Fate, Texas — Brookshire Grocery Co., a Tyler, Texas-based chain that operates about 180 grocery stores in Texas, Louisiana and Arkansas, will open a FRESH by Brookshire store in Fate, located about 30 miles northeast of Dallas. The store will span a minimum of 55,000 square feet and will be located at the corner of Interstate 30 and Memorial Parkway. Construction is scheduled to begin by the end of the year, and the store is slated to open in late 2021.
Elkhart, Ind. — SVN Chicago Commercial has brokered the sale of Concord Shopping Center in Elkhart for $8 million. The 601,205-square-foot property is located at 3701 S. Main St. and is 54 percent occupied. Some of the tenants include Chase, Claire’s, GNC, Hobby Lobby, JC Penney, Jo-Ann Fabrics and Spencer’s Gifts. Tim Franz and Matt McParland of SVN represented the undisclosed seller.
Gainesville, Fla. — Butler Enterprises has signed Anthropologie to an 8,750-square-foot lease within Butler Town Center in Gainesville. Butler expects the space to be ready by this fall. The store will be situated off Archer Road across from The Cheesecake Factory. Anthropologie has more than 200 stores in the United States, Canada and Europe, and, according to its website, caters to “sophisticated and contemporary women aged 28 to 45.” The retailer sells women’s apparel and accessories, home décor, furniture and gifts. The 450,000-square-foot Butler Town Center is situated on 267 …
The modern craft beer brewery has emerged as a niche community anchor with flexible business models and loyal customer bases across the United States, particularly in the Northeast. Combining elements of retail, industrial and hospitality models, craft breweries have quickly become one of the most dynamic and trendy business types in major cities and small towns, alike. Some of the largest and most popular craft breweries in the United States are based in the Northeast, including the two largest: Pennsylvania-based D.G. Yuengling & Son Inc.; and Boston Beer Co., the …
Tucson, Ariz. — Retail Value Inc. has sold Tucson Spectrum, a 716,704-square-foot, Food City-anchored shopping center in Tucson, for $84 million. The property was 88 percent leased at the time of sale to tenants including Food City, Harkins Theatres, Bed Bath & Beyond, Ross Dress for Less, Marshalls, Best Buy, Michaels and Old Navy. Target and The Home Depot shadow anchor the property, which was completed in 2001. Tucson Spectrum is situated at on West Irvington Road near Interstate 19, five miles south of downtown Tucson. Bryan Ley, Patrick Dempsey, …
Moorpark, Calif. — Avison Young has arranged the sale of The Village at Moorpark, a community shopping center located at 706 W. Los Angeles Ave. in Moorpark. London Reo Retail-CA, a Delaware limited liability company, sold the asset to California-based Chesser Group for $20 million. Built in 2007 on 11.5 acres, the 129,374-square-foot property was 76.3 percent occupied at the time of sale to tenants including Petco, Dick’s Sporting Goods, Verizon, Bank of America and Leslie’s Pool Supply. Chris Maling and David Maling of Avison Young represented the seller and …
Warren, Mich. — Art Van Furniture LLC officially filed for Chapter 11 bankruptcy Sunday night after announcing Thursday that it would close all of its stores. The Warren-based retailer filed with the U.S. Bankruptcy Court District of Delaware. In the filing, Art Van said it operates 169 locations, including 92 furniture and mattress showrooms and 77 freestanding mattress and specialty locations. The company expects to close the stores by May 31 and lay off all of its 3,100 employees. Multiple media outlets reported that the company has between $100 million and …
Ventura, Calif. — Hanley Investment Group has arranged the $7.4 million sale of Campus Corner, a 9,000-square-foot, multi-tenant retail building in Ventura. A Starbucks with a drive-thru anchors the fully leased building, alongside Jersey Mike’s Subs, Eddie’s Grill, Ventura’s Children’s Dental Group and Jessica’s Nails. Campus Corner is situated at 5101 Telegraph Road, less than a mile from Ventura College and six miles east of downtown Ventura. Ed Hanley, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, an affiliate of Beverly Hills, California-based MJL Capital Partners LLC, in …
Kalamazoo, Mich. — SRS Real Estate Partners has arranged the sale of a two-building retail property in Kalamazoo for $2.5 million. The freestanding buildings are home to Starbucks and Subway. Located on 9th Street, the Starbucks spans 2,085 square feet and the Subway totals 2,000 square feet. The two buildings were built in 2017. Michael Carter and Frank Rogers of SRS represented the seller, a Detroit-based private investor. The team also represented the buyer, a Kalamazoo-based private investor. The sales price represents a cap rate of 5.58 percent, one of …
San Jose, Calif. — Unibail-Rodamco-Westfield (URW) has opened a 500,000-square-foot expansion at Westfield Valley Fair, the French developer’s $1.1 billion retail destination in San Jose. The retail center is part of a redevelopment project that replaced two 1950s-era shopping centers. The project now encompasses 2.2 million square feet in total, with more restaurant and store openings planned for 2021. A three-level flagship Bloomingdale’s luxury apparel department store anchors the new expansion, alongside other apparel retailers including Anthropologie, Club Monaco, Fabletics, Indochino, Jimmy Choo, John Varvatos, Longchamp, Rodd and Gunn, Urban …