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Hayden Spiess

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LeasingNew JerseyNews

Three New Tenants Sign Leases at Cherry Hill Mall in New Jersey

by Hayden Spiess

Cherry Hill, N.J. — Three new tenants have signed leases at Cherry Hill Mall, a 1.4 million-square-foot shopping center located in Cherry Hill in the greater Philadelphia area. Lacoste and Columbia Sportswear are scheduled to open at the property later this year, with Mango anticipated to open in summer 2025. PREIT owns and manages the center. Other tenants opening soon at the property include Alo Yoga, Kendra Scott, Dry Goods, Rowan, Signature Workspace, Kooma Asian Fusion and Sushi Bar and Inspiration Co.

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FloridaGrocery-anchoredInvestment salesNews

Colliers Brokers $33.1 Million Sale of Palm Aire Marketplace in Pompano Beach, Florida

by Hayden Spiess

Pompano Beach, Fla. — Colliers has brokered the $33.1 million sale of Palm Aire Marketplace, a shopping center located in Pompano Beach. Presidente Supermarket and dd’s DISCOUNTS anchor the property, which totals 143,219 square feet. Other tenants at Palm Aire Marketplace include T-Mobile, Chase Bank and McDonald’s. Harry Blyden, Bastian Schauer, Ruben Suarez, Billy Weiser and Ariel Davis of Colliers represented the seller, Pompano Realty USA, in the transaction. Longpoint Realty Partners acquired the asset, which is situated across from The Pomp, a $2 billion mixed-use project currently underway at the …

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Investment salesNewsVirginia

CRC Acquires 126,304-Square-Foot Retail Center in Winchester, Virginia

by Hayden Spiess

Winchester, Va. — Continental Realty Corp. (CRC) has acquired Creekside Station, a 126,304-square-foot retail center in Winchester. Creekside Properties sold the center for $19.5 million. CRC, which was self-represented in the transaction, purchased the property with funds from the Continental Realty Opportunistic Retail Fund I LP (CRORF), marking the second acquisition in the state this year for the buyer. Built in 2003 and situated within Creekside Town Center, Creekside Station was 95 percent leased at the time of sale. Tenants at the property include Chico’s, J.Jill, Jos. A Bank, IJ Canns …

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CaliforniaInvestment salesNews

Hanley Brokers $5.8 Million Sale of Retail Pad Property in Riverside, California

by Hayden Spiess

Riverside, Calif. — Hanley Investment Real Estate Advisors has brokered the $5.8 million sale of a 6,300-square-foot retail pad property located in Riverside. Chipotle Mexican Grill anchors the three-tenant building, which was built in 2020 and is situated within Veteran’s Plaza. MA Dental is also open at the property, with BHC Chicken scheduled to open in October. Eric Wohl and CJ Kiehler of Hanley represented the developer and seller, Greens Development Inc., in the transaction. Justin Altemus of The Altemus Co. represented the buyer, a 1031-exchange investor. 

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Company newsFloridaNewsRestaurants

Smalls Sliders Signs Four-Unit Franchise Deal in Florida

by Hayden Spiess

Atlanta — Atlanta-based fast-casual concept Smalls Sliders has signed a franchise agreement to open four new units in Florida. DPC Smalls Investments will own and operate the restaurants, which will be located in the Destin and Panama City Beach areas. The first of the units, which are dubbed “Cans,” is scheduled to open in 2025. In April, the brand announced a 12-restaurant franchise agreement for Tallahassee and Jacksonville.

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GeorgiaLeasingNews

Four New Tenants Open at The Avenue Peachtree City in Metro Atlanta

by Hayden Spiess

Peachtree City, Ga. —  Four new tenants have opened at The Avenue Peachtree City, a shopping center located in Peachtree City, roughly 30 miles outside Atlanta. Arhaus Studio, Kendra Scott, Motivate Studios and 9292 Korean BBQ now occupy 7,085; 2,000; 2,000; and 8,015 square feet at the property, respectively. American Eagle Outfitters also recently completed a renovation and has reopened at the center. JLL manages the property. 

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FeaturesFrom The Magazine

Anything But Mid

by Hayden Spiess

Brokers, owners and developers active in the Mid-Atlantic’s retail sector describe a market buoyed by a strong consumer base, though the landscape varies somewhat across urban and suburban areas.  Even as the Mid-Atlantic contends with higher interest rates and a drop in daytime traffic within urban centers as a result of new work-from-home practices, retail in the region continues to shine. According to sources interviewed for this article, the market — despite these economic headwinds and uncertainties — is thriving and as strong as ever. As Richard Lake of Roadside …

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DevelopmentIllinoisNews

Brixmor Begins $53 Million Redevelopment of Westridge Court Shopping Center in Chicago Suburb

by Hayden Spiess

Naperville, Ill. — Brixmor Property Group (NYSE: BRX) has begun a $53 million redevelopment and reconfiguration of Westridge Court, a shopping center located in the Chicago suburb of Naperville. Plans call for the addition of a new restaurant and entertainment district, to be branded Block 59. The 91,000-square-foot project will include the construction of multiple outparcels, which will be occupied by tenants including The Cheesecake Factory, Yard House, Ruth’s Chris Steak House, Piccolo Buco by Cooper’s Hawk, Shake Shack, Stan’s Donuts, First Watch, Fresh Fin, Crisp & Green and Velvet Taco. …

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Grocery-anchoredInvestment salesNew YorkNews

Legacy Arranges Sale of 99,096-Square-Foot Shopping Center in Spencerport, New York

by Hayden Spiess

Spencerport, N.Y. — Legacy Realty Group Advisors has arranged the sale of Spencerport Village Plaza, a 99,096-square-foot shopping center located in Spencerport. Tops Friendly Markets anchors the property. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction. 

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Investment salesNewsTennessee

Marcus & Millichap Brokers Sale of 40,085-Square-Foot Retail Center in Eastern Tennessee

by Hayden Spiess

Newport, Tenn. — Marcus & Millichap has brokered the sale of Five Rivers Plaza, a 40,085-square-foot retail center located in Newport, roughly 50 miles east of Knoxville. Tenants at the property, which was originally built in 1983 and renovated in 2023, include Family Dollar and Dollar Tree. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller, a local developer, in the transaction. A Nashville, Tennessee-based 1031 investor acquired the property for an undisclosed price. 

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