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Hayden Spiess

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DevelopmentFloridaInvestment salesNews

PEBB, Banyan to Develop 14.2-Acre Retail Project in Port St. Lucie, Florida

by Hayden Spiess

Port St. Lucie, Fla. — PEBB Enterprises and Banyan Development have acquired a land parcel in Port St. Lucie, with plans to develop a 14.2-acre retail project at the site. Dubbed the Shoppes at Southern Grove, the retail center will be situated within the Tradition master-planned community. This marks the second retail development within Tradition for the joint venture, which acquired the 23-acre site from Mattamy Palm Beach LLC for $7.5 million. Upon completion, the project will feature additional outparcels available for ground lease ranging in size from 1 to 2.4 …

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Paul-Kurzawa
Company newsNewsTexas

Centennial Appoints Paul Kurzawa President

by Hayden Spiess

Dallas — Dallas-based retail real estate owner and operator Centennial has appointed Paul Kurzawa to serve as president of the company. Kurzawa has 25 years of experience in the industry, including tenures with The Blackstone Group, Equity Office Properties, Westfield Corp., Lend Lease Corp., General Property Trust and Caruso. He most recently served as chief operating officer of CenterCal Properties. Current president Whitney Livingston is departing to join the International Council of Shopping Centers (ICSC) as chief operating officer. In addition to its portfolio of owned shopping, dining, entertainment and mixed-use …

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LeasingNew JerseyNews

Four New Tenants Sign Leases at Bergen Town Center in New Jersey

by Hayden Spiess

Paramus, N.J. — Four new tenants have signed leases at Bergen Town Center, a retail center located in Paramus. Bath & Body Works and Crumbl recently opened at the property, occupying 4,157 and 2,138 square feet, respectively. First Watch and Tacoria are scheduled to join the lineup in 2025, opening 4,790-square-foot and 1,654-square-foot restaurants. Taryn Brandes, Emily Green and Alexandra Yanoff of Brand Urban LLC represented the landlord, Urban Edge Properties, in the lease negotiations with Crumbl, First Watch and Tacoria. Paul Schiffer represented Urban Edge in negotiations with Bath & …

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Big-Lots-Inglewood-California-1
Company newsFinanceNew YorkNews

A&G Markets 255 Big Lots Store Leases For Sale

by Hayden Spiess

Melville, N.Y. — Melville-based A&G Real Estate Partners is accepting bids on 255 Big Lots store leases throughout the country as part of the retailer’s Chapter 11 restructuring. Of the leases, 51 are new to market. Big Lots initiated voluntary Chapter 11 bankruptcy proceedings Sept. 9 to facilitate a sale of substantially all of its assets and business operations. Ranging in size from 16,321 to 54,610 square feet, the leases are located across 41 states. Final bid deadlines for the leases, which A&G is offering in two groups, will be in …

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Company newsFinanceNewsRestaurantsTexas

TGI Fridays Files for Chapter 11 Bankruptcy

by Hayden Spiess

Dallas — TGI Fridays Inc., which owns and operates 39 U.S. restaurants, has voluntarily filed for Chapter 11 bankruptcy protection in the Northern District of Texas. The Dallas-based operator cited long-running declines in sales dating back to the pandemic as the main impetus behind the filing. All independently owned and operated franchise locations, both foreign and domestic, are unaffected by the filing. An entity doing business as TGI Fridays Franchisor LLC, which owns the TGI Fridays brand and other intellectual property, was also unaffected. TGI Fridays Inc. has secured a commitment …

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Investment salesNewsVirginia

Cohen & Steers, DLC Acquire 119,085-Square-Foot Shopping Center in Metro Washington, D.C. 

by Hayden Spiess

Springfield, Va. — Cohen & Steers and DLC have acquired Springfield Commons, a 119,085-square-foot shopping center located in Springfield, approximately 15 miles outside Washington, D.C. Tenants at the property, which was 78 percent leased at the time of sale, include Pure Gym, Old Navy, Pure Hockey and Staples. The center is situated across from Springfield Town Center. “Valuations in the open-air shopping center sector are attractive,” says James Corl, head of the private real estate group at Cohen & Steers. “The market is revealing compelling investment opportunities.”

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DevelopmentLeasingMassachusettsNews

Simon Completes 130,000-Square-Foot Redevelopment Project at Burlington Mall in Boston Suburb

by Hayden Spiess

Burlington, Mass. — Simon has completed a 130,000-square-foot redevelopment at Burlington Mall, a retail property located in the Boston suburb of Burlington. The project included the addition of an outdoor park with green space and amenities; elevated wood elements and porcelain tile finishes throughout the center; and new seating and signage. Almost 50 retailers and eateries were also added during the redevelopment. The park features 30,000 square feet of space dedicated to wellness, beauty and dining for concepts including Sweetgreen, Sweathouz, All Eye Care Doctors, SkinMD and Caffe Nero. New tenants …

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CaliforniaInvestment salesNews

Hanley Arranges Sale of 7,914-Square-Foot Retail Building in Southern California

by Hayden Spiess

Aliso Viejo, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a 7,914-square-foot building located in Aliso Viejo. Situated within Aliso Viejo Town Center, the currently vacant property previously housed Macaroni Grill. ValueRock Realty Partners acquired the building for $5.3 million. Sean Cox, Bill Asher and Kevin Fryman of Hanley represented the seller, a Florida-based private investor, in the transaction. Tenants at Aliso Viejo Town Center, which totals 380,000 square feet, include Ralphs, CVS/pharmacy, Staples, T.J. Maxx, HomeGoods, PetSmart and Regal Cinemas. 

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Cosm_Detroit
DevelopmentEntertainmentLeasingMichiganMixed-useNews

Cosm to Anchor 1.5 Million-Square-Foot Development at Cadillac Square in Detroit 

by Hayden Spiess

Detroit — Immersive entertainment concept Cosm has signed on as the anchor tenant at Development at Cadillac Square, a 1.5 million-square-foot mixed-use project scheduled to break ground in Detroit in 2025. Cosm Detroit will feature an LED dome spanning roughly 90 feet with Shared Reality technology, offering experiential sports and entertainment programming. Content will include a production of Cirque du Soleil’s “O,” as well as immersive art experiences from members of the Cosm Studios Creator Program. The venue, designed by architecture firm Rosetti, will also feature a food-and-beverage element, with gastropub-style …

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DevelopmentGrocery-anchoredNewsTexas

Retail Connection Breaks Ground on 150,000-Square-Foot Shopping Center in Metro Austin

by Hayden Spiess

Manor, Texas — The Retail Connection, through its affiliate Connected Development Services, has broken ground on a 150,000-square-foot shopping center in Manor, roughly 15 miles outside Austin. Dubbed Manor Crossing, the center will be situated within a 63-acre site that will also house a 101,000-square-foot H-E-B grocery store. The property will comprise four buildings on 18 acres. Tenants at the center will include T.J. Maxx, Burlington, Planet Fitness, Five Below, Rack Room Shoes, Jersey Mike’s, James Avery, McAlister’s Deli, Mattress Firm, Tropical Smoothie Café and Tomlinson’s Feed. Cuaso Design Studio and …

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