Monday, December 23, 2024
Read the Digital Magazines
Subscribe
Author

Alex Tostado

DevelopmentGrocery-anchoredNew JerseyNewsRetailers

Lidl Opens 28,000-Square-Foot Grocery Store at Brunswick Shopping Center in New Jersey

by Alex Tostado

North Brunswick, N.J. — German discount grocer Lidl has opened a 28,000-square-foot store at Brunswick Shopping Center, a 288,000-square-foot retail center located in North-Central New Jersey. Other tenants at the property include LA Fitness, Muscle Maker Grill, GNC, Dollar Tree, Sally Beauty, McDonald’s, Sherwin Williams and Community Dental. New Jersey-based Levin Management Corp. represented the landlord in the lease negotiations. The representative of the tenant was not disclosed. Lidl now operates 10 stores in New Jersey.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsRetailersRhode Island

CVS Reports 35.2 Percent Revenue Increase in Second Quarter, Stock Up 20 Percent

by Alex Tostado

Woonsocket, R.I. — CVS Health Corp. (NYSE: CVS) reported total revenue of $634 billion in the second quarter, a year-over-year increase of 35.2 percent. The company’s net income also rose by 48 percent to roughly $5 billion during the period, suggesting that revenues are rising while costs are remaining relatively flat. The Woonsocket-based pharmacy and convenience store chain, which acquired insurance giant AETNA in late 2018, saw its stock price open at $65.53 per share Wednesday, Aug. 5, giving it a year-to-date increase of nearly 20 percent. CVS announced plans …

Continue Reading
0 FacebookTwitterLinkedinEmail
FloridaGrocery-anchoredInvestment salesNewsRetailers

TSCG Negotiates $11.7 Million Sale of Retail Property in Metro Miami

by Alex Tostado

Naranja, Fla. — TSCG has negotiated the $11.7 million sale of Naranja Lakes Shopping Center, a 90,450-square-foot, grocery-anchored retail property in Naranja. The property was 95 percent leased at the time of sale to tenants including Winn-Dixie, Family Dollar and La Colonia Medical Center. The asset is situated at the intersection of U.S. Highway 1 and Naranja Lakes Blvd., 29 miles south of downtown Miami. Anthony Blanco of TSCG represented the seller, an affiliate of Asheville, North Carolina-based FIRC Group, in the transaction. An affiliate of Boston-based Longpoint Realty Partners …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesKansasNewsRetailers

Block & Co. Acquires 46,538-Square-Foot Former Best Buy Store in Kansas City

by Alex Tostado

Kansas City, Kan. — Block & Co. Inc. Realtors has acquired a former Best Buy store located at 10500 Parallel Parkway in Kansas City. The purchase price was undisclosed. The 46,538-square-foot freestanding building sits on 4.2 acres within the 850,000-square-foot Plaza at the Speedway shopping center. David Block, Alex Block and Max Kosoglad of Block & Co. represented the buying entity. David Hickman of CBRE represented the undisclosed seller. Block & Co. will handle the leasing and management of the vacant space, which can be leased to a single tenant …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesMassachusettsNewsRetailers

NKF Negotiates $42.4 Million Sale of Retail, Office Building in Boston’s Back Bay Area

by Alex Tostado

Boston — Newmark Knight Frank (NKF) has negotiated the $42.4 million sale of 8 Newbury Street, a 17,023-square-foot office and retail building located in Boston’s Back Bay area. A Rolex flagship store occupies the ground- and second-floor retail spaces of the property, which was originally built in the 1920s. Robert Griffin, Geoffrey Millerd and Paul Penman of NKF represented the seller, a joint venture between UrbanMeritage and L&B Realty Advisors, in the transaction. The trio also procured the buyer, a partnership between Chile-based family office Corso and GLL Real Estate …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesMinnesotaNewsRetailers

Hanley Investment Group Arranges $3.4 Million Sale of Two-Tenant Retail Building in Metro Twin Cities

by Alex Tostado

Forest Lake, Minn. — Hanley Investment Group Real Estate Advisors has arranged the sale of a new two-tenant retail building in Forest Lake within metro Twin Cities for $3.4 million. The 6,812-square-foot property is home to Chipotle and Southwest Dental Care, which is part of the Heartland Dental network. Jeff Lefko and Bill Asher of Hanley represented the seller, Glenborough LLC, a California-based private real estate investment management company. Deborah Vannelli of Upland Real Estate Group represented the buyer, a Duluth, Minnesota-based private investor.

Continue Reading
0 FacebookTwitterLinkedinEmail
IndianaInvestment salesNewsRetailers

Timber Development Acquires 12,000-Square-Foot Retail Property in Winchester, Indiana

by Alex Tostado

Winchester, Ind. — Timber Development has acquired a 12,000-square-foot, Walmart-shadow anchored retail property in Winchester. The asset was 40 percent leased at the time of sale to tenants including Kubachi Japanese and Hibachi Restaurant, Mimi Nails and Verizon Wireless. The seller and sales price were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsRetailersVirginia

JLL Negotiates $35.2 Million Sale of Five-Property Retail Portfolio in Metro Richmond

by Alex Tostado

Richmond, Va. — JLL has negotiated the $35.2 million sale of five retail buildings leased to Wawa in metro Richmond. The five properties are located at 6001 Iron Bridge Road in Richmond; 8800 Brook Road in Glen Allen; 3840 N. Bailey Bridge Road in Midlothian; and 600 E. Hundred Road and 11021 Iron Bridge Road in Chester. Each property was built between 2000 and 2001, and Wawa recently executed 20-year lease extensions at each property. Marc Mandel, Steve Schrenk, Jordan Lex and Chris Hew of JLL represented the seller, a …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsFloridaGrocery-anchoredNewsRetailers

Publix Experiences 21.8 Percent Boost in Sales During Second Quarter

by Alex Tostado

Lakeland, Fla. — Publix’s sales have increased 21.8 percent year-over-year, the company announced during its second-quarter earnings report. As an essential retailer, the Lakeland-based grocer has remained open through the nationwide COVID-19 pandemic, which was declared a national emergency March 13. For its second quarter, which spanned the three months ending June 27, Publix’s sales reached $11.4 billion, an increase from $9.3 billion the same time a year ago. The company estimates its sales in the second quarter increased approximately $1.5 billion, or 16.1 percent, due to the pandemic.

Continue Reading
0 FacebookTwitterLinkedinEmail
LeasingMichiganNews

Beyond Juicery + Eatery to Open at Troy Marketplace in Metro Detroit

by Alex Tostado

Troy, Mich. — Beyond Juicery + Eatery has signed a 1,104-square-foot lease at Troy Marketplace. The juicer will occupy space that formerly housed Menchie’s Frozen Yogurt. The retail center is located at the intersection of Big Beaver and Rochester roads in Troy, about 20 miles north of Detroit. Tjader Gerdom, Michael Murphy and Larry Siedell of Gerdom Realty & Investment represented the landlord, RPT Realty, in the lease negotiations. William Gershenson of Gershenson Group represented Beyond Juicery + Eatery.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts