NEW YORK CITY — Marcus & Millichap has brokered the $7.1 million sale of a 12,320-square-foot office and retail building located at 36-41 Bell Blvd. in the Bayside area of Queens. The two-story building comprises 12 spaces, with retail space on the ground floor and office space on the second floor. Anthony Cerrone and Michael Tuccillo of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
CINCINNATI AND BOISE, IDAHO — Cincinnati-based The Kroger Co. and Boise, Idaho-based Albertsons Cos. Inc. have announced plans to sell an additional 166 grocery stores to C&S Wholesale Grocers in a divestiture package. This marks an amendment to an existing agreement with the buyer, which will now acquire a total of 579 stores in a $2.9 billion deal. The original divestiture package was announced in September of last year, in connection with a proposed merger between Kroger and Albertsons. In February, the Federal Trade Commission (FTC) sued to block Kroger’s $24.6 billion acquisition of Albertsons (which was originally announced October 2022), citing anticompetition concerns. The FTC alleged in a press release that a merger between the companies would create a “monopoly” as well as “lead to lower quality products and services” and threaten “the ability of employees to secure higher wages, better benefits and improved working conditions.” The deal would mark the largest supermarket merger in U.S. history, with Kroger and Albertsons operating thousands of stores nationally. Colorado and Washington also filed measures at the state level to block the merger. The companies hope to assuage the concerns of federal and state antitrust regulators with the enhanced divestiture package. According to …
NORTHLAKE, TEXAS — The Dallas Stars professional hockey team will develop a 225,000-square-foot multi-sport training facility in Northlake, located north of Fort Worth. According to D Magazine, the project is valued at $45 million. Scheduled to open in 2025, the facility will feature two National Hockey League (NHL) regulation sheets of ice and eight basketball courts that can be converted to 16 volleyball courts. Lee Lewis Construction Inc. is the general contractor for the project, which will be the third of its kind for the Stars, joining facilities in Farmers Branch and Lewisville, Texas.
AUSTIN, TEXAS — Austin Pickle Ranch, a locally based operator of pickleball courts, will open a 50,000-square-foot venue along Braker Lane on the city’s north side. The space formerly housed a store for athletic equipment and accessories retailer Golfsmith. The venue will be the second for Austin Pickle Ranch and will feature 16 courts, indoor and outdoor lounge areas and a food-and-beverage component. The opening is scheduled for May.
Four Food-and-Beverage Users, Two Retailers to Join Roster at Tuscan Village in Salem, New Hampshire
SALEM, N.H. — Four new food-and-beverage users and two retailers have joined the tenant roster at Tuscan Village, a mixed-use destination in Salem that is a redevelopment of the former Rockingham Park horseracing complex. Shake Shack, Tavern in the Square, Sweetgreen and The Capital Grille, as well as retailers Drybar and West Elm, have all chosen Tuscan Village for their first locations in New Hampshire. Tentative opening dates were not disclosed.
ESTERO, FLA. — Winter Garden, Fla.-based WMG Development has opened Shoppes at Verdana Village, a 78,000-square-foot retail center in Estero. Publix anchors the southwest Florida property. Other tenants at the center include Publix Liquor, Heartland Dental, The Nail Spa Estero, New York Pizza & Pasta, Dunkin’ and The UPS Store. WMG acquired the land from Cameratta Cos., master developer of the larger Verdana Village development.
COLLIERVILLE, TENN. — JLL Capital Markets has brokered the $12 million sale of Collierville Crossing, a 94,331-square-foot shopping center located in Collierville, roughly 30 miles outside of Memphis. Academy Sports + Outdoors anchors the property, which was built in 2004. Other tenants at the center include La Hacienda, Sakura Japanese Restaurant, America’s Best Contacts and Eyeglasses, Sports Clips and Direct General Insurance. Desco Group and Affinius Capital sold the property to an entity doing business as RCG-Collierville VII LLC. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the sellers in the transaction.
OXNARD, CALIF. — PSRS has arranged $54 million in financing for the acquisition of Esplanade Shopping Center, a grocery-anchored shopping center in Oxnard, approximately 70 miles west of Los Angeles. Kostas Kavayiotidis, Mike Davis and Matthew Farzinpour of PSRS provided the undisclosed borrower with a seven-year loan, including four years of interest-only payments. A life insurance company provided the financing. Walmart, The Home Depot, TJ Maxx, Nordstrom Rack, Bob’s Discount Furniture, Dick’s Sporting Goods, In-N-Out Burger, Chipotle Mexican Grill and BJ’s Restaurant are tenants at the 357,000-square-foot open-air shopping center.
MADISON, WIS. — Planet Fitness has signed a 37,121-square-foot retail lease at West Towne Mall in Madison. Tony Colvin and Adam Dreier of Mid-America Real Estate-Wisconsin LLC represented the tenant. The landlord was an entity doing business as Madison/West Towne LLC.
COLUMBUS, OHIO — Fashion retailer Express Inc. (OTCMKTS: EXPR) has filed for Chapter 11 bankruptcy protection and announced plans to close 107 of its 602 stores. The Columbus-based company’s portfolio includes apparel brands such as Bonobos, Express and UpWest Express. As part of the proceedings, 95 stores under the company’s Express banner will be shuttered alongside all 12 of its UpWest Express locations. Express has been battling with soft consumer demand due to slowing spending patterns and increased price sensitivity in discretionary categories, according to Reuters. Further details on the specific locations set for closure were not provided, but closing sales at the impacted locations are anticipated to begin tomorrow, April 23. Business at all other brick-and-mortar locations and online is expected to continue as usual. Express concurrently announced that it has received a non-binding letter of intent from a consortium of investors led by WHP Global to acquire a substantial majority of the company’s retail stores and operations. The investment group includes an indirect subsidiary of Simon Property Group and Brookfield Properties. WHP Global, which purchased a controlling stake in the parent company of Toys ‘R’ Us in 2021, has held 7.4 percent ownership in Express Inc. since January 2023. …