Retail

JLL Negotiates Sale of 240,000 SF Shopping Center in Dallas

by Taylor Williams August 18, 2021

DALLAS — JLL has negotiated the sale of The Hill, a 240,000-square-foot shopping center located at the corner of Walnut Hill Lane and Central Expressway in north-central Dallas. Built in 1977, The Hill houses tenants such as Houndstooth Coffee, Hiatus Spa + Retreat, Snooze, Taco Deli, Hat Creek Burger Co. and Boardroom Salon for Men. Barry Brown, Ryan Shore, Chris Gerard and Jason Jacobs of JLL represented the seller, EB Arrow, in the transaction. North Carolina-based investment firm Asana Partners purchased the property for an undisclosed price in an off-market deal.

August 18, 2021

Development Retail Texas

Victory Real Estate to Develop New Retail Project in Forney, Texas

by Taylor Williams August 18, 2021

FORNEY, TEXAS — Dallas-based Victory Real Estate Group will develop The Victory Shops at Forney, a new retail project that will be located on a 26-acre lot in Forney, an eastern suburb of Dallas. Phase I of the project will consist of 44,000 square feet across four buildings, and the remainder of the development will include 160,000 square feet for Phase II. Tenants will include Kohl’s, Aspen Dental, Jamba Juice, Chiloso Tex-Mex, The Joint Chiropractic, Mod Pizza and My Eye Lab. Construction of Phase I is set to begin in mid-September and to be complete in the first quarter of 2022. DuWest Realty has been appointed as the project’s leasing agent.

August 18, 2021

Acquisitions Restaurant Retail Utah Western

Cushman & Wakefield Brokers $51M Sale of Foothill Village Shopping Center in Salt Lake City

by Amy Works August 17, 2021

SALT LAKE CITY — Cushman & Wakefield has brokered the sale of Foothill Village, a neighborhood retail center located at 1400 S. Foothill Drive in Salt Lake City. JTJG Foothill sold the asset to Charlotte, N.C.-based Asana Partners for $51 million. A premier grocery store anchors the 270,000-square-foot property, which also features a mix of restaurants, retailers, spas and salons. Asana plans to renovate the existing buildings and parking garage on the 11-acre site. The shopping center was originally developed in 1954. Renovations are slated to begin next spring with completion scheduled for the end of 2022. Kip Paul of Cushman & Wakefield and James Burgess of The Burgess Co. represented the buyer and seller in the deal.

August 17, 2021

Development Mixed-Use Multifamily North Carolina Office Retail Southeast

Joint Venture Breaks Ground on 365,000 SF Mixed-Use Project in Raleigh

by Julia Sanders August 17, 2021

RALEIGH, N.C. — A joint venture between Trammell Crow Co., High Street Residential, AECOM-Canyon Partners and HM Partners has broken ground on 400H, a 365,000-square-foot mixed-use development in Raleigh. Vancouver-based QuadReal Property Group provided an undisclosed amount of financing for the development. The 20-story tower, designed by Gensler, will include 150,000 square feet of Class A office space, 242 residential units and 16,000 square feet of ground-floor retail space. Construction is scheduled for completion by the fall of 2023. Located at 400 Hillsborough St., 400H is situated close to Union Station, the Morgan Street Food Hall and a Publix grocery store. The project’s Hillsborough Street location also provides the east-west connection to North Carolina State University and the state capital’s government complex. 400H will have residential units on floors 10 through 20. Community amenities will include a pool and SkyHub amenity on the ninth floor with indoor and outdoor space. Offices will include 14- to 20-foot floor-to-floor heights, full-height glass windows and parking ratios of 4-to-1,000. Also, outdoor seating is planned for several restaurants located within the retail space. AECOM-Canyon Partners, a joint venture partnership between AECOM Capital, the real estate investment arm of global infrastructure firm AECOM, and Canyon …

August 17, 2021

Acquisitions Indiana Midwest Retail

Blue West Capital Arranges Sale of Ridgewood Plaza Retail Center in Northwest Indiana

by Kristin Harlow August 17, 2021

MUNSTER, IND. — Blue West Capital has arranged the sale of Ridgewood Plaza in Munster for $4.5 million. The 36,307-square-foot retail center is located on Ridge Road. Tenants include Fresenius, ATI Physical Therapy, Check ’n Go, GNC, Supercuts and Applebee’s. Carly Kelly of Blue West Capital represented the buyer, Time Equities Inc. A Chicago-based private investor was the seller.

August 17, 2021

Acquisitions Michigan Midwest Retail

SRS Brokers $2.5M Sale of Aldi Ground Lease in Clinton Township, Michigan

by Kristin Harlow August 17, 2021

CLINTON TOWNSHIP, MICH. — SRS Real Estate Partners has brokered the $2.5 million sale of an Aldi ground lease in Clinton Township, about 20 miles north of Detroit. The 19,744-square-foot, single-tenant building is located at 39827 S. Groesbeck Highway. Aldi has roughly 18 years remaining on its lease at the property, which was built in 2009. Frank Rogers and Michael Carter of SRS represented the seller, a Michigan-based private investor. SRS also represented the buyer, a Midwest-based private investor.

August 17, 2021

Florida Leasing Activity Retail Southeast

Earth Fare Reopens at Shoppes of St. Johns Parkway in St. Johns, Florida

by Julia Sanders August 17, 2021

ST. JOHNS, FLA. — Earth Fare, an organic and natural grocery chain based in Asheville, N.C., will be reopening a location within Shoppes at St. Johns Parkway in St. Johns. Earth Fare will once again occupy a 24,000-square-foot space as an anchor tenant. Located at 120 Shops Blvd., Earth Fare previously was in this location but had to close, following the company declaring bankruptcy at the beginning of 2020. Sleiman Enterprises, which is the developer and owner of Shoppes of St. Johns Parkway, helped arrange the reopening of Earth Fare. When Earth Fare filed for bankruptcy in February 2020, it caused a nationwide liquidation of its stores. However, Dennis Hulsing of Hulsing Enterprises purchased the company in March 2020. Under the new ownership of Hulsing Enterprises, Earth Fare has since opened 22 locations throughout the East Coast with plans of ongoing expansion. The Shoppes of St. Johns Parkway also includes retailers such as Ember and Iron, Canopy Road Café, Xtreme Wings, Massage Envy, RaceTrac and Engel & Volkers. Space is still available for lease at the center.

August 17, 2021

Development Retail Texas

InvenTrust to Redevelop 433,677 SF Cyfair Town Center in Metro Houston

by Taylor Williams August 16, 2021

CYPRESS, TEXAS — Illinois-based shopping center REIT InvenTrust Properties will redevelop Cyfair Town Center, a 433,667-square-foot shopping center in the Houston suburb of Cypress. Kroger, J.C. Penney and Cinemark Theatres are the anchor tenants. InvenTrust’s improvements to the center will include new paint, LED lighting along the storefront exteriors, improved storefront awnings, upgraded signage and enhanced landscaping throughout the property. In addition, InvenTrust will incorporate more public seating and gathering spaces into the design of the center. The first phase of the renovation will begin this month, with completion scheduled for the fourth quarter. The second phase will begin in January 2022 with completion anticipated in late summer 2022.

August 16, 2021

Loans New Jersey Northeast Retail

Axiom Capital Places $17.8M Loan for Refinancing of Retail Building in Hillsdale, New Jersey

by Taylor Williams August 16, 2021

HILLSDALE, N.J. — Axiom Capital Corp. has placed a $17.8 million loan for the refinancing of a 63,000-square-foot retail building in the Northern New Jersey community of Hillsdale. An undisclosed bank provided the loan to the borrower, a private investor and developer. The property has been leased to a single tenant on a triple-net basis since 1979 and was also renovated between 2016 and 2017.

August 16, 2021

Acquisitions New Jersey Northeast Retail

Cushman & Wakefield Brokers $13.5M Sale of Retail Center in North Arlington, New Jersey

by Taylor Williams August 16, 2021

NORTH ARLINGTON, N.J. — Cushman & Wakefield has brokered the $13.5 million sale of Arlington Plaza, a 37,603-square-foot retail center in North Arlington, about 15 miles west of New York City. Grocer Super Foodtown anchors the property, and other tenants include Dunkin’, Taco Bell and Santander Bank. Seth Pollack, Brian Whitmer, Max Helfman, Andrew Merin, David Bernhaut and Gary Gabriel of Cushman & Wakefield represented the seller, Arlington North Associates, and procured the buyer, a privately held investment firm.

August 16, 2021

Newer Posts

Older Posts