Vernon Hills, Ill. — Pickleball entertainment concept Picklemall has signed a 46,000-square-foot lease in Vernon Hills, a northern suburb of Chicago. The facility, which will be located in a space formerly occupied by Toys “R” Us, is scheduled for completion in the first quarter of 2024. The flagship venue marks the first of 50 that are planned throughout the country over the next two years. Transwestern Real Estate Services (TRS) represented Picklemall in the leasing negotiations.
Lawrenceville, N.J. — Federal Realty Investment Trust has announced the rebranding of Mercer Mall in Lawrenceville, roughly 40 miles northeast of Philadelphia. Moving forward, the property, which totals 551,000 square feet, will be known as Mercer on One. Federal Realty has also signed leases with two new tenants at the property. J. Crew Factory will occupy 6,100 square feet, and Crate and Barrel has opened a 42,000-square-foot store. Additionally, DSW is currently undergoing a full remodel and façade upgrade. Ashton Design led the rebranding effort.
Houston, Mont Belvieu and Richmond, Texas — David Littwitz of Littwitz Investments has arranged three restaurant leases totaling 8,733 square feet in Texas. Blue Tuba Euro-Tex Cuisine has signed a 5,141-square-foot lease at the Harold’s Heights retail building in Houston. Additionally, Beaky’s Hot Chicken will open a 2,436-square-foot restaurant at a shopping center currently underway in Mont Belvieu, and Cinnaholic Gourmet Cinnamon Rolls will occupy 1,156 square feet at Waterview Town Center in Richmond. Littwitz represented the tenants in the leasing negotiations.
Tomball, Texas — NewQuest Properties is underway on the development of a $90 million retail center in Tomball, roughly 35 miles outside Houston. Dubbed The Grand at 249, the property will total 404,256 square feet upon completion, including two multi-tenant buildings and 12 pad sites. Tenants at the center will include AT&T, Boomer Jack’s, Gringo’s, Jersey Mike’s, Milano Nails and Two Pho Nine Asian Fusion. Andrew Alvis and Davis Meyers are handling leasing at the development. Openings at the project are scheduled to begin this month.
Euless, Texas — STRIVE has arranged the sale of Euless Town Center, a 239,610-square-foot shopping center located in the Dallas-Fort Worth suburb of Euless. Ross Dress for Less and Aldi anchor the property. Other tenants include iT’Z Family Food and Fun, Dirt Cheap, SKECHERS, Sally Beauty, Mid-Cities Animal Urgent Care and Ichiban Buffet. Hudson Lambert and Jennifer Pierson of STRIVE represented the seller, a California-based investor, in the transaction.
New York City — Marcus & Millichap has brokered the $11.7 million sale of a retail center located in Brooklyn in New York City. Totaling 26,260 square feet, the property was fully occupied at the time of sale by five ground-floor tenants, with a 12,000-square-foot A+ Kidz Academy occupying the second floor. 7-Eleven and Clean Rite anchor the property. Scott Plasky and Alexander Arustamian of Marcus & Millichap represented the undisclosed seller in the transaction.
Lewisville, Texas — Planet Fitness has signed a 20,105-square-foot lease at Vista Ridge Plaza, a retail center located in Lewisville, roughly 30 miles outside Dallas. Other tenants at the property include Harbor Freight, McAlister’s Deli and Smoothie King. Oliver Willman, Baylor Worman, Grayson Duyck and William Carr of Matthews Real Estate Investment Services represented the landlord in the leasing negotiations.
Viera, Fla. — Eyewear brand Warby Paker has signed a 2,200-square-foot lease at The Avenue Viera, a retail center in Viera. Scheduled to open Oct. 14, this will mark the 16th store in the state for the brand. Other tenants at the property include World Market, European Wax Center and lululemon, among others.
Fullerton, Calif. — Walker & Dunlop has arranged a $39.9 million loan for the refinancing of Orangefair Marketplace, a 244,000-square-foot retail center located in Fullerton. Riley Manke and Andrew Westling secured the financing through Morgan Stanley on behalf of the borrower, Columbus Pacific Properties.
Woodstock, Ga. —Joint venture partners CBL Properties and Horizon Group Properties have secured a $79.3 million loan for the refinancing of The Outlet Shoppes of Atlanta, a retail outlet property located in Woodstock. The 10-year, fixed-rate financing replaces two existing loans with a total balance of $69.5 million that were set to mature this November. The property features 103 retailers, including American Eagle Outfitters, Auntie Anne’s, Athleta, Banana Republic Factory Store, Champion, Forever 21 and GNC, among others.
