Sunday, November 17, 2024
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Alex Tostado

CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Arranges $17 Million Sale of Shopping Center in Southern California

by Alex Tostado

Huntington Beach, Calif. — Hanley Investment Group has arranged the sale of Village Plaza at Huntington Harbor, a 20,328-square-foot shopping center. The sales price was not disclosed, but according to industry sources, the sales price was $17 million. The property was 91 percent leased at the time of sale to tenants including Harbor Barber, Secret Spot Restaurant, La Bodega Bottle Shop, Super Mex, Stoney’s Pizza, Sunset Vapor, Riip Beer Co. and Tsunami Sushi. The center is situated at 17196-17236 Pacific Coast Highway, two blocks from the beach and 31 miles …

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FeaturesFrom The MagazineRetailers

Atlanta’s Retail Sector has Positive Momentum on Investment, Development Fronts

by Alex Tostado

Shopping and dining in Atlanta looks vastly different than this time last year due to the COVID-19 outbreak, but owners, developers, investors and retailers alike remain optimistic about the metro area’s prospects. Many local retail professionals say barring another outbreak or a second black swan event, the worst of the recession is in the rearview mirror and the Atlanta market is currently on a positive trajectory, though the market is experiencing negative absorption from over-leveraged national retailers shuttering stores, as well as local and regional operators that are struggling to …

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DevelopmentGrocery-anchoredMassachusettsNewsRetailers

Market Basket Opens New 69,374-Square-Foot Location in Maynard, Massachusetts

by Alex Tostado

Maynard, Mass. — Market Basket has opened a 69,374-square-foot grocery store within Maynard Crossing in Maynard. The 730,000-square-foot mixed-use development is home to other retail tenants such as Eco Nails & Spa, Planet Fitness and Maynard Wine & Spirits. Capital Group Properties broke ground on Maynard Crossing in 2019. Other uses include The Vue at Maynard Crossing, a 180-unit multifamily community; Camellia Gardens, a 143-unit seniors housing community; Emerson Hospital Urgent Care; and outdoor spaces such as water features, a dog park, walking paths and green space.

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Company newsFloridaNews

Sonny’s Enterprises Agrees to Buy Lone Star Car Wash Systems

by Alex Tostado

Tamarac, Fla. — Sonny’s Enterprises has entered into an agreement to buy Lone Star Car Wash Systems for an undisclosed price. Sonny’s will use the acquisition of the Texas-based car wash company to expand and create Sonny’s CarWash Services of Texas. The Tamarac, Florida-based buyer says current car wash owners and potential investors will have a local team to rely on for help with everything from equipment and chemistry, to site and management consulting, maintenance and repair. “Our proposal to acquire Lone Star was an easy decision because it allows …

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CaliforniaDevelopmentInvestment salesNewsRetailers

Beacon Realty, Carolina Capital Acquire Open-Air Retail Center in Southern California

by Alex Tostado

La Quinta, Calif. — A joint venture between Beacon Realty Advisors and Carolina Capital Real Estate Partners has acquired Jefferson Square, a partially built, open-air shopping center in La Quinta. The property’s infrastructure has been completed but only half of the land has been fully developed, according to Beacon Realty. A CVS/pharmacy anchors the center. The buyers plan to lease the vacant 14,000 square feet to a grocer, medical tenant or home improvement retailer. Regency Centers sold the property, which spans 10 acres, for an undisclosed price. A timeline for …

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Investment salesMarylandNewsRetailers

JCR Acquires Two Shopping Centers in Maryland for $23.8 Million

by Alex Tostado

Rockville and Bel Air, Md. — The JCR Cos. has acquired two shopping centers in Maryland totaling $23.8 million. The first property is Woodley Gardens Shopping Center in Rockville. The asset is situated at 1101-1125 Nelson St., 17 miles north of downtown Washington, D.C. Washington, D.C.-based JCR acquired the 22,797-square-foot property for $4.5 million. It was fully leased at the time of the sale to tenants including Hard Times Café, Essex Bank, Slice of Rockville, Carmen’s Ice Cream and Shanghai Taste. The second property is Bel Air Town Center, which …

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Company newsNewsRestaurantsTennessee

Burger Republic Launches Gift Card Program to Feed Frontline Workers, First Responders

by Alex Tostado

Nashville, Tenn. — Burger Republic has launched its “Defend Heroes” gift card promotion. For every $50 spent on a gift card, the Nashville-based burger chain will donate one meal to a frontline worker or first responder in the Music City. The promotion will run through Dec. 31. The gift cards can be purchased online or in-person at any of the four locations in metro Nashville. Drew Jackman, who partnered with Jeff Warne to create Burger Republic in 2012, says the “Defend Heroes” promotion was shaped in May during a buy …

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LeasingNew YorkNewsRetailers

The Home Depot Signs 120,000-Square-Foot Lease to Remain in Manhattan

by Alex Tostado

New York City — The Home Depot has signed a long-term, 120,000-square-foot lease to remain at Williams Equities’ 28 & 40 W. 23rd St. location in Manhattan’s Flatiron District. The new lease expires in the mid-2030s. The Atlanta-based home improvement retailer has occupied the ground floor, lower level and mezzanine since 2003. Other tenants at the location include AT&T subsidiary Xandr and Estee Lauder brand Aramis. Michael Cohen, Andrew Roos and Mac Roos of Colliers International Tri-State represented the landlord in the transaction. Peter Ripka of Ripco Real Estate represented …

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Company newsNewsPennsylvaniaRetailers

Ollie’s Bargain Outlet Posts 15.8 Percent Growth in Comparable Store Sales

by Alex Tostado

Harrisburg, Pa. — Ollie’s Bargain Outlet has reported its comparable store sales for third-quarter 2020 rose 15.3 percent over third-quarter 2019. As of the end of the third quarter, which ended Oct. 31, the Harrisburg-based retailer operated 385 stores in 25 states. Net income increased 67.7 percent to $45.2 million for the quarter. “I am extremely proud of our entire team for working tirelessly during these unprecedented times and delivering another exceptional quarter,” says John Swygert, president and CEO of Ollie’s Bargain Outlet. “We once again demonstrated our ability to …

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Company newsIllinoisNewsRetailers

Comparable Sales for Ulta Beauty Drop 8.9 Percent in Third Quarter

by Alex Tostado

Bolingbrook, Ill. — Ulta Beauty Inc. has reported that its comparable sales decreased 8.9 percent compared with an increase of 3.2 percent in the third quarter of fiscal 2019. Net sales decreased 7.8 percent to $1.6 billion, compared with $1.7 billion in third-quarter 2019. The Bolingbrook-based beauty retailer says the drop is due to the impact of COVID-19. This quarter, Ulta opened 17 new stores, compared with 31 new stores in third-quarter 2019. Net income was $74.8 million compared with $129.7 million for the same period last year. “We know …

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