Retail

Halpern Enterprises Signs Culver’s, Aldi at Shopping Center in Phenix City, Alabama

by Alex Tostado January 30, 2019

PHENIX CITY, ALA. — Halpern Enterprises has signed Culver’s and Aldi to join the tenant lineup at Phenix City Marketplace in Phenix City. Smyrna, Ga.-based Halpern Enterprises is designing the 18-acre site that sits adjacent to Chick-fil-A, Verizon Wireless, McDonald’s, Precision Auto Tune and Waffle House. The site is also across from a Walmart Supercenter and next to Encompass Health’s Regional Rehabilitation Hospital. Phenix City Marketplace is located along U.S. Highway 280 about four miles from downtown Columbus, Ga.

January 30, 2019

Acquisitions Georgia Retail Southeast

Marcus & Millichap Brokers $1.3M Sale of New Family Dollar-Occupied Building Near Athens, Georgia

by Alex Tostado January 30, 2019

HULL, GA. — Marcus & Millichap has arranged the $1.3 million sale of a Family Dollar-occupied building in Hull, about seven miles north of Athens. The 8,247-square-foot building was delivered in 2018. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, Butler Properties & Development, in the transaction. Joe Siemienowski of Siemienowski & Associates represented the buyer, ALBOC137 LLC.

January 30, 2019

Development Retail Texas

Cinemark to Open 14-Screen Theater at Cottonwood Creek Market in Waco

by Taylor Williams January 30, 2019

WACO, TEXAS — Cinemark Holdings Inc. (NYSE: CNK) will open a 14-screen theater within Cottonwood Creek Market, a mixed-use development in Waco by Houston-based NewQuest Properties. The venue, which is expected to open in spring 2020, will feature electric-powered, oversized recliners, wall-to-wall screens with enhanced sound systems and expanded food and beverage options. Cottonwood Creek will ultimately offer a total of 285,000 square feet of retail, restaurant and entertainment space, as well as office space and multifamily units.

January 30, 2019

Development Illinois Midwest Restaurant Retail

Velvet Taco to Open Second Chicago Location at Lincoln Common Development

by Kristin Harlow January 30, 2019

CHICAGO — Velvet Taco, a Texas-based fast casual restaurant, will open its second Chicago location at Lincoln Common, a mixed-use project located in the heart of Chicago’s Lincoln Park. The restaurant will occupy 2,572 square feet beginning in mid- to late-2019. Lincoln Common, currently under development by McCaffery Brokerage and Hines, will feature residential, office, dining, fitness and retail space. Previously announced tenants include Kohler Waters Spa and Equinox Fitness.

January 30, 2019

Acquisitions California Restaurant Retail Western

Valore Ventures Acquires Fee Simple Interest in Four Disneyland-Area Restaurants for $13.1M

by Amy Works January 30, 2019

GARDEN GROVE, CALIF. — Beverly Hills, Calif.-based Valore Ventures has closed on fee simple interest in four brand-name restaurants in Garden Grove for $13.1 million. The restaurants include Oggi’s Pizza & Brewery, Outback Steakhouse, Red Robin Gourmet Burgers and Brews, and Joe’s Crab Shack. The assets are all subject to ground leases and were built between 2001 and 2008 in conjunction with surrounding development that includes three high-rise hotels in Garden Grove. The properties also feature a 2.8-acre parking lot, which is owned by the nearby Sheraton, Marriott and Delta hotels, but is exclusively for restaurant use. Valore Ventures purchased the site as one large parcel, which the company plans to spilt into four individual parcels for sale. Tom Fazekas of Fazekas Retail Group in San Francisco represented the seller in the transaction.

January 30, 2019

2510-2530-West-Coast-Hwy-Newport-Beach-CA

Acquisitions California Retail Western

CBRE Brokers $6.4M Sale of Two-Building Retail Asset in Newport Beach

by Amy Works January 30, 2019

NEWPORT BEACH, CALIF. — CBRE has arranged the sale of a retail and showroom property, located at 2510-2530 West Coast Highway in Newport Beach. A high-net-worth investor acquired the asset from Shafer Family Trust for $6.4 million. Anthony DeLorenzo, Gary Stache, Doug Mack and Ross Bourne of CBRE represented the seller and buyer in the transaction. Bayport Yachts occupies the two single-story buildings, which total 4,452 square feet. The property currently serves as the retail building and showroom for a yacht dealership, a tenant since 2001.

January 30, 2019

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 10,500 SF Retail Property in Metro Houston

by Taylor Williams January 29, 2019

KATY, TEXAS — Marcus & Millichap has arranged the sale of a 10,500-square-foot retail property net-leased to Walgreens in Katy, a western suburb of Houston. James Bell of Marcus & Millichap represented the buyer, a limited liability company that acquired the property via a 1031 exchange. Other terms of sale were not disclosed.

January 29, 2019

Acquisitions New Mexico Restaurant Retail Western

Four Corners Property Trust Buys Outback Steakhouse-Occupied Property in New Mexico for $3.9M

by Amy Works January 29, 2019

NEW MEXICO — Mill Valley, Calif.-based Four Corners Property Trust has purchased a restaurant property located in New Mexico for $3.9 million. The asset was acquired through a sale-leaseback transaction and will operate under a new triple-net lease with Cerca Trova Restaurant Concepts, the largest domestic franchisee in the Bloomin’ Brands system. Outback Steakhouse occupies the property under a lease with 20 years of the initial term and rent increases of 10 percent every five years during the initial term.

January 29, 2019

Leasing Activity Michigan Midwest Restaurant Retail

Pizzeria Signs Lease for Fourth Location in Michigan

by Kristin Harlow January 29, 2019

CLARKSTON, MICH. — Crispelli’s Bakery & Pizzeria has signed a 3,892-square-foot lease in Clarkston. This will be the restaurant’s fourth location in Michigan. Crispelli’s will join T-Mobile, Great Clips and Jersey Mike’s at the new Shoppes of Clarkston development. Tjader Gerdom and Michael Murphy of Gerdom Realty represented the tenant in the lease transaction. Chris Jonna of CMP Real Estate Group represented the undisclosed landlord.

January 29, 2019

Acquisitions Retail Southeast Tennessee

Branch, Crosland Southeast Sell One Bellevue Place in Nashville to MetLife for $93M

by Alex Tostado January 28, 2019

NASHVILLE, TENN. — Branch Properties LLC and Crosland Southeast have sold One Bellevue Place, a 355,240-square-foot power retail village in Nashville’s Bellevue neighborhood. MetLife acquired the asset for $93 million. Located at 7620 Highway 70 South, the shopping center is part of a redevelopment of the former Bellevue Center mall that now includes retail, entertainment venues, hotel rooms, office space, residential units and the training facility for the NHL’s Nashville Predators. The retail asset is anchored by Carmike Cinemas, Burlington Coat Factory, Sprouts Farmers Market, HomeGoods, Michaels, Ross Dress for Less, PetSmart, Off Broadway Shoes, Ulta Beauty and Kirkland’s. In December, Southeast Real Estate Business reported that Novel Bellevue Place, the 337-unit residential community within One Bellevue Place, was sold. CBRE represented the sellers in the transaction.

January 28, 2019

Newer Posts

Older Posts

Upcoming Events

Aug
18