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Hayden Spiess

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ArizonaDevelopmentMixed-useNews

Okland Capital, San Tan Development Break Ground on $100 Million Northside at SanTan Village Mixed-Use Project Near Phoenix 

by Hayden Spiess

Gilbert, Ariz. — Okland Capital and San Tan Development Group have broken ground on Phase I of Northside at SanTan Village, a $100 million mixed-use development in the Phoenix suburb of Gilbert. The first phase will feature 37,245 square feet of retail and restaurant space across six buildings, with completion scheduled for mid-2025.  Upon full build-out, Northside at SanTan Village will span 20 acres and include a 134-key hotel, in addition to retail, restaurant and community green space.  The project team includes general contractor Okland Construction and architect Aline Architecture Concepts. …

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Company newsFloridaNewsTexas

Conn’s HomePlus Files for Chapter 11 Bankruptcy, to Close 70-Plus Stores According to Reports

by Hayden Spiess

The Woodlands, Texas — Conn’s HomePlus, a Texas-based home furnishing retailer, has filed for Chapter 11 bankruptcy and will close at least 70 stores nationwide, according to reports from multiple media outlets including CNN and USA Today. The latter publication reports that Conn’s filed for bankruptcy protection this past Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas amid slumping revenue reports. The impacted stores are located throughout 13 states, according to CNN. Both news organizations report that the state with the highest concentration of closures is Florida (18), followed by Texas …

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Grocery-anchoredInvestment salesMissouriNews

Cohen & Steers, Phillips Edison Acquire 121,000-Square-Foot Retail Center in Missouri

by Hayden Spiess

Des Peres, Mo. — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Des Peres Corners, a retail center located in Des Peres, in partnership with Phillips Edison & Co. (PECO) The acquisition was made through a programmatic joint venture that is 80 percent owned by CNSREIT and 20 percent owned by PECO. A 74,000-square-foot Schnucks anchors the property, which was built in 2009 and totals 121,000 square feet. The center was 90 percent occupied at the time of sale. 

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FinanceInvestment salesMixed-useNewsTexas

JLL Secures Acquisition Financing for 43,811-Square-Foot Mixed-Use Property in Austin, Texas

by Hayden Spiess

Austin, Texas — JLL Capital Markets has secured acquisition financing for South Bend Center, a mixed-use property located in Austin. Built in 1984, the property totals 43,811 square feet across three buildings, with retail, flex warehouse, restaurant and medical office space. CW Sheehan and Peyton Ackerman of JLL arranged the financing on behalf of the borrower, Duncan Park Capital. 

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LeasingNew YorkNews

Wetzel’s Pretzels Opens Kiosk in Macy’s Queens Center in New York City

by Hayden Spiess

New York City — Fast-casual pretzel brand Wetzel’s Pretzels has opened a new kiosk within Macy’s at the Queens Center Mall in New York City. Wetzel’s Pretzels occupies 480 square feet within the store, including a baking kiosk and dry storage space. The unit is owned and operated by franchisee Ricky Alam, whose portfolio includes nine Wetzel’s locations in Southern California and four in New York and New Jersey. Wetzel’s celebrated its 400-unit milestone earlier this year. 

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CaliforniaInvestment salesMixed-useNews

Tinder Founder Justin Mateen Leads $211 Million Acquisition of Wilshire Rodeo Plaza Office/Retail Property in Beverly Hills

by Hayden Spiess

Beverly Hills, Calif. — Tinder founder Justin Mateen, his brother Tyler Mateen and their brother-in-law Pouya Abdi have acquired Wilshire Rodeo Plaza, a Class A office and retail complex located at the corner of Rodeo Drive and Wilshire Boulevard in the posh Los Angeles suburb of Beverly Hills. Nuveen sold the asset for $211 million. The 300,000-square-foot property includes three six-story office and retail buildings along Wilshire Boulevard and a three-story office building along Rodeo Drive.  The buyers plan to rebrand the property as One Rodeo, as well as upgrade and …

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Investment salesNewsTennessee

TSCG Brokers Sale of 98,466-Square-Foot Retail Center in Metro Memphis

by Hayden Spiess

Cordova, Tenn. — The Shopping Center Group (TSCG) has brokered the sale of Market at Cordova Shopping Center, a 98,466-square-foot retail center located in Cordova, roughly 20 miles east of Memphis. N&L Holdings acquired the property for an undisclosed price. Anchor tenant The Life Church will vacate the center, opening up space that the new owner plans to populate with an Asian supermarket, food hall and community gathering spot. Dubbed Grand Super Market, the gathering spot will occupy the 55,000-square-foot anchor space at the property. John Reed and Hurston Reed of …

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DevelopmentNewsTexas

Howard Hughes Holdings Begins Renovation of 90,000-Square-Foot Retail Property in Metro Houston

by Hayden Spiess

The Woodlands, Texas — Howard Hughes Holdings has begun the renovation of Grogan’s Mill Village Center, a 90,000-square-foot retail property located north of Houston in The Woodlands. Renovation plans include the addition of a new public gathering hub with a library that will feature multimedia rooms and a theater-style classroom, as well as a community center and 32,000 square feet of modern retail space. Current and future tenants at the property, which was originally built in 1974, include Brother’s Pizza, Ome Calli Café, Safeway Driving, The UPS Store, Woodforest National Bank, …

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DevelopmentEntertainmentIllinoisMixed-useNews

Bulls, Blackhawks Owners Unveil Plans for $7 Billion Transformation of Chicago Athletic District

by Hayden Spiess

Chicago — The owners of the NBA’s Chicago Bulls and NHL’s Chicago Blackhawks have unveiled plans for the transformation of the area around their shared venue, the United Center. The initiative is known as The 1901 Project, and development costs are estimated at $7 billion. Michael Reinsdorf, CEO of the Bulls and son of owner Jerry Reinsdorf, formally announced the project on Tuesday, July 23. The elder Reinsdorf, along with Blackhawks owner Danny Wirtz, co-owns the United Center, where both teams have played since 1994. The name is a reference to …

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DevelopmentMaineMixed-useNews

Crossroads Holdings Underway on $300 Million Mixed-Use Project Near Portland, Maine

by Hayden Spiess

Scarborough, Maine — Developer Crossroads Holdings LLC is underway on the development of Town Center, a $300 mixed-use project located in Scarborough, roughly 10 miles southwest of Portland. Situated within The Downs — a larger, 577-acre redevelopment of a former horseracing complex — the project will include 320,000 square feet of retail space, 60,000 square feet of medical office space, 240 residential units and a boutique hotel, as well as various open green spaces. Construction began last fall. Wilder Cos. has partnered with Crossroads to manage marketing and leasing initiatives for the …

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