CHATTANOOGA, TENN. — Four new retail tenants will join Hamilton Place, a 1.2 million-square-foot enclosed shopping mall in Chattanooga. Crunch Fitness will open a 35,000-square-foot location at the property’s former Sears location, and restaurants Texas Roadhouse, Taco Mamacita and Community Pie have also signed leases. Construction on the Crunch Fitness space is scheduled to begin in August, with the opening planned for later this year. Work is currently underway on Community Pie and Taco Mamacita, which will open in July and next year, respectively. Texas Roadhouse is also scheduled to open next year, with construction anticipated to begin later this month. Chattanooga-based CBL Properties is the landlord and purchased the mall’s former Sears building in 2017.
SOUTHLAKE, TEXAS — IKEA will open a small-format store within Park Village shopping center in Southlake, located in the northern-central part of the metroplex. According to local media sources, including NBCDFW, the store will span about 11,000 square feet. The new IKEA will also have space for personalized interior design planning and will serve as a pick-up hub for online purchases. The opening is slated for the fourth quarter. IKEA operates two large-format stores in the metroplex, one in Frisco and the other in Grand Prairie.
THE WOODLANDS, TEXAS — SVN | J. Beard Real Estate – Greater Houston has brokered the sale of a 10,406-square-foot retail building in The Woodlands, about 30 miles north of Houston. Constructed in 1974, the building houses the inline space of Grogan’s Mill Village Center. Jeff Beard of SVN | J. Beard represented the seller, a locally based limited liability company, in the transaction. The Howard Hughes Corp. purchased the asset for an undisclosed price.
MONTVALE, N.J. — The S. Hekemian Group, a locally based developer, has completed Workplace North Market, a 52,000-square-foot office and retail project in Montvale, located near the New York-New Jersey border. The four-story building houses 40,500 square feet of office space and 11,500 square feet of retail space and is located within North Market, a mixed-use redevelopment of the former Mercedes-Benz USA North America headquarters campus. Law firm Beattie Padovano has committed to leasing 20,000 square feet as the anchor tenant.
BELLEVUE, WASH. — T&T Supermarkets has announced plans to open a 76,000-square-foot store in Bellevue, roughly 10 miles east of Seattle. Scheduled to open next summer at Marketplace at Factoria, the store will mark the first U.S. location for the brand. John Booth of Kidder Mathews represented T&T in the leasing negotiations.
Miami is a vivacious city renowned for its scenic beaches, sunny climate and dynamic nightlife. The South Florida city is also a hub for a flourishing retail industry, which serves an eclectic blend of both locals and visitors. Miami’s retail market is characterized by its diversity, with a broad spectrum of retailers ranging from luxurious, high-end boutiques to small, locally owned businesses. This range of retailers is a reflection of the city’s diverse population, which includes a sizable Hispanic community, as well as individuals from all corners of the globe. Consequently, Miami’s retailers must be adept at catering to a wide range of tastes. One of the most notable trends in the Miami retail market in recent years has been the growth of e-commerce. Like many other cities around the world, Miami has seen a significant increase in online shopping. This has presented both challenges and opportunities for retailers in the city. On the one hand, the rise of e-commerce has led to increased competition for brick-and-mortar retailers in Miami. Online retailers such as Amazon and Walmart have made it easier than ever for consumers to shop from the comfort of their own homes, and this has put pressure on …
NASHVILLE, TENN. — Adventurous Journeys Capital Partners (AJ Capital) has signed five new tenants to Nashville Warehouse Co., a mixed-use campus located at the corner of 4th Avenue South and Chestnut Street in the Wedgewood-Houston neighborhood of Nashville. Eatery HERO will lease space beginning this August, and work-focused members club The Malin will open a 16,000-square-foot coworking space beginning this fall. Additionally, contractor Hensel Phelps, talent agency Trend Management and law firm Maynard Nexsen have signed office leases at the mass-timber property. Beginning in July, Hensel Phelps and Maynard Nexsen will occupy 11,220 square feet and 7,600 square feet, respectively. Trend Management will lease 6,800 square feet beginning in December. These leases bring the property—which features 200,000 square feet of office space, public pedestrian spaces, an acre of green space, onsite parking and a fitness center — to 91 percent occupancy.
MIAMI BEACH, FLA. — Eight new retail tenants have signed leases on Lincoln Road in Miami Beach, a South Florida high street that features more than 200 shops, cafés, galleries and restaurants across eight blocks. Paris St. Germain, Habitat Hyett, The Cheesecake Factory, Ecco, BonBon Etc., Osteria da Fortunata, Voyage Luggage and Salt & Straw will open locations at the promenade beginning this summer. Lincoln Road is the most visited open-air retail destination in South Florida, having drawn more than 8 million visitors in 2022.
NEENAH, WIS. — Retailer Five Below has leased 9,504 square feet at 699 S. Green Bay Road in Neenah, a city in eastern Wisconsin. Jon Thoresen of Founders 3 Real Estate Services represented the landlord, an entity doing business as Spring Creek Center II LLC.
NEW YORK CITY — KPG Funds has received a $50 million construction loan for 40 Crosby, a boutique office redevelopment project in the high-end SoHo district of Lower Manhattan. The five-story cast iron building totals 70,000 square feet, including prime retail space on the ground floor with Broadway frontage. KPG plans to rebrand the property as The Crosby upon completion. KPG bought the asset in early 2022 and immediately began planning the redevelopment. Sabal Investment Holdings and GDS Brightstar provided the construction loan. Nick Scribani, Dustin Stolly and Jordy Roeschlaub at Newmark arranged the financing. According to Rod Kritsberg, KPG’s co-founder and chief investment officer, the three-year construction loan will be used to give 40 Crosby a full-building renovation, keeping in line with KPG Funds’ standard to transform it into one of the “most desirable office and retail assets in the neighborhood.” Improvements will consist of a separate entrance on Crosby Street with high-end, pre-built office space and significant capital allocated to the lease-up of the specialty retail space fronting Broadway. The asset offers flexible floorplates to cater to multiple tenants or contiguous floors for a flagship headquarters location. The office space features up to 18-foot ceiling heights, 20 oversized windows bringing …