San Antonio — Phenix Salon Suites has acquired six existing salon facilities in San Antonio, which will now be owned and operated as Phenix Salon Suite company locations. The facilities previously operated under the Vista Salon Suites brand and will soon be converted to the Phenix format. Las Vegas-based Phenix Salon Suites began franchising in 2012 and has 400 locations open across 33 states with plans to expand internationally.
Brick, New Jersey — East Windsor, New Jersey-based TFE Properties has acquired The Shops at Brick, a 103,832-square-foot shopping center located in Brick. Bonefish Grill and McDonald’s are tenants at the property. Tenant spaces ranging from 1,700 square feet to 35,000 square feet are vacant and available for lease. Additionally, the property’s former ALDI and Big Lots stores comprise more than 50,000 square feet of vacant space for use. TFE Properties plans to upgrade the building façade. This sale marks the fifth property TFE Properties has acquired in Brick. Kevin …
Blue Springs, Mo. — Hanley Investment Group Real Estate Advisors has brokered the sale of two newly constructed, single-tenant retail properties located in Blue Springs, roughly 19 miles southeast of downtown Kansas City. The adjacent properties — which are occupied by Dental Care on 7 and Starbucks Coffee — were sold for more than $5 million to two separate buyers. The transactions had a blended cap rate in the low 6 percent range. Situated on a 0.96-acre parcel, Dental Care on 7 totals 4,200 square feet. Jeff Lefko and Bill …
Berkeley, Calif. — The Levin Johnston Group of Marcus & Millichap has brokered the sale of a 12,419-square-foot retail property located at 2310 Telegraph Ave. in Berkeley. Restaurant chain Raising Cane’s purchased the property for $12.7 million. The property is currently tenanted by Walgreens, but Raising Cane’s plans a future location for the property.
Queens, New York — Marcus & Millichap has arranged the $5.2 million sale of a 9,640-square-foot retail property located along Queens Boulevard in Rego Park. The property is anchored by CTown Supermarket and features three additional service-oriented tenants and 100 feet of retail frontage. Joseph French Jr. and Kodi Traver of Marcus & Millichap’s Westchester office marketed the property on behalf of the seller and procured the buyer, both private investors, in the transaction.
Reno, Texas — STRIVE has arranged the sale of a 9,026-square-foot Dollar General in Reno. Adam Gottschalk and Jason Vitorino of STRIVE represented the seller, a wealth management trust, and sourced a local buyer. Additional terms of the sale were not disclosed.
Gerald Divaris, chairman and CEO of Divaris Group of Companies and a panelist at last week’s Entertainment Experience Evolution (EEE) conference, produced by France Media’s Shopping Center Business and InterFace Conference Group, has a Shakespearean take on today’s retail environment. It’s that all the (retail) world’s a stage. “Retail is essentially entertainment,” he told a crowd of 500 attendees during the Leading Retail Landlords Panel at EEE, which was held Feb. 25-26 at the J.W. Marriott LA Live. “Otherwise, you’d be buying on Amazon.” Divaris expanded upon this notion, citing …
Chicago — JLL Capital Markets has arranged the sale-leaseback of 165 SouthState retail bank branches for $467 million. The portfolio spans roughly 1.2 million square feet across six states — Alabama, Georgia, Florida, North Carolina, South Carolina and Virginia — and will operate on a 15-year, triple-net lease basis with annual rent increases of two percent. SouthState will continue to operate branches at each of the locations with no changes to its products or service offerings. Alex Sharrin, Coler Yoakam, Brian Shanfeld, Jeffrey Cicurel, Josh Katlin, Michael Roberts, Josh Hirsch and Andrew …
North Charleston, S.C. — Mt. Pleasant, South Carolina-based Ziff Real Estate Partners (ZRP) has acquired Promenade at Northwoods, a 253,308-square-foot retail center in North Charleston, for $30.8 million. While the sales price was not disclosed, The Post and Courier reports the seller was an affiliate of Charlotte, North Carolina-based Big V Property Group. Situated across from Northwoods Mall, the property is anchored by Hobby Lobby and Ollie’s Bargain Outlet. Christian Chamblee, Brooke Frey and Paige Tompkins led the ZRP deal team in the transaction. This acquisition brings ZRP’s metro Charleston portfolio …
North Canton, Ohio — Axiom Realty has acquired The Venue at Belden, a 157,632-square-foot regional shopping center in North Canton, Ohio. Originally built in 1974, the center was renovated and re-tenanted in 2016 and 2017. Burlington, T.J. Maxx, HomeGoods and Earth Fare comprise more than 60 percent of the center’s gross leasable area. Erin Patton of IPA represented the undisclosed seller in the transaction.
