Retail

CONSTRUCTION ON $45M RETAIL PROJECT SET FOR THIRD QUARTER

by admin May 14, 2013

HOWELL, N.J. — Construction on Tropicana Power Retail Center, a 289,000-square-foot retail center in Howell, will begin in the third quarter. The development is located at 5313 Route 9 and will complement an existing 800,000 square feet of retail space, also along the Route 9 corridor. The owner of the property, AAM Mill LLC, which owns more than 10 million square feet of retail, commercial and residential properties in the U.S., Europe and Morocco, says funding was provided in-house. All options for tenancy at the center are open. Sitar Co. is handling leasing for the project.

May 14, 2013

JLL SECURES $23M ACQUISITION FINANCING FOR WOODLANDS CROSSING

by admin May 14, 2013

THE WOODLANDS, TEXAS — Jones Lang LaSalle's Capital Markets team has arranged $23 million in acquisition financing for Woodlands Crossing, a 125,186-square-foot shopping center located in The Woodlands. Trader Joe's anchors the property, which is fully leased. The property is located at the southeast corner of Woodlands Parkway and Kuykendahl Road. Mike Yavinsky, Jimmy Board, Jon Goldstein and Wesley Boatwright arranged the acquisition financing through Metropolitan Life Insurance Co. on behalf of the borrower, Global Retail Investors LLC, which is managed by Bethesda, Md.-based First Washington Realty Inc.

May 14, 2013

Retail Western

NORDSTROM RACK TO OPEN ON SAN FRANCISCO’S MARKET STREET

by admin May 14, 2013

SAN FRANCISCO – A Nordstrom Rack is set to open on Market Street. The location will be right across from its flagship store in San Francisco. It will occupy 45,495 square feet at 901 Market Street. The discounter will absorb a portion of the building’s ground floor, as well as the entire second floor. It is scheduled to open in spring 2014. Nordstrom was represented by Randy Cantrell of Northwest Retail Partners and Jim Randolph and Danielle Bromstead Cornish & Carey Commercial Newmark Knight Frank (C&CCNKF) Retail. The landlord, an LA-based REIT, was represented by Julie Taylor of C&CCNKF Retail.

May 14, 2013

Retail Southeast

DILLARD'S TO ANCHOR PHASE II OF FREMAUX TOWN CENTER

by admin May 13, 2013

SLIDELL, LA. — Dillard's has signed a 126,000-square-foot lease to anchor the second phase of Fremaux Town Center in Slidell. Phase I of the project, totaling 330,000 square feet, is currently under construction and will be anchored by Kohl's, Dick's Sporting Goods, Michaels, T.J. Maxx and Best Buy. Phase II will include up to 320,000 square feet of additional retail space. Phase I is scheduled for completion in March 2014, with construction of Phase II set to begin around the same time. The second phase is scheduled to open in spring 2015. CBL & Associates Properties Inc. and Stirling Properties are constructing the project.

May 13, 2013

Retail Southeast

FIRST FLOOR & DECOR TO OPEN IN TENNESSEE

by admin May 13, 2013

MEMPHIS, TENN. — Floor and Decor Outlets of America Inc. has signed a 75,134-square-foot lease to open the first Floor & Decor in Tennessee this July. The hard surface flooring store will be located at Perimeter Shopping Center, near the intersection of Interstates 40 and 240 in Memphis. Belz Enterprises Inc. manages the 370,000-square-foot property. The site features a traffic count of more than 100,000 cars per day. The Shopping Center Group represented Floor and Decor Outlets of America Inc. in the transaction.

May 13, 2013

Retail Southeast

LUXURY THEATER IN THE WORKS ALONG GEORGIA 400 IN ATLANTA

by admin May 13, 2013

ATLANTA — Regal Entertainment Group has announced that the soon-to-be constructed Avalon Stadium 12 & RPX along State Route Georgia 400 in Atlanta will include upscale amenities. Every seat will be a recliner with a footrest. The theater will also include table areas for dining, along with a menu that will feature restaurant-quality food and drink selections, as well as traditional cinema snacks. The Avalon lobby will feature a lounge with soft-seating areas and table settings. The theater's largest auditorium will be equipped for the Regal Premium Experience, which will offer the “best in both sight and sound technology,” the company states. The new theater is scheduled to open in 2014.

May 13, 2013

Midwest Retail

REGENCY CENTERS BEGINS $50M RETAIL PROJECT

by admin May 13, 2013

SCHERERVILLE, IND. — Regency Centers Corp., a national owner, operator and developer of grocery-anchored and community shopping centers, has begun construction on the $50 million first phase of Shops on Main in Schererville. Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse will anchor the 147,851-square-foot community shopping center. The center is located at the intersection of two main arterial roads, U.S. Route 41 and Main Street, about 25 miles southeast of Chicago. Some of the anchors are scheduled to open in spring 2014. The first phase will include two retail buildings and five outparcels on 28 acres of the 35-acre site.

May 13, 2013

Northeast Retail

5,250 SF, NET LEASED BUILDING SELLS FOR $2.7M

by admin May 13, 2013

KINGSTON, N.Y. — Marcus & Millichap Real Estate Investment Services has arranged the sale of a 5,250-square-foot Verizon Wireless-occupied property in Kingston for $2.7 million. Judson Kauffman and Glen Kunofsky in Marcus & Millichap’s Manhattan office represented the buyer and seller, both private investors, in the transaction. Verizon Wireless is an outparcel to the Kings Mall, which is anchored by Marshall’s, HomeGoods, and Olive Garden. There are four years remaining on the 10-year, double net lease to Verizon Wireless.

May 13, 2013

Retail Texas

REALTY CAPITAL BROKERS LAND SALE FOR NEW MOVIE THEATER

by admin May 13, 2013

KELLER, TEXAS — Irving-based Realty Capital Management has arranged the sale of approximately nine acres of land in Keller to Moviehouse & Eatery, a dine-in theater concept. The parcel is located on Rufe Snow Drive just south of FM 1709. The approximately 42,000-square-foot theater will include eight upscale auditoriums, reserved seating in electric recliners and a full menu and bar. The new theater will be an addition to Keller Town Center. Construction is slated to begin in the summer and the theater is anticipating opening its doors in summer 2014. Mark Boone of Realty Capital Management represented the seller in the transaction. Debi Carter of Hudson Peters Commercial represented the buyer. Moviehouse & Eatery operates another location in Austin.

May 13, 2013

Retail Texas

FERRARI OF HOUSTON TO OPEN IN THE WOODLANDS

by admin May 13, 2013

THE WOODLANDS, TEXAS — The Woodlands Development Co. (TWDC), a subsidiary of The Howard Hughes Corp., has inked a 5,015-square-foot lease with Ferrari of Houston. The new satellite dealership will open in The Waterway Square District in The Woodlands, located at 1501 Lake Robbins Drive. Pat Moritz of Houston International Realty represented the tenant in the lease transaction. Rip Reynolds of The Howard Hughes Corp. represented TWDC.

May 13, 2013

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