Retail

Four Retailers to Open at CocoWalk in Miami’s Coconut Grove Neighborhood

by Julia Sanders January 28, 2022

MIAMI — Four new dining concepts and retailers are opening at CocoWalk, a 150,000-square-foot, mixed-use project in Miami’s Coconut Grove district. The project is led by an ownership group including Federal Realty Investment Trust, The Comras Co. and Grass River Property. David Grutman’s Groot Hospitality will open The Key Club, a restaurant, at CocoWalk. Additionally, Ariete Hospitality Group will also open a new restaurant at CocoWalk this year. Narbona Natural Food & Farm Market is set to open this spring in an 8,253-square-foot space. This market location will become Narbona’s second location to open in South Florida. Lastly, Cinépolis, a movie theater concept, is scheduled to open this year. The new retailers and restaurants join a tenant line-up including Planta Queen, Mister 01 Extraordinary Pizza, Sweetgreen and Salt & Straw, as well as Bluemercury, Edward Beiner, The Spot Barbershop and School of Rock. In August of last year, the owners of CocoWalk announced other planned tenants including GlossLab, a membership-based nail studio; Infinity, a fitness studio; Skin Lab by Barba Skin Clinic; and 3D Brow Studio, a beauty bar specializing in curating eyebrows.

January 28, 2022

Georgia Leasing Activity Retail Southeast

Branch Signs Two New Retailers to Join Peachtree Battle Shopping Center in Atlanta’s Buckhead District

by Julia Sanders January 28, 2022

ATLANTA — Locally based Branch Properties has signed leases for two new tenants to join Peachtree Battle Shopping Center, a 168,000-square-foot, grocery-anchored center in the Buckhead neighborhood of Atlanta. Located off Peachtree Road, Peachtree Battle Shopping Center features over 50 tenants, including a 32,836-square-foot Publix, Walgreens, Ace Hardware and Baskin-Robbins. The new tenants include Roshambo and Cava. Roshambo, a new concept from local restaurant group Unsukay, will open at the center in a 4,000-square-foot space. The restaurant is set to open this summer. Cava, a Mediterranean fast-casual restaurant chain, will occupy a 2,300-square-foot space at the center. The Mediterranean restaurant is expected to open this month.

January 28, 2022

Leasing Activity Michigan Midwest Restaurant Retail

Sugar Factory to Open in Downtown Detroit This Spring

by Kristin Harlow January 28, 2022

DETROIT — Sugar Factory American Brasserie is set to open in downtown Detroit late this spring. The First Michigan location for the brand will be located at 45 Monroe St. within Bedrock’s One Campus Martius building. The 233-seat restaurant will also feature Sugar Factory’s candy store. The main dining area will offer both indoor and outdoor seating, along with décor including neon signs, floral walls and a candy heart wall. Sugar Factory serves breakfast, lunch and dinner. Its most legendary dessert is the King Kong Sundae, which serves up to 12 people and features 24 scoops of ice cream.

January 28, 2022

California Company News Leasing Activity Retail Western

First Commercial Property Management to Operate Two Shopping Centers in Arizona, California

by Amy Works January 28, 2022

PHOENIX AND MENIFEE, CALIF. — Upland-based 1st Commercial Property Management has been selected to operate two retail centers in Arizona and California. The company will provide management services for Arcadia Crossing Shopping Center, which features more than 450,000 square feet of retail space. Fry’s Food and Drug, Ross Dress for Less, Target, Petco, Burlington and Conn’s Home Plus are tenants at the property. A private foreign owner has selected 1st Commercial to provide property management services for Countryside Marketplace in Menifee. Built in 2008 on 32 acres, the 721,000-square-foot property is fully leased. Current tenants include Super Target, Lowe’s Home Improvement Warehouse, Kohl’s, Best Buy, T.J. Maxx, HomeGoods, Michaels, Burlington, Staples, Petco and Boot Barn.

January 28, 2022

Acquisitions Midwest Ohio Retail

Stan Johnson Co. Brokers $12M Sale of Home Depot Ground Lease in Toledo, Ohio

by Kristin Harlow January 28, 2022

TOLEDO, OHIO — Stan Johnson Co. has brokered the sale of a Home Depot ground lease in Toledo for $12 million. The 141,610-square-foot retail property is located at 1035 W. Alexis Road. Chad Byerly of Stan Johnson represented the seller, a local developer. The California-based buyer completed a 1031 exchange.

January 28, 2022

Acquisitions Arizona Retail Western

ORION Investment Real Estate Brokers $2.7M Sale of Retail Building in Tucson

by Amy Works January 28, 2022

TUCSON, ARIZ. — ORION Investment Real Estate has arranged the sale of a retail building located at the northeast corner of Swan and Grant roads in Tucson. Vans Tucson Golf Properties sold the asset to PALZ Properties for $2.7 million, or $228 per square foot. The asset features 12,049 square feet of multi-tenant retail space. Nick Miner of ORION represented the seller, while Robert Nolan of Oxford Realty Advisors represented the buyer in the deal.

January 28, 2022

Illinois Leasing Activity Midwest Restaurant Retail

Star Cinema Grill to Open at Arboretum of South Barrington in Suburban Chicago

by Kristin Harlow January 27, 2022

SOUTH BARRINGTON, ILL. — Star Cinema Grill has signed a 15-year lease to open a 38,000-square-foot location at The Arboretum of South Barrington in the northwest Chicago suburb of South Barrington. Star Cinema Grill is opening in space previously occupied by IPIC Theaters. Slated to open this spring, the movie theater will offer an extensive menu and full-service bar. Mike Zucker, managing partner of Peak Properties LLC, was named receiver of the 480,000-square-foot shopping center in late 2020. Madeline Wheeler of JLL represented Peak, while Kristen Barker of Wulfe & Co. represented Star Cinema Grill. Cory Born of JLL serves as the general manager of the shopping center.

January 27, 2022

Acquisitions Midwest Retail Wisconsin

Mid-America Negotiates $9.3M Sale of Retail Center in Greenfield, Wisconsin

by Kristin Harlow January 27, 2022

GREENFIELD, WIS. — Mid-America Real Estate Group has negotiated the $9.3 million sale of 84South Small Shops in Greenfield, a southern suburb of Milwaukee. Built in 2018, the 17,805-square-foot retail center is located along Layton Avenue. Tenants include Men’s Hair House, Hand & Stone Massage and Facial Spa, MOD Pizza, FedEx Office and Café Zupas. Dan Rosenfeld of Mid-America Real Estate Wisconsin LLC represented the seller, Cobalt Partners. E&K Land LLC was the buyer.

January 27, 2022

Acquisitions California Net Lease Restaurant Retail Western

Hanley Investment Group Brokers $19.3M Sales of Four Single-Tenant Investments at Retail Center in Rosamond, California

by Amy Works January 27, 2022

ROSAMOND, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sales of four single-tenant, net-leased investments at a shopping center in Rosamond for a total consideration of $19.3 million. Four separate buyers acquired the assets, which offer a combined total of 28,462 square feet and were built in 2021. Bill Asher and Jeff Lefko of Hanley Investment Group represented the developer and seller, a partnership between Pasadena-based Halferty Development Co. and Net Lease Alliance. In the first transaction, Asher and Lefko brokered the sale of a 16,000-square-foot Grocery Outlet-occupied property at 2550 Rosamond Blvd. A San Diego-based private partnership purchased the asset for $7.1 million. Mike Conger of San Diego-based CAA represented the buyer in the deal. A Los Angeles-based private investor acquired a 2,200-square-foot Starbucks Café and Drive-Thru at 2544 Rosamond Blvd. for $3.5 million. Joey Kim of Irvine-based eXp Realty represented the buyer, while Asher and Lefko represented the seller. In the third deal, Asher and Lefko arranged the sale of a 3,062-square-foot 7-Eleven convenience store with a gas station at 2536 Rosamond Blvd. A San Diego-based private investor acquired the property for $5.6 million. Lindsey Kalal of Coronado-based Kalal Investment Realty represented the buyer, while …

January 27, 2022

Georgia Midwest Missouri Mixed-Use Retail Southeast Top Stories

Two Class B Mall Redevelopment Projects Near Atlanta, St. Louis Unveiled

by Katie Sloan January 27, 2022

NORTH DECATUR, GA. AND CRESTWOOD, MO. — Real estate developer EDENS and the City of Crestwood have separately announced two massive mall redevelopment projects in the Atlanta and St. Louis metropolitan areas, respectively. The redevelopment of Class B malls into mixed-use, open-air centers has continued to grow in popularity as shopping center owners and operators look to compete with e-commerce through the delivery of thoughtful spaces that provide an experience for visitors. North Dekalb Mall EDENS purchased North Dekalb Mall last year with plans to redevelop the property into a mixed-use project. This week, a Development of Regional Impact (DRI) application was filed with the Georgia Department of Community Affairs detailing plans for the project. Located roughly seven miles outside in Atlanta in North Decatur, the development is set to include 300,000 square feet of office space, 200,000 square feet of hospitality, 150 multifamily units and 1,700 townhomes, in addition to retail and restaurant space. A timeline for the project and further information was not disclosed. The property’s previous owner, Sterling Organization, teamed up with developer Hendon Properties and Lennar Commercial Investors in 2014 with plans to turn the 622,297-square-foot enclosed mall into an open-air shopping center, which ultimately did …

January 27, 2022

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