CENTER VALLEY, PA. — Five Guys Burgers & Fries will open a 2,407-square-foot restaurant at Promenade Saucon Valley in Center Valley, an unincorporated area located about 50 miles north of Philadelphia. The center was formerly known as The Promenade Shops at Saucon Valley. Scheduled to open this fall, the restaurant will be situated between the stores of European Wax Center and uBreakiFix. Five Guys’ portfolio currently includes more than 1,700 restaurants globally.
LAS VEGAS — Partners Capital and CNR Retail have released plans to convert a 100,000-square-foot office complex, located at 2500-2550 Paseo Verde Parkway in Las Vegas’ Green Valley Ranch neighborhood, into an artisanal, food-driven, open-air lifestyle retail center. Dubbed The Cliff, the $30 million adaptive reuse development will offer 25 retail spaces, ranging from 1,800 square feet to 17,000 square feet; a central bar; a 26,000-square-foot covered outdoor dining lounge with communal meeting spaces; live performance area; fire pits; kiosks; and public art installations. The development team has also received approval of a tavern gaming license that would allow slot machines and small games of chance at one or more of the center’s pubs. The joint venture acquired the property in August 2023 for $17.2 million in an off-market transaction. Built in 2000, the property was 80 percent leased to office tenants at the time of sale. Pending final approval from the city, construction is scheduled to begin in October for completion in second-quarter 2025. AO Architects is serving as architect for the project.
CORONA, CALIF. — Pacific Petroleum Inc. has acquired Main Street Village, a retail center in Corona, from LJZ Corona LLC for $7.8 million. Located at 135, 175 and 265 E. Ontario Ave. in the Inland Empire, Main Street Village features 20,000 square feet of retail space. Alan Krueger and Vanessa Haddad of CBRE represented the all-cash buyer and the seller in the deal.
LOS ANGELES — CIM Group has opened The Jayne, a six-story multifamily building at 2555 S. Mansfield Ave. in Los Angeles’ West Adams neighborhood. The Jayne offers 69 apartments, with six units designated as affordable, and 5,453 square feet of ground-floor retail space. The building features studio and one-bedroom floorplans with in-unit laundry and contemporary design elements. Community amenities include outdoor gathering spaces, including a second-floor deck with seating and a sixth-floor deck with barbecue grills, lounge chairs and high-top tables and chairs. Other amenities include a fitness center, bike racks, storage and Amazon lockers.
PFLUGERVILLE, TEXAS — Daiso has signed an 8,500-square-foot retail lease at Stone Hill Town Center in the northern Austin suburb of Pflugerville. The Japanese retailer of household and kitchenware products is backfilling a space formerly occupied by Kirkland’s Home and is targeting a fourth-quarter opening. Scott Espensen of Venture Commercial Real Estate represented Daiso in the lease negotiations. Houston-based NewQuest Properties owns Stone Hill Town Center.
Ashkenazy Acquisition Corp. Welcomes New Tenants to Shopping Center in New York’s Westchester County
WESTCHESTER, N.Y. — New York City-based owner-operator Ashkenazy Acquisition Corp. has welcomed new tenants to Vernon Hills Village in Westchester County, located north of New York City. New tenants at Vernon Hills Village include Nike, Sephora, Lululemon, Pottery Barn, Ever/Body, Sweetgreen, Serafina and Starbucks. The center is now fully leased.
SPARKS AND RENO, NEV. — Dornin Investment Group has acquired a 20-building portfolio in Sparks and Reno for approximately $70 million. Totaling 413,172 square feet, the portfolio includes light industrial, retail and medical office properties. The majority of the buildings were constructed between 1977 and 1991, with retail assets built in 2005 to 2006. The portfolio collectively has more than 180 total tenants with a median size of 1,640 square feet. The office buildout of the warehouse units is 21.7 percent. The industrial buildings offer clear heights ranging from 12 feet to 16 feet. Mark Nicoletti, Maxwell Shapiro and Julia Lewitt of Allen Matkins provided legal expertise in the transaction. Bill Bernard and Tami Haworth of Stewart Title provided title and escrow services.
PEORIA, ARIZ. — Phoenix-based Western Retail Advisors has brokered the sale of 83 Marketplace, a newly built retail center located on the corner of 83rd Avenue and Happy Valley Road in Peoria, a suburb northwest of Phoenix. A franchisee of Hawaii-based Seven Brothers Burgers acquired the asset for $11.1 million. Developed by Scottsdale-based Cavan Cos., 83 Marketplace features three buildings offering a total of 19,800 square feet. The buyer plans to open a Seven Brothers restaurant concept at the corner of the center. Other tenants of the property include Bourbon & Bones, The Stetson Social, F45 Training, Herbal Nail Bar, Salon Blissful and Heartland Dental. Brian Gausden and Jake McClaughry of Western Retail Advisors represented the seller, Cavan Cos., while Scott Johnson of Omni Commercial represented the buyer in the transaction.
SAN FRANCISCO — Ingka Centres has opened Saluhall, a food hall at San Francisco Meeting Place largely focused on plant-based vendors. Totaling 23,000 square feet, the food hall offers a capacity for 450 seats, bars and five independent food vendors. It will operate seven days a week. Designed by Stiff + Trevillion, the two-story Saluhall features Smörgåsland, an in-house bakery restaurant; Cooking Skola, which offers cooking lessons and demonstrations; La Venganza; Casa Borinqueña; Curry Up Now; Momo Noodle; and Kayma. The majority of restaurants and eateries offer plant-based menus. KERB will operate Saluhall, which means food hall in Swedish. Ingka Centres acquired 945 Market Street in September 2020 and transformed the mall into a destination anchored by a new-format IKEA, which opened in August 2023. The gross leasable area of the meeting place is approximately 256,000 square feet, with Saluhall complemented by Ingka Centres’ Hej! Workshop with Industrious, a flexible working concept. Ingka Centres is part of the same parent company, Ingka Group, as IKEA.
CHARLOTTE, N.C. — Wegmans Food Markets Inc., a Rochester, N.Y.-based grocer, plans to open a 110,000-square-foot store in Charlotte. Located along North Community House Road, the grocery store will be situated within Ballantyne, Northwood Investors’ 2,000-acre master-planned development on the south side of Charlotte adjacent to the South Carolina border. Wegmans aims to open the new store by the third quarter of 2026. The store will feature all traditional Wegmans departments, including produce, seafood, meat, bakery, deli, cheese and wine and beer. Additional offerings will include Meals2Go and catering, online shopping capabilities, a floral shop, coffee and home goods. The store will also have a market café with indoor and outdoor seating for customers dining at one of Wegmans’ multiple food outlets. “We’ve received hundreds of requests from locals asking for a store in their area, and we’ve spent years looking for exactly the right location,” says Dan Aken, vice president of real estate and store planning at Wegmans. The new Wegmans will be located on the east side of Ballantyne and half a mile from Northwood’s The Bowl at Ballantyne mixed-use development, which is currently under construction. The project will feature a wide array of retail and restaurant tenants …