Retail

Levcor Welcomes Five New Tenants to Shopping Center in Del Rio, Texas

by Taylor Williams September 1, 2022

DEL RIO, TEXAS — Houston-based developer Levcor has welcomed a quintet of new tenants to Plaza Del Sol, a shopping and dining destination in Del Rio, located west of San Antonio near the Texas-Mexico border. Retailers Ulta Beauty and Burlington have respectively committed to 5,789 and 36,258-square-foot spaces, and the former’s store is now officially open. Food-and-beverage users that have joined the tenant roster include McAlister’s Deli (2,882 square feet), Papa John’s (1,432 square feet) and Arby’s (2,252 square feet).

September 1, 2022

Development Michigan Midwest Retail

Gillespie Group to Redevelop Former Sears Property in Lansing, Michigan

by Kristin Harlow September 1, 2022

LANSING, MICH. — Gillespie Group has unveiled plans to redevelop a former Sears Roebuck location at 3131 E. Michigan Ave. in Lansing. The property is being marketed as ROECO, a retail and entertainment destination. Specific redevelopment plans have yet to be finalized. The name ROECO is a nod to Sears Roebuck, which occupied the property for 66 years. Most recently, Sparrow Health System utilized the site for COVID testing. Gillespie Group is working with CBRE to secure retailers, restaurants and entertainment concepts for the redevelopment project. The timeline and final product mix are subject to change.

September 1, 2022

Acquisitions California Retail Western

Gateway Co. Sells 13,000 SF Retail Building at Towngate Promenade in Moreno Valley, California

by Amy Works September 1, 2022

MORENO VALLEY, CALIF. — Gateway Co. has completed the disposition of a retail building at the Towngate Promenade in Moreno Valley. A private party acquired the asset for $2.8 million. The buyer will use the 13,000-square-foot building to accommodate a Kids Empire franchised location. Kids Empire encourages healthy, happy active play for children of all ages and features age-appropriate play structures, climbing walls, slides and rides. Headquartered in Southern California, Kids Empire currently has more than 30 locations in 10 states across the country. Located at 12650 Day St., the Kids Empire indoor playground location is slated to open in 2023. Pablo Velasco and Albert Lopez of Progressive Real Estate Partners represented the seller in the deal.

September 1, 2022

Acquisitions California Net Lease Retail Western

SBH Real Estate Divests of Triple-Net Leased Car Wash Property in Gardena, California

by Amy Works September 1, 2022

GARDENA, CALIF. — SBH Real Estate has completed the sale of a triple-net leased retail asset located at 15015 Crenshaw Blvd. in Gardena. KOAM Property Investment purchased the property for $3.5 million. Super Star Car Wash signed a 25-year triple-net ground lease for the property. The location opened for business in early 2022 and the tenant has invested more than $3 million into the location. Jeremy McChesney of Hanley Investment Properties represented the seller, Eric Silverman of SBH Real Estate, while Frank Choi of Win Realty & Properties represented the buyer in the transaction.

September 1, 2022

Acquisitions Kentucky Retail Southeast

BC Wood Acquires Two Shopping Centers in Newport, Kentucky Totaling 429,399 SF

by John Nelson August 31, 2022

NEWPORT, KY. — BC Wood Properties, a value-add shopping center investment firm based in Lexington, Ky., has purchased two retail centers in Newport, a suburb of Cincinnati. The adjacent assets, Newport Shopping Center and Newport Plaza, total 429,399 square feet. Newport Shopping Center’s tenant roster includes Newport Racing & Gaming, Crunch Fitness, Family Dollar, Dollar General, Cricket Wireless, H&R Block and GNC. Newport Plaza’s tenants include Fresh Thyme, Planet Fitness, Ace Hardware and Dollar Tree. Both centers also house several locally based stores and restaurants. BC Wood acquired the centers via its investment vehicle BC Wood Real Estate Fund III. The seller and sales price were not disclosed. With this acquisition, BC Wood now owns and operates 10 shopping centers in Kentucky.

August 31, 2022

Acquisitions Midwest Ohio Retail

Palomar Group Brokers $3.3M Sale of Retail Center in Oakwood Village, Ohio

by Kristin Harlow August 31, 2022

OAKWOOD VILLAGE, OHIO — The Palomar Group has brokered the $3.3 million sale of Hawthorne Shops in Oakwood Village, a southern suburb of Cleveland. The 50,957-square-foot retail center, built in 1991, is shadow anchored by Sam’s Club. Palomar Group represented the seller, Dallas-based Tabani Group. New York-based Z.E.A. Capital Realty Holdings was the buyer.

August 31, 2022

Leasing Activity Michigan Midwest Retail

Jazzercise to Open 1,800 SF Location in Troy, Michigan

by Kristin Harlow August 31, 2022

TROY, MICH. — International franchise chain Jazzercise Fitness Co. has signed a five-year lease to open an 1,800-square-foot location at Troy Sports Center in Troy. The property is located at 1819 E. Big Beaver Road. Barry Landau of Dominion Real Estate Advisors represented both the tenant and the undisclosed landlord. Jazzercise, founded in 1969, operates 5,800 locations in 25 countries.

August 31, 2022

Leasing Activity New Jersey Northeast Retail

Federal Realty Welcomes New Tenants to Ellisburg Shopping Center in Cherry Hill, New Jersey

by Taylor Williams August 31, 2022

CHERRY HILL, N.J. — Federal Realty Investment Trust has signed leases with three new tenants at Ellisburg Shopping Center, a 260,000-square-foot retail destination located outside of Philadelphia in Cherry Hill. Wren Kitchen will open a 14,346-square-foot store and showroom this winter. Childcare franchise Adventure Kids Playcare will debut its 8,564-square-foot facility this fall, and fast casual eatery BurgerFi will open a 3,000-square-foot restaurant in early September. Other tenants at Ellisburg Shopping Center include Whole Foods Market, Buy Buy Baby and Restoration Hardware Outlet.

August 31, 2022

Leasing Activity New Jersey Northeast Retail

Jeffery Realty Negotiates Two Retail Leases for GNC in Southern New Jersey

by Taylor Williams August 31, 2022

DEPTFORD AND TOMS RIVER, N.J. — New Jersey-based brokerage firm Jeffery Realty has negotiated two retail leases totaling 3,400 square feet in the Southern New Jersey communities of Deptford and Toms River. Shane Wierks and Alan Walker of Jeffery Realty represented the tenant, health supplements provider GNC, in both sets of lease negotiations. Joe Allegro, Giorgio Vasilis and Justin Goodman of Sitar represented the landlord in the Deptford deal. Shane Hart and Joe Dougherty of Metro Commercial represented the landlord in the Toms River deal.

August 31, 2022

Acquisitions California Net Lease Retail Western

Stan Johnson Negotiates Acquisition of 56,000 SF Retail Property Leased to Target in Huntington Park, California

by Amy Works August 31, 2022

HUNTINGTON PARK, CALIF. — Stan Johnson Co. has brokered the purchase of a freestanding retail property located at 5731 Bickett St. in Huntington Park, just southeast of downtown Los Angeles. A New York-based private investor acquired the asset for $48.7 million. Principal Life provided acquisition financing. Developer Shane Cos. is slated to complete the 56,000-square-foot building in January 2023. Target has leased the property under a long-term, triple-net lease. Situated on 4.1 acres, the site will feature a Starbucks Coffee, Tesla charging station and an urban-format Target. Jason Maier of Stan Johnson Co. represented the buyer, while Alvin Mansour of The Mansour Group at Marcus & Millichap represented the undisclosed seller in the transaction.

August 31, 2022

Newer Posts

Older Posts