Retail

CBRE Negotiates Four New Leases at Queen City Quarter Mixed-Use Redevelopment in Uptown Charlotte

by John Nelson March 23, 2023

CHARLOTTE, N.C. — CBRE has arranged four new leases for retailers and restaurants to join Queen City Quarter, a mixed-use redevelopment of the former EpiCentre property in Uptown Charlotte. The multi-level, 302,324-square-foot development is located along College Street and houses World of Beer, Mortimer’s Café & Pub and Bowlero, all of which recently renewed their leases. The new tenants joining Queen City Quarter’s tenant roster include Portal 123, a rotating Instagram museum and immersive art experience; Nostalgia Hollow Co., a locally based coffeeshop and home goods retailer; Cajun Market, a fast-casual Cajun-Creole restaurant; and Super Icy Brothers, a frozen dessert shop. All four concepts plan to open in the second or third quarter. Kaitlyn Fitch, Kivett Williams and Katherine Southard of CBRE handled the lease negotiations on behalf of the landlord, an entity doing business as 210 East Trade Street Holdings LLC. In addition to the leases, CBRE will begin the previously announced renovations and improvements to the property in late spring. Most of the work will be in the property’s 15,462-square-foot plaza and include replacing the pavers along the walkways and installing benches with planters in the main common area. The building’s interior façades on all levels, in addition to …

March 23, 2023

Acquisitions Georgia Retail Southeast

Richmar Properties Sells Covington Square Shopping Center in Metro Atlanta for $13.4M

by John Nelson March 23, 2023

LITHONIA, GA. — Michigan-based Richmar Properties has sold Covington Square, a 144,585-square-foot shopping center in the east Atlanta suburb of Lithonia. Malls-Etc. purchased the property for $13.4 million. Craig Taylor of CBRE represented the seller in the transaction. Built in 1989 at 6152 Covington Highway, Covington Square was renovated in 2021 and was 85 percent leased at the time of sale to tenants such as Planet Fitness, Rainbow Shops, City Gear, Beauty and More, Las Colinas Restaurant and 3D Church.

March 23, 2023

Leasing Activity New York Northeast Retail

Whole Foods to Open 50,000 SF Store Near Rochester on April 12

by Taylor Williams March 23, 2023

BRIGHTON, N.Y. — Whole Foods Market will open a 50,000-square-foot store in the upstate New York community of Brighton on April 12. The location at 2740 Monroe Ave. will be the first in the Rochester area for the Texas-based grocer. The store will offer more than 500 locally sourced items and will feature full-service meat and seafood counters, a bakery, prepared foods section, a selection of more than 200 craft beers.

March 23, 2023

Acquisitions Florida Retail Southeast

Franklin Street Arranges $7.3M Sale of Metro Miami Store Leased to CVS

by John Nelson March 23, 2023

DORAL, FLA. — Franklin Street has arranged the $7.3 million sale of a 14,900-square-foot, single-tenant retail store located at 3750 NW 87th Ave. in Doral, a suburb of Miami. The property was triple-net leased to CVS. Greg Matus, Adam Tiktin and Alex Lazo of Franklin Street, along with Norman Matus of Red Rock Realty, represented the seller, Illinois-based Curfin Property US Inc. Florida-based Goldenberg Investment Group Inc. purchased the property, which was built in 2016.

March 23, 2023

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Brokers $7M Sale of Northern New Jersey Retail Strip Center

by Taylor Williams March 23, 2023

SHORT HILLS, N.J. — Marcus & Millichap has brokered the $7 million sale of a 10,070-square-foot retail strip center in the Northern New Jersey community of Short Hills. Morris Turnpike Strip Center was built in 1959 and is home to tenants such as T-Mobile, Mattress Firm and Alpha Fit Club. Alan Cafiero, David Cafiero and Dean Matuszewicz of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were regionally based limited liability companies that requested anonymity.

March 23, 2023

Acquisitions New York Northeast Retail

RFR, Waterfall Asset Management Acquire 33,000 SF Retail Condo in Manhattan

by Taylor Williams March 23, 2023

NEW YORK CITY — A partnership between two locally based investment firms, RFR and Waterfall Asset Management, has acquired a 33,000-square-foot retail condo located at 2139–2159 Broadway in Manhattan. The space comprises seven suites, several of which are currently vacant, and is situated within The Astor residential building on the Upper West Side. The seller and sales price were not disclosed.

March 23, 2023

Leasing Activity Midwest Missouri Retail

CBL Welcomes New Retailers at West County Center in St. Louis

by Kristin Harlow March 23, 2023

ST. LOUIS — CBL & Associates Properties Inc. has unveiled the names of the retailers opening this spring and summer at West County Center in St. Louis. ALDO, a men’s and women’s footwear company with a French fashion perspective, will open on the first level near Nordstrom in April. The Back Store, which sells mattresses, pillows and accessories, will also open on the first floor in April. Da Picky Vegan, which offers a wide variety of vegetarian and vegan menu items, will open in the food court on the second level in April. Outdoor retailer Gearhead Outfitters will open on the first floor between Nordstrom and Macy’s this summer. Golden Gems, a lifestyle brand that designs and sells accessories, apparel, stationery goods and home décor, will open near Macy’s in April. Love Sac, which opened last year in the common area on level two, is opening a new store on the first floor near Nordstrom this summer. Offline by aerie, which sells activewear, will open near Nordstrom this summer.

March 23, 2023

Acquisitions Retail Texas

SVN | J. Beard Arranges Sale of 3,600 SF Retail Property in Metro Houston

by Taylor Williams March 22, 2023

TOMBALL, TEXAS — SVN | J. Beard Real Estate Greater Houston has arranged the sale of a single-tenant retail property located in Tomball, roughly 35 miles northwest of Houston. Spas Unlimited acquired the 3,600-square-foot building for an undisclosed price. Diana Gaines of SVN | J. Beard represented the private seller in the transaction. Spas Unlimited was self-represented.

March 22, 2023

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 5,443 SF Luxury Retail Building in Chicago

by Kristin Harlow March 22, 2023

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of 1003 N. Rush St., a luxury retail building in Chicago totaling 5,443 square feet. The sales price was undisclosed. The asset features a brand new Vuori store. Vuori is a high fashion brand known for its athletic and performance wear. Joe Girardi and Emily Gadomski of Mid-America represented the seller, an institutional investor. A private family was the buyer.

March 22, 2023

Acquisitions Maryland Retail Southeast

First National Realty Partners Acquires 359,484 SF Shopping Center in Waldorf, Maryland

by John Nelson March 21, 2023

WALDORF, MD. — First National Realty Partners (FNRP) has purchased Waldorf Marketplace, a 359,484-square-foot, grocery-anchored shopping center in Waldorf, about 28 miles south of Washington, D.C. The seller and sales price were not disclosed. The center is anchored by a 58,092-square-foot Safeway grocery store, which has been a tenant at Waldorf Marketplace since 2005. Other tenants include Hobby Lobby, Jared, Petco, Starbucks Coffee, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave’s. FNRP’s other acquisitions in the Mid-Atlantic region include Brandywine Crossing in Maryland and Haymarket Village Center and Promenade at Manassas in Virginia.

March 21, 2023

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