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Alex Tostado

DevelopmentEntertainmentNewsPennsylvaniaRestaurants

City Center Investment Corp. to Open 12,000-Square-Foot Food Hall in Allentown This Fall

by Alex Tostado

Allentown, Pa. — City Center Investment Corp. plans to open Downtown Allentown Market, a $4 million project in Allentown. The 12,000-square-foot retail space will be located within the City Center Allentown mixed-use development. The market will feature nine food and drink merchants, indoor and outdoor seating and flexible space for programming and pop-up shops. Brick-and-mortar tenants include sushi/poke concept Shinsen; Mediterranean restaurant Zahra; ice creamery Batch Microcreamery; Little Miss Korea; Doughnut Love, Licensed to Grill @ The Market; and Tavola pizzeria. The food hall will also house a distillery. City …

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LeasingNewsOhioRetailers

Six New Retailers Confirmed for $500 Million Easton Town Center Expansion in Ohio

by Alex Tostado

Columbus, Ohio — Six new retailers have been confirmed as part of the $500 million expansion of Easton Town Center in Columbus. The retailers include Ivan Kane’s Forty Deuce Café & Speakeasy, Arhaus Furniture, Pins Mechanical Co., The Beeline, Forbidden Root Restaurant and Brewery and Crimson Cup Coffee & Tea. At Forty Deuce, the ground floor will include a café serving burgers and desserts while the upstairs will incorporate a hidden speakeasy. The new Arhaus store will span 17,500 square feet. Ohio-based Pins Mechanical has already opened with 30,000 square …

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FinanceGeorgiaInvestment salesNewsRetailers

Cohen Financial Secures $17.1 Million Acquisition Loan for New Retail Center Near Savannah

by Alex Tostado

Hinesville, Ga. — Cohen Financial, a division of SunTrust Bank, has arranged a $17.1 million acquisition loan for Oglethorpe Square in Hinesville. Goldman Sachs provided the 10-year loan to an undisclosed borrower. Situated about 40 miles southwest of downtown Savannah, the 158,000-square-foot Oglethorpe Square, which Hutton completed in March 2017, is a fully leased retail center with tenants including Dick’s Sporting Goods, Hobby Lobby, T.J. Maxx and Ulta Beauty. The seller was not disclosed.

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Investment salesNevadaNewsRetailers

Newmark Knight Frank Negotiates $6.4 Million Sale of Cornet Plaza Retail Center in Las Vegas

by Alex Tostado

Las Vegas — Newmark Knight Frank has arranged the sale of Cornet Plaza in Las Vegas. Cornet Plaza LLC sold the asset to C&C Elliot Street LP for $6.4 million. Located at 771 E. Horizon Drive, the shopping center features 26,888 square feet of space. Tenants include Capriotti’s, Papa John’s and Hammers Grill & Bar. Michael Zobrist and Nelson Tressler of Newmark Knight Frank represented the seller in the deal.

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Investment salesMississippiMissouriNews

Twin River Worldwide Agrees to Acquire Two Casinos from Eldorado Resorts for $230 Million

by Alex Tostado

Lincoln, R.I. — Twin River Worldwide Holdings Inc. (NYSE: TRWH) has entered into an agreement to acquire Isle of Capri Casino Kansas City in Missouri and Lady Luck Casino Vicksburg in Mississippi for $230 million. Eldorado Resorts Inc. (Nasdaq: ERI) is the seller. Isle of Capri is located near downtown Kansas City, overlooking the Missouri River. The property offers 40,000 square feet of casino space, 939 gaming machines, 13 table games and two dining venues. Lady Luck Casino Vicksburg is situated along the Mississippi River. The property features 25,000 square …

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AlabamaDevelopmentMixed-useNews

Southpace Properties to Develop $11 Million Mixed-Use Building in Birmingham

by Alex Tostado

Birmingham, Ala. — Southpace Properties will develop Macaroni Lofts, a mixed-use building in Birmingham’s Parkside District that will include 35 residential units and 6,000 square feet of retail space. Birmingham Business Journal reports the project will cost $11 million to complete. Situated at the corner of 4th Avenue and 14 Street, Macaroni Lofts is a redevelopment of the former Birmingham Macaroni Co. warehouse, which was built in 1902. The building’s existing structure will remain intact with the addition of rooftop penthouse units with private terraces. The development team includes Fifth Dimension Architecture, …

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IllinoisInvestment salesNewsRetailers

Matanky Negotiates Sale of 102,647-Square-Foot Shopping Center in Federal Opportunity Zone in Park Forest, Illinois

by Alex Tostado

Park Forest, Ill. — Matanky Realty Group has negotiated the sale of a 102,647-square-foot shopping center located at 80-138 S. Orchard Drive in Park Forest, south of Chicago. Freedom Development Group purchased the three-building property for an undisclosed price. The Family Dollar-anchored center includes a grocery store and auto repair center. The buyer was attracted to the site due to its location within a federal Opportunity Zone, according to Matanky. Terri Cox and Don Wagener of Matanky brokered the transaction.

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Investment salesNewsOregonRetailers

Hone Investments Sells Walgreens-Occupied Property in Central Oregon for $5.7 Million

by Alex Tostado

Cottage Grove, Ore. — Hone Investments has completed the disposition of a retail asset located at 1074 E. Main St. in Cottage Grove in Central Oregon. West Plaza LLC bought the property for $5.7 million. Walgreens occupies the 14,820-square-foot retail property with 15 years remaining on its existing long-term lease. Jon Busse and David Kotansky of Colliers International San Diego Region represented the seller, while Jeff Miller of First Commercial Real Estate Services represented the buyer in the deal.

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Investment salesMichiganNewsRetailers

Marcus & Millichap Arranges $5.7 Million Sale of Retail Center in Metro Detroit

by Alex Tostado

Woodhaven, Mich. — Marcus & Millichap has arranged the sale of Woodhaven Village Square for $5.7 million. The 50,414-square-foot retail center is located in Woodhaven, a southern suburb of Detroit. The property is fully leased to Michaels, PetSmart, Cato and Dance Nation. Ashish Vakhariya and Seth Haron of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not disclosed.

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CaliforniaCompany newsNewsRetailers

URW to Launch Three New Solar Projects in the U.S.

by Alex Tostado

Los Angeles — Unibail-Rodamco-Westfield (URW), a premier global developer and operator of flagship shopping destinations, has revealed details of its global Corporate Social Responsibility (CSR) program — the most ambitious of its kind for a listed retail real estate company. Called “Better Places 2030,” the CSR program will now formally extend to the United States and the United Kingdom, which were a part of the acquisition of Westfield by Unibail-Rodamco last year. Broadly, the program commits URW to reduce its total carbon footprint 50 percent by the year 2030 across every …

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