DANBURY AND FAIRFIELD, CONN. — Floor & Décor will open its first two stores in Connecticut during the first half of 2021 when the home improvement retailer rolls out a 74,000-square-foot store in Danbury and an 80,000-square-foot store in Fairfield. In Danbury, Floor & Décor purchased a 150,000-square-foot building that formerly housed Pilgrim Furniture and Bob’s Stores. In Fairfield, the company will backfill a space formerly occupied by Kohl’s. Grocer Aldi will share the backfilled space with Floor & Décor. Brian Katz of Katz & Associates represented the retailer in both deals.
SANTA CLARA, CALIF. — Despite shelter-in-place mandates and temporary closures due to COVID-19, Westfield US has opened 42 stores and restaurants this year at Westfield Valley Fair, a 2.2 million-square-foot Bay Area shopping and lifestyle destination located at 2855 Stevens Creek Blvd. in Santa Clara. Twenty-two of the new tenants have opened since March, with 15 new retail and restaurant leases signed and foot traffic increasing more than 10 percent week-over-week since the center reopened in for retail operations in June. New tenants and milestones include: The completion of an expanded Luxury Collection that now features more than 45 retailers, including Bvlgari, Golden Goose, Gucci, Jimmy Choo, Montblanc, Tiffany & Co. and Versace. Additionally, Christian Louboutin and Panerai have signed leases to join the collection in the near future. The openings of a flagship Apple store, Lucid Studio from Lucid Motors, Peloton, AESOP, Zadig & Voltaire, Sandro, Maje and Anne Fontaine. New tenants for The Digital District including Tempo and Brik + Clik, Capital One Café, Polestar, Reiss and Dr. Martens. A revitalized Restaurant Collection with expanded outdoor dining options and new restaurants, including the first Northern California location of King’s Fish House, Shake Shack, Silicon Valley’s first Salt & …
ROSWELL, GA. — Red Oak Financial has provided a $9.7 million refinancing loan for Village Festival Shopping Center, a 56,921-square-foot retail center in Roswell. Proceeds from the two-year bridge loan will be used to renovate the property, which sits on seven acres at 10930 Crabapple Road, 25 miles north of downtown Atlanta. The borrower and owner, Phoenix Ten Properties LLC, will introduce shopping, dining and event options at the property. A timeline for renovations was not disclosed. Gary Bechtel of Red Oak Financial originated the loan on behalf of the borrower.
LEMONT, ILL. — First National Realty Partners has acquired Lemont Village Square, a 59,939-square-foot shopping center in Lemont, located about 27 miles southwest of Chicago. The purchase price and seller were undisclosed. The Aldi-anchored property sits at the corner of 127th and State streets. It is 96 percent leased. Other tenants include Starbucks, The Learning Experience, Jimmy Johns, AT&T and Verizon Wireless.
YORK, PA. — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of York Marketplace, a 304,974-square-foot retail power center in York. A 125,353-square-foot Lowe’s Home Improvement store anchors the property along with a 74,541-square-foot Giant Food grocery store and a 12,500-square-foot Premium Fine Wine & Good Spirits. Brad Nathanson of IPA represented the undisclosed seller and procured the buyer, Triple BAR Group, in the transaction. Michael Helpern and Chris Marks of IPA Capital Markets arranged acquisition financing on behalf of the buyer.
BOSTON — Concepts, an apparel and footwear retailer that was founded in 1996, has opened a global flagship store on Newbury Street in Boston’s Back Bay area. Designed by Bergmeyer and built out by Shawmut Design & Construction to resemble the layout of an art gallery, the space spans three floors and 47,000 square feet. The ground floor houses Concepts’ private label apparel, accessories and footwear, as well as a headwear customization space. The mezzanine space features a dedicated area for rotating special projects and collaborations and a disc jockey booth, while the top floor features women’s-only merchandise.
SAN DIEGO — The San Diego City Council has unanimously approved an exclusive negotiating agreement with the Padres Development Team to negotiate terms for the previously announced acquisition and redevelopment of Tailgate Park into East Village Quarter. The site is located outside Petco Park, which Major League Baseball’s San Diego Padres call home. The Padres Development Team, including the San Diego Padres, Tishman Speyer and Ascendant Capital Partners, was selected during a public request for proposals process. The development team’s vision for East Village Quarter includes residential space, 50,000 square feet of neighborhood-serving retail, 236,000 square feet of public spaces, 1.4 million square feet of office space targeted to technology and biotechnology companies, and 1,600 parking spaces. According to media reports, the development will cost $1.4 billion. “We are excited to take another step forward to revitalize Tailgate Park and further transform the Ballpark District and downtown San Diego,” says Erik Greupner, president of business operations for the San Diego Padres. “We look forward to finalizing a deal with the City of San Diego that will result in the creation of a vibrant, inclusive, mixed-use district in East Village.”
LA QUINTA, CALIF. — San Diego-based Beacon Realty Advisors, in partnership with Charlotte-based Carolina Capital Real Estate Partners, has acquired Jefferson Square, a partially built, open-air retail center in La Quinta. Regency Centers, the original developer, sold the asset for an undisclosed price. Located at Fred Waring Drive and Jefferson Street, Jefferson Center is situated on approximately 10 acres. CVS/pharmacy currently anchors the property. Beacon plans to pursue a grocery, home improvement or medical tenant to occupy the existing vacant 14,000-square-foot box space. The Jefferson Center site features a fully constructed infrastructure with only half of the land fully developed.
RIVERSIDE, CALIF. — Progressive Real Estate Partners has arranged the sale of a former bank property located at 6876 Magnolia St. in Riverside. Dream Big Children’s Center acquired the asset for $1.5 million. The property consists of four one-story buildings totaling 8,633 square feet, a courtyard and dedicated parking. Dream Big offers early intervention services and therapy for children with autism using a focus on structured teaching and natural play. Slated to open in early 2021, the Riverside location will be the company’s fourth play center. Greg Bedell and Roxy Klein of Progressive Real Estate Partners represented the seller, Financial Partners Credit Union, in the deal.
DOTHAN, ALA. — Chase Properties has acquired Shops on the Circle, a 183,000-square-foot retail property in Dothan. TJ Maxx, Big Lots, PetSmart, Five Below and Old Navy anchor the center. The seller and sales price were not disclosed. Shops on the Circle is located at 3500 Ross Clark Circle, three miles northwest of downtown Dothan. Beachwood, Ohio-based Chase Properties says that despite COVID-19, the sale closed on schedule.