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Alex Tostado

MAB American to Break Ground on $80 Million Monroe Pavilion Shopping Center in Metro Atlanta

by Alex Tostado January 21, 2020

Monroe, Ga. — MAB American Management plans to break ground in the first quarter on Monroe Pavilion, an $80 million shopping center situated on a 100-acre site in Monroe, an Atlanta suburb in Walton County. The property’s leasing agent, Retail Specialists, has signed several retailers to join the tenant roster of the 350,000-square-foot project, including Publix, Ross Dress for Less, Ulta Beauty, Marshalls, Rack Room Shoes and Five Below. Beau Young of Retail Specialists is also targeting restaurants and service-based retailers for the shopping center and its outparcels. MAB American …

January 21, 2020

Company news News Retailers Virginia

Hair Salon Retailer Ratner Cos. to Close More Than 80 Salons

by Alex Tostado January 21, 2020

Vienna, Va. — The Ratner Cos., the parent company of salon concepts such as Hair Cuttery, Bubbles and Salon Cielo, plans to trim its 844-store portfolio by 10 percent. The company plans to maintain a presence in all existing markets as it looks to shift resources to its best-performing salons. Ratner Cos. cites “intense competition and rising operating costs,” as well as shifting consumer shopping methods, as the basis for its decision. The firm has engaged in discussions with landlords to renegotiate terms or exit some of its leases. In …

January 21, 2020

Investment sales Massachusetts News Retailers

Avison Young Brokers $7 Million Sale of Two Retail Properties in Metro Boston

by Alex Tostado January 21, 2020

Needham and Newton, Mass. — Avison Young Commercial Real Estate has brokered the $7 million sale of two retail properties in Needham and Newton, two western suburbs of Boston. The property in Needham, a 15,609-square-foot retail center located at 238 Highland Ave., is leased to Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa. The property in Newton, a 3,588-square-foot building located at 106 Needham St., is leased to fitness equipment distributor Gym Source. Brandon Dickinson of Avison Young represented the seller, Terrazzino Investment Trust, in the transaction. …

January 21, 2020

Investment sales News Retailers Wisconsin

Mid-America Brokers Sale of 7,882-Square-Foot Retail Building in Oak Creek, Wisconsin

by Alex Tostado January 21, 2020

Oak Creek, Wis. — Mid-America Real Estate Corp. has brokered the sale of a 7,882-square-foot retail building on an outlot to Drexel Town Square in Oak Creek, about 12 miles south of Milwaukee. The sales price was undisclosed. The property is fully leased to five tenants, including Associated Bank, Sport Clips, Bentley’s Pet Stuff, Charles Schwab and Tropical Smoothie Café. Carly Gallagher Kelly and Andrew Prater of Mid-America represented the seller, a Wisconsin-based developer. A private investor purchased the asset.

January 21, 2020

Investment sales News North Carolina Retailers

Progress Realty Acquires Shopping Center in Fayetteville, North Carolina for $36 Million

by Alex Tostado January 20, 2020

Fayetteville, N.C. — Progress Realty Partners has acquired Marketfair Shopping Center, a 219,000-square-foot retail property in Fayetteville, for $36 million. The property recently underwent a complete redevelopment and remerchandising, highlighted by the mid-December grand opening of Lidl. The German grocer joins other national tenants such as Planet Fitness, Gander Outdoors and AMC Theatres. Marketfair Shopping Center is located at 1916 Skibo Road, six miles west of downtown Fayetteville. The seller was Westport Capital.

January 20, 2020

Company news Development News Pennsylvania Retailers

Five Below Plans to Open 180 Stores in Fiscal Year 2020

by Alex Tostado January 20, 2020

Philadelphia — Five Below Inc. plans to open 180 stores this year, which would grow the Philadelphia-based retailer’s footprint by 20 percent. The announcement came during the company’s fourth-quarter earnings call. Specific plans for the openings were not disclosed. At the same time, Joel Anderson, president and CEO of Five Below, said the company also acquired the e-commerce platform, fulfillment operation and certain other assets of Hollar.com.

January 20, 2020

California Features News Retailers SCBlog

Retailers, Landlords Face Complications of Factoring Online Returns Into Gross Sales

by Alex Tostado January 17, 2020

With the rise of e-commerce, declining foot traffic in malls and shuttering department stores, retail landlords and brick-and-mortar tenants have faced a wave of challenges in recent years. As a result, both landlords and tenants are constantly searching for new and unique ways to improve their bottom-line figures. One recent area where this has become an issue concerns in-person returns from online sales, and how they affect a retail tenant’s percentage rent calculation. Many retail leases contain a percentage rent provision in which a tenant pays a portion of its …

January 17, 2020

Investment sales News Retailers Texas

JLL Negotiates Sale of 72,569-Square-Foot Bay Area Plaza Near Houston

by Alex Tostado January 17, 2020

Webster, Texas — JLL has negotiated the sale of Bay Area Plaza, a 72,569-square-foot commercial property in Webster, located about 23 miles southeast of Houston. Bay Area Plaza comprises 45,269 square feet of retail space and 27,300 square feet of industrial flex space that combined was 98 percent leased at the time of sale. Retail tenants include Total Body Work, Pizza Hut, Dapper Doughnuts and Amy’s Nails. Ryan West, John Indelli and Ethan Goldberg of JLL represented the seller, Orr Commercial Inc., in the transaction. The buyer was undisclosed.

January 17, 2020

Georgia Investment sales News Retailers

Halpern Enterprises Acquires Hobby Lobby-Anchored Shopping Center in Metro Atlanta for $11.6 Million

by Alex Tostado January 17, 2020

Newnan, Ga. — Halpern Enterprises Inc. has acquired Newnan Crossing, a 92,412-square-foot shopping center in Newnan, about 35 miles southwest of downtown Atlanta. Ohio-based Retail Value Inc. sold the property to Smyrna, Georgia-based Halpern Enterprises for $11.6 million. A 66,412-square-foot Hobby Lobby anchors the center, which was fully leased at the time of sale. Other tenants include CATO, GNC, Edible Arrangements, Sally Beauty, American Deli, The Athlete’s Foot and T-Mobile. Walmart and Lowe’s Home Improvement shadow-anchor the center. Newnan Crossing was built in 1996 and is situated adjacent to Interstate …

January 17, 2020

Investment sales News Ohio Retailers

Cooper Group Negotiates $2.1 Million Sale of CVS-Occupied Property in Akron, Ohio

by Alex Tostado January 17, 2020

Akron, Ohio — The Cooper Commercial Investment Group has negotiated the sale of a 10,125-square-foot retail property occupied by CVS Pharmacy in Akron for $2.1 million. CVS has more than 18.5 years remaining on its lease term. Bob Havasi and Dan Cooper of Cooper Group represented the seller, an Ohio-based private investor. A private Texas-based investor purchased the asset at a cap rate of 6 percent.

January 17, 2020

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