Retail

Primark to Open 54,562 SF Store at Queens Center

by Taylor Williams March 2, 2023

NEW YORK CITY — Primark, an Irish apparel brand, will open a 54,562-square-foot, multi-level store at Queens Center, a shopping, dining and entertainment destination located in the borough’s Elmhurst neighborhood. An official opening date was not released. Other retailers at Queens Center include Apple, Adidas, Champs Sports, Macy’s, Pandora, Sephora and Victoria’s Secret, and the restaurant roster features Chick-fil-A, Shake Shack and The Cheesecake Factory. Los Angeles-based Macerich owns Queens Center.

March 2, 2023

Company News Restaurant Retail Texas

Reports: Corner Bakery Files for Chapter 11 Bankruptcy

by Taylor Williams March 2, 2023

DALLAS — Corner Bakery, a national restaurant chain based in Dallas, has filed for Chapter 11 bankruptcy protection in the Delaware Bankruptcy Court after defaulting on its loans last year, according to reports from multiple media outlets, including The Dallas Morning News. The chain cited its reliance on traditional office workers seeking fast casual or grab-and-go meals, which has yet to return to pre-pandemic levels in many areas, as a key driver behind the move. Philadelphia-based Pandya Restaurant Growth Brands purchased Corner Bakery, which currently operates 140 locations in 20 states, in October 2020. Prior to its acquisition by Pandya, the chain was owned by Atlanta-based private equity firm Roark Capital Group.

March 2, 2023

Leasing Activity Retail Texas

Corporate Fitness Solutions Signs 8,385 SF Industrial Lease Renewal in Addison, Texas

by Taylor Williams March 2, 2023

ADDISON, TEXAS — Corporate Fitness Solutions has signed an 8,385-square-foot industrial lease renewal in the northern Dallas suburb of Addison. According to LoopNet Inc., the property at 4950 Keller Springs Road was built in 1980 and totals 60,118 square feet. Adam Curran of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Parkway Ltd.

March 2, 2023

Leasing Activity New York Northeast Retail

Primark to Open 54,562 SF Store at Queens Center

by Taylor Williams March 2, 2023

March 2, 2023

Development Midwest Missouri Mixed-Use Multifamily Office Restaurant Retail Top Stories Uncategorized

Brain Group, Mercier Street Begin $250M Mixed-Use Redevelopment Project at Former Middle and High School in Kansas City

by Jaime Lackey February 28, 2023

KANSAS CITY, MO. — Co-developers Brain Group and Mercier Street are underway on the conversion of the former Westport Middle and Westport High School campuses in Kansas City into Park 39, a $250 million mixed-use development. The live-work-play campus will be situated on 16 acres at 39th and McGee streets in the city’s Midtown district. Anchoring the project is The Residences at Park 39, a 138-unit apartment community within the four-story former Westport High School. Upon completion, The Residences will include flexible work areas, a fitness center and mailroom, auditorium transformed into modules, conference rooms and library and event spaces for groups large and small. Individual residences will have open floor plans with high ceilings and modern finishes for kitchens, bathrooms and living areas. Each unit will have its own washer and dryer and will range from 400 square feet to 1,600 square feet in size, with expected monthly rents ranging from $950 to $2,000. The building’s new infrastructure will include smart technology and updated electrical, plumbing and fire alarm and protection systems. The original brick-and-stone façade and the front entry of the high school’s original 1908-era building are being preserved and restored, as are the original hardwood floors and …

February 28, 2023

Acquisitions Florida Retail Southeast

Franklin Street Arranges $7.2M Sale of Metro Tampa Retail Property Fully Leased to Bealls

by John Nelson February 28, 2023

NEW PORT RICHEY, FLA. — Franklin Street has arranged the sale of a 104,201-square-foot, single-tenant retail property located in New Port Richey, roughly 40 miles northwest of Tampa. Built in 1987 and situated within the Pasco Square shopping center, the building is fully occupied by retailer Bealls. Grant Equities LLC acquired the property for $7.2 million. Bryan Belk, John Tennant and Zack McNamara of Franklin Street represented the seller, an affiliate of Vanguard Associates Inc., in the transaction. McNamara previously negotiated a new, long-term lease with Bealls on behalf of the landlord, and Michael Conlon of Franklin Street Insurance Services secured the property, casualty and flood insurance policies on behalf of the buyer.

February 28, 2023

Acquisitions Florida Retail Southeast

SRS Negotiates $1.5M Sale of Panama City Beach Store Leased to Green Dragon Cannabis

by John Nelson February 28, 2023

PANAMA CITY BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $1.5 million sale of a retail property in Panama City Beach triple-net leased to Green Dragon, a chain of retail cannabis dispensaries in Florida and Colorado. The 5,164-square-foot store is located at 917 Harrison Ave. and has a new 10-year lease in place. Patrick Nutt, William Wamble and Daniel Becker of SRS represented the seller, a Florida-based private investor, as well as the buyer, a private 1031 exchange buyer, in the transaction. Both parties requested anonymity. The sale of the Panama City Beach Green Dragon is the 17th transaction of a cannabis dispensary that SRS has brokered in the state of Florida, for a total of just under $50 million.

February 28, 2023

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $4.6M Sale of Retail Center in Hammond, Indiana

by Kristin Harlow February 28, 2023

HAMMOND, IND. — Marcus & Millichap has arranged the $4.6 million sale of a 14,158-square-foot retail center in Hammond, a city in Northwest Indiana. Built in 2017, the property is located at 1001 5th Ave. and is home to retail and medical tenants, including American Renal Associates. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the seller, a developer based in Hobart, Ind. The property sold to a 1031 exchange investor.

February 28, 2023

Acquisitions Illinois Midwest Retail

Belle Tire Distributors Buys Retail Development Site in Hoffman Estates, Illinois

by Kristin Harlow February 28, 2023

HOFFMAN ESTATES, ILL. — Belle Tire Distributors has purchased a 1.7-acre lot in the Chicago suburb of Hoffman Estates for $1 million. Rick Scardino of Lee & Associates represented the seller, Prairie Point Center Development LLC c/o Conor Commercial. Dave Chopp of DRC Realty represented Belle Tire.

February 28, 2023

Acquisitions Retail Texas

JLL Negotiates Sale of 43,134 SF Shopping Center in Metro Dallas

by Taylor Williams February 28, 2023

ALLEN, TEXAS — JLL has negotiated the sale of Twin Creeks Marketplace, a 43,134-square-foot shopping center located in the northeastern Dallas suburb of Allen. Sprouts Farmers Market anchors the center, which was built in 2016 and was fully leased at the time of sale. Other tenants include Starbucks, Verizon Wireless, ATI Physical Therapy and Advancial. Chris Gerard, Adam Howells, Caroline Binning, Pauli Kerr and Cole Sutter of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.

February 28, 2023

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