Author

Alex Tostado

InvenTrust Properties Begins Renovation of 105,000-Square-Foot Shopping Center in Metro Atlanta

by Alex Tostado October 16, 2020

Newnan, Ga. — InvenTrust Properties Corp. has broken ground on the renovation of Thomas Crossroads, a 105,000-square-foot shopping center in Newnan. Kroger anchors the property, which will get a new façade, paint scheme, LED lighting under canopies, landscaping enhancements and sidewalk improvements. The Downers Grove, Ill.-based owner expects renovations to be completed by the end of November. Other tenants at the center include Great Clips, Subway, McDonald’s and multiple locally owned service and dining options. The asset was last renovated in 2008, shortly before InvenTrust acquired it in 2009. Thomas …

October 16, 2020

California Investment sales News Retailers

Marcus & Millichap Arranges $6.2 Million Sale of Multi-Tenant Retail Center in Simi Valley

by Alex Tostado October 16, 2020

Simi Valley, Calif. — Marcus & Millichap has brokered the sale of a multi-tenant retail center located at 1030 E. Los Angeles Ave. in Simi Valley. A local private investor sold the asset to an undisclosed buyer for $6.2 million at a 5.6 percent capitalization rate. James DeBuiser and Gary Cohen Marcus & Millichap’s Cohen | DeBuiser Team represented the seller in the deal. At the time of sale, the property was fully leased.

October 16, 2020

Illinois Leasing News Restaurants

Marijuana-Themed Sandwich Shop Cheba Hut to Open First Location in Illinois on Oct. 19

by Alex Tostado October 16, 2020

Chicago — Cheba Hut will open its first Illinois location in Chicago’s Wicker Park on Monday, Oct. 19. The marijuana-themed sandwich shop is located at 1948 W. Division St. The “toasted” sub shop offers over 30 signature sub sandwiches, as well as a variety of treats, salads and munchies and a full-service bar. Drinks like the Dirty Hippie, Hot Box and Cheba Rita are all Cheba Hut signatures. The restaurant will enforce current COVID-19 guidelines, including heightened sanitation protocols, social distancing requirements and requiring all guests and staff to wear …

October 16, 2020

Development Mixed-use News Retailers Texas

Lionstone to Renovate 1.4 Million-Square-Foot Mixed-Use Destination in Metro Houston

by Alex Tostado October 15, 2020

Sugar Land, Texas — A development team by Houston-based Lionstone Investments will renovate Sugar Land Town Square, a 1.4 million-square-foot mixed-use destination located on the southwestern outskirts of Houston. Lionstone is partnering with Dallas-based creative real estate firm Rebees and Planned Community Developers on the project, which will upgrade landscaping and outdoor common areas to allow for social distancing and more public seating as part of Phase I. In addition, the team will add new signage and tenant storefronts and revamp the tenant roster to include local entrepreneurs with original …

October 15, 2020

Finance Grocery-anchored News Pennsylvania Retailers

JLL Arranges Acquisition Financing for 185,282-Square-Foot Shopping Center in Burnham, Pennsylvania

by Alex Tostado October 15, 2020

Burnham, Pa. — JLL has arranged an undisclosed amount of acquisition financing for Greater Lewistown Plaza, a 185,282-square-foot, grocery-anchored shopping center located in the Central Pennsylvania town of Burnham. Grocer Weis is the anchor tenant at the 22-acre property, and other users include CVS, Dunham Sports, Goodwill and Rent-a-Center. Michael Klein and Claudia Steeb of JLL arranged the fixed-rate loan through AmeriServ Financial. The borrower, Logan GL Holdings LLC, plans to implement a capital improvement program.

October 15, 2020

California Company news News

Design Firm RDC Opens San Diego Office, Names Sean Slater as Principal-in-Charge

by Alex Tostado October 15, 2020

San Diego — Design firm RDC has opened an office in downtown San Diego. Long Beach, California-based RDC has named Sean Slater as principal-in-charge at the new office, which is located at 101 W. Broadway. “We are enthusiastic about San Diego, with its natural assets, human capital, and disposition toward continuing to evolve as a world leader in livable cities,” says Slater. “Currently, our firm’s San Diego portfolio would rank the new RDC office as among the largest design firms in the city.” RDC’s San Diego-area portfolio includes Horton, a …

October 15, 2020

California Grocery-anchored Investment sales News Retailers

SRS Negotiates $6 Million Sale of Grocery Outlet-Occupied Retail Property in Norco, California

by Alex Tostado October 14, 2020

Norco, Calif. — SRS Real Estate Partners has brokered the sale of a single-tenant retail property located at 1428 Sixth St. in Norco. A family partnership acquired the asset from a local developer for $6 million. Grocery Outlet occupies the newly constructed, 18,000-square-foot building, which is situated on 1.7 acres. Grocery Outlet, which opened in March, is the anchor tenant for the new Norco Gateway Shopping Center. Additional tenants include Taco Bell and 6,000 square feet of future retail shops. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease …

October 14, 2020

Development News Retailers Texas

Dick’s Sporting Goods to Open New Store at Copperfield Marketplace in Houston

by Alex Tostado October 14, 2020

Houston — Pittsburgh-based Dick’s Sporting Goods will open a new, 45,198-square-foot store at Copperfield Marketplace, located at 16343 FM 259 Road in Houston. The grand opening will take place from Friday, Oct. 23 to Sunday, Oct. 25. Dick’s Sporting Goods will join Burlington and Med Express as the other anchors at the center, which is owned by Fidelis Realty Partners.

October 14, 2020

Investment sales Michigan News Retailers

DealPoint Merrill Acquires Former Kroger Store in Sterling Heights, Michigan

by Alex Tostado October 14, 2020

Sterling Heights, Mich. — DealPoint Merrill LLC has acquired a 69,275-square-foot former Kroger shopping center in Sterling Heights. The property sits on seven acres at the corner of Dequindre and 18 Mile roads. DealPoint Merrill plans to redevelop the center into a 138,000-square-foot development, but further details of the project were not disclosed. DealPoint Merrill’s CEO David Frank negotiated the transaction while the company’s president, Sterling McGregor, handled the due diligence and financing. The seller and purchase price were undisclosed.

October 14, 2020

Illinois Investment sales News Retailers

JLL Arranges $2.7 Million Sale of Three-Tenant Retail Building Near Chicago

by Alex Tostado October 14, 2020

South Holland, Ill. — JLL Capital Markets has arranged the $2.7 million sale of a three-tenant retail building in South Holland near Chicago. The 5,000-square-foot property is home to Chipotle, JJ Fish & Chicken and an unnamed corporate wireless provider. Alex Sharrin, Alex Geanakos and Eric Cline of JLL represented the seller, Glazier Corp., which is a local Chicago developer. A Southern California-based private investor purchased the asset.

October 14, 2020

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