Retail

Towne Place at Greenbrier Hampton Roads Chesapeake

Lingerfelt CommonWealth Buys Retail Center in Hampton Roads for $15.5M

by John Nelson May 19, 2016

CHESAPEAKE, VA. — Lingerfelt CommonWealth Realty Partners LLC has purchased Towne Place at Greenbrier, a 76,827-square-foot lifestyle retail center located in Chesapeake, a city within the Hampton Roads region. Built in 2007, the property was 94.7 percent leased at the time of sale to tenants such as Taste Unlimited, Jason’s Deli, Chico’s, Sola Salon, Jos. A. Bank, Moe’s Southwest Grill and Surf Rider Restaurant. Commonwealth Commercial Partners, Lingerfelt’s property management affiliate, will handle property management of the retail center, and S.L. Nusbaum will handle leasing and marketing.

May 19, 2016

California Retail Western

Smart & Final Opens 33 Stores in California

by Nellie Day May 18, 2016

COMMERCE, CALIF. — As part of its growth plan, Smart & Final has opened 33 Smart & Final Extra! warehouse-style grocery stores in California. The locations, which were acquired in December 2015, were previously operated under the Haggen banner. Between January 20, 2016 and May 11, 2016, Smart & Final opened 11 Smart & Final Extra! stores in the San Diego area, seven in Los Angeles County, four in Orange County, three in Ventura County, four in the Central Coast, and two in the Inland Empire — all of which were formerly operated under the Haggen banner — and one additional non-Haggen location in Sacramento County. Currently, Smart & Final operates 306 stores in California, Oregon, Washington, Arizona, Nevada and Idaho, including 251 Smart & Final banner stores, 160 of which are Smart & Final Extra! format stores.

May 18, 2016

Hospitality Mixed-Use Multifamily Office Restaurant Retail Texas

Southside Bank to Finance Infrastructure at Frisco Station

by Haisten Willis May 18, 2016

FRISCO, TEXAS — Southside Bank will finance new development at Frisco Station, a 242-acre mixed-use development located along the Dallas North Tollway in Frisco. The bank will provide the Frisco Station Partnership, an investment entity composed of Hillwood, Rudman Partnership and Van Trust Real Estate, with a three-year revolving line of credit for constructing road, water, sewer and other utilities. Initial construction will begin in June and will include infrastructure to support office development along Warren Parkway. Frisco Station includes more than 5 million square feet of office space, 2,400 apartment units, food and beverage concepts, hotel and conference facilities and more than 250,000 square feet of retail space. Headquartered in Tyler, Texas, Southside Bank has $5.2 billion in assets and operates more than 60 banking facilities in Texas.

May 18, 2016

Retail Texas

Scooter’s Coffee to Open Two New Locations in Texas

by Haisten Willis May 18, 2016

BOERNE and THE COLONY, TEXAS — Scooter’s Coffee will open two new locations in Texas. The coffee franchise has begun construction of an end-cap at 1 FM 3351, Suite 155 in the San Antonio suburb of Boerne. The 1,560-square-foot location will include a drive-thru and is projected to open in mid-August. The chain has also signed a lease for a drive-thru kiosk located on the southeast corner of South Colony Boulevard and Main Street in the Dallas suburb of The Colony. The 480-square-foot location is also projected to open in mid-August. The new locations will be Scooter’s sixth and seventh in Texas. Based in Omaha, Neb, Scooter’s Coffee operates more than 130 stores, with expansion plans for 40 more locations by the end of 2016. The company hopes to operate more than 500 stores by 2021.

May 18, 2016

Retail Texas

M&M Arranges Sale of 12,652 SF Retail Property in Metro Dallas

by Haisten Willis May 18, 2016

EULESS, TEXAS — Marcus & Millichap has arranged the sale of Arbor Creek, a 12,652-square-foot retail property located in Euless. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Levy and Gainey also secured the buyer, a developer. Built in 2005 on 1 acre, Arbor Creek is 88 percent leased to tenants including T-Mobile, Little Caesars, Check ‘n Go and Euless Swiftcare. Albertson’s, which anchors the property, was remodeled in 2014.

May 18, 2016

New York Northeast Office Retail

Related, LargaVista Break Ground for 80,000 SF Office/Retail Building in SoHo

by Amy Works May 18, 2016

NEW YORK CITY — Related Cos. and LargaVista Cos. have broken ground for 300 Lafayette Street, an 80,000-square-foot office and retail building located in SoHo. The seven-story building will feature 50,000 square feet office space on floors three through seven and 30,000 square feet of retail space on the first two floors. The office portion of the building will include a separate lobby from the flagship retail space. Designed by COOKFOX Architects for LEED Silver certification, the property is slated for completion in early 2018. JLL has been retained to market for lease both portions of the property.

May 18, 2016

Florida Retail Southeast

Office Depot Terminates Merger Agreement with Staples

by John Nelson May 18, 2016

BOCA RATON, FLA. — The merger agreement between Staples Inc. (NASDAQ: SPLS) and Office Depot Inc. (NASDAQ: ODP) has been terminated. As a result, Office Depot will receive a cash payment from Staples of $250 million on May 19, 2016. The news comes after Office Depot and Staples had recently agreed to extend their merger agreement termination date from February 4, 2016 to May 16, 2016. Staples had begun discussions to acquire Office Depot in September 2014. Simultaneously, Office Depot has successfully extended its asset-based credit facility for an additional 5 years. The new $1.2 billion facility will mature on May 13, 2021. The amended credit agreement reduces the overall fees and applicable spread on borrowing and modifies certain covenants to provide additional flexibility for incremental indebtedness, acquisitions, asset sales and restricted payments. Boca Raton-based Office Depot has annual sales of approximately $14 billion and has approximately 1,800 retail stores. The company operates under several banner brands including Office Depot, OfficeMax, Grand & Toy and Viking.

May 18, 2016

Anthropologie Grand Boulevard at Sandestin

Florida Retail Southeast

Anthropologie Opens New Store in Grand Boulevard at Sandestin in Northwest Florida

by John Nelson May 18, 2016

MIRAMAR BEACH, FLA. — National women’s retailer Anthropologie has opened a new 9,000-square-foot store in Grand Boulevard at Sandestin, a mixed-use development near northwest Florida’s beaches in Miramar Beach. The store features clothing, accessories and homewares. Grand Boulevard at Sandestin’s owners, Howard Group and Merchants Retail Partners, have recently signed leases with other retailers including Lilly Pulitzer, Vineyard Vines, J. McLaughlin, Starbucks Coffee, Jimmy John’s, The Craft Bar, Menchie’s Frozen Yogurt and Grand Fitness. Anthropologie’s new store is located in the new Center building, located on the west side of the development across from the Boulevard 10 Cinema.

May 18, 2016

Illinois Midwest Retail

Quantum Brokers $4.1M Sale of 17,562 SF Retail Property in Metro Chicago

by Christina Cannon May 18, 2016

STREAMWOOD, ILL. — Quantum Real Estate Advisors Inc. has arranged the $4.1 million sale of a 17,562-square-foot, multi-tenant retail center in Streamwood, approximately 35 miles northwest of Chicago. Willow Pond Marketplace, located at 1040-1060 S. Sutton Road, features tenants such as GameStop, Jimmy John’s, Sport Clips and Kiddie Academy. A local private investor purchased the property from a California-based investor. Chad Firsel and Daniel Waszak of Quantum Real Estate Advisors were the sole brokers in the transaction.

May 18, 2016

Illinois Midwest Retail

Mid-America Arranges Sale of 18,700 SF Retail Property in Metro Chicago

by Christina Cannon May 18, 2016

SKOKIE, ILL. — Mid-America Real Estate Corp. has arranged the sale of the multi-tenant portion of Touhy Marketplace, an 18,700-square-foot retail property located in the Chicago suburb of Skokie. Ben Wineman of Mid-America arranged the sale on behalf of the seller, a private developer. An undisclosed private investment group acquired the property. Tenants at Touhy Marketplace, which is shadow-anchored by a Walmart Supercenter, include Sleepy’s, Supercuts, T-Mobile, Jimmy John’s, Moe’s Southwest Grill and M Burger. The PNC Bank, Just Tires and Jollibee locations at the center are separately owned and were not included in the sale.

May 18, 2016

Newer Posts

Older Posts