THE COLONY, TEXAS — Electric Gamebox, a British entertainment concept centered on interactive gaming, will open a 4,000-square-foot venue at Grandscape, the 433-acre mixed-use destination in the northern Dallas suburb of The Colony. The venue, which is expected to open this month, will be Electric Gamebox’s first in the United States. Nebraska Furniture Mart is leading the development of the retail components of Grandscape.
Regency Centers Sells Retail Building Leased to Whole Foods in Swampscott, Massachusetts, for $19.2M
SWAMPSCOTT, MASS. — Regency Centers, a Florida-based shopping center REIT, has sold a 35,907-square-foot retail building leased to Whole Foods Market in Swampscott, about 30 miles northeast of Boston. The sales price was $19.2 million. Whole Foods has occupied the building, which sits on roughly five acres, for more than 15 years. Chris Angelone, Nat Heald and Eric Suffoletto of JLL represented Regency Centers in the transaction and procured the buyer, locally based investment firm Academy Hill Realty.
AKRON, OHIO — First National Realty Partners (FNRP) has acquired West Market Street Station in Akron. The Whole Foods Market-anchored shopping center is located at 1745 W. Market St. It spans 54,232 square feet and opened in September 2017. Other tenants include Lululemon, PetPeople, Orangetheory Fitness, Moe’s Southwest Grill, Great Clips and Salon Lofts. This is the first Whole Foods within FNRP’s shopping center portfolio. Fain Hicks, Margaret Jones, Lane Breedlove, Evan Halkias and Michael Marks of Cushman & Wakefield represented the seller, S.J. Collins Enterprises, in the transaction. Mike Ryan, Richard Henry and Brian Linnihan of Cushman & Wakefield secured $11.9 million in acquisition financing on behalf of First National Realty Partners for the purchase. A life insurance company provided the loan.
WESTON, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $20.5 million sale of Waterway Shoppes of Weston, a 36,000-square-foot shopping center in Weston. The asset was built in 1999 on five acres at the intersection of Weston Road and North Commerce Parkway, 18 miles west of downtown Fort Lauderdale. Tenants at the property include Hooter’s, Posh Nails, CycleBar, Bank United, Baru Latin Bar, Lucille’s American Café and Offerdahl’s Off-the-Grill. Waterway Shoppes of Weston offers outdoor seating overlooking a body of water for its restaurant tenants. Kirk Olson and Drew Kristol of IPA represented the seller, a private investor based in Miami, in the transaction. Gordon Messinger of Cushman & Wakefield represented the buyer, an undisclosed private investor also based in Miami.
WASHINGTON, D.C. — Retail consumers have shown excitement for holiday shopping this year, says Matthew Shay, president and CEO of the National Retail Federation (NRF). Because of the challenges of this year, Shay and the NRF believe people will buy gifts that may “lift the spirits of family and friends.” The NRF has forecasted U.S. holiday sales to grow between 3.6 percent and 5.2 percent compared to 2019. The expected growth would mean a range between $755.3 billion and $766.7 billion in sales for the season, which NRF defines as November and December. NRF says the average year-over-year growth for the past five holiday seasons has been 3.5 percent. Online and non-store sales are expected to jump between 20 and 30 percent, according to the NRF, for a total of $202.5 billion to $218.4 billion. Holiday sales in 2019 totaled $168.7 billion. Due to pandemic-related reasons, large swaths of people have not been shopping in-person this year, a trend the NRF expects to see continue through December. “We know this holiday season will be unlike any other, and retailers have planned ahead by investing billions of dollars to ensure the health and safety of their employees and customers,” says Shay. …
NEW BRAUNFELS, TEXAS — Locally based grocer H-E-B will open a new, 122,222-square-foot store at 651 S. Walnut Ave. in the San Antonio suburb of New Braunfels. An existing 99,000-square-foot H-E-B store opened in that market in 1994. The project, construction of which is slated to begin early next year, has a price tag of $17.5 million. The opening is slated for the fourth quarter of 2021.
PLANO, TEXAS — Mooyah Burgers, Fries & Shakes, a Plano-based fast casual concept, will open 10 new restaurants throughout the metroplex, an expansion that is expected to create about 250 new jobs. All 10 of these locations will feature the brand’s new prototype with new dining zones, digital menus, a grab-and-go bottled beverage fridge and to-go shelving. Mooyah currently operates about 75 restaurants across 23 states.
NEW YORK CITY AND MAHWAH, N.J. — Premium Apparel LLC, an affiliate of New York City-based private equity firm Sycamore Partners, has entered into an agreement to purchase multiple clothing brands from Mahwah-based Ascena Retail Group (OTCMKTS: ASNAQ) for $540 million. The apparel and footwear brands in question include Ann Taylor, LOFT, Lane Bryant and Lou & Grey. Under the terms of the deal, which is expected to close by mid-December, Premium Apparel will acquire the brands on a cash-free and debt-free basis. Premium Apparel did not specify how many of brick-and-mortar stores will be affected by the transaction, but the new ownership did say that it remains committed to retaining a “substantial portion” of stores and employees affiliated with these brands. “Ann Taylor, LOFT, Lane Bryant and Lou & Grey are well-known brands, each with passionate associates and loyal customers,” says Stefan Kaluzny, managing director of Sycamore Partners. “These brands have significant potential, and we are excited about the opportunity to partner with Ascena’s talented team to continue delivering new and relevant experiences for customers.” Ascena Retail Group, which operated about 1,500 stores throughout the country as of late August, filed for Chapter 11 bankruptcy in July. In September, …
KISSIMMEE, FLA. — JLL has arranged the $26.3 million sale of Osceola Village, a 122,845-square-foot, Publix-anchored shopping center in Kissimmee. The center, which was delivered in 2008, was 82 percent leased at the time of sale to tenants including DaVita Kidney Care, Orlando Health and Visionworks. The asset is situated on 20 acres at 3040 Dyer Blvd., 22 miles south of downtown Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, an affiliate of Glenborough LLC, in the transaction. New York City-based East Coast Acquisitions purchased the property.
ATLANTA — Village Supply, a pop-up market focusing on women- and minority-owned businesses, will open within Buckhead Village in Atlanta. Vendors will be able to showcase their products at the store, which is situated at 272 Buckhead Ave., between Warby Parker and Bella Cucina. The store will be open from 10 a.m. to 7 p.m. Thursday to Saturday, and from noon to 5 p.m. Sundays. The vendor lineup will rotate regularly. The initial lineup includes Cheese Me, which is open through November; Made Leather Co. and Botanical Safari, which will open Black Friday and remain in the store until January 2021; and BreezKakes, which will be open from Dec. 3 to 6. Jamestown acquired Buckhead Village in July 2019. The 355,646-square-foot property was built in 2014 and features office, retail and restaurant space. The office space is leased to Spanx and No18 coworking. Retailers include Hermes and Tom Ford, as well as entertainment and fitness concepts.