Retail

Karlin Real Estate Opens Dining, Entertainment Venue at Austin FC Training Facility

by Taylor Williams January 31, 2022

AUSTIN, TEXAS — Karlin Real Estate has opened The Pitch, a dining and entertainment venue at the training facility of Austin FC, the city’s professional soccer team. The venue features food and beverage concepts Ranger Burger, Taco Flats, Sand Bar, Coffee Club and Corner Kick Bar. In addition, The Pitch houses a 1,200-seat stadium with an artificial soccer field, a five-acre pond with jogging trails and sand volleyball courts, an events center and a TV viewing area. Mark Odom Studio and STG Design served as the project architects. Corner Kick Hospitality Group operates the venue.

January 31, 2022

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers $7.3M Sale of Retail Center in Wheaton, Illinois

by Kristin Harlow January 31, 2022

WHEATON, ILL. — Marcus & Millichap has brokered the sale of Shops of Wheaton for $7.3 million. The 79,151-square-foot retail center is located at 1101 Butterfield Road in Wheaton, about 25 miles west of Chicago. The property is 91 percent occupied, and anchor tenants include Anytime Fitness and Fox Bowl. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a local private investor. Weisenbeck, Sharko and colleague Kevin Wiersema secured and represented the buyer, a New Jersey-based limited liability company.

January 31, 2022

Loans Northmarq Retail Texas

Northmarq Arranges $11.5M Acquisition Loan for Metro Dallas Shopping Center

by Taylor Williams January 31, 2022

GARLAND, TEXAS — Northmarq has arranged an $11.5 million acquisition loan for North Garland Crossing, a 75,811-square-foot shopping center in the northeastern Dallas suburb of Garland. Shadow-anchored by a Super Target, the center was built in 2004 and houses tenants such as Michaels, PetSmart, AT&T and Starbucks. David Garfinkel and Ron Reese of Northmarq arranged the debt on behalf of the buyer, St. Louis-based Bianco Properties. Mutual of Omaha provided the loan.

January 31, 2022

Acquisitions New York Northeast Retail

CBRE Negotiates $79.5M Sale of Shopping Center in Chappaqua, New York

by Taylor Williams January 31, 2022

CHAPPAQUA, N.Y. — CBRE has negotiated the $79.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center located in New York’s Westchester County that is part of the redevelopment of the 114-acre former Reader’s Digest headquarters campus. Tenants at the newly built center include anchors Whole Foods Market and Life Time Fitness, as well as Starbucks and Chase Bank. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the seller, a joint venture between global investment advisor Summit Development and The Grossman Cos., in the transaction. The team procured an undisclosed investment management firm as the buyer.

January 31, 2022

Acquisitions Massachusetts Northeast Retail

Sterling Organization Acquires Metro Boston Retail Property for $44.3M

by Taylor Williams January 31, 2022

BRAINTREE, MASS. — The Sterling Organization, a Florida-based investment firm, has acquired Stop & Shop Plaza, a 173,798-square-foot retail property located on an 18.7-acre site in the southern Boston suburb of Braintree, for $44.3 million. Grocer Stop & Shop anchors the property, which also houses tenants such as CVS Pharmacy, Town Fair Tire, The Paper Store and Crunch Fitness. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction.

January 31, 2022

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Brokers $13.4M Sale of Shopping Center in Gloucester, Massachusetts

by Taylor Williams January 31, 2022

GLOUCESTER, MASS. — Marcus & Millichap has brokered the $13.4 million sale of Cape Ann Marketplace, a 102,977-square-foot shopping center in the coastal Massachusetts city of Gloucester. Grocer Shaw’s serves as the center’s anchor tenant. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller and sourced the buyer, both of which requested anonymity, in the transaction.

January 31, 2022

Florida Leasing Activity Retail Southeast

Four Retailers to Open at CocoWalk in Miami’s Coconut Grove Neighborhood

by Julia Sanders January 28, 2022

MIAMI — Four new dining concepts and retailers are opening at CocoWalk, a 150,000-square-foot, mixed-use project in Miami’s Coconut Grove district. The project is led by an ownership group including Federal Realty Investment Trust, The Comras Co. and Grass River Property. David Grutman’s Groot Hospitality will open The Key Club, a restaurant, at CocoWalk. Additionally, Ariete Hospitality Group will also open a new restaurant at CocoWalk this year. Narbona Natural Food & Farm Market is set to open this spring in an 8,253-square-foot space. This market location will become Narbona’s second location to open in South Florida. Lastly, Cinépolis, a movie theater concept, is scheduled to open this year. The new retailers and restaurants join a tenant line-up including Planta Queen, Mister 01 Extraordinary Pizza, Sweetgreen and Salt & Straw, as well as Bluemercury, Edward Beiner, The Spot Barbershop and School of Rock. In August of last year, the owners of CocoWalk announced other planned tenants including GlossLab, a membership-based nail studio; Infinity, a fitness studio; Skin Lab by Barba Skin Clinic; and 3D Brow Studio, a beauty bar specializing in curating eyebrows.

January 28, 2022

Georgia Leasing Activity Retail Southeast

Branch Signs Two New Retailers to Join Peachtree Battle Shopping Center in Atlanta’s Buckhead District

by Julia Sanders January 28, 2022

ATLANTA — Locally based Branch Properties has signed leases for two new tenants to join Peachtree Battle Shopping Center, a 168,000-square-foot, grocery-anchored center in the Buckhead neighborhood of Atlanta. Located off Peachtree Road, Peachtree Battle Shopping Center features over 50 tenants, including a 32,836-square-foot Publix, Walgreens, Ace Hardware and Baskin-Robbins. The new tenants include Roshambo and Cava. Roshambo, a new concept from local restaurant group Unsukay, will open at the center in a 4,000-square-foot space. The restaurant is set to open this summer. Cava, a Mediterranean fast-casual restaurant chain, will occupy a 2,300-square-foot space at the center. The Mediterranean restaurant is expected to open this month.

January 28, 2022

Leasing Activity Michigan Midwest Restaurant Retail

Sugar Factory to Open in Downtown Detroit This Spring

by Kristin Harlow January 28, 2022

DETROIT — Sugar Factory American Brasserie is set to open in downtown Detroit late this spring. The First Michigan location for the brand will be located at 45 Monroe St. within Bedrock’s One Campus Martius building. The 233-seat restaurant will also feature Sugar Factory’s candy store. The main dining area will offer both indoor and outdoor seating, along with décor including neon signs, floral walls and a candy heart wall. Sugar Factory serves breakfast, lunch and dinner. Its most legendary dessert is the King Kong Sundae, which serves up to 12 people and features 24 scoops of ice cream.

January 28, 2022

California Company News Leasing Activity Retail Western

First Commercial Property Management to Operate Two Shopping Centers in Arizona, California

by Amy Works January 28, 2022

PHOENIX AND MENIFEE, CALIF. — Upland-based 1st Commercial Property Management has been selected to operate two retail centers in Arizona and California. The company will provide management services for Arcadia Crossing Shopping Center, which features more than 450,000 square feet of retail space. Fry’s Food and Drug, Ross Dress for Less, Target, Petco, Burlington and Conn’s Home Plus are tenants at the property. A private foreign owner has selected 1st Commercial to provide property management services for Countryside Marketplace in Menifee. Built in 2008 on 32 acres, the 721,000-square-foot property is fully leased. Current tenants include Super Target, Lowe’s Home Improvement Warehouse, Kohl’s, Best Buy, T.J. Maxx, HomeGoods, Michaels, Burlington, Staples, Petco and Boot Barn.

January 28, 2022

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