DALLAS — Locally based retail brokerage firm STRIVE has arranged the sale of a 50,267-square-foot retail property in Dallas. The spaces are primarily leased to Burlington and Planet Fitness. Jennifer Pierson and Hudson Lambert of STRIVE represented the seller, a locally based partnership, and procured the buyer, an institutional out-of-state investor, in the transaction.
NEWARK, DEL. — Atlantic Realty Cos., a Virginia-based development, investment and brokerage firm, has sold a 145,400-square-foot shopping center located at 230 E. Main St. in Newark for $33.5 million. Built in 1955 and renovated in 2017, the center was 93 percent leased at the time of sale to a roster of 31 tenants, with grocer Newark Natural Foods and Main Street Movies 5 serving as the anchors. Other retailers and restaurants include PNC Bank, Wing Stop, Dollar Tree, Goodwill, T-Mobile and Tropical Smoothie Café. Gil Neuman of Neuman Commercial Group represented Atlantic Realty in the transaction. The buyer was not disclosed.
NEW YORK CITY — Five Iron Golf will open a 30,000-square-foot entertainment center at 101 Park Ave. in Manhattan. The space will house the concept’s signature golf simulators, widescreen TVs, leisure games and a full-service restaurant and bar. Anthony Dattoma of CBRE and Jason Goode of Compass Real Estate represented Five Iron Golf in the lease negotiations. John Cefaly and Nicholas Dysenchuk of Cushman & Wakefield represented the landlord, H.J. Kalikow & Co. A tentative opening date was not disclosed.
INDIANAPOLIS — COhatch and North High Brewing have opened at Circle Centre Mall in Indianapolis. CoOhatch offers coworking spaces, private offices and meeting and event space. North High Brewing features a selection of craft beers as well as a food menu. This is the second location for the brewery in the Indianapolis market. JLL manages and leases Circle Centre, which spans more than 700,000 square feet.
OMAHA, NEB. — Grandbridge has arranged a $3.3 million loan for the refinancing of Brentwood Village shopping center in Omaha. The property is fully leased. Brett Olson and Jeff Witt of Grandbridge arranged the fixed-rate, seven-year loan. A local bank provided the loan to the borrower, City+Ventures.
ALLEN, TEXAS — High 5 Entertainment, an Austin-based concept, will open a 70,000-square-foot venue at The Farm in Allen, a 135-acre mixed-use development located on the northeastern outskirts of Dallas. In addition to craft food and beverages, the entertainment center will feature bowling, laser tag, axe throwing, escape rooms, minigolf and private event spaces. The main facility will span 45,000 square feet, with the outdoor minigolf course accounting for the remaining 25,000 square feet. The opening is slated for fall 2023. JaRyCo is the master developer of The Farm in Allen.
FORT WORTH, TEXAS — Trademark Property Co. has welcomed seven new tenants to WestBend, the locally based developer’s mixed-use destination in Fort Worth. Four food and beverage concepts — fast casual eatery Sweetgreen, confectionary Van Leeuwen, burger chain Shake Shack and global culinary experience Quince — are scheduled to open before the end of the year. The Shade Store, a concept that specializes in window shades and blinds, will also debut in the fourth quarter. In addition, ear piercing salon Rowan and Karl’s Fishing & Outdoors are now open. The seven new leases total 17,102 square feet.
CONYERS, GA. — A joint venture between M Street Holdings and Highline Real Estate Capital has acquired Conyers Commons, a 118,916-square-foot shopping center in the Atlanta suburb of Conyers. The undisclosed seller sold the property for approximately $17 million, or $142.53 per square foot. Chris DeCoufle, Kevin Hurley and Matt Karempelis of CBRE brokered the transaction on behalf of the seller, and BankUnited provided acquisition financing for M Street and Highline. Conyers Commons represents the joint venture’s second transaction in the Atlanta market this year. Anchored by Ross Dress for Less and Bealls Outlet, Conyers Commons’ tenant roster includes pOpShelf, Smoothie King, Mattress Firm, CitiTrends, Panda Express and Kirkland’s. The property is shadow-anchored by Target and is situated adjacent to a 240-unit single-family neighborhood under construction.
TOTOWA, N.J. — Marshalls has opened a 50,000-square-foot store at Totowa Square, a 258,000-square-foot retail power center in Northern New Jersey. The discount retailer is backfilling a space formerly occupied by Toys ‘R’ Us. Brian Katz and Amy Staats of Katz & Associates represented the landlord in the lease negotiations. Jerry Welkis of Welco Realty represented the tenant. The center is now 97 percent leased.
LANCASTER, CALIF. — Newmark has arranged the sale of Valley Central, a community shopping center in Lancaster. The property traded for $45.2 million. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark led the transaction. Situated on more than 35 acres at 44400 Valley Central Way, Valley Central features 375,541 square feet of retail space. At the time of sale, the property was 68 percent occupied. Current tenants include Marshalls, Staples, Michaels, 99 Cents Only, Burlington, Planet Fitness, Five Below, Chuck E. Cheese, Black Angus Steakhouse, Party City, GameStop, Sola Salon Studios, Starbucks Coffee, Sport Clips, Sally Beauty Supply, America’s Tires, Jersey Mike’s Subs, Vans, Leslie’s Pool Supplies and Uptown Cheapstake.