Retail

Flix Brewhouse to Open 39,000 SF Venue in Metro Austin

by Taylor Williams May 22, 2018

HUTTO, TEXAS — Flix Brewhouse, an entertainment concept that combines the movie theater experience with beer brewing, will open a new venue within The Co-Op District, a mixed-use development under construction in the northeastern Austin metro of Hutto. The number of screens has not yet been determined, but the venue will span approximately 39,000 square feet, according to Community Impact Newspaper. The Hutto location will be Flix Brewhouse’s fourth venue in Texas and ninth overall. Developed by MA Partners, the Co-Op District will include residential, retail and civic components upon completion.

May 22, 2018

Acquisitions Arizona Georgia Retail Southeast Western

Westwood Financial Acquires Two Sprouts-Anchored Centers in Metro Atlanta, Phoenix for $66.2M

by Camren Skelton May 22, 2018

DECATUR, GA. AND CHANDLER, ARIZ. — Westwood Financial LLC has acquired two Sprouts-anchored retail centers located in Decatur and Chandler for a combined $66.2 million. The properties were acquired in separate transactions, and the individual sales prices were not disclosed. In Atlanta, Westwood acquired Decatur Crossing, an 81,900-square-foot shopping center that was constructed in 2017. Atlanta-based Fuqua Development developed and sold the property, according to the Atlanta Business Chronicle. HFF arranged a loan through Unum Group on behalf of Westwood. Decatur Crossing was fully leased at the time of sale. In Chandler, an eastern suburb of Phoenix, Westwood acquired Boardwalk at Andersen Springs. Constructed in 2005, the property is the home of the original Sprouts Farmers Market. HFF arranged an acquisition loan through Nationwide Life Insurance Co. on behalf of Westwood. Boardwalk at Andersen Springs was 97 percent leased at the time of sale.

May 22, 2018

Acquisitions Georgia Retail South Carolina Southeast

Marcus & Millichap Brokers $13.4M Sale of Two Walmart-Leased Properties in Georgia, South Carolina

by Camren Skelton May 22, 2018

HEPHZIBAH, GA. AND CAYCE, S.C. — Marcus & Millichap has brokered the $13.4 million sale of two properties leased to Walmart Neighborhood Market in Hephzibah and Cayce. The Hephzibah property is located at 3697 Windsor Spring Road, roughly 14 miles south of Augusta. The property sold for $6.6 million. The Cayce building is located at 1355 Knox Abbott Drive, roughly four miles south of Columbia, and sold for $6.8 million. Both properties span 41,921 square feet and were constructed in 2015. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group arranged the transaction on behalf of the seller, Fletcher Bright Co. Harry Collison Jr. of The Real Estate Consortium represented the buyer, McKinley Cos. LLC.

May 22, 2018

Development Illinois Midwest Retail

Lynmark Breaks Ground on Retail Portion of Wheeling Town Center in Suburban Chicago

by Kristin Harlow May 22, 2018

WHEELING, ILL. — The Lynmark Group has broken ground on the retail portion of Wheeling Town Center, including anchor tenant CMX Cinemas, City Works Eatery and Pour House and Starbucks. The developer has also unveiled new tenants such as Mia’s Cantina and 312 Nails & Spa. The 100,000-square-foot commercial plaza is set to open in early 2019. Mexican grill and tequila bar Mia’s Cantina will occupy 4,000 square feet, while 312 Nails & Spa will occupy 2,500 square feet. Wheeling Town Center is a mixed-use development featuring a 300-unit luxury apartment building in addition to retail space.

May 22, 2018

Acquisitions Midwest Missouri Retail

Kimco Sells 89,305 SF Retail Building Occupied by Kohl’s Near St. Louis for $8.6M

by Kristin Harlow May 22, 2018

MANCHESTER, MO. — Kimco Realty Corp. has sold an 89,305-square-foot retail building occupied by Kohl’s in Manchester, a suburb of St. Louis, for $8.6 million. Kohl’s has occupied the property since 1998 and recently executed a 10-year lease extension. The single-tenant building is situated on 9.5 acres at 14425 Andersohn Drive. Marc Mandel, Steve Schrenk and Danny Kaufman of HFF represented Kimco in the sale. The buyer was not disclosed.

May 22, 2018

Features Retail

Phillips Edison: Pop-Up Spaces, Showrooms Reflect Evolution of Retail

by Taylor Williams May 21, 2018

LAS VEGAS — E-commerce has disrupted the market for retail real estate on a seismic level, but it has not obliterated the need for brick-and-mortar shops. Instead, the online shopping craze has functioned as an evolutionary mechanism. E-commerce has forced retail operators and landlords to both bolster their digital platforms and enhance their in-store shopping experiences. “Much has been made of the need for brick-and-mortar retail to adapt to e-commerce, but we’ve also seen a shift in the other direction with a number of e-retailers opening brick-and-mortar showrooms to complement online offerings,” said Mike Conway, vice president of national accounts and retailer partnerships at Phillips Edison. “Overall, we’re confident that the future for retail is bright, and we can’t wait to see how these trends continue to unfold.” For consumers, this evolutionary shift means that retailers are looking to interact more with shoppers in their stores. The manner in which retailers enhance the shopping experience varies from concept to concept. But some trends are beginning to emerge, according to a recent report from Phillips Edison, a REIT specializing in grocery-anchored retail properties. And the use of pop-up spaces and showrooms are two of the leading practices for retailers to consider …

May 21, 2018

Leasing Activity Retail Texas

Fitness Chain to Open Two New Gyms in Dallas Area

by Taylor Williams May 21, 2018

ADDISON AND KELLER, TEXAS — Hotworx, a fitness concept that centers on virtual exercise programs in high-temperature settings, will open two new gyms in the Dallas area. The company will open a 2,100-square-foot gym in Addison and a 1,750-square-foot gym in Keller, with both locations targeting August openings. Sean Lockovich of Henry S. Miller Brokerage (HSM) represented Hotworx in both lease negotiations. The gyms will be the third and fourth locations for Hotworx in the Dallas area.

May 21, 2018

Acquisitions Retail Texas

CBRE Brokers Sale of 67,334 SF Retail Property in Metro Houston

by Taylor Williams May 21, 2018

CYPRESS, TEXAS — CBRE has brokered the sale of a 67,334-square-foot retail property in Cypress, a northwestern suburb of Houston. The property is situated on 6.9 acres at 12220 Barker Cypress Road. Matthew Berry of CBRE represented the seller, Randall’s Food & Drugs LP, which operates out of the property. Williamsburg Acquisitions LLC purchased the property for an undisclosed price.

May 21, 2018

Acquisitions Florida Retail Southeast

Macken Sells Walmart-Anchored Retail Center Near Miami for $11.9M

by Camren Skelton May 21, 2018

MIAMI GARDENS, FLA. — Macken Cos. has sold Palmetto Design Center, a 62,500-square-foot shopping center in Miami Gardens, located roughly 15 miles north of Miami. Rise Star LLC acquired the asset for $11.9 million. A joint venture between Macken Cos. and Zvi Shiff of DZD Holdings completed construction on the center in 2016. A 41,800-square-foot Walmart Neighborhood Market anchors Palmetto Design Center. Additional tenants include T-Mobile, Edible Arrangements, OPI Nails and Laundromat. In addition, the sale included a 0.75-acre outparcel that will be the site of a full-service Spin Car Wash. Walmart has 17 years remaining on its lease with 16 five-year extension options. The other tenants all have four years remaining on their respective leases, with extension options ranging from five to 25 years.

May 21, 2018

Acquisitions Northeast Pennsylvania Retail

HFF Arranges $55.2M Sale of Retail Center in Lehigh Valley

by David Cohen May 21, 2018

ALLENTOWN, PA. — HFF has arranged the $55.2 million sale of MacArthur Commons, a 371,886-square-foot, grocery-anchored retail center located at 2631 MacArthur Road in Lehigh Valley. HFF represented the seller, an affiliate of Abrams Realty & Development, in the transaction. HFF also arranged $50.4 million in acquisition financing for the undisclosed buyer. The buyer was able to obtain long-term lease extensions with the anchor tenants. Current tenants at the 47-acre center include GIANT Food Stores, Dick’s Sporting Goods, Big Lots and T.J.Maxx.

May 21, 2018

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