Katy, Texas — Two tenants have signed leases at LaCenterra at Cinco Ranch, a shopping center located in Katy. Kilwin’s, a sweets shop, will occupy a 1,014-square-foot space at the property beginning in the fourth quarter of this year. Nando’s will also open a 2,754-square-foot restaurant at the center in the first quarter of 2024. JLL manages the property.
East Rutherford, N.J. — Babies”R”Us has opened flagship store at American Dream, a 3 million-square-foot retail development located in East Rutherford, roughly 13 miles outside New York City. In addition to a baby registry lounge, nursery design center, learning center and comfort zone, the store features interactive experiences. This marks the return of the chain to the U.S. following WHP Global’s acquisition of both the Babies”R”Us and Toys”R”Us brands in 2021 and the opening of a Toys”R”Us flagship store last year.
Greenwood, S.C. — Cushman & Wakefield has arranged the $10.8 million sale of Westwood Plaza, an 83,354-square-foot retail center located in Greenwood. Planet Fitness, Dollar Tree and Popshelf anchor the center. Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the undisclosed seller in the transaction. Prudent Growth Partners acquired the property.
Washington, D.C. — The U.S. Census Bureau reports that overall retail sales in June rose 0.2 percent from May and 1.5 percent from June 2022. The Wall Street Journal reports that the retail sector’s three consecutive months of positive sales activity can be attributed in part to inflation easing. The Consumer Price Index, the U.S. Bureau of Labor Statistics’ leading indicator for inflation, rose at an annualized rate of 3 percent in June, the lowest figure since March 2021. The National Retail Federation (NRF), a Washington, D.C.-based advocacy organization for the retail industry, …
LaGrange, Ga. —Marcus & Millichap has brokered the $3.3 million sale of a newly constructed single-tenant property in LaGrange. Chick-fil-A occupies the 5,000-square-foot property, which is as an outparcel to a new Publix-anchored shopping center, on a 15-year ground lease. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the undisclosed seller in the transaction.
Brick Township, N.J. — First Watch will open a 3,846-square-foot restaurant in Brick Township. Scheduled to open in 2024, the property will be situated on a pad site within Brick Commons, a 278,145-square-foot retail center. Amy Staats and Hugh Scullin of Katz & Associates represented the tenant in the leasing negotiations.
Miami Gardens, Fla. — Marcus & Millichap has brokered the $10.1 million sale of Shoppes of Ives Dairy, a 24,517-square-foot retail strip center located in Miami Gardens. Tenants at the property include Wells Fargo, Smoothie King, The UPS Store, Subway, T-Mobile and Foot Locker. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller, a private investment firm, in the transaction.
San Diego — High Bluff Capital Partners will assume ownership of a portfolio comprising 81 Hardee’s locations following an auction. Located in Alabama, Florida, Georgia, Kansas, Missouri, Montana, South Carolina and Wyoming, the restaurants were previously owned by franchisee Summit Restaurant Group, which filed for Chapter 11 bankruptcy in May of this year. The transaction is expected to close in August. Dave Dixon will oversee operation of the restaurants. “High Bluff is the ideal partner to support our efforts…while making critical investments in restaurant remodels and other initiatives to boost traffic …
Greenwood Village, Colo. — Westwood Financial has sold Yosemite Center, a 23,847-square-foot shopping center located in Greenwood Village, roughly 12 miles outside Denver. Tenants at the property, which was fully leased at the time of sale, include Chipotle Mexican Grill, Jimmy John’s, Advance Auto Parts, Massage Envy, The Joint and D1 Training. CBRE National Retail Partners brokered the transaction.
Fort Worth, Texas — The Woodmont Co. has broken ground on Berkshire Corner, a retail center that will total 12,002 square feet in Fort Worth. Upon completion, tenants at the property will include Jersey Mike’s Subs, Blue Mound Nail Spa, Blue Mount Liquor, Mynt Barbershop and ProSmiles Dental. Jake McCoy and Jack Mock negotiated the leases on behalf of Woodmont on an in-house basis. A construction timeline was not disclosed.
