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Hayden Spiess

Davids-Bridal
Company newsNewsPennsylvania

David’s Bridal Files for Bankruptcy Protection Ahead of Potential Sale

by Hayden Spiess

Conshohocken, Pa. — David’s Bridal LLC and some of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. Both the brand’s nearly 300 physical stores, as well as its online platforms, will remain open and operational, according to the company. The Conshohocken-based retailer is seeking customary “first-day” relief authorizations from the United States Bankruptcy Court for the District of New Jersey to continue payment of employee wages and benefits, maintain certain customer programs and honor vendor obligations. The company had previously filed for …

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GeorgiaGrocery-anchoredInvestment salesNewsNorth Carolina

Nuveen Acquires Two Retail Centers Totaling 139,732 Square Feet

by Hayden Spiess

Atlanta and Charlotte, N.C. — Nuveen Real Estate has acquired two retail centers totaling 139,732 square feet in separate transactions. Roswell Wieuca in Atlanta was originally constructed in 1954 and comprises 73,370 square feet. The property is grocery-anchored and was 98 percent occupied at the time of sale. The second property, Specialty Shops SouthPark in Charlotte, was purchased in partnership with Hill Partners, which has managed and leased the property since 2014. Specialty Shops features 65,362 square feet and was fully leased at the time of sale.

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Shoppes at Jefferson Valley Mall
Investment salesNew YorkNews

IPA Arranges Sale of 153,151-Square-Foot Retail Building in Yorktown Heights, New York

by Hayden Spiess

Yorktown Heights, N.Y. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of The Shoppes at Jefferson Valley Mall, a 153,151-square-foot property located in Yorktown Heights. The four-suite building was 24.2 percent occupied at the time of sale. Built in 1983, The Shoppes at Jefferson Valley Mall is situated on 12 acres adjacent to Jefferson Valley Mall. 24 Hour Fitness is a tenant at the property, and Funtime Entertainment has a license to use 2,500 square feet of space within the building for storage. Joseph French, Jr. …

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AlabamaCaliforniaFloridaGeorgiaIllinoisMississippiNet leaseNew YorkNewsNorth CarolinaTexasVirginiaWashington

Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio

by Hayden Spiess

Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.

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Investment salesNewsPennsylvania

Marcus & Millichap Brokers $4.7 Million Sale of Shopping Center in Harrisburg, Pennsylvania

by Hayden Spiess

Harrisburg, Pa. — Marcus & Millichap has brokered the $4.7 million sale of Brandywine Plaza, a 44,241-square-foot shopping center located in Harrisburg. The property was fully leased to 21 tenants at the time of sale. Craig Dunkle and Mher Vartanian of Marcus & Millichap represented the seller. Dunkle and Vartanian also secured and represented the buyer, an undisclosed developer.

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ArkansasInvestment salesNews

Timber Purchases 70,000-Square-Foot Retail Center in Southern Arkansas

by Hayden Spiess

Monticello, Ark. — Timber Development Corp. has purchased North Park Village Shopping Center, a 70,000-square-foot retail center located in Monticello. Todd Rice of Colliers brokered the $4.6 million transaction. The property, which is shadow anchored by Walmart Supercenter, was 75 percent leased at the time of sale.

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Fast5Xpress-Ontario-Calif
CaliforniaInvestment salesNet leaseNews

Hanley Arranges Sale of Single-Tenant Building in Ontario, California

by Hayden Spiess

Ontario, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant property located in Ontario, California. Bill Asher and Jeff Lefko of Hanley represented the seller, Evergreen Development, in the $3.5 million transaction. Fast5Xpress Car Wash occupies the property, which comprises a 4,446-square-foot building situated on 1.2 acres, on a 35-year, absolute triple-net ground lease.

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Company newsIllinoisNews

Walmart to Close Four Stores in Chicago

by Hayden Spiess

Chicago — Walmart has announced that it will close four stores in Chicago. The company cited a lack of profitability as the reason for the closures, reporting that the locations collectively lose tens of millions of dollars a year. Walmart recently invested $70 million to upgrade the stores and built two new Walmart Health facilities and a Walmart Academy training center. “It was hoped that these investments would help improve our stores’ performance,” said the company. “Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are …

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CaliforniaDevelopmentMixed-useNews

LRE & Cos. Plans 10-Acre University Square Mixed-Use Development in Rocklin, California

by Hayden Spiess

Rocklin, Calif. — LRE & Cos. has unveiled plans for University Square, a 10-acre mixed-use development located at the intersection of Sunset Boulevard and University Avenue in Rocklin, a northeast suburb of Sacramento. The project is scheduled for completion by the end of 2025. University Square will feature more than 20,000 square feet of retail space; 5,000 square feet of space for fast food restaurants with drive-thrus; a 123-room Hilton Garden Inn hotel; a 10,000 square-foot daycare center; a 3,700-square-foot convenience store; and a car wash. The site is adjacent …

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Investment salesNewsTennessee

Edwards, Core Acquire 514,000-Square-Foot Retail Center in Metro Memphis

by Hayden Spiess

Collierville, Tenn. —Edwards Realty Co. and Core Acquisitions have acquired The Shops at Carriage Crossing, a 514,000-square-foot retail center located in Collierville, roughly 30 miles outside Memphis. The joint venture purchased the property for $25 million from an undisclosed seller. Jones Aur Commercial Real Estate will lead leasing efforts at the property.

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