Memorial Drive, and a 22,000-square-foot building at 5244-52 S. Lindbergh Blvd. Sincerely Yours Bridal will occupy space in the 8,000–square-foot building, which will be divided into two retail spaces with 5,000 square feet still available for lease. The bridal shop is set to open by the end of this year. Hilliker Corp. broker Frank Yocum represented the landlord NICI II LLC, formerly Georgia Carpet Outlet in the leasing of the 2,900-square-foot space. Mark Kornfeld of the Sansone Group represented the tenant, Enchanted Enterprises LLC, which will do business as Sincerely Yours Bridal.

October 13, 2014

California Retail Western

Bloomingdale’s Opens at Stanford Shopping Center in Palo Alto

by Nellie Day October 13, 2014

PALO ALTO, CALIF. — Bloomingdale’s has opened a 125,000 square-foot store at Stanford Shopping Center in Palo Alto. The three-level store contains 68 designer shops, more than 100 new brands. The new store will anchor the northeast side of the mall as part of a multi-phase renovation of the shopping center.

October 13, 2014

Connecticut Loans Northeast Retail

NorthMarq Capital Secures $24M Refinancing for Connecticut Shopping Center

by Amy Works October 13, 2014

NEWINGTON, CONN. — NorthMarq Capital has secured $24 million to refinance Newington Commons Shopping Center located at 196 Kitts Lane in Newington. The 189,864-square-foot shopping center is tenanted by Stop & Shop, Bob’s Stores, Party City, Petco, Planet Fitness and Michaels. The 10-year loan features two years of interest-only payment and a 30-year amortization schedule. Keith Braddish of NorthMarq Capital’s New York office arranged the financing for the borrower through NorthMarq’s relationship with a CMBS lender.

October 13, 2014

New York Northeast Retail

Urstadt Biddle Properties Acquires Majority Equity Interest in McLean Shopping Center

by Amy Works October 13, 2014

YONKERS, N.Y. — A wholly owned subsidiary of Urstadt Biddle Properties Inc. has acquired a 51 percent equity interest in a joint venture that owns McLean Plaza Shopping Center in Yonkers for $7.8 million. Built in 1982, the 57,000-square-foot center is occupied by a 35,000-square-foot A&P Supermarket, other tenants includes Duane Reade pharmacy, an E-Z Pass Service Center, Dunkin’ Donuts and Ridgewood Savings Bank. The purchase price is subject to the company assuming its share of a $2.78 million first mortgage payable that encumbers the shopping center. The company purchased its interest from an affiliate of The Great Atlantic & Pacific Tea Company (A&P), which is a tenant at the shopping center. In conjunction with the purchase, A&P modified its lease and extended the initial term until 2034. The remaining 49 percent of the joint venture is owned by entities owned by the two real estate families that originally developed the shopping center with A&P.

October 13, 2014

Alabama Retail Southeast

Merchant Retail Partners Breaks Ground on Expansion of Alabama Shopping Center

by John Nelson October 13, 2014

CULLMAN, ALA. — Birmingham, Ala.-based Merchants Retail Partners has broken ground on the expansion of Cullman Shopping Center, bringing the retail asset to more than 325,000 square feet. New tenants coming to the center include Publix, PetSmart and a custom-designed Dick’s Sporting Goods. All three tenants are new entrants to the city of Cullman. Existing tenants at the shopping center include Belk, Books-A-Million and Shoe Dept.

October 13, 2014

Retail Southeast Tennessee

Four Springs Capital Buys Industrial, Retail Properties for $34M

by John Nelson October 13, 2014

LAKE COMO, N.J. — Four Springs Capital Trust, a privately traded REIT, has purchased five properties in the Southeast and Midwest for a combined $34 million. The assets include a 71,917-square-foot Academy Sports + Outdoors in Mt. Juliet, Tenn.; a 71,514-square-foot Academy Sports + Outdoors in Jonesboro, Ark.; two 9,026-square-foot Dollar Generals located in Yulee and Middleburg, Fla.; and a 226,756-square-foot industrial asset leased to Gander Mountain Co. Inc. in Lebanon, Ind. The properties are all subject to long-term triple net leases.

October 13, 2014

Retail Texas

America’s Best Contacts & Eyeglasses Leases Retail Space in Metro Dallas

by Haisten Willis October 10, 2014

GRAPEVINE, TEXAS — America’s Best Contacts & Eyeglasses has leased a 4,610-square-foot space at Grapevine Towne Center, located at 1217 W. Highway 114 in Grapevine, a suburb of Dallas. Other tenants at the location include Target, Ross Dress for Less, Bealls, Office Depot and Cost Plus World Market. America’s Best Contacts & Eyeglasses is headquartered in metro Atlanta and has more than 350 locations across the United States. Dawn Greiner and Ryan Johnson of SRS Real Estate Partners, along with Kathryn Bieber Knoll of Cassidy Turley, represented the tenant in the transaction. Matt Luedtke of The Weitzman Group represented the landlord, Grapevine/Tate Joint Venture.

October 10, 2014

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