DE PERE, VERONA AND BROOKFIELD, WIS. — Starbucks has signed three new retail leases in Wisconsin. The retailer leased 2,200 square feet at 1347 S. Broadway in De Pere, just south of Green Bay. In the second deal, Starbucks inked a lease for 2,200 square feet at 233 Wild Cat Way in Verona, a southwest suburb of Madison. Additionally, the retailer leased 2,200 square feet at 21755 E. Moreland Blvd. in the Milwaukee suburb of Brookfield. Tony Colvin of Mid-America Real Estate represented Starbucks in each of the leases. The landlords in the respective deals were Heritage Holdings 1373 LLC, West Verona Capital LLC and Garni LLC.
SPRINGFIELD, N.J. — Crunch Fitness will open a 32,000-square-foot gym at General Green Shopping Center in the Northern New Jersey community of Springfield. Crunch Fitness will backfill a space previously occupied by NY Sports Club. Marc Palestina and Chuck Lanyard of The Goldstein Group represented the undisclosed landlord in the lease negotiations. Stephen Picurro of Pierson Commercial Real Estate represented the tenant. Other users at the center include Gold Valley Supermarket, GNC and Springfield Bagels.
KNOXVILLE, TENN. — Atlanta-based brewery Monday Night Brewing will open a taproom within Kern’s Bakery Food Hall at Kern’s Bakery, a 16-acre mixed-use development currently underway in Knoxville. The taproom, which will mark Monday Night’s sixth location and second in Tennessee, will comprise 3,000 square feet with access to a patio and the 7,000-square-foot event lawn. Monday Night will also manage the primary bar for the food hall, two separate rooftop patio bars and a smaller bar near the interior performance stage. The food hall comprises the second phase of Four Stones Real Estate’s project, the first phase of which consists of a 310-unit apartment community called Flagship Kerns that opened last year.
RIALTO, CALIF. — CBRE and NewMark Merrill Cos. have completed the preleasing of Rialto Village, a 96,000-square-foot shopping center currently under construction in the Inland Empire city of Rialto. Everytable will occupy the final, 1,400-square-foot space at the development, which the companies broke ground on in August of last year. Other tenants include Mattress Firm, Arrowhead Credit Union, Quick Quack Car Wash, In-N-Out Burger, Cold Stone Creamery, The Joint, Nekter Juice Bar, Coffee Bean & Tea Leaf and West Coast Dental. Brian McDonald, Walter Pagel and Hannah Curran of CBRE and Greg Giacopuzzi of NewMark Merrill led leasing efforts for the property.
IOWA, MONTANA, NORTH DAKOTA, NEBRASKA AND WISCONSIN — Marcus & Millichap has brokered the sale of a 22-property portfolio occupied by Arby’s in the Midwest for $35.1 million. The net-leased assets are located in Iowa, Montana, North Dakota, Nebraska and Wisconsin. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller, an Arby’s franchisee. As part of the sale, new leases were executed for the properties. The buyer was undisclosed.
EDEN PRAIRIE, MINN. — Riddle’s Jewelry has signed a 1,732-square-foot lease to open a new store at Eden Prairie Center in the Twin Cities suburb of Eden Prairie. Opened in 1976, Eden Prairie Center totals 1.4 million square feet and features more than 100 shops and restaurants. Slated to open in May, Riddle’s Jewelry will occupy space on the upper level near the center court. In addition to the company’s U.S.-made jewelry, the Eden Prairie Center location will also feature a Pandora counter that will open at a later date. Riddle’s Jewelry is a family-owned and operated company with locations across nine states.
UNION, N.J. — Bed Bath & Beyond Inc. (NASDAQ: BBBY) has filed for Chapter 11 protection in the U.S Bankruptcy Court for the District of New Jersey and will close all remaining stores nationwide. At the time of the filing, the company operated 360 stores across the country under its Bed Bath & Beyond brand and 120 stores under its children-centric buybuy Baby brand. All of those locations, as well as their accompanying e-commerce platforms, will remain open temporarily as the company gradually winds down operations and conducts limited marketing campaigns for some of its assets. To facilitate this process, Bed Bath & Beyond has secured $240 million in debtor-in-possession financing from Dallas-based global investment firm Sixth Street Specialty Lending. The financing will provide liquidity for operational obligations, such as paying employee wages and benefits, maintaining customer programs and honoring commitments to critical vendors. The Union-based home goods retailer announced plans in August 2022 to shutter 150 of its “lower-producing” stores, laying off about 20 percent of its corporate staff in the process. At that time, Bed Bath & Beyond was focused on restructuring its existing debt and had received more than $500 million in new financing to bring that …
HOUSTON —Locally based developer LEVCOR has signed four new tenants to leases at Post Oak Plaza, a shopping center in Houston. Restaurants Rakkan Ramen and Tacodeli will occupy 1,856 and 2,833 square feet, respectively. Additionally, Kohler will open a 4,038-square-foot kitchen and bath showroom, and Bassett Furniture has committed to 9,597 square feet. Previously announced tenants that are also scheduled to open this year include Nando’s Peri Peri, Balboa Surf Club and Bosch/Thermador/Gaggenau.
MENTOR, OHIO — Eastern Union has arranged $10.9 million in acquisition financing for two neighborhood shopping centers in the Cleveland suburb of Mentor. The properties include the 232,386-square-foot Erie Commons and the 80,480-square-foot Great Lakes Plaza. Marc Tropp of Eastern Union arranged the loan on behalf of the borrower, Baltimore-based America’s Realty LLC. First Bank provided the loan, which features a loan-to-value ratio of 75 percent. The overall purchase price was $14.6 million. With this acquisition, the holdings of America’s Realty in the state of Ohio amount to 18 retail centers totaling 3.4 million square feet.
NEW YORK CITY — Northmarq has arranged a $22 million loan for the refinancing of Village Greens Shopping Center, a 75,697-square-foot retail property in Staten Island’s Arden Heights neighborhood. Grocer Key Food anchors the center, which was originally built in 1989, and other tenants include CVS Pharmacy and JP Morgan Chase Bank. Robert Delitsky and Dylan Hamer of Northmarq arranged the fixed-rate loan through insurance giant Nationwide on behalf of the undisclosed borrower.