Chattanooga, Tenn. — Ziff Real Estate Partners has sold East Brainerd Shopping Center, an 18,156-square-foot retail strip center located in Chattanooga. The property is leased to tenants including East Brainerd Wine & Spirits, Marco’s Pizza, Tobacco Mart of Chattanooga and Good World Goods. A gas station and Food City grocery store, not included in the sale, are also located within the center.
San Francisco —Nordstrom Inc. will close two stores located near San Francisco’s downtown, reports the Washington Street Journal. Located on Market Street, the first store will close Jul. 1, with the Westfield San Francisco Centre mall location scheduled to close at the end of August. “We can better serve our customers there by focusing on our 16 nearby Nordstrom and Nordstrom Rack locations, as well as online,” said a representative for the company.
Dallas — Dallas-based discount home goods retailer Tuesday Morning is going out of business and closing all of its stores. The company’s website lists a going-out-of-business sale where consumers can save up to 30 percent off all items. The retailer has about 200 stores remaining in 25 states. The news comes just one week after Bed Bath & Beyond’s announcement of its closure. Tuesday Morning struggled throughout the pandemic, filing for Chapter 11 bankruptcy protection in May 2020. At that time, the retailer shuttered about 230 of its 687 stores. …
Seattle — Nordstrom Inc. has announced plans to open five new Nordstrom Rack stores in California. Scheduled to open in 2024 and 2025, the stores will be located in Davis, Elk Grove, Gilroy, Oceanside and San Mateo. Both the Davis and Gilroy stores will comprise 25,000 square feet, with the Oceanside and San Mateo stores totaling 31,000 and 36,000 square feet, respectively. Each of the stores will be situated within shopping centers, with the new locations bringing the total count of Nordstrom Rack stores to 68.
Teaneck, N.J. — Astoria Realty Corp. has sold a 20,413-square-foot retail strip center located in the Northern New Jersey community of Teaneck for $6.2 million. The property was originally built in 1930 and renovated earlier this year. Glatt’s Express Supermarket serves as the anchor of the center, which was 93 percent leased at the time of sale. Karly Iacono of CBRE represented Astoria Realty Corp. in the transaction.
Debary, Fla. — Legacy Realty Group Advisors has brokered the $5.3 million sale of Debary Commons, a shopping center located in Debary, roughly 26 miles outside Orlando. Winn Dixie anchors the 64,000-square-foot property. Jacob Baruch, Daniel Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Joliet, Ill. — Cullinan Properties has rebranded Rock Run Crossings in the Chicago suburb of Joliet to RockRun Collection. Construction is underway at the property, which will feature retail, restaurant, entertainment and healthcare space, in addition to multifamily residences. The rebranding also includes changes to the development’s logo, leasing collateral, website and development visuals.
Sarasota, Fla. — Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot shopping center located in Sarasota. Burlington anchors the center, which is leased to 15 tenants including Stage Door Studios, OfKors Bakery and EGGSTraordinary Café. Justin Smith, Chris Peterson, Fred Victor and Sam Koonce of Atlantic Capital Partners represented the seller and procured the buyer in the transaction.
Berlin, Vt. — Heidenberg Properties Group has rebranded Berlin Mall as Central Vermont Marketplace in Berlin. This comes as part of the property’s transition to a mixed-use development, which included the opening of Chesnut Place, a 98-unit senior living facility. Heidenberg has also added two new retailers, which occupy a total of 60,000 square feet. Five Below opened a store at the property in February and Hobby Lobby took over the former JC Penney anchor space in April. Heidenberg has also obtained approval for the addition of 30 residential units …
Farmington, Mo. — Axiom Capital Corp. has arranged a $3 million fixed-rate permanent loan for the refinancing of a freestanding single-tenant retail building located in Farmington. Built in 2016, the property comprises a 51,373-square-foot building with 162 parking spaces on 3.9 acres.
