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Abby Cox

Cave Springs Shopping Cente
Investment salesMissouriNews

Marcus & Millichap Brokers Sale of 176,804-Square-Foot Power Center in Suburban St. Louis

by Abby Cox

St. Peters, Mo. — Marcus & Millichap has brokered the $22.1 million sale of Cave Springs Shopping Center, a 176,804-square-foot power center located in the northwest suburb of St. Louis. The property — which is co-anchored by The Edge Fitness Club and Hobby Lobby — was fully leased at the time of sale to tenants including Office Depot, Cycle Gear and LongHorn Steakhouse. The sale included four individual, single-tenant, net-leased outparcel buildings. Craig Fuller, Erin Patton and Scott Wiles of IPA sourced a local buyer in the 1031 exchange. David …

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James Center
FinanceGrocery-anchoredNewsWashington

Gantry Arranges $21.4 Million Loan for Retail Center in Tacoma, Washington

by Abby Cox

Tacoma, Wash. — Gantry has arranged a $21.4 million mortgage for the sale of James Center, a 140,240-square-foot retail center located in Tacoma. The loan, which carries a fixed-rate 10-year term with a 30-year amortization schedule, was funded by a life insurance company. Gantry will service the loan. The property was purchased by a partnership affiliate of Bellevue, Washington-based Rosen Harbottle Commercial Real Estate. Situated on roughly 16 acres, James Center is grocery-anchored by Fred Meyer. Additional tenants at the center include Rite Aid, U.S. Bank, IHOP, Taco Bell, MultiCare …

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Hooters
Company newsFinanceNews

Hooters Files for Chapter 11 Bankruptcy, Plans to Remain Open

by Abby Cox

Atlanta — HOA Restaurant Group, parent company of restaurant chain Hooters, has filed for Chapter 11 bankruptcy protection, entering into a Restructuring Support Agreement (RSA) that will facilitate the continued operation of the company’s restaurants under new ownership. A partnership between two existing Hooters franchises, Hooters Inc. and Hoot Owl Restaurants, reached an agreement with Hooters of America (HOA), to acquire more than 100 HOA-owned Hooters restaurants, which, when added with the franchisees’ existing holdings, will account for approximately 70 percent of Hooters’ domestic locations. Upon completion of the Chapter 11 …

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LBJ East Shopping Center
Investment salesNewsTexas

STRIVE Arranges Sale of 34,074-Square-Foot Shopping Center in Garland, Texas

by Abby Cox

Garland, Texas — STRIVE has arranged the sale of LBJ East Shopping Center, a 34,074-square-foot shopping center located in the Dallas suburb of Garland. The property was fully leased at the time of sale. Jack Hicks and Hudson Lambert of STRIVE represented the seller and sourced the local Texas-based buyer. Additional terms of the sale were not disclosed.

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Dutch Bros Coffee
Architecture and DesignCompany newsDevelopmentNewsOregon

Dutch Bros Coffee Aims to Double Store Count to 2,029 Locations by 2029

by Abby Cox

Grants Pass, Ore. — A little over a month after unveiling its 1,000th retail location, drive-thru coffee chain Dutch Bros Inc. is expanding its operations with goals to reach 2,029 shops by 2029. Originating in 1992 as a pushcart by the railroad tracks in downtown Grants Pass, Dutch Bros opened its first franchise in 2000. Dutch Bros Coffee now has a significant presence in the Pacific Northwest and is expanding with more locations across the United States, moving eastward to Florida, Texas, Oklahoma and Georgia. Looking further out, Dutch Bros …

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Galt Ocean Marketplace
FloridaGrocery-anchoredInvestment salesNews

Gazit Horizons Acquires Retail Center for $35.4 Million in Fort Lauderdale, Florida

by Abby Cox

Fort Lauderdale, Fla. — Miami-based Gazit Horizons Inc. has acquired Galt Ocean Marketplace, a 105,589-square-foot retail center located in the Galt Ocean Mile neighborhood of Fort Lauderdale, for $35.4 million. The property — which was 96 percent leased at the time of sale — is anchored by Winn-Dixie. Additional tenants at the center include CVS Pharmacy, Holy Cross Hospital, McDonald’s, Flagstar Bank and Sherwin-Williams. The acquisition of Galt Ocean Marketplace joins Gazit Horizons’ portfolio of Florida properties, including luxury residential towers AER Tampa and Maizon Brickell in Miami.

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Northshore Mall
DevelopmentEntertainmentMassachusettsNewsRestaurants

Simon Completes Redevelopment of Northshore Mall in Peabody, Massachusetts

by Abby Cox

Peabody, Mass. — Simon Property Group has completed the redevelopment of Northshore Mall located in Peabody, roughly 15 miles northeast of Boston. The shopping center is now home to 140 specialty retailers, dining options and entertainment experiences. New tenants that have either recently been announced or have already opened include a 116,000-square-foot Life Time Fitness, as well as Arhaus and L.L. Bean. Interactive gaming experience Immersive Gamebox, Golf Lounge 18 and Gametime Lanes & Entertainment — which offers bowling and other games in addition to food and drink — are …

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Shoppes at Westgate
Investment salesNew YorkNews

Time Equities Acquires 62,049-Square-Foot Shopping Center in Rochester, New York

by Abby Cox

Rochester, N.Y. — New York City-based Time Equities Inc. (TEI) has acquired The Shoppes at Westgate, a 62,049-square-foot shopping center located in Rochester, for $6.2 million. Originally built in 1958 and renovated in 1986, the property is shadow-anchored by a Walmart Supercenter. Tenants at the center, which was 91 percent leased at the time of sale, include Ross Dress For Less, Bath & Body Works, Citi Trends and Citizens Bank. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith of TEI represented the firm in the transaction. Ben Snyder and …

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1129-1141 East 11th Street
Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 10,578-Square-Foot Retail Property in Houston

by Abby Cox

Houston — Marcus & Millichap has brokered the sale of a 10,578-square-foot retail property located in Houston. Situated at 1129-1141 East 11th Street, the property was fully leased at the time of sale to tenants including Three Dog Bakery and Republic Boot Co. Justin Miller represented the seller, a Houston-based developer, in the transaction.

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Greenville Promenade
Investment salesNewsTexas

STRIVE Arranges Sale of 220,482-Square-Foot Power Center in Metro Dallas-Fort Worth

by Abby Cox

Greenville, Texas — STRIVE has arranged the sale of Greenville Promenade, a 220,482-square-foot power center located in Greenville, approximately 35 miles northeast of Dallas. Originally built in 1972, the center was fully leased at the time of sale to tenants including Spec’s Wines, Spirits & Foods, Ashley’s Furniture, Petco, Marshall’s, Ross Dress For Less, Belk and Staples. Hudson Lambert and Jennifer Pierson of STRIVE represented the California-based seller, while Harrison Beethe of STRIVE represented the local Dallas-Fort Worth-based buyer in the transaction. Additional terms of the sale were not disclosed. …

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