Retail

IPA Arranges $20.5M Sale of Shopping Center in South Florida

by Alex Tostado November 30, 2020

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.

November 30, 2020

District of Columbia Retail Southeast

NRF Forecasts Holiday Sales to Grow up to 5.2 percent Despite COVID 19 Pandemic

by Alex Tostado November 30, 2020

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. …

November 30, 2020

Development Retail Texas

H-E-B to Open 122,222 SF Grocery Store in New Braunfels, Texas

by Taylor Williams November 30, 2020

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.

November 30, 2020

Leasing Activity Restaurant Retail Texas

Mooyah Burgers to Debut 10 Restaurants in Dallas-Fort Worth, Create 250 Jobs

by Taylor Williams November 30, 2020

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.

November 30, 2020

Acquisitions Company News New Jersey New York Northeast Retail Top Stories

Premium Apparel Agrees to Acquire Multiple Clothing Brands from Ascena Retail Group for $540M

by Taylor Williams November 30, 2020

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, …

November 30, 2020

Acquisitions Florida Retail Southeast

JLL Arranges $26.3M Sale of Publix-Anchored Shopping Center in Metro Orlando

by Alex Tostado November 25, 2020

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.

November 25, 2020

Georgia Leasing Activity Retail Southeast

Artisan Pop-Up Market to Open Within Buckhead Village in Atlanta

by Alex Tostado November 25, 2020

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.

November 25, 2020

Civic Development Retail Texas

Major League Cricket To Develop First Stadium in Grand Prairie, Texas

by Taylor Williams November 25, 2020

GRAND PRAIRIE, TEXAS — Major League Cricket (MLC) has received approval from the City of Grand Prairie on a long-term lease agreement to redevelop the 5,445-seat AirHogs Stadium in Grand Prairie into the organization’s first major cricket venue in the United States. The stadium is currently the home field of the Texas Airhogs Minor League Baseball team. The project will increase the seating capacity to accommodate more than 8,000 spectators with additional and upgraded hospitality features and amenities. International architecture firm HKS has been tapped to design the project. Upon completion in 2022, the venue will house the Dallas franchise of MLC, as well as the headquarters of USA Cricket, the sport’s national governing body. MLC plans to launch its inaugural season in 2022, with the stadium expected to be ready for cricket by the spring of that year.

November 25, 2020

Acquisitions Illinois Midwest Retail

JLL Brokers $5.1M Sale of CVS Ground Lease in Schaumburg, Illinois

by Kristin Harlow November 25, 2020

SCHAUMBURG, ILL. — JLL Capital Markets has brokered the $5.1 million sale of a CVS Pharmacy ground lease in the Chicago-area community of Schaumburg. Completed in 2005, the single-tenant building spans 13,180 square feet. It is situated on 1.8 acres at 1855 W. Irving Park Road. Alex Sharrin and Alex Geanakos of JLL represented the seller, a New York-based, high-net worth individual. A California-based DST provider purchased the asset. CVS operates roughly 9,000 locations nationwide and all have remained open throughout the pandemic.

November 25, 2020

Acquisitions Illinois Midwest Retail

Boulder Group Arranges $1.6M Sale of ATI Physical Therapy-Occupied Property in Grayslake, Illinois

by Kristin Harlow November 25, 2020

GRAYSLAKE, ILL. — The Boulder Group has arranged the $1.6 million sale of a single-tenant, net-leased property occupied by ATI Physical Therapy in Grayslake, about 40 miles north of Chicago. The 3,942-square-foot building is located at 500 Center St. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a private real estate developer. A Midwest-based buyer purchased the asset. ATI has a new 10-year lease at the property. The physical therapy company maintains 823 locations across the country.

November 25, 2020

Newer Posts

Older Posts