Retail

Stonecrest Resorts Signs 12 Tenants as Part of Stonecrest Mall Redevelopment in Metro Atlanta

by John Nelson October 3, 2022

STONECREST, GA. — Stonecrest Resorts LLC, developer of the Sears adaptive reuse project at The Mall at Stonecrest in metro Atlanta, has announced 12 new tenants coming to the development. Phase I of the redevelopment project, called Priví, was the arrival of the SeaQuest Interactive Aquarium that opened in November 2021. The second phase of the project is set to open this fall and include Hand & Stone Massage and Facial Spa; Baldwin’s Literary Social Bookstore & Coffee Bar; 3 Degrees Infrared Sauna Suites; The Lions Cage MMA Fight & Fitness Gym; Garden Life Juice Bar & Café; The Original Hot Dog Factory; Picasso’s Splat Room; Naturally Gifted Treasures & Finds; and Bricks 4 Kidz. In addition to the new shops and restaurants, Phase II will include 6,000 square feet of event space, a coworking space, studios and a fine art gallery. Construction of Phase III and the development of Phase IV will continue this winter, with a planned opening of an upper-level food hall in summer 2023 and the TRYP by Wyndham hotel coming on line in 2024. Once fully developed, Priví will be a family entertainment and lifestyle destination featuring over 200,000 square feet of eateries, shops, services, …

October 3, 2022

Acquisitions Florida Retail Southeast

Matthews Brokers Sale of 40,376 SF Blanding Square Shopping Center in Metro Jacksonville

by John Nelson October 3, 2022

ORANGE PARK, FLA. — Matthews Real Estate Investment Services has brokered the sale of Blanding Square, a 40,376-square-foot retail center located at 110 Blanding Blvd. in Orange Park. The value-add property was stabilized at the time of sale to tenants paying below-market rents, according to Matthews. Johnny Blue Craig and Tripp Brown of Matthews represented the undisclosed seller, a private investor, in the transaction. The unnamed, South Florida-based buyer has the option to expand the shopping center by adding an outparcel at the corner of Blanding Boulevard and Jefferson Avenue. Additional land behind the center with frontage on Jefferson Avenue is also available for further development and expansion.

October 3, 2022

Acquisitions Colorado Net Lease Retail Western

Blue West Capital Negotiates $4.4M Sale of Firestone-Occupied Property in Colorado Springs

by Amy Works October 3, 2022

COLORADO SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant, net-leased retail building located at 1358 Republic Drive in Colorado Springs. A private REIT sold the asset to a Florida-based investor for $4.4 million. Firestone Complete Auto Care occupies the 6,116-square-foot building, which was constructed in 2021, on a long-term, absolute triple-net lease that includes rental increases every five years. Brandon Gayeski and Zach Wright of Blue West Capital represented the seller in the transaction.

October 3, 2022

Acquisitions Midwest Minnesota Retail

CBRE Negotiates Sale of 446,308 SF Retail Power Center in Roseville, Minnesota

by Kristin Harlow October 3, 2022

ROSEVILLE, MINN. — CBRE has negotiated the sale of Har Mar Mall in Roseville, a suburb just north of the Twin Cities. The sales price was undisclosed. Located at 2100 Snelling Ave., the retail power center spans 446,308 square feet and is home to tenants such as Cub Foods, Burlington, Barnes & Noble, Marshalls, HomeGoods, Michaels and K&G Fashion Superstore. CBRE represented the seller, Clarion Partners. Fidelis was the buyer.

October 3, 2022

Indiana Leasing Activity Midwest Retail

Kinship PACE of Indiana Signs Leases for Two New Locations in Jeffersonville, Kokomo

by Kristin Harlow October 3, 2022

JEFFERSONVILLE AND KOKOMO, IND. — Kinship PACE of Indiana LLC has signed two 15-year leases for new locations in Jeffersonville and Kokomo. The tenant will occupy 16,261 square feet within Jeffersonville’s Youngstown shopping center and 14,056 square feet within Kokomo’s Southway Plaza shopping center. PACE stands for Program of All-Inclusive Care for the Elderly. Donna Korn and Beau Ladwig of Cushman & Wakefield along with E.P. Scherer of Cushman & Wakefield/Commercial Kentucky represented PACE in the Jeffersonville lease. Pearson 2016 Equity Inc. owns Youngstown. Korn and Ladwig, along with colleague Gerry Dick, represented the tenant in the Kokomo lease. Southway Plaza LLC is the landlord for the property.

October 3, 2022

Acquisitions Illinois Midwest NAI Retail

NAI Miami Arranges $4M Sale of Former Midas Total Car Care Center in Chicago

by Kristin Harlow October 3, 2022

CHICAGO — NAI Miami has arranged the sale of a former Midas Total Car Care center located at 158 W. Grand Ave. in Chicago for $4 million. Jeremy Larkin and Joseph Gallaher of NAI Miami, along with Elan Rasansky and Al Rodenbostel of ARC Real Estate Group, represented the seller, TBC Corp. The buyer, Friedman Properties Ltd., developed the adjacent Moxy Hotel. The sales price equates to roughly $470 per square foot.

October 3, 2022

California Development Retail Top Stories Western

BARDAS, Bain Capital Plan $600M Redevelopment of Hollywood TV Studio

by Taylor Williams October 3, 2022

LOS ANGELES — A joint venture between two developers, locally based firm BARDAS Investment Group and Boston-based Bain Capital Real Estate, has unveiled plans for the $600 million redevelopment of a former TV studio at 6311 Romaine St. in the Hollywood neighborhood of Los Angeles. The facility, which currently spans 6.4 acres and two full city blocks, was originally constructed in phases between 1930 and 1966. Over the years, the site, which currently features 183,000 square feet of creative office and studio space, has housed the headquarters operations of Technicolor and Metro Pictures Corp. The redevelopment would convert the facility into an urban studio campus totaling 620,000 square feet. As part of the redevelopment, the joint venture plans to preserve several of the facility’s buildings that were originally constructed at the height of Technicolor’s success. New production facilities will be meshed with reimagined office space, and the facility will be rebranded as Echelon Television Center. More specifically, the original art deco facade on the northern block will enclose a studio lot. This space will be bookended by a new mid-rise creative office building with private outdoor terraces framing views of the Hollywood Hills. The new construction will also replace a …

October 3, 2022

Grocery-Outlet-French-Valley-Marketplace-French-Valley-CA

Acquisitions California Restaurant Retail Western

SRS Brokers $17.3M Sale of Three Retail Outparcels at French Valley Marketplace in California

by Amy Works September 30, 2022

FRENCH VALLEY, CALIF. — SRS Real Estate Partners has arranged the portfolio sale of three retail properties that are outparcels to French Valley Marketplace, located at 35958 Winchester Road in French Valley, located in the Inland Empire. A Southern California-based private developer sold the assets to a Southern California-based private investor for $17.3 million in an all-cash transaction. The three properties are: A 16,000-square-foot Grocery Outlet-occupied property that opened in late 2021. An 11,115-square-foot new construction property, which Rite Aid will occupy in late 2022. A 5,559-square-foot building currently under construction that Chipotle and Quick Quack Car Wash will occupy in spring 2023. Matthew Mousavi, Patrick Luther and Jack Cornell of SRS Real Estate Partners’ National Net Lease Group represented the seller and sourced the buyer in the deal.

September 30, 2022

Acquisitions Loans North Carolina Retail Southeast

Northmarq Arranges $21M Acquisition Loan for Bradford Square Shopping Center in Cary, North Carolina

by John Nelson September 30, 2022

CARY, N.C. — Northmarq has arranged a $21 million acquisition loan for Bradford Square, a 78,628-square-foot shopping center located at 1020 Bradford Plaza Way in Cary, a suburb of Raleigh. David Garfinkel of Northmarq’s St. Louis office arranged the permanent, fixed-rate loan through a life insurance company on behalf of the borrower, St. Louis-based real estate investment firm National Real Estate Management. The seller was not disclosed. Bradford Square is anchored by a 49,000-square-foot Publix grocery store. Other tenants include Cary Salon, Night and Day Dental, First Watch, Brixx Wood Fired Pizza, Burger 21 and Hand and Stone Massage Spa.

September 30, 2022

Illinois Leasing Activity Midwest Retail

Bridalwear Brand Rosa Clará Signs 2,200 SF Retail Lease in Chicago

by Kristin Harlow September 30, 2022

CHICAGO — Luxury Spanish bridalwear brand Rosa Clará has signed a 2,200-square-foot retail lease at 670 N. Wabash Ave. in Chicago near the Magnificent Mile. The store is slated to open later this fall. Jordan Karp of Savills represented the tenant. In Spain, Rosa Clará is expanding its footprint in Valencia and Cordoba.

September 30, 2022

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