Retail

Three New F&B Concepts to Open at 265-Acre Mixed-Use Development in Houston

by Taylor Williams March 29, 2019

HOUSTON — Three new food and beverage concepts will open at Memorial City, a 265-acre mixed-use development in Houston owned by local firm MetroNational. A 7,000-square-foot space will be built for alcoholic beverage provider Kirby Ice House, with construction beginning this summer and the bar opening in fall 2020. A 5,830-square-foot space will be constructed for burger and milkshake concept Mia’s Table, and a 4,550-square-foot space will be built for Austin-based Torchy’s Tacos. Construction of both of those venues will begin this spring, with openings slated for next spring.

March 29, 2019

Acquisitions Retail Texas

Baceline Investments Acquires Austin Shopping Center for $4.2M

by Taylor Williams March 29, 2019

AUSTIN, TEXAS — Baceline Investments LLC, a Denver-based boutique real estate investment firm, has acquired Dakota Plaza, a 21,700-square-foot retail center in Austin, for $4.2 million. The property, which was built in 2006 and is located at 8516 Anderson Mill Road, was acquired in conjunction with shopping centers in Milwaukee, Louisville, Ky., and Maybrook, Ill.

March 29, 2019

Leasing Activity Midwest Ohio Retail

J. Crew, Sephora Join Retail Lineup at Pinecrest in Cleveland

by Kristin Harlow March 29, 2019

CLEVELAND — J. Crew and Sephora are the latest retail tenants to join Pinecrest, a 750,000-square-foot mixed-use development in Cleveland’s Orange Village. The retailers are set to open later this year. J. Crew will occupy 5,700 square feet Sephora will occupy 5,500 square feet across from Pottery Barn. Previously announced tenants at Pinecrest include REI, West Elm, Shake Shack and Vineyard Vines.

March 29, 2019

Company News Massachusetts Northeast Retail

Wayfair to Open First Full-Service Store in Suburban Boston

by David Cohen March 28, 2019

NATICK, MASS. — Online home goods retailer Wayfair Inc. has announced plans to open its first full-service store at the Natick Mall in Natick. At the Wayfair store, service and home-design experts will be available to consult shoppers on home décor, furniture and other products. Customers can purchase an assortment of home décor products, as well as place orders for home deliveries. The location, which is slated to open in the fall, will be 3,700 square feet. The Boston-based company generates roughly $7 billion in annual revenue from online purchases.

March 28, 2019

Development Office Retail Texas

Life Time to Bring 94,000 SF of Fitness, Coworking Space to Downtown Houston

by Taylor Williams March 28, 2019

HOUSTON — Life Time Inc., an owner-operator of health clubs across the country, will bring a 56,000-square-foot athletic facility and 38,000-square-foot coworking space to GreenStreet, an office and retail property in downtown Houston by local developer Midway. The facility will be located at 1201 Main St. and will offer two floors featuring a range of health and wellness amenities combined with coworking space. The opening is scheduled for 2020.

March 28, 2019

Leasing Activity Retail Texas

NAI Partners Negotiates 25,695 SF Retail Lease in Metro Houston

by Taylor Williams March 28, 2019

PASADENA, TEXAS — NAI Partners has negotiated a 25,695-square-foot retail lease at 1222 S. Shaver St. in Pasadena, a southeastern suburb of Houston. Lesley Rice and Andy Parrish of NAI Partners represented the landlord in the lease negotiations. Chris Holder, also with NAI Partners, represented the tenant, Crazy Boss, which expects to open 10 additional stores over the next two to three years.

March 28, 2019

Development Retail Texas

Axe-Throwing Concept to Open at Toyota Music Factory in Irving

by Taylor Williams March 28, 2019

IRVING, TEXAS — Stumpy’s Hatchet House, an entertainment concept centered on throwing axes, will open a 7,500-square-foot venue at Toyota Music Factory in Irving. The location will be the company’s first in DFW and 23rd in the country. Construction of the space is scheduled to begin in April. North Carolina-based developer ARK Group owns Toyota Music Factory.

March 28, 2019

Acquisitions Midwest Minnesota Retail

Kraus-Anderson Purchases 324,430 SF Retail Center in St. Paul, Minnesota

by Kristin Harlow March 28, 2019

ST. PAUL, MINN. — Kraus-Anderson Realty has purchased Midway Marketplace in St. Paul for an undisclosed price. Built in 1994, the 324,430-square-foot retail center includes anchor tenants Cub Foods, Walmart, TJ Maxx, LA Fitness and Dollar Tree. Other tenants at the property include Sprint, Leann Chin, The UPS Store, Mother Nature’s Vitamins and Midway Tobacco & Cigar Place. Beachwood, Ohio-based RVI sold the asset.

March 28, 2019

Acquisitions California Retail Western

Hanley Investment Group Arranges $29.5M Sale of ALDI-Anchored Shopping Center in Metro Los Angeles

by Amy Works March 28, 2019

SOUTH GATE, CALIF. — Hanley Investment Group has negotiated the $29.5 million sale of The Crossroads at Firestone, a 53,262-square-foot, ALDI-anchored shopping center in South Gate. The property is located on six acres at 5802-5840 Firestone Blvd., 11 miles south of downtown Los Angeles. The Crossroads was built in in 2017 and was fully leased at the time of the sale to tenants including ALDI, AT&T, Bank of America, The Buffalo Spot, Burgerim, Churroholic, Fast 5 Express Car Wash, Flame Broiler, Hiccups Restaurant & Tea House, Jersey Mike’s Subs, La Michoacana Premium, Panera Bread, Pizza Studio, Sherwin-Williams and Tacos El Gavilan. Ed Hanley of Hanley Investment Group represented both the seller, Catellus Development Corp., and the buyer, SAFCO Capital Corp., in the transaction.

March 28, 2019

Acquisitions California Retail Western

SRS Directs $14.9M Sale of 16,433 SF Shopping Center in Cypress

by Amy Works March 28, 2019

CYPRESS, CALIF. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of Cypress Village Shopping Center, a three-building retail asset located at 9515-9575 Valley View St. in Cypress. A Southern California-based private investor acquired the property from Cypress Village Partners LLC for $14.9 million, or $910 per square foot. Situated on 2.4 acres, a variety of restaurants and retailers occupy the 16,433-square-foot property. Current tenants include Pieology Pizzeria, 85°C Bakery Café, Burger Boss, WaBa Grill, Urban Cup and Churned Creamery. Rich Walter, Pat Kent and Parker Walter of SRS Real Estate represented the seller in the transaction.

March 28, 2019

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