Hamden, Conn. — The Wilder Cos., in partnership with Silver Peak Real Estate Partners has acquired The Marketplace at Hamden, a 235,000-square-foot shopping center in Hamden.
Los Angeles — Australia-based QIC has expanded its senior leadership team, announcing several senior executive appointments in the United States and Australia.
Franklin, Tenn. — CBL Properties, along with its 50/50 joint venture partners TIAA and APG, has received a $155 million, non-recourse loan for CoolSprings Galleria, a 1.1 million-square-foot mall in Franklin, roughly 20 miles south of Nashville.
McHenry, Ill. — Mid-America Real Estate Corp. has arranged the $32 million sale of The Shops at Fox River, a 340,849-square-foot shopping center in McHenry, located 60 miles northwest of Chicago.
Tampa, Fla. — Plaza Advisors has arranged the sale of Southtown Center, a 43,669-square-foot shopping center in Tampa.
Virginia Beach, Va. — Atlanta-based New Realm Brewing has unveiled plans to open a second brewery and taproom in Virginia Beach.
Chicago — Global Builders Inc. has broken ground on a 42,000-square-foot retail development in Chicago.
Retail leasing is typically viewed as a long-term commitment. After all, these deals take a great amount of work, and all parties must come to the table confident this will be a mutually beneficial relationship for years to come. Fast fashion and foodie trends may change, but the long-term viability of shopping center owners and tenants is dependent on their ability to both adapt and stay the course. Like everything else in business, however, balance is key. Expand too fast and a retailer risks alienating customers. Sign today’s trendiest tenants …
Scott Holmes, national director of retail in Marcus & Millichap’s Phoenix office, noted in his last Retail Insight Q&A that the national retail vacancy rate at the end of 2017 was 5.1 percent. Holmes and his team believe this rate may hit or even fall below 5 percent this year. Retail Insight sat down with Holmes once again to discuss this trend more in depth, particularly as news surrounding store closures, consolidations and threats from e-commerce continue to swirl.
Los Angeles — Shapell Liberty Investment Properties has signed three new tenants to The Vineyards, a $150 million planned mixed-use development in Los Angeles’ Porter Ranch community.