Retail

Retail, Industrial Brokers in Wichita Market Remain Busy

by Kristin Harlow May 26, 2022

Wichita experienced considerable retail and restaurant expansion throughout 2021, with other new stores planned for 2022. The two biggest new players to Wichita include Top Golf at 29th Street and Greenwich Road, now under construction, and Scheel’s entering the market with a new 220,000-square-foot store to be located in the former Sears space at Towne East Square. Top Golf is anticipated to open in late 2022, spurring more retail activity on North Greenwich. Furniture stores have been actively backfilling big boxes, including Bob Mills who took the former Michael’s, and Wichita Furniture, a strong regional player, taking the former 100,000-square-foot Kmart building on West Kellogg/US-54. Discount stores have continued to find a way to open more locations to increase their footprints in the market, both new construction and conversion of former retail spaces. Ollie’s Bargain Outlet opened its west store at Central and Ridge roads, and is also opening a store at Brittany Center. Quick-service restaurants (QSRs) have been active, including two new locations opening in 2022 for Dunkin’ and several new Dutch Bros Coffee locations as they enter the market as well in late 2022 and 2023. Tropical Smoothie Café opened a location last year and Smoothie King …

May 26, 2022

Country-Squire-Shopping-Center-Fresno-CA

Acquisitions California Retail Western

Faris Lee Investments Arranges $6.6M Sale of Country Squire Shopping Center in Fresno

by Amy Works May 25, 2022

FRESNO, CALIF. — Faris Lee Investments has arranged the sale of Country Squire Shopping Center, a three-building retail property in Fresno. A Riverside, Calif.-based private investor acquired the asset from a Fresno-based investor for $6.6 million. Both parties requested anonymity. Walgreens, Surf Thru Express Car Wash and Multi-Tenant Shops fully occupy the 27,315-square-foot property. Situated on a total of 4.3 acres, the center is located at 4172, 4140, 4182 N. First St. Sean Cox, Alex Moore and Shaun Riley of Faris Lee Investments represented both parties in the deal.

May 25, 2022

Development Illinois Midwest Office Restaurant Retail

EQ Office Completes $500M Renovation of Willis Tower in Chicago

by Kristin Harlow May 25, 2022

CHICAGO — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office. Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and its printed catalog. Designed by Gensler, Catalog features restaurants such as Tortazo by Rick Bayless, Shake Shack, Joe & the Juice, Foxtrot, Starbucks, Brown Bag Seafood Co., Do-Rite Donuts & Chicken, Sushi-San and Sweetgreen. Kindling, a two-story restaurant concept from Chicago’s 50/50 Group, as well as Urbanspace, a food hall, are both slated to open in late summer or early fall. A 30,000-square-foot outdoor terrace sits atop Catalog. The Skydeck observatory at Willis Tower also underwent a renovation through partnerships with exhibit design firms Thinc and SOM. An interactive “best of Chicago” museum-like exhibit celebrates the personality, history and neighborhoods of Chicago. Gensler designed the building’s new exterior façade at the base. SKB Architecture and Design handled the design of …

May 25, 2022

Leasing Activity New York Northeast Retail

Whole Foods to Open 54,000 SF Store in Manhattan’s NoMad Neighborhood on June 1

by Taylor Williams May 25, 2022

NEW YORK CITY — Whole Foods Market will open a 54,000-square-foot store at 63 Madison Ave. in Manhattan’s NoMad neighborhood on Wednesday, June 1. The store will offer produce sourced from 20 local farms, full-service meat and seafood counters, a bakery, prepared foods section, wellness and beauty section and a selection of more than 180 craft beers.

May 25, 2022

Acquisitions Florida Retail Southeast

CrossMarc, MCB Acquire Springs Plaza Shopping Center in Longwood, Florida for $19.6M

by John Nelson May 25, 2022

LONGWOOD, FLA. — Winter Park, Fla.-based CrossMarc Services and Baltimore-based MCB Real Estate have purchased Springs Plaza, a 64,753-square-foot shopping center in Longwood, about 15 miles north of Orlando. Faison Enterprises also provided equity for the $19.6 million acquisition. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of New York-based Apollo Global Management, in the transaction. The shopping center was built in 1979 and renovated in 2017. Shadow-anchored by Publix, Springs Plaza’s tenant roster includes Tijuana Flats, golf-themed sports bar Mulligan’s, The Back Porch Longwood, Hurricane Grill & Wings, Woof Gang Bakery & Grooming, a health food concept and a nail salon, among others.

May 25, 2022

Acquisitions Alabama Retail Southeast

JRW Realty Arranges Sale of Publix-Anchored Shopping Center in Decatur, Alabama

by John Nelson May 25, 2022

DECATUR, ALA. — JRW Realty has arranged the sale of Point Mallard Centre, a grocery-anchored shopping center in Decatur. Situated near I-65, the property features a 45,600-square-foot Publix store and 16,800 square feet of small shop, restaurants and healthcare tenants. The buyer is an unnamed institutional investor that is actively acquiring net-leased and value-add properties. The seller and sales price were not disclosed.

May 25, 2022

Development District of Columbia Leasing Activity Retail Southeast Virginia

Wegmans Opens New 81,300 SF Grocery Store in Metro D.C., Two More Planned to Open

by John Nelson May 24, 2022

WASHINGTON, D.C. — Wegmans, an upscale supermarket chain based in Rochester, N.Y., is expanding in metropolitan Washington, D.C. In early May, the grocer opened an 81,300-square-foot store at 150 Stovall St. in Alexandria, Va., a store that anchors Stonebridge’s Carlyle Crossing mixed-use development. The Alexandria store opened earlier this month and is the 14th Wegmans in Virginia and 107th nationwide. The grocer also plans to open an 85,000-square-foot store within the Halley Rise development in Reston, Va., and an 84,000-square-foot store at the $640 million City Ridge development in northwest Washington, D.C. The City Ridge store will open in July and the Reston store is set to open in early 2023. Wegmans is also opening an 84,000-square-foot store in Wilmington, Del., this fall.

May 24, 2022

California Loans Retail Western

Gantry Arranges $24M Loan for Refinancing of Southern California Retail Center

by Amy Works May 24, 2022

MOORPARK, CALIF. — San Francisco-based mortgage banking firm Gantry has arranged a $24 million bridge loan for the refinancing of Village at Moorpark, a retail center located at 706-790 Los Angeles Ave. in Moorpark. Amazon Fresh, Dover Saddlery and other local, regional and national tenants occupy the 129,000-square-foot property. Mark Ritchie and Austin Ridge of Gantry’s Los Angeles office arranged the financing on behalf of the borrower, a private real estate investor. An investment management platform firm provided the loan, which features earn-out provisions with holdbacks tied to future performance milestones and extensions.

May 24, 2022

Acquisitions Massachusetts Northeast Retail Rhode Island

Wilder, TA Realty Acquire Shopping Center Portfolio in Massachusetts, Rhode Island, for $390M

by Taylor Williams May 24, 2022

BOSTON — A partnership between two Boston-based firms, Wilder Cos. and TA Realty, has acquired a portfolio of nine grocery-anchored shopping centers totaling 729,437 square feet for $390 million. Eight of the properties are located in Massachusetts, and one is located in Rhode Island. At the time of sale, the portfolio was 95 percent leased, with grocers such as Whole Foods Market, Shaw’s, Star Market and Dave’s Fresh Marketplace serving as anchor tenants. Robert Griffin, Geoffrey Millerd, Jonathan Martin, Paul Penman and Mathew Adler of Newmark represented the undisclosed seller and procured the buyer in the transaction. Richard Ruggerio of Newmark assisted in closing the deal as the local broker of record.

May 24, 2022

Acquisitions Illinois Midwest Retail

Hanley Investment Group Arranges Sales of Three Retail Properties in Suburban Chicago for $10M

by Kristin Harlow May 24, 2022

PLANO, WAUKEGAN AND NEW LENOX, ILL. — Hanley Investment Group Real Estate Advisors has arranged the sales of three retail properties in suburban Chicago for roughly $10 million. In the first transaction, Lakewood Springs Commons in Plano sold for $3 million. The 26,300-square-foot center was built in 2007. Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investment group based in Chicago. Greg Cline of The Cline Co. represented the buyer, a New Jersey-based private investor. Cedar Center in New Lenox sold for $3.4 million. The 22,370-square-foot property was built in 2007. The Hanley team represented the seller, a Chicago-based private investment group. David Cendejas of SVN Vanuard represented the buyer, a Los Angeles-based private investor. In the final transaction, Bay Ridge Court in Waukegan sold for $3.6 million. Built in 1991 and remodeled in 2020, the property spans 27,687 square feet. Lefko and Asher represented the seller, Fortune Bank. Douglas Cole of Marcus & Millichap represented the buyer, a Los Angeles-based private investor.

May 24, 2022

Newer Posts

Older Posts