ALBANY, WIS. — Marcus & Millichap has brokered the $1.1 million sale of a 9,100-square-foot retail property occupied by Dollar General in Albany, a city in southern Wisconsin. The net-leased building is located at 614 N. Cincinnati St. Dollar General remains on its original 15-year lease for the location. Mitch Grant and Nicholas Kanich of Marcus & Millichap represented the seller, a limited liability company. The buyer was a private investor based in Arizona.
WESTMINSTER, CALIF. — R.D. Olson has announced the groundbreaking of Bolsa Row Terrace, a new shopping and dining destination in Westminster’s Little Saigon District. Spanning 26,211 square feet, the two-story retail development will feature shopping and dining options overlooking a landscaped courtyard with al fresco bistro seating. The architecture draws inspiration from Vietnam’s pre-war French colonial style, with elements like arches, ironwork, glass storefronts and a clock tower with a traditional mansard roof resembling Bến Thành Market. Completion of Bolsa Row Terrace is scheduled for early 2024. This is R.D. Olson’s second phase of the six-acre project for developer IP Westminster.
PASADENA, CALIF. — PSRS has arranged the a $9.6 million loan to refinance debt on Renaissance Court, a mixed-use community in Pasadena, just northeast of Los Angeles. Renaissance Court offers 41 multifamily units, including one- and two-bedroom apartments and two-bedroom townhomes. The property also includes nine ground-level retail units. Kostas Kavayiotidis arranged the non-recourse loan through a life insurance company. The financing features a 10-year term and 30-year amortization.
ROCKLIN, CALIF. — Circle K has signed a 3,700-square-foot lease at University Square, a 10-acre, mixed-use development currently underway in the Sacramento suburb of Rocklin. Upon completion, the convenience store and gas station will be situated on a site featuring more than 20,000 square feet of retail space and 5,000 square feet of space for quick-service restaurants. LRE & Cos. is the developer and landlord. The project is scheduled for completion in late 2025.
WALPOLE, MASS. — Locally based owner-operator Wilder, in conjunction with an undisclosed partner, has acquired Walpole Mall, a 429,285-square-foot shopping, dining and entertainment destination located roughly 30 miles outside Boston. Tenants at the property include Kohl’s, Aldi, Barnes & Noble, Old Navy, Panera Bread, Aspen Dental, T-Mobile, PetSmart, X Golf, Five Guys and LA Fitness. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners, a division of Boston-based Atlantic Realty, represented the undisclosed seller in the transaction and procured Wilder as the buyer.
BEDFORD, N.H. — Marcus & Millichap has brokered the sale of two retail properties in Bedford, located outside of Manchester in the southern part of the Granite State. The buildings total 17,301 square feet and are net leased to grocer Trader Joe’s and restaurant Friendly Toast. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The duo also procured the buyer. Both parties requested anonymity. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.
HARTFORD, CONN. — Central Rock Gym, a fitness concept centered on indoor rock climbing, has signed a retail lease to open a 22,000-square-foot facility at 99 Shield St. in Hartford. Phil Gagnon of Colliers represented the undisclosed landlord in the lease negotiations. David Dumeer of locally based brokerage firm Goman York represented Central Rock Gym. A tentative opening date was not disclosed.
NEW YORK CITY — Wegmans Food Market has announced plans to open an 87,500-square-foot store at 770 Broadway in Manhattan’s East Village neighborhood. The market, dubbed Wegmans Astor Place, will be located at the base of an office building that Vornado Realty Trust owns. Meta, formerly known as Facebook, occupies the office portion of the property. The store, which is set to open on Oct. 18, will offer made-to-order and packaged foods; ready-to-eat and ready-to-heat options, including a selection of entrees and sides for individuals and families; and a ‘restaurant foods’ section with fresh sushi, salads, sandwiches, soups, pizza and wings. The location will also include an onsite dining room with sushi and oyster bars, which are set to open in early 2024. This store will be Wegman’s second in New York City, following the opening of Wegmans Brooklyn in 2019. “We know our customers can’t wait to come see what we have in store and our employees have been training, in some cases, for over a year to get ready for this day,” says Matt Dailor, the new store’s manager. “Wegmans is a celebration of food and people, and we can’t wait to open the doors on October 18 …
In the wake of the COVID-19 pandemic, Charlotte’s retail segment has experienced a remarkable revitalization, fueled by a convergence of factors that have reinvigorated the city’s economic landscape. With a thriving job market, affordable cost of living and a surge in adaptive reuse, mixed-use and infill projects, Charlotte has become a hotbed for retail activity. As the city emerges from the challenges of the pandemic, it has embraced innovative approaches to urban development, transforming once-vacant spaces into vibrant hubs of commerce. Several macro-economic trends have impacted retail growth in Charlotte. Population growth in the city has spurred an increase in consumer demand, leading to a vibrant retail market. In a May 18 article from the Charlotte Business Journal, it was noted Charlotte added more than 15,000 people to its population count between 2021 and 2022, the nation’s fifth-highest numeric increase during that span, according to the latest estimates from the U.S. Census Bureau. As more people choose to settle in Charlotte, the demand for goods and services has risen, prompting retailers and restaurants to expand their operations and invest in new locations. Additionally, the rise of e-commerce and the shift toward online shopping have compelled retailers in Charlotte to adapt …
DALLAS — The Cheesecake Factory will open a 9,700-square-foot restaurant at The Shops at Highland Village in Dallas. The opening is slated for the fourth quarter. Vince O’Toole of JLL represented the landlord, Poag Development Group, in the lease negotiations. Marc Guth of Blateiss & Schnur represented The Cheesecake Factory. Three new tenants — children’s playland Cheeky Monkeys, Lovesac and Sleep Number — have also either opened recently at The Shops at Highland Village or will do so in the fall.