Retail

Sarofim Realty Advisors Sells 343,748 SF Plaza Fiesta Shopping Center in Atlanta

by John Nelson November 8, 2022

ATLANTA — Sarofim Realty Advisors has sold Plaza Fiesta, a 343,748-square-foot retail center located on Buford Highway in northeast Atlanta. Chris Decoufle, Kevin Hurley, Matt Karempelis, Mike Burkard and Steve Shields of CBRE represented the seller in the transaction. Charlotte-based Asana Partners acquired the property for an undisclosed price. Mercado Fresco, a Hispanic grocery store, anchors the plaza, which was 95 percent leased at the time of sale. Plaza Fiesta’s tenant roster includes Ross Dress for Less, Planet Fitness, Ollie’s, Aaron’s, and a freestanding CVS/pharmacy and QuikTrip.

November 8, 2022

Development Healthcare Leasing Activity Mixed-Use Montana Retail Western

Corning Cos. Begins $50M Redevelopment of Gallatin Valley Mall in Bozeman, Montana to Include State’s First Whole Foods

by Amy Works November 8, 2022

BOZEMAN, MONT. — Corning Cos. is currently underway on a $50 million, multi-phase redevelopment of Gallatin Valley Mall, a retail center located in Bozeman. To be known as Gallatin Crossing, the mixed-use property will feature retail, entertainment and medical space, including a 45,000-square-foot medical pavilion that will bring together Intermountain Healthcare and Ortho Montana PSC. Whole Foods Market will also join the property with a location that marks its first in the state. The first phase of development for the project, which began in September 2022, is scheduled for completion later this year. A second phase — which will include façade upgrades, updated parking and refreshed landscaping, signage and lighting — is scheduled to begin in spring 2023. Grossman Development Group, Boston Realty Advisors and Situs Realty Group are working with owner Corning Cos. on the project.

November 8, 2022

Acquisitions Retail Texas

Partners Buys 99,001 SF Mason Point Shopping Center in Katy, Texas

by Taylor Williams November 8, 2022

KATY, TEXAS — Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, has purchased Mason Point Shopping Center, a 99,001-square-foot retail property located on the western outskirts of Houston in Katy. Charlie Strauss of JLL represented the undisclosed seller in the transaction. Origin Bank provided acquisition financing. The property was 90 percent leased at the time of sale to tenants such as Maaco, CSDS Vinyl and Rosa’s Pizza.

November 8, 2022

Leasing Activity Retail Texas

Academy Sports + Outdoors Opens 50,000 SF Store in Houston

by Taylor Williams November 8, 2022

HOUSTON — Academy Sports + Outdoors has opened a 50,000-square-foot store at 8715 W. Loop S in Houston. The location in the city’s historic Meyerland neighborhood marks the 33rd in the greater Houston area and 107th in Texas for the locally based athletic equipment and apparel retailer. Academy also plans to open 80 to 100 new stores nationwide over the next five years.

November 8, 2022

Market Reports Retail Washington Western Western Market Reports

Seattle’s Retail Sector Proves Resilient

by Jeff Shaw November 8, 2022

By Dino A. Christophilis, Senior Vice President, CBRE; Daniel Tibeau, Associate, CBRE; and Parker Ksidakis, Associate, CBRE Few sectors were as disrupted by the pandemic as retail. While 2020 proved to be a tumultuous year, the last year and a half have demonstrated the resiliency of retail — both in Seattle and nationally. The Seattle economy is performing well for a recovering retail sector, with continued employment growth and increasing retail spending. The Puget Sound is notorious for its lack of new retail development, and the recent years have been no exception. The environment of increasing demand with a flat level of supply results in positive conditions for existing retail space. Like much of the nation, concerns persist in Seattle around inflation, increasing debt costs and a potential slowing in the global economy. However, the situation in Seattle is more positive and nuanced. Growing Investment Activity Year to date, Seattle is poised to outperform the prior year in terms of total investment dollars. The second quarter of 2022 experienced 65 percent greater investment volume relative to the same quarter in 2021. This figure is particularly notable as 2021 was an exceptional year. Investors deployed pent-up capital that was held during the height of the pandemic. Total retail …

November 8, 2022

Acquisitions Florida Retail Southeast

CrossMarc, MCB Acquire 202,050 SF Shopping Center in Melbourne, Florida

by John Nelson November 7, 2022

MELBOURNE, FLA. — A joint venture between CrossMarc Services LLC and MCB Real Estate — in partnership with Peaceable Street Capital — has purchased Post Commons, a 202,050-square-foot shopping center located in Melbourne. Anchored by a 44,270-square-foot Publix store, as well as a Beall’s and Pet Supermarket, the center was 96 percent leased at the time of sale. Other tenants at the property include Burlington and Five Below. Marcus & Millichap represented the undisclosed seller in the transaction. Flavia Kanyago of CrossMarc will handle leasing at the center.

November 7, 2022

Development Retail Texas

H-E-B to Open 100,000 SF Grocery Store in Northwest Houston

by Taylor Williams November 7, 2022

HOUSTON — Texas-based grocer H-E-B will open a 100,000-square-foot store within Bridgeland Central, a 925-acre mixed-use development by Howard Hughes Corp. (NYSE: HHC) in northwest Houston. The store will be situated on a 23-acre tract that will also house a 49,000-square-foot office building. This piece of the larger development will be branded Village Green at Bridgeland Central. Tal McIver of McIver Properties represented H-E-B in the lease negotiations. Eric Walker of Capital Retail Partners represented Howard Hughes Corp. The grocery store and office building are both scheduled to come on line in 2024.

November 7, 2022

Acquisitions Arizona Restaurant Retail Western

Phoenix Commercial Advisors Brokers $22M Sale of The Pavilions Shopping Center in Mesa, Arizona

by Amy Works November 7, 2022

MESA, ARIZ. — Phoenix Commercial Advisors has facilitated the sale of The Pavilions, a neighborhood retail center at the southeast corner of Dobson and Guadalupe roads in Mesa. The asset traded for $22 million, or $170 per square foot. The names of the seller and buyer were not released. At the time of sale, the 129,674-square-foot property was 96 percent leased. Current tenants include Great Clips, Banner Urgent Care, Native Grill & Wings, Over Easy and Villa Tuscana, a reception hall for weddings and other large events. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.

November 7, 2022

Leasing Activity New York Northeast Retail

T.J. Maxx Opens 24,000 SF Store at Woodbury Plaza in Plainview, New York

by Taylor Williams November 7, 2022

PLAINVIEW, N.Y. — T.J. Maxx has opened a 24,000-square-foot store at Woodbury Plaza, a 102,000-square-foot center located in the Long Island community of Plainview. The discount retailer has backfilled a space formerly occupied by Bed Bath & Beyond. Robert Delavale represented the landlord, Breslin Realty, in the lease negotiations on an internal basis. The representative of the tenant was not disclosed.

November 7, 2022

Acquisitions Colorado Retail Western

Quantum Commercial Group Negotiates $1.3M Sale of Retail Asset in Colorado Springs

by Amy Works November 7, 2022

COLORADO SPRINGS, COLO. — Quantum Commercial has brokered the sale of a retail property located at 723-725 E. Filmore St. in Colorado Springs. Next Genesis LLC sold the asset to 725 E. Filmore LLC for $1.3 million. The property features 5,512 square feet of retail space. Andrew Oyler of Quantum Commercial Group represented the seller, while Simon Penner of Miramount Commercial represented the buyer in the transaction.

November 7, 2022

Newer Posts

Older Posts