REBusinessOnline

Block & Co. Acquires Net-Leased Restaurant Property in Liberty, Missouri

LIBERTY, MO. — Block & Co. Inc. Realtors has acquired a 2,685-square-foot property occupied by Dickey’s Barbecue Pit in Liberty within metro Kansas City. The purchase price was undisclosed. The net-leased building is located at 600 S. 291 Highway. Block & Co. will serve as property manager. David Block of Block & Co. represented the company in its

Sterling Organization Acquires 94,550 SF Grocery-Anchored Retail Center in Sewell, New Jersey

SEWELL, N.J. — Sterling Organization, a Florida-based private equity firm, has acquired Mill Pond Village, a 94,550-square-foot, grocery-anchored retail center located in the Southern New Jersey community of Sewell. ShopRite is the anchor grocer at the center, which is located approximately 14 miles outside of Philadelphia. The seller was EDENS, a national retail development firm. Jim Galbally, Chris Munley and Colin Behr of JLL brokered the transaction. The property was 95 percent leased at …

New York Life Taps Trademark Property to Manage Redevelopment of North Point Mall in Metro Atlanta

ALPHARETTA, GA. — Trademark Property Co. will oversee the redevelopment of North Point Mall in Alpharetta. According to several media outlets, the previous owner, Brookfield Properties, relinquished ownership back to New York Life Insurance Co. earlier this month. Trademark will also manage and lead the leasing effort for the property.North Point Mall spans 1.3 million square feet and is located near the intersection of Ga. Highway 400 and Encore Parkway, 25 miles north of downtown …

Ziff Real Estate Partners Acquires 41,439 SF Retail Property Near Nashville

HERMITAGE, TENN. — Ziff Real Estate Partners has acquired Jackson’s Courtyard, a 41,439-square-foot retail center in Hermitage, for an undisclosed price. The property is located at 3441 Lebanon Pike, 13 miles east of downtown Nashville. At the time of sale, the property was leased to tenants including Co. Capelli Salon & Spa, Subway, Hermitage Dance Academy and Mirage Nails Salon. The seller was not

Target Reports Same-Store Sales Growth of 17.2 Percent Over Holidays

MINNEAPOLIS — For the November and December holiday season, Target’s comparable sales rose 17.2 percent over the same period last year. Store-originated sales grew 4.2 percent and digital sales grew 102 percent. Store traffic increased 4.3 percent and the average ticket grew by 12.3 percent. The Minneapolis-based retailer also reported that its same-day services, such as order pick-up and drive-up, rose 193 percent.“The momentum in our business continued in the holiday season with …

STC Ventures Receives Approval for 12-Story Mixed-Use Project in Sunnyvale, California

SUNNYVALE, CALIF. — STC Ventures, a joint venture between Sares Regis Group of Northern California and Hunter Properties, has received approval from Sunnyvale Planning Commission to develop a 12-story, mixed-use project at 200 S. Taafee St. within CityLine Sunnyvale.Situated in downtown Sunnyvale, the two-building property will feature 479 apartments, 30,000 square feet of retail space and a new public open area at Redwood Square. The public space will function as a “living room” for …

Phillips Edison Divests of 191,345 SF Sunrise Marketplace in Las Vegas

LAS VEGAS — Cincinnati-based Phillips Edison & Co. has completed the sale of Sunrise Marketplace, a wholly owned neighborhood shopping center in Las Vegas. A Los Angeles-based private investment firm purchased the property for an undisclosed amount to complete a 1031 exchange.Situated on 15.1 acres at the southeast corner of NE Nellis Boulevard and Steward Avenue, Sunrise Marketplace features 191,345 square feet of retail space. At the time of sale, the property was 99 percent leased …

Urban Outfitters Reports 8.4 Decrease in Net Sales to Close 2020, Announces Leadership Changes

PHILADELPHIA — Urban Outfitters (NASDAQ: URBN) reported an 8.4 percent sales decrease for the two months that ended on Dec. 31, 2020 compared with the same period a year earlier.The Philadelphia-based apparel retailer said that lower sales within its brick-and-mortar stores were partially offset by double-digit sales growth across the digital platforms of its family of brands, which includes Free People and Anthropologie Group. For the fiscal year 2020, the company’s net sales declined …

Liberty University to Redevelop Portion of River Ridge Mall in Lynchburg, Virginia

LYNCHBURG, VA. — Liberty University will redevelop the west end of River Ridge, a regional mall in Lynchburg that the university owns. The enclosed shopping mall is located less than one mile from campus. The university will demolish the Macy’s building in the first quarter of this year and plans to turn the area into an open-air shopping center with a food hall. The renovated shopping area will feature higher store elevations and urban-esque storefront designs, as well as an outdoor venue …

Tiktin Real Estate Negotiates $4.9M Sale of Property Leased to 7-Eleven in Metro Orlando

WINTER GARDEN, FLA. — Tiktin Real Estate Investment Services (TREIS) has negotiated the $4.9 million sale of a 4,794-square-foot building leased to 7-Eleven in Winter Garden. The freestanding building is located at 4200 Winter Garden Vineland Road, 16 miles west of downtown Orlando. A Mobil gas station on the property was not included in the sale. Stablewood Properties acquired the property from an entity doing business as 600 East LLC. Adam Tiktin, Alejandro Snyder and Michael Williams of …

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