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AcquisitionsDevelopmentRetailSouth CarolinaSoutheast

Reedy River Retail Arranges Land Sale in Upstate South Carolina for Publix-Anchored Retail Center

by John Nelson

MAULDIN, S.C. — Reedy River Retail at SVN Blackstream has arranged the acquisition of a 10.9-acre development site located at 1116 Ashmore Bridge Road in Mauldin, roughly 10 miles south of Greenville, S.C. The buyer, Atlanta-based Venture South Investments, plans to develop a Publix-anchored shopping center at the site. Dustin Tenney and Daniel Holloway of Reedy River Retail represented the buyer in the $4.6 million transaction. Plans for the site include the development of a 63,000-square-foot retail center anchored by a 45,000-square-foot Publix grocery store, as well as two outparcels. A construction timeline was not disclosed.

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Leasing ActivityNew YorkNortheastRetail

Apple Cinemas Signs 80,000 SF Retail Lease in White Plains, New York

by Taylor Williams

WHITE PLAINS, N.Y. — Apple Cinemas has signed an 80,000-square-foot retail lease in White Plains, a northern suburb of New York City. Apple Cinemas will backfill a space that formerly housed a Showcase Cinema Deluxe theater. The new theater will offer stadium recliner seats, digital projection and sound capacities and food-and-beverage options, including burger concept BurgerFi. Don Mace of metro Boston-based brokerage firm KeyPoint Partners represented Apple Cinemas in the lease negotiations.

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4000 Union Pacific Ave, Commerce, CA
ArizonaCaliforniaCompany NewsNevadaRetailTexasTop StoriesWestern

Deep-Discount Retailer 99 Cents Only to Close All 371 Store Locations

by Jeff Shaw

COMMERCE, CALIF. — 99 Cents Only Stores LLC has announced plans to close all 371 of its stores and wind down business operations. The company has entered into an agreement with Hilco Global to liquidate all merchandise and dispose of fixtures, furnishings and equipment at the stores. Sales under this agreement are expected to begin today. 99 Cents Only was founded in 1982 as a deep-discount retailer where every item cost less than a dollar. The company is headquartered in the southeast Los Angeles suburb of Commerce, and currently operates stores in California, Texas, Arizona and Nevada. The company consulted its financial and legal advisors to find a way to continue operating, but ultimately decided the wind-down was necessary and the best way to maximize the value of its assets. Hilco Real Estate will manage the sale of the company’s owned and leased real estate assets. The company has appointed Chris Wells, managing director at Alvarez & Marsal, as chief restructuring officer. Additionally, Mike Simoncic, interim CEO of 99 Cents Only and managing director at Alvarez & Marsal, will step down. “This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” said Simoncic. “Unfortunately, the …

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AcquisitionsNorth CarolinaRetailSoutheast

Foundry Commercial Purchases Shopton Square Retail Center in Metro Charlotte

by John Nelson

BELMONT, N.C. — Orlando-based Foundry Commercial has purchased Shopton Square, a 24,250-square-foot, unanchored retail center in Belmont, a southern suburb of Charlotte. The center was fully leased to 13 tenants at the time of sale. The seller and sales price were not disclosed. Shopton Square was originally developed and leased by the real estate arm of grocer Food Lion. The acquisition of Shopton Square marks the first for Foundry Commercial’s Retail Investment Platform, which was launched last year and prioritizes necessity-based retail properties.

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GeorgiaLeasing ActivityMixed-UseRetailSoutheast

Construction Resources to Open Design Center at Westside Paper Development in Atlanta

by John Nelson

ATLANTA — Construction Resources, a distributor of home improvement products, plans to open a new design center at Westside Paper, a mixed-use development located at 950 W. Marietta St. in Atlanta’s West Midtown district. The center, which is set to open early next year, will be the first location to feature all of Construction Resources’ products in a single location. Westbridge and FCP co-developed and own Westside Paper, which is an adaptive reuse of a 70-year-old paper mill. Brad Pope of JLL represented Construction Resources in the lease transaction, and Shelbi Bodner with Bridger Properties represented the landlord. Other tenants at Westside Paper include El Santo Gallo, Pancake Social, Elsewhere Greenhouse, Bar Driver, Northern China Eatery, Ancestral Bottle Shop & Market and King of Pops.

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Leasing ActivityRestaurantRetailTexas

Chinese Hotpot Restaurant Signs Two Leases Totaling 12,543 SF in Texas

by Taylor Williams

HOUSTON AND CARROLLTON, TEXAS — Shoo Loong Kan has signed two leases in Texas, marking the first locations in the state for the Chinese hotpot concept. Plans include a 6,213-square-foot restaurant at West on West in Houston, as well as a 6,330-square-foot restaurant in the northern Dallas metro of Carrollton. Michael Pittman II, Michael Burgower and Rachel Granstrom of Cushman & Wakefield represented the tenant in the lease negotiations.

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Leasing ActivityRetailSoutheastVirginia

Three Tenants to Join Haymarket Village Center in Northern Virginia, Six Renew Leases

by John Nelson

HAYMARKET, VA. — Three new tenants have signed leases to join Haymarket Village Center, a 256,856-square-foot retail center situated about 38 miles west of Washington, D.C. Red Bank, N.J.-based First National Realty Partners (FNRP) is the landlord. The leasing deals with Cin Dental (1,824 square feet), Nova Patient Care (1,600 square feet), and BeBop (1,575 square feet) will bring the retail center to full occupancy. FNRP has also secured lease renewals with six existing tenants, including Divine Nail Spa, Jersey Mike’s Subs, Starbucks Coffee, Smoothie King, Sports Clips and Verizon Wireless. FNRP purchased Haymarket Village Center in 2018 for $34.5 million.

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2021-Newmark-Ave-Coos-Bay-OR
AcquisitionsOregonRestaurantRetailWestern

AlpHubbard Acquires Burger King-Occupied Restaurant Building in Coos Bay, Oregon for $1.9M

by Amy Works

COOS BAY, ORE. — AlpHubbard LLC has purchased a restaurant property, located at 2021 Newmark Ave. in Coos Bay, from Ternik LLC for $1.9 million. Burger King occupies the 2,824-square-foot freestanding drive-thru building, which was constructed in 1992. Todd VanDomelen and Mike Brown of Portland, Ore.-based Norris & Steven Inc. represented the buyer, while Clayton Brown of Marcus & Millichap represented the seller in the deal. Coos Bay is a coastal city approximately 100 miles southwest of Eugene.

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AcquisitionsIllinoisMidwestRetail

Mid-America Arranges Sale of 68,121 SF North & Clybourn Retail Property in Chicago

by Kristin Harlow

CHICAGO — Mid-America Real Estate Corp. has arranged the sale of North & Clybourn, a 68,121-square-foot retail center in Chicago’s Lincoln Park neighborhood, for an undisclosed price. North & Clybourn is anchored by Crate & Barrel and The Container Store, which have occupied the property for 25 years. Additional tenants include Potbelly, LensCrafters and Sweetgreen. Joe Girardi and Stan Nitzberg of Mid-America brokered the sale on behalf of the private seller. Hines U.S. Property Partners was the buyer.

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