Retail

JLL Brokers Sale of 357,115 SF Retail Power Center in Suburban Twin Cities

by Kristin Harlow April 5, 2023

ROSEVILLE, MINN. — JLL Capital Markets has brokered the sale of Crossroads Center of Roseville for an undisclosed price. The 357,115-square-foot retail power center is located in the Twin Cities suburb of Roseville. Built in 1985, Crossroads Center of Roseville is 97 percent leased. Some of the tenants include Best Buy, Dick’s Sporting Goods and Kohl’s. Matt Hazelton, Cory Villaume, Bill Krebsbach, Dave Monahan and Michael Nieder of JLL represented the undisclosed seller. HJ Development was the buyer.

April 5, 2023

Acquisitions Alabama Retail Southeast

SRS Brokers Sale of 57,850 SF Five Points Shopping Center in Tuscaloosa, Alabama

by John Nelson April 4, 2023

TUSCALOOSA, ALA. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Five Points Shopping Center, a 57,850-square-foot retail center located at 4205 University Blvd. E in Tuscaloosa. The Winn-Dixie-anchored center is situated about three miles from the University of Alabama. Other tenants include new junior anchor Dollar Tree, as well as AT&T, State Farm Insurance and H&R Block. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, an entity doing business as H&R Tuscaloosa LLC, in the transaction. The buyer, an entity doing business as Five Points SC LLC, purchased Five Points for an undisclosed price.

April 4, 2023

Florida Leasing Activity Retail Southeast

French Apparel Retailer Etam to Open First US Store at Dadeland Mall in South Florida

by John Nelson April 4, 2023

KENDALL, FLA. — Etam, a French apparel retailer founded in 1916, plans to open its first U.S. store at Dadeland Mall, a shopping mall in the Miami suburb of Kendall. Simon, the mall’s landlord, expects to debut the new Etam store this summer. The store will carry Etam’s line of lingerie, bras, underwear, sleepwear and swimwear. The retailer currently operates more than 850 stores throughout Europe, Middle East, Latin America and Asia. Other international brands that operate stores at Dadeland Mall include Mango, Bimba y Lola, Razer and Tous, among others.

April 4, 2023

Development Retail Texas

NewQuest Properties Underway on 90,000 SF Retail Redevelopment in Houston

by Taylor Williams April 4, 2023

HOUSTON — Locally based developer NewQuest Properties is underway on the redevelopment of Pavilion Square, a 90,000-square-foot retail center in Houston. NewQuest is rebranding Pavilion Center as West on West. Asian grocer 99 Ranch Market will anchor the center. Other tenants will include Gen Korean BBQ House and Teso Life, which will occupy 6,212 square feet and 13,340 square feet, respectively. Exterior renovations are scheduled for completion this month.

April 4, 2023

Acquisitions Retail Texas

Colliers Negotiates Sale of 10-Acre Commercial Development Site in Metro Houston

by Taylor Williams April 4, 2023

TOMBALL, TEXAS — Colliers has negotiated the sale of a 10-acre commercial development site located at 15530 Treichel Road in the northern Houston suburb of Tomball. Tom Condon Jr. and John Grimsley of Colliers represented the seller, an undisclosed private investor, in the transaction. Chris Weisinger and Ryan Knape of One Rock represented the buyers, Max & Beverly Welch, who plan to expand their existing garden center and nursery at the site.

April 4, 2023

Acquisitions California Restaurant Retail Western

CBRE Arranges $25M Sale of Foothill Village Plaza in Rancho Cucamonga, California

by Jeff Shaw April 4, 2023

RANCHO CUCAMONGA, CALIF. — CBRE has arranged the $25 million sale of Foothill Village Plaza, an 88,000-square-foot retail center located roughly 40 miles east of Los Angeles in Rancho Cucamonga. John Read of CBRE represented the seller, Raymond Arjmand of RA Centers, in the transaction. The property was fully leased at the time of sale to tenants including Chuck E. Cheese, NAPA Auto Parts, Brands for Less and Beauty Club. Tenants at the center also include 10 restaurants. A local private investor purchased the property.

April 4, 2023

Arizona Development Retail Western

Harkins Theatres Plans 32,000 SF Entertainment Center in Phoenix

by Jeff Shaw April 4, 2023

PHOENIX — Harkins Theatres has announced plans for Harkins BackLot, a 32,000-square-foot entertainment center at The Shops at Norterra in Phoenix. The new concept is inspired by movie studio backlots and will feature a full-service restaurant and bar; sports viewing arena; arcade; bowling with digitally animated and enhanced lanes; outdoor patio with yard games; and a private event space with party and corporate event rooms. The opening is scheduled for 2024, with more locations to follow. Eric Termansen of Western Retail Advisors represented Harkins in the leasing negotiations.

April 4, 2023

Development Illinois Midwest Restaurant Retail

Urban Innovations Begins Renovation of Historic Karl Vogt Building in Tinley Park, Illinois

by Kristin Harlow April 4, 2023

TINLEY PARK, ILL. — Urban Innovations has begun a renovation of the historic Karl Vogt Building at 6811 Hickory St. in the Chicago suburb of Tinley Park. The property will become the Vogt House by Banging Gavel Brews, a craft brewery. Completion is slated for June. The Vogt Building is the only building in Tinley Park listed on the National Register of Historic Places. While the structure was thought to have been built by Karl Vogt, it was actually constructed around 1865 by John Lewis or his brother Allen Cleveland Lewis, creator of the Lewis Institute, the first junior college in the United States. The project entails an interior and exterior renovation of the four-story, 7,835-square-foot building. The brewery will feature both indoor and outdoor seating, new landscaping, new infrastructure and two kitchens. To comply with the National Park Service’s landmark criteria, new front and rear porches will match historical layout and details. The original interior corridor and stairs, front and back doors, cornices and ornamental brackets will be refurbished. The architects, Katherine Pohl and Joakim Backstrom of Altus Works, have been working closely with the National Park Service and the Illinois State Historic Preservation Office.

April 4, 2023

Acquisitions New York Northeast Retail

Cushman & Wakefield Brokers $22M Sale of Retail Property in East Hampton, New York

by Taylor Williams April 4, 2023

EAST HAMPTON, N.Y. — Cushman & Wakefield has brokered the $22 million sale of a two-story, 5,000-square-foot retail property in the Long Island community of East Hampton. Jordan Sutton, Robert Shapiro, Dan Abbondandolo and Victor Little of Cushman & Wakefield represented the two private investors who sold the asset in the transaction. Luxury retailer Louis Vuitton Moët Hennessy acquired the property, which is currently leased to jewelry and accessories retailer Cartier.

April 4, 2023

Leasing Activity Michigan Midwest Restaurant Retail

Crumbl Cookies to Open New Location in Grandville, Michigan

by Kristin Harlow April 4, 2023

GRANDVILLE, MICH. — Crumbl Cookies has signed a lease to open a 2,721-square-foot location at Century Center in Grandville, a southern suburb of Grand Rapids. Tjader Gerdom and Michael Murphy of Gerdom Realty & Investment represented the tenant in the lease. Dave Denton of DAR Development represented the undisclosed landlord. Crumbl Cookies has more than 700 locations across the country.

April 4, 2023

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