New York City — Brooklyn Fare Kitchen & Market has opened a 25,500-square-foot store within One Manhattan Square, an 800-foot-high residential tower located in Manhattan in New York City. This marks the largest New York City store to date for the grocer, which offers prepared foods, fresh bread, sushi, a deli, produce, frozen foods and organic products. The store also features a coffee bar. Other Brooklyn Fare locations in the city include Brooklyn, The West Village and Lincoln Square.
Chicago — Retail brokerage firms Segovia Partners and Braden Real Estate have announced plans to merge. Marc Offit heads Braden Real Estate, which features offices in Chicago and Florida. Jennifer Frank and Jack Breard lead Dallas-based Segovia Partners. Offit will remain managing broker for the Illinois and Florida brokerage teams, with Courtney Waldon appointed president of the Chicago office. Segovia plans to add a senior team member to run the West Coast of Florida office. Additionally, Tim Gearhart will join the Segovia Partners Chicago office as a principal, focusing on national …
Center Valley, Pa. — Specialty sports retailer Rally House has signed a 5,903-square-foot lease at Promenade Saucon Valley, a shopping center located in Center Valley. Scheduled to open this summer, the store will be located between Barnes & Noble and J.Crew Factory. Other recently added tenants at the property include Five Guys Burgers & Fries, The Great Greek Mediterranean Grill, Club Champion, Fulton Bank, FD Market, Turning Point, Handmade Mystic and Lashses by Gab.
Eatontown, N.J. — Kushner has today broken ground on the $500 million mixed-use redevelopment of Monmouth Mall in Eatontown, roughly 50 miles outside New York City. Upon completion, the property will comprise 900,000 square feet of retail and restaurant space. Whole Foods Market will anchor the development, which will also feature a public green, pedestrian pathways, 1,000 residential units and medical office space. Construction will include the demolition of 600,000 square feet of retail space at the site.
Atlanta — Atlanta-based fast-casual brand Chick-fil-A will open four new restaurants in metro Miami. Chick-fil-A has broken ground on the first of the units, which will comprise 4,800 square feet in Cutler Bay. Dustin Griffiths of Chick-fil-A and David Emihovich of Katz & Associates represented Chick-fil-A in the lease negotiations. Michael Berkowitz of Berkowitz Development Group and Douglas Landsea of Landsea Development are the landlords. Development is scheduled to begin on three additional restaurants — which will be located in Miami Shores, Pinecrest and Princeton — later this year.
Machesney Park, Ill. — Marcus & Millichap has brokered the $4.2 million sale of a single-tenant retail property located in Machesney Park. Walgreens occupies the building. Constructed in 2008, the property totals 14,490 square feet. Joe Sparano, Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the seller, a limited liability company. Steven Weinstock of Marcus & Millichap assisted in closing the transaction. A local 1031-exchange buyer acquired the property.
Watertown, Mass. — Seven new tenants have signed leases at Arsenal Yards, a mixed-use development in Watertown, roughly 10 miles outside Boston. J.Crew Factory and Jersey Mike’s Subs are now open at the property. Additionally, Butterbird, Splash and Dash, Marvelous Cuts, Medium Rare and Squeeze Massage are scheduled to open later this year. Arsenal Yards, which is developed by Boylston Properties and Wilder Cos., totals more than 1 million square feet and features life sciences, residential and hospitality uses, in addition to retail and restaurant space.
Queen Creek, Ariz. — Nordstrom Rack will open a 28,025-square-foot store at Queen Creek Marketplace, a retail center located in Queen Creek, approximately 40 miles southeast of Phoenix. Other tenants at the property, which totals 900,000 square feet, include Target, Kohls, Harkins Theatres, Trader Joe’s, Sephora, Handel’s Ice Cream, Reformed Pilates, Nothing Bundt Cakes and Little Flippers Swim School. Vestar is the developer, landlord and manager of Queen Creek Martketplace.
From pickleball to gaming to live music, landlords create hot new combinations that appeal to a variety of consumers and boost sales. Sports and entertainment destinations offer several benefits to retail properties — they boost foot traffic, encourage consumers to linger, complement traditional retail and provide opportunities for refilling vacancies. Pickleball, gaming and music venues are some of the most prolific concepts in today’s experiential marketplace. “These users draw consumers into a development,” says Tim Katt, managing director of Transwestern Real Estate’s sports and entertainment advisory group. “Their ability to …
Middletown, Del. — Blenheim Group has broken ground on Bayberry Town Center, a 280,000-square-foot mixed-use project in Middletown. A 64,000-square-foot Weis Markets with a fuel facility will anchor the property. Other tenants at the development will include a bank, pet store, spa and nail salon. Construction on Weis Markets is scheduled to begin this fall, with the opening of Weis and several other tenants planned for 2025. Upon completion, the project will also feature office space, two green spaces, 145 townhomes and internal street and trail connectivity. Jim Tancredi of LMT …