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Hayden Spiess

The Meridian
DevelopmentGrocery-anchoredMixed-useNewsPennsylvania

Greystar, ECHO Realty Break Ground on Multifamily, Retail Development in Pittsburgh

by Hayden Spiess

Pittsburgh — A joint venture between Greystar and ECHO Realty has broken ground on Ophelia and The Meridian, a multifamily and retail project located at the intersection of Penn and Shady avenues in Pittsburgh.  The development will include Ophelia, a 231-unit multifamily project by Greystar; The Meridian, a 44,000-square-foot retail development spearheaded by ECHO Realty; and parking for both retail and residential uses. Ophelia will offer units in studio, one- and two-bedroom configurations, 35 of which will be subject to income restrictions under the city’s affordable housing program. Shared amenities will …

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DevelopmentNewsRestaurantsTexas

MLSA Ventures Announces Plans for 49,993-Square-Foot Food and Beverage Redevelopment of La Villita Assembly Hall in San Antonio 

by Hayden Spiess

San Antonio — MLSA Ventures has announced plans to redevelop the historic La Villita Assembly Hall in San Antonio into a food and beverage project featuring 49,993 square feet of leasable space. Renovations to the building, which was originally constructed in 1958, are scheduled to begin in the second quarter of 2025. In addition to space for food and beverage concepts, the redevelopment will include public patios and a large outdoor bar with a beer garden. Completion is expected for 2027. The project team includes Ford, Powell and Carson as the …

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Trails-620_Austin-Texas
Investment salesNewsTexas

Partners Capital Sells 69,037-Square-Foot Retail Property in Austin, Texas

by Hayden Spiess

Austin, Texas — Partners Capital has sold Trails at 620, a retail property totaling 69,037 square feet across seven buildings in Austin. Shea Petrick and Chris Gerard of JLL represented Partners, which acquired the property in October 2020,  in the disposition. Trails at 620 was the last property remaining in Partners’ Fund III. 

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Whole-Foods-Market-Daily-Shop_New-York-City
Company newsNew YorkNews

Whole Foods Market Opens First Small-Format Store in New York City

by Hayden Spiess

New York City — Whole Foods Market has opened the first of its new small-format stores in New York City. Situated within the Upper East Side, the Whole Foods Market Daily Shop comprises 9,101 square feet. In addition to produce, meat, seafood and other groceries, the store features a Juice & Java venue, prepared foods and single-serve hot bowls and meals. Two additional small-format stores are scheduled to open within the city as well, in the East Village StuyTown development and Hell’s Kitchen.  

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CaliforniaCompany newsNews

Daiso to Open Two New Stores in California

by Hayden Spiess

Cucamonga and Gilroy, Calif. — Japanese retail chain Daiso has announced that it will open two new stores in California this month. Located in Cucamonga and Gilroy, the stores total 15,343 and 10,004 square feet, respectively. Daiso — which offers products including Japanese inspired home décor, stationery and food — first entered the U.S. market in 2005. 

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ArizonaDevelopmentMixed-useNews

Development Team Begins Demolition Process for $850 Million Metrocenter Mall Redevelopment in Phoenix

by Hayden Spiess

Phoenix — Developers Concord Wilshire Capital and TLG Investment Partners have begun the abatement and demolition of the Metrocenter Mall in Phoenix, beginning the $850 million redevelopment of the property into a mixed-use community. The Metrocenter Mall opened its doors in 1973 and closed in 2020. The two-story, 140,000-square-foot mall is situated on 312 acres on the city’s northwest side. Plans for the redevelopment include more than 2,600 apartment units, as well as 100,000 square feet of retail space. The demolition process has commenced with the destruction of the former Dillard’s …

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DevelopmentMixed-useNewsOhio

AV Cincinnati Acquisition LLC to Redevelop 76-Acre Tri-County Mall Site

by Hayden Spiess

Springdale, Ohio — An entity doing business as AV Cincinnati Acquisition LLC has announced plans for the redevelopment of the 76-acre former Tri-County Mall site in Springdale, approximately 20 miles outside Cincinnati. The entity, which acquired the property in July, will act as the master developer of the project, dubbed City Center Springdale. Upon completion, the development will feature 600,000 square feet of retail, entertainment and restaurant space; 750,000 square feet of office space; 2,600 multifamily residential units; 200,000 square feet of fitness facilities; and 400 rooms of hospitality space. 

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DevelopmentGeorgiaInvestment salesNews

Gwinnett County Acquires 23-Acre Macy’s Site at Gwinnett Place Mall in Metro Atlanta

by Hayden Spiess

Duluth, Ga. — Gwinnett County’s Urban Redevelopment Agency has acquired Macy’s department and furniture stores totaling 293,059 square feet at Gwinnett Place Mall, a beleaguered regional shopping mall in the northeast Atlanta suburb of Duluth. With this 23-acre acquisition, the county — which initially purchased a 39-acre portion of the Gwinnett Place Mall site in 2021 — will own a total 76 acres at the site. Gwinnett County’s Urban Redevelopment Agency purchased the two Macy’s stores in a $16.5 million sale-leaseback transaction, and Macy’s will continue to operate at the property …

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FinanceNewsOhio

BWE Secures $31.8 Million Refinancing for Shopping Center in Fairlawn, Ohio

by Hayden Spiess

Fairlawn, Ohio — BWE has secured a $31.8 million loan for the refinancing of Market Square at Montrose, a shopping center located in Fairlawn, roughly 10 miles outside Akron. Home Depot anchors the property, which totals 506,870 square feet and was 88 percent leased at the time of sale. Other tenants at the center include Dick’s Sporting Goods, Staples, Cost Plus World Market, Steak ‘n Shake and Golf Galaxy. Tesla also recently signed a lease at the property. Brian Bruening of BWE arranged the floating-rate loan on behalf of the borrower. 

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Grocery-anchoredInvestment salesIowaNews

Cleeman Realty Group Arranges Sale of 50,000-Square-Foot Shopping Center in Iowa

by Hayden Spiess

Shenandoah, Iowa — Cleeman Realty Group has arranged the sale of Orchard Corners, a 50,000-square-foot shopping center located in Shenandoah. Hy-Vee anchors the property, which was 87 percent occupied at the time of sale. Other tenants at the center include Scooter’s Coffee and McDonald’s. Jeremy Scheer of Cleeman represented both the buyer and seller in the transaction. 

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