Retail

EVO Entertainment to Open 80,000 SF Venue at Escala in San Antonio

by Taylor Williams March 4, 2020

SAN ANTONIO — EVO Entertainment, an entertainment retail concept that combines bowling, movies, games, food and beverages, will open an 80,000-square-foot venue at Escala in San Antonio. The center will feature 10 movie screens, 12 bowling lanes, a restaurant and bar, arcade and virtual reality games, a ropes course and private event space. Metro Dallas-based N3 Real Estate is the developer of Escala, a shopping center located at the intersection of State Highway 151 and Military Drive on the city’s northwest side. The venue will be the seventh for EVO, which primarily operates in Central Texas, and is scheduled to open in January 2021.

March 4, 2020

Development Retail Southeast Tennessee

Whole Foods Opens 44,500 SF Store in Downtown Nashville

by Alex Tostado March 4, 2020

NASHVILLE, TENN. — Whole Foods Market has opened a 44,500-square-foot store in downtown Nashville. Whole Foods employs about 120 full- and part-time workers at the new store, which is situated at 1202 Broadway. The store will be open 7 a.m. to 10 p.m. daily. The new location features a full-service coffee bar called BroadBrews, offering coffee, espresso, cold brew, teas, beer, wine and pastries. The new Whole Foods is situated at the ground level of 1200 Broadway, a 26-story, 313-unit apartment complex. This is Whole Foods’ third location in metro Nashville, joining a store seven miles south of downtown in Green Hill and a store in Franklin, 18 miles south of Nashville.

March 4, 2020

Acquisitions California Mixed-Use Multifamily Office Retail Western

Optimus Properties Sells Two-Property Mixed-Use Portfolio in California for $11M

by Amy Works March 4, 2020

CARMEL, CALIF. — Optimus Properties has completed the disposition of a two-property portfolio in downtown Carmel. Wheat LLC acquired the mixed-use portfolio for $11 million. The sale consists of the 4,345-square-foot Block 71: Lot 5 building, with ground-floor retail and office space and second-floor residential space, and Block 76: Lot 11, a 2,763-square-foot retail property. Michael Schoeder of Cushman & Wakefield’s Central Coast Operations, in collaboration with Dan Wald and Don LeBuhn of the firm’s Retail Investment Advisors Group in San Francisco, represented the seller in the deal.

March 4, 2020

Acquisitions Retail Southeast Virginia

SRS Negotiates $4M Sale of Single-Tenant Retail Property in Richmond Net Leased to 7-Eleven

by Alex Tostado March 3, 2020

RICHMOND, VA. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $4 million sale of a single-tenant building in Richmond net leased to 7-Eleven. The 2,956-square-foot building is situated on 1.2 acres at 5201 Chamberlayne Ave., five miles north of downtown Richmond. The seller, an undisclosed developer based in Richmond, delivered the asset in late 2019. There is a 15-year, corporate-guaranteed lease in place with 7-Eleven Inc. Frank Rogers and Michael Carter of SRS represented the seller in the transaction. Gardner King of Dominion Commercial represented the undisclosed buyer, which was completing a 1031 exchange.

March 3, 2020

Acquisitions Georgia Retail Southeast

InvenTrust Properties Purchases Publix-Anchored Center in Metro Atlanta for $11M

by Alex Tostado March 2, 2020

SANDY SPRINGS, GA. — InvenTrust Properties Corp. has purchased Trowbridge Crossing, a 62,600-square-foot, Publix-anchored shopping center in Sandy Springs, for $11 million. The property was fully leased at the time of sale to tenants including the U.S. Postal Service, Great Clips, T-Mobile and Domino’s Pizza. The center was also recently upgraded to include new LED lighting to improve energy efficiency and provide better illumination for the center. Trowbridge Crossing is situated at 7531 Roswell Road, 18 miles north of downtown Atlanta. The seller was not disclosed.

March 2, 2020

Development Oklahoma Retail Texas

Simon Breaks Ground on 340,000 SF Tulsa Premium Outlets

by Taylor Williams March 2, 2020

JENKS, OKLA. — Simon Property Group Inc. has broken ground on Tulsa Premium Outlets, a 340,000-square-foot, open-air retail and dining destination. The property is located just off the Creek Turnpike in Jenks, a southern suburb of Tulsa, and will be Simon’s 91st Premium Outlets development. Construction of the property is expected to generate 400 jobs, and the opening of the center is anticipated to create 800 new full- and part-time jobs. A completion date was not released.

March 2, 2020

Leasing Activity Retail Texas

Emler Swim School to Open 4,900 SF Facility in Metro Houston

by Taylor Williams March 2, 2020

KATY, TEXAS — Emler Swim School will open a 4,900-square-foot facility at 6823 S. Fry Road in the western Houston suburb of Katy on May 4. The Katy school, which will be the company’s sixth in the Houston area, will feature a maximum four-foot deep and year-round 90-degree saltwater pool and heated air. Emler Swim School, which was founded in 1975, offers more than 20 classes and levels for students as young as two months old.

March 2, 2020

Acquisitions New Jersey Northeast Retail

First National Acquires Walmart-Anchored Shopping Center in Hamilton, New Jersey, for $19.2M

by Alex Patton March 2, 2020

HAMILTON, N.J. — First National Realty Partners has acquired The Court at Hamilton, a 194,106-square-foot shopping center in the eastern Trenton suburb of Hamilton, for $19.2 million. A 150,000-square-foot Walmart Supercenter anchors the property, which was 99 percent leased at the time of sale. Other tenants include Burger King and apparel retailer Rainbow Shops. Brad Nathanson of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Abrams Realty & Development. Nathanson also procured First National as the buyer.

March 2, 2020

Acquisitions Northeast Pennsylvania Retail

Marcus & Millichap Brokers $8M Sale of Retail Property in Collingdale, Pennsylvania

by Alex Patton March 2, 2020

COLLINGDALE, PA. — Marcus & Millichap has brokered the $8 million sale of a retail property in Collingdale, an eastern suburb of Philadelphia. Located at 910 Macdade Blvd., the single-tenant property is owned by Wawa, a convenience store and gas station company. Wawa sold the property to move to a different building across the street and add a gas component to its site. Derrick Dougherty and Mark Krantz of Marcus & Millichap represented the buyer, a limited liability company.

March 2, 2020

Leasing Activity Michigan Midwest Restaurant Retail

Wolverine Tacos to Open in West Michigan

by Kristin Harlow March 2, 2020

WYOMING, MICH. — Wolverine Tacos is set to open Wednesday, April 15 in Wyoming, just south of Grand Rapids. The taco restaurant has signed a lease to occupy space at 1740 44th St. The menu will offer a variety of tacos, bowls, salads, soups, appetizers and desserts. Todd Leinberger and Rod Alderink of NAI Wisinski of West Michigan represented the undisclosed landlord in the lease transaction. Carol Johnson is the owner of Wolverine Tacos.

March 2, 2020

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