Guilford, Conn. — Zelco Properties, the development and acquisition arm of Charter Realty, and Haverford Retail Partners have acquired Guilford Commons, a 123,000-square-foot retail center located in Guilford. Tenants at the property, which was originally opened in 2015, include The Fresh Market, Michaels, DSW, Ulta Beauty, Panera Bread, MOOYAH, Spavia, Pure Barre and Ivy Rehab. T.J. Maxx and Old Navy also recently signed leases at the center. Charter Realty will manage leasing at property.
Coconut Creek, Fla. — Four new tenants have signed leases at Promenade at Coconut Creek, a shopping center located in Coconut Creek. Fragrance store Orientica is now open at the property, within a 1,045-square-foot space. Karma Bath & Body Co. is scheduled to open a 1,868-square-foot store later this month, and My Phone Lab and Happy Monkey will occupy 1,801 and 1,000 square feet, respectively, beginning in October. Avison Young manages and leases Promenade at Coconut Creek.
Ann Arbor, Mich. — A joint venture between Hines and Simon Property Group (NYSE: SPG) has broken ground on a mixed-use development at Briarwood Mall, a regional mall in Ann Arbor. Owned by Simon, Briarwood Mall opened its doors in October 1973. The new mixed-use component of the property, which sits about 2.5 miles south of the University of Michigan, will include a four-story luxury apartment building, Harvest Market grocery store and additional retail space surrounding an activated outdoor plaza. The partnership has broken ground on the multifamily component of the …
Philadelphia — Grocery chain GIANT will open a new, 50,000-square-foot store at Andorra Shopping Center in Philadelphia. Construction of the space is scheduled to begin in 2025. Federal Realty Investment Trust is the landlord and also plans to reposition 30,000 square feet of existing retail space, with the two projects representing a combined investment of $25 million. Repositioning plans include the addition of landscaped plazas, outdoor dining and curbside pick-up spaces and expanded sidewalks.
Fort Worth, Texas — Cheeseburger slider chain Smalls Sliders has signed a new, six-unit franchise deal in the Fort Worth metro. Franchisee Brett Stewart will own and operate the restaurants, which are dubbed “Cans.” The first of the new units is scheduled to open in 2025. Locations will include Fort Worth, White Settlement, Weatherford, Granbury, Cleburne and Stephenville. Smalls Sliders was founded in 2019 and now has a portfolio of more than 300 restaurants currently open or under development.
Cordova, Tenn. — Bojangles has broken ground on a new restaurant property situated on an outparcel within Market at Cordova Shopping Center in Cordova. Completion of the development is scheduled for early 2025. John Reed and Hurston Reed of The Shopping Center Group (TSCG) negotiated the lease between Bojangles and the outparcel owner, The Life Church. A 55,000-square-foot Grand Super Market anchors Market at Cordova Shopping Center, which N&L Holdings acquired this past July.
Charlotte, N.C. — CenterSquare has acquired Olde Lancaster Town Center, a 43,044-square-foot retail center located in Charlotte. Tenants at the property, which was fully leased at the time of sale, include My Salon Suites, Aqua Tots, Lee’s Hoagies, Chesterbrook Academy and Eye Level Learning. The new ownership plans to implement improvements at the property including new paint, awnings, LED lights, string lights, patio seating, roofs, updated landscaping and signage enhancements.
Columbus, Ohio — Big Lots has filed for voluntary Chapter 11 bankruptcy protection and has entered into a sale agreement with Los Angeles-based private equity firm Nexus Capital Management, a deal that would that the Ohio-based discount retailer private. Under the terms of the agreement, Nexus will serve as the “stalking horse bidder” (the approved investor that sets the low-end bar for a bankrupt company) in a court-supervised auction to acquire “substantially all” of Big Lots’ physical assets and ongoing business operations. Big Lots expects to keep the majority of its …
Brookhaven, Ga. — JLL has brokered the sale of Brookhaven Station, a 44,966-square-foot retail center located in the Atlanta suburb of Brookhaven. SITE Centers acquired the property from Hendon Properties for an undisclosed price. Originally built in 1985, the center was renovated between 2022 and 2023. Tenants at the property include Chick-fil-A, Fox Bros. Bar-B-Q, Chop’t and Mellow Mushroom. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller in the transaction.
San Antonio, Texas — Ziff Real Estate Partners (ZRP) has sold Castle Hills Market, a 97,682-square-foot retail center located in San Antonio. A Dallas-based private buyer acquired the property for an undisclosed price. John Indelli, Whitney Snell, Chris Gerard and Ryan West of JLL brokered the transaction. ZRP purchased the center in 2020 and has implemented physical enhancements and tenancy upgrades at the property.