Retail

Southwest Value Partners, AEG to Open EVO Entertainment Venue at Nashville Yards

by John Nelson September 21, 2022

NASHVILLE, TENN. — Southwest Value Partners and AEG have executed an agreement with EVO Entertainment Group to open a new entertainment venue within Nashville Yards, an 18-acre mixed-use development in downtown Nashville. The destination, which represents the first Tennessee EVO location, will span 48,000 square feet within a 420,000-square-foot office building at Nashville Yards. Gary Shanks and Miller Fitts of JLL represented Austin-based EVO in the lease transaction. Slated to open in 2024, plans for EVO Entertainment Nashville Yards include a 12-screen dine-in cinema, eight lanes of bowling, kitchen and bar and private event spaces, as well as gaming and attractions, gravity ropes and virtual reality experiences. Other uses at Nashville Yards include an upcoming live music venue operated by AEG with a capacity for 4,500 guests; Amazon’s regional office towers; a multi-tenant office tower that will house headquarters for Pinnacle Financial Partners and Bass, Berry & Sims; shops and restaurants; seven acres of open plazas, courtyards and green space; and two hotels: the 591-room Grand Hyatt Nashville and the newly renovated Union Station Nashville Yards hotel.

September 21, 2022

Acquisitions Louisiana Retail Southeast

Faris Lee, SRSA Broker $31.4M Sale of Single-Tenant New Orleans Store Net Leased to Whole Foods

by John Nelson September 21, 2022

NEW ORLEANS — Faris Lee Investments and SRSA Commercial Real Estate have brokered the $31.4 million sale of a single-tenant net-lease Whole Foods Market located at 5600 Magazine St. in New Orleans. The store, which is one of two Whole Foods in the city, is situated near Tulane University and was originally a street car barn constructed in 1893. Faris Lee’s Scott DeYoung and Jeff Conover, along with SRSA’s Steve Reisig, Chris Robertson and Kirsten Early, represented the undisclosed seller in the transaction. Jason Maier with Stan Johnson Co. represented the buyer, an unnamed East Coast investor that purchased the store in a 1031 exchange. Whole Foods recently executed a 15-year lease extension at the property, according to Faris Lee.

September 21, 2022

Acquisitions Midwest Nebraska Retail

Marcus & Millichap Arranges $4.4M Sale of Retail Property in Omaha

by Kristin Harlow September 21, 2022

OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 66,474-square-foot retail property occupied by Family Fare Supermarket in Omaha for $4.4 million. The building is located at 5110 S. 108th St. Brennan Clegg, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided. Family Fare operates more than 80 locations in seven states.

September 21, 2022

Acquisitions Loans Nevada Restaurant Retail Western

JLL Capital Markets Arranges $41.2M Sale of Craig Marketplace in Las Vegas

by Amy Works September 21, 2022

LAS VEGAS — Gerrity Group has sold Craig Marketplace, a 119,280-square-foot retail center in Las Vegas, for $41.2 million. Gleb Lvovich and Daniel Tyner of JLL Capital Markets represented both Gerrity and the California-based buyer in the 1031-exchange transaction. John Marshall, Jordan Leake and Carl Beardsley, also of JLL, secured acquisition financing on behalf of the buyer. Anchored by Albertsons, the center was 94.5 percent leased at the time of sale to tenants including Jack in the Box, Popeyes Louisiana Kitchen, Starbucks Coffee and Subway. Situated at 7101-7181 W. Craig Road, the property was built in 2002.

September 21, 2022

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Partners Arranges Sale of 186,809 SF Retail Center in Fitchburg, Massachusetts

by Taylor Williams September 20, 2022

FITCHBURG, MASS. — Atlantic Capital Partners, a division of Boston-based Atlantic Retail, has arranged the sale of John Fitch Plaza, a 186,809-square-foot retail center in Fitchburg, located in the northern-central part of the state. Anchored by Cinema World and The Paper Store, the property was 79 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder represented the buyer and seller, both of which requested anonymity, in the transaction.

September 20, 2022

Acquisitions Indiana Midwest Retail

Hanley Investment Group Arranges Sales of Three Restaurant Properties in Indiana Totaling $9M

by Kristin Harlow September 20, 2022

GREENFIELD, IND. — Hanley Investment Group Real Estate Advisors has arranged the sales of three restaurant properties in Greenfield, an eastern suburb of Indianapolis. Dylan Mallory of Hanley and Jacque Haynes of Midland Atlantic Properties represented the seller and developer, Indianapolis-based Midland Atlantic Properties, in all three transactions. All three properties are part of a new development named Greenfield Market. In the first sale, a 2,616-square-foot building occupied by Chipotle Mexican Grill sold to a Simi Valley, Calif.-based private investor for $2.9 million. The property features a mobile order drive-thru lane. David Leibowitz of IREA Inc. represented the buyer. In the second transaction, a 3,500-square-foot property occupied by Panera Bread sold to a Hillsborough, Calif.-based private investor for $2.9 million. The building features two drive-thru lanes. Jeff Ida and Doug Ogard of Marcus & Millichap represented the buyer. In the third sale, a 4,500-square-foot Chick-fil-A ground lease sold for $3.1 million to a Dallas-based private investor, who was self-represented.

September 20, 2022

Leasing Activity Northeast Pennsylvania Retail

Without A Cue to Open 3,346 SF Dinner Theater in Philadelphia

by Taylor Williams September 20, 2022

PHILADELPHIA — Without A Cue, an entertainment concept that centers on dinner theaters and murder mysteries, will open a 3,346-square-foot venue in Philadelphia. The space will be located within The Curtis, a 912,245-square-foot adaptive reuse building in Washington Square West that is owned by Keystone Development + Investment. Veronica Blum and Alex Snyder of MPN Realty represented Keystone in the lease negotiations. Joe Scarpone, also with MPN Realty, represented Without A Cue, which will open in late fall.

September 20, 2022

Leasing Activity Retail Texas

Northern Tool, AutoZone Sign Retail Leases Totaling 39,357 SF in McKinney, Texas

by Taylor Williams September 19, 2022

MCKINNEY, TEXAS — Northern Tool + Equipment and AutoZone have signed retail leases totaling 39,357 square feet in McKinney, about 35 miles northeast of Dallas. The tenants will backfill a space previously occupied by Super 1 Foods with footprints of 22,500 and 16,857 square feet, respectively. William Rosatti represented the landlord, JAH Realty, in the lease negotiations on an internal basis. Clay Mote of Retail Union and Mack House of Westover Group represented Northern Tool and AutoZone, respectively.

September 19, 2022

Loans New York Northeast Retail

Axiom Capital Arranges $13.2M Refinancing of Upstate New York Retail Center

by Taylor Williams September 19, 2022

EAST GREENBUSH, N.Y. — Commercial finance and advisory firm Axiom Capital Corp. has arranged a $13.3 million permanent loan for the refinancing of a retail center in East Greenbush, roughly six miles southeast of Albany. The 301,894-square-foot property comprises six separate buildings and was leased to 16 tenants at the time of the loan closing. The names of the borrower, a development and management firm, and direct lender, a local bank, were not disclosed.

September 19, 2022

Acquisitions North Carolina Retail Southeast

ShopOne Centers REIT Purchases Grocery-Anchored Shopping Center in Cary, North Carolina

by John Nelson September 19, 2022

CARY, N.C. — ShopOne Centers REIT Inc., a privately held retail real estate investor and owner based in New York City, has purchased Shoppes on the Parkway in Cary. Located 10 miles west of downtown Raleigh, the 40,000-square-foot property was 96 percent leased at the time of sale to tenants including The Fresh Market. ShopOne acquired the grocery-anchored center in a joint venture with Pantheon and an unnamed global institutional investor. The seller and sales price were not disclosed.

September 19, 2022

Newer Posts

Older Posts