GRAND PRAIRIE, TEXAS — Chicken N Pickle, an entertainment concept that pairs the food and drink of a chef-driven restaurant with pickleball and other games, will open a restaurant and entertainment venue in the central metroplex city of Grand Prairie. The venue, which is scheduled to open in 2021, will feature indoor and outdoor pickleball courts, lawn games, a rooftop bar and a full-service restaurant. Chicken N Pickle Grand Prairie will also offer clinics for players of all experience levels, as well as professional and amateur tournaments. The company is pursuing a joint venture with the City of Grand Prairie wherein the city will own the land, develop parking needs and lease to Chicken N Pickle for this use. Chicken N Pickle opened its flagship venue in Kansas City in 2017 and also brought its concept to San Antonio earlier this year.
OVERLAND PARK, KAN. — PEBB Enterprises has sold a retail property leased to Tires Plus at its Pinnacle Village shopping center for $2.2 million. Four Corners Property Trust purchased the 7,740-square-foot building, which is located in the Kansas City suburb of Overland Park. Colliers International brokered the sale. PEBB acquired the 126,909-square-foot Pinnacle Village in May 2018. DSW and Michael’s are the anchor tenants.
MOUNT PROSPECT, ILL. — Adelphia Properties has brokered the sale of an 8,125-square-foot retail building located at 263-301 E. Rand Road in Mount Prospect, approximately 23 miles northwest of Chicago. The sales price was undisclosed. The value-add property was 23 percent occupied at the time of sale. George Spirrison and Simeon Spirrison of Adelphia represented the seller, a Chicago-based private real estate investor. The buyer was also a Chicago-based private investor.
NEW YORK CITY — Luxury jeweler Tiffany & Co. has unveiled plans for the redevelopment of its flagship store at 727 5th Ave. in Manhattan. The top three floors of the 10-story building will be converted from office space into a new exhibition and event space surrounded by a curtain of glass complementing the limestone façade below. That space was originally completed in 1980, and the building itself was originally constructed in 1940. Tiffany has partnered with The Office of Metropolitan Architecture on the project, which is expected to be complete in 2022.
OKLAHOMA CITY — Hobby Lobby is in the midst of expanding its Florida footprint with three new 55,000-square-foot stores. The Oklahoma City-based arts and crafts retailer opened a location in Panama City Beach on July 6, a store within Terra’s Pines City Center in Pembroke Pines on Aug. 8 and will open a store in Urban-X Group’s River Landing project in Miami on Sept. 8. Hobby Lobby locations are typically single-story stores in suburban areas. The location in River Landing will be the first multi-level Hobby Lobby. David Emihovich of Katz & Associates represented Hobby Lobby in the lease negotiations.
MINNEAPOLIS — Best Buy Co. Inc. (NYSE: BBY) reported that its online sales increased 242 percent for the 13-week quarter that ended Aug. 1 compared with the same time period last year. Products that help people work, cook and learn at home such as computing, appliances and tablets were the largest drivers of sales growth for the second quarter, according to Corie Barry, CEO of the Minneapolis-based retailer. Sales at open stores grew by 5.8 percent. However, growth is not likely to continue at the same pace and the retailer will have higher expenses once all of its stores are reopened, according to CFO Matt Bilunas. “As we plan for the back half of the year, we continue to weigh many factors, including potential future government stimulus actions, the current shift in personal consumption expenditures from areas like travel and dining out, the possible depth and duration of the pandemic, the risk of higher unemployment over time and the availability of inventory to match customer demand,” says Bilunas. There are more than 900 Best Buy stores nationwide. Best Buy’s stock price closed at $117.36 per share Monday, Aug. 24, up from $67.65 per share one year ago.
FORT WORTH, TEXAS — Studio Movie Grill will open a 12-screen theater on Friday, Aug. 28 at The Shops at Chisholm Trail Ranch, a 250,000-square-foot retail center by StreetLevel Investments in Fort Worth. The 40,000-square-foot venue will be the company’s first in Fort Worth and 14th in Texas. The theater will open at 50 percent of its designated capacity and will offer a variety of food and beverage options.
BURLESON, TEXAS — Developer Bright Realty has sold a 6,667-square-foot retail property located at 264 SE John Jones Drive in the Fort Worth suburb of Burleson. The strip retail center was built in 2018 and was fully leased at the time of sale to Chicken Salad Chick, HotWorx and Mint Dentistry. Nick Miller and Britton Lankford of Bright Realty represented the firm internally in the transaction. Jordan Wood with Coldwell Banker represented the 1031 exchange buyer.
ORLAND PARK, ILL. — Duluth Trading Co. has opened a new store in Orland Park within metro Chicago. This is the 64th location for Duluth Trading, which offers men’s and women’s casual wear, workwear and accessories. The store is located at 29 Orland Square Drive. Duluth Trading is based in Mount Horeb, Wis.
GLENDALE, ARIZ. — Orion Investment Real Estate has arranged the sale of a retail building located at the intersection of West Peoria and North 43rd avenues in Glendale. An affiliate of DeRito Partners sold the property to a Santa Clara, Calif.-based buyer for $3.8 million, or $387.72 per square foot. Originally constructed in 1987 as a single-tenant restaurant property, the 9,801-square-foot building is now a multi-tenant property. At the time of sale, the property was 89 percent occupied by Denny’s, Subway and Alta Dental. The asset is an outparcel to Glendale Towne Center, which Target anchors. Ari Spiro and Sean Stutzman of Orion Investment represented the seller, while Joel Owens of Canton, Ga.-based All World Realty represented the buyer in the deal. The new owner has retained DeRito Partners for both leasing and property management