PROVIDENCE, R.I. — Marsella Development Corp. will open Track 15, a $25 million, 18,000-square-foot food hall that will be situated within the historic Union Station building in Providence. Track 15 will be home to food vendors including Little Chaska, Tolia, Dune Brothers, Dolores, There There, Giusto PVD and Mother Pizzeria PVD. In addition to the vendor spaces, the development will feature indoor and outdoor seating for roughly 600 people, an entertainment venue and a 10,000-square-foot plaza. Construction is underway, and the opening is scheduled for February 2025.
GREENVILLE, S.C. — RocaPoint Partners has added four new food-and-beverage tenants to join the roster at Greenville County Square, a $1 billion mixed-use redevelopment in downtown Greenville. Mama’s Comfort Food & Cocktails, Leo’s Italian Social, CRÚ Food & Wine Bar and MOA Korean Barbeque have signed on to join the 40-acre project, which will be anchored by a Whole Foods Market grocery store. The new concepts bring the number of committed eateries at Greenville County Square to 15, including The Perch Kitchen & Tap, The Salty Donut, Ben & Jerry’s and JINYA Ramen. Other tenants will include Pins Mechanical, Fairway Social, Sports & Social and Agave Bandido as the entertainment anchors and national retailers William Sonoma and Pottery Barn. The development also houses Greenville County’s newly opened 250,000-square-foot administrative building.
CAMBRIDGE, MASS. — New England Development has added two new food-and-beverage concepts to CanalSide Food + Drink, a food hall located within its Cambridgeside mixed-use development. Juicygreens and Far Out Ice Cream will join the roster at CanalSide, which opens on Friday, Oct. 25. Other concepts at the food hall include anoush’ella, Caffé Nero, Chilacates, DalMoros Fresh Pasta To Go, Fresh, InChu, Lala’s Neapolitan-ish Pizza, Nu Burger, Sapporo Ramen, Teazzi Tea Shop and C-Side Bar.
EL CAJON, CALIF. — Marcus & Millichap has arranged the sale of a mixed-use property located at 245 E. Main St. in downtown El Cajon. Syrian Investments acquired the asset from Ronald L. Bain for $2.6 million. The buyer plans to occupy the building and open its second restaurant on the street occupying the ground floor. Built in 2007, the fully vacant building offers 10,734 square feet of retail, office and apartment space, a rear parking lot, roll-up door, alley access and Main Street frontage. Nick Totah and Joseph Gutierrez of Marcus & Millichap represented the seller, while Na’il Salem of Premiere Homes procured the buyer in the deal.
HOUSTON — Marquette Cos., an Illinois-based multifamily developer, has received approval from the Houston Planning Commission for a 20,000-square-foot commercial project that will be located along the 2600 block of Keene Street near White Oak Music Hall. The new building is slated for a 2025 delivery and will be marketed to bars, restaurants, coffee shops and other retail users. The single-story building will be located across the street from Tempo at White Oak, Marquette’s 304-unit multifamily project that is nearing completion.
Louisville’s economy remains resilient, and regional economic growth is creating a strong foundation for the retail market. Greater Louisville Inc. recently announced that 72 businesses are considering relocating or expanding to the region, with the potential of 8,200 new jobs and $3.8 billion in economic investment. Louisville is well-positioned for growth and the retail outlook remains strong with historically low vacancy rates. The market’s expanding consumer base and resilient economy have mostly overcome headwinds such as interest rate fluctuations, volatility in capital markets and signs of a slowing economy. This resilience has put Louisville in a strong position moving into the last quarter of 2024. At the end of the second quarter, Louisville’s vacancy rate stood at a strong 3.4 percent, outperforming the national benchmark of 4.1 percent, according to CoStar Group. The limited amount of new retail construction over the past 18 months has played a significant role in keeping the vacancy rate low. In fact, only roughly 322,000 square feet of retail space has been delivered over the past 12 months. Grocers are pushing leasing activity, making up 36 percent of the leasing volume that past 12 months. These retailers are executing most of the activity in spaces …
PHOENIX — RED Development has begun construction on PV, the $2 billion redevelopment of a 100-acre site in Phoenix formerly occupied by Paradise Valley Mall. Phase I of the project will include retail, dining and entertainment space anchored by Whole Foods Market; AVE Paradise Valley, a 400-unit multifamily community; and a 77,000-square-foot co-headquarters for Fender Musical Instruments Corp. Each component of the development will be linked via centrally located parks. A groundbreaking was recently held for the office portion of the development — a three-story building designed by SmithGroup to be occupied solely by Fender. Scheduled for completion in fall 2025, the complex will feature a dedicated model shop for its guitar and amplifier designers, an upscale sound room, café, meeting rooms and flexible workspaces. Openings began on the retail portion of the project last week and will continue through the end of this year. Tenants will include Flower Child, Blanco Cocina + Cantina, The Melt, Trevor’s Liquor, Wren House Brewing Co., Frost Gelato, Sephora, Hammer & Nails, SkinSpirit and European Wax Center. AVE Paradise Valley is currently preleasing with move-ins scheduled to begin in November. The mid-rise community offers studio, one-, two- and three-bedroom units with private patios or …
KETCHIKAN, ALASKA — Crystal Investment Property (CIP), a member of Hotel Brokers International, has arranged the sale of The Landing Hotel, Restaurant & Pub in Ketchikan. CIP’s Joseph Kennedy, along with Mary Wanzer, a licensed Alaska broker, represented the undisclosed seller in the deal. The name of the buyer and acquisition price were not released. Located at 3434 Tongass Ave., The Landing Hotel, Restaurant & Pub is a 107-key, independent mid-scale hotel. The full-service property offers flexible meeting and events space, event planning and catering for onsite and offsite events, a lounge area, fireplace, business center, fitness center and courtesy shuttle service. Additionally, the hotel is home to two dining options: The Landing Restaurant and Jeremiah’s Pub.
COON RAPIDS, MINN. — The Boulder Group has arranged the $3.4 million sale of a single-tenant retail property net leased to Outback Steakhouse in Coon Rapids within metro Minneapolis. The 6,268-square-foot restaurant building is located at 8880 Springbrook Drive NW. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, a California-based private investor. The seller was a New York-based real estate private equity firm. Outback has 12 years remaining on its lease with three five-year renewal options as well as 1.8 percent annual rental increases in the primary term. The tenant has operated at the property for 27 years. Outback, a subsidiary of Bloomin’ Brands, operates more than 1,000 restaurants worldwide.
SAN ANTONIO — MLSA Ventures will redevelop the historic La Villita Assembly Hall in San Antonio into a 49,993-square-foot food-and-beverage destination. Renovations to the building, which was originally constructed in 1958, will begin during the second quarter of 2025. In addition to space for food and beverage concepts, the redevelopment will include public patios and a large outdoor bar with a beer garden. Completion is expected for 2027. Ford, Powell & Carson is the project’s architect of record, and Kopplow Construction is the general contractor. JLL is the leasing agent.