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Hayden Spiess

Water-Street-Tampa
DevelopmentEntertainmentFloridaMixed-useNews

Strategic Property Partners Unveils Next Phase of $3 Billion Water Street Tampa Development

by Hayden Spiess

Tampa, Fla. — Strategic Property Partners LLC has unveiled the next phase of Water Street Tampa, the company’s $3 billion mixed-use neighborhood underway in downtown Tampa. The next phase will comprise three separate buildings with residential, office and hospitality/entertainment space.   The third building will feature a select-service hotel, parking garage and entertainment uses, including food-and-beverage options and a live music venue. The office complex will also feature ground-floor retail space.  The road and utility infrastructure work for these additions is currently underway and expected to be complete in spring 2025. Last …

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Sumter-Square_Piggly-Wiggly
Grocery-anchoredInvestment salesNewsSouth Carolina

First National Realty Acquires 66,765-Square-Foot Sumter Square Shopping Center in South Carolina

by Hayden Spiess

Sumter, S.C. — First National Realty Partners has acquired Sumter Square, a 66,765-square-foot shopping center in Sumter, roughly 45 miles east of Columbia. A 39,365-square-foot Piggly Wiggly grocery store anchors the center. The acquisition of Sumter Square marks First National Realty’s entry into South Carolina. David Robinov of Ackman-Ziff represented the undisclosed seller in the transaction. 

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The-Abbey-West-Hollywood-CA
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $27 Million Sale of Two Retail Properties in West Hollywood, California

by Hayden Spiess

West Hollywood, Calif. — Marcus & Millichap has arranged the $27 million sale of The Abbey Food & Bar and The Chapel at The Abbey, two retail properties located in West Hollywood. Tristan Schukraft acquired the properties, which are situated on neighboring parcels, from David Cooley. Brandon Michaels and Matthew Luchs of Marcus & Millichap represented the seller and procured the buyer in the deal. The previous ownership transformed a small coffee shop into The Abbey Food & Bar — now a well-known bar, restaurant and event venue — and opened …

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Live-Casino-Hotel-Virginia-1
DevelopmentEntertainmentNewsVirginia

Bruce Smith Enterprise, Cordish Cos. Selected to Develop $1.4 Billion Gaming and Entertainment District in Petersburg, Virginia

by Hayden Spiess

Petersburg, Va. — The City of Petersburg has selected Bruce Smith Enterprise and The Cordish Cos. to co-develop a $1.4 billion gaming and entertainment district in Petersburg, roughly 24 miles south of Richmond. The Petersburg City Council unanimously approved the joint venture partnership, which responded to a request for proposal (RFP) issued by the city, as the preferred development partner on the mixed-use project. Upon completion, Live! Casino & Hotel Virginia will comprise more than 400,000 square feet of gaming, hospitality and dining space, as well as 35,000 square feet of …

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Newton-Springs-Development-Site_Lexington-Ky
DevelopmentGrocery-anchoredKentuckyMixed-useNews

RD Property Group to Develop 122,000-Square-Foot Kroger Marketplace at Newton Springs in Lexington, Kentucky

by Hayden Spiess

Lexington, Ky. — RD Property Group is underway on the development of a 34-acre mixed-use development located in Lexington. The City of Lexington recently certified plans for the construction of a 122,000-square-foot Kroger Marketplace at the project, dubbed Newton Springs. Plans for the store include a drive-thru pharmacy, adjoining wine and spirits shop and 476 parking spaces. Other tenants at the property — which features two four-story buildings, a restaurant space and three additional buildings — include Estepp’s Shell, Jimmy Johns, Hot Head Burritos, The UPS Store, Tire Discounters and Starbucks Coffee.

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Canyon-Center_Sandy-Utah
Investment salesNewsUtah

SSG, Hanley Broker Sale of 48,537-Square-Foot Shopping Center in Metro Salt Lake City

by Hayden Spiess

Sandy, Utah — SSG Realty Partners and Hanley Investment Group Real Estate Advisors have brokered the sale of Canyon Center, a 48,537-square-foot shopping center located in Sandy, a suburb of Salt Lake City. Tenants at the property, which was originally developed in 1987 and expanded in 1998, include Wells Fargo, Domino’s Pizza, F45 Training, Club Pilates, Fantastic Sam’s, Palm Beach Tan, Nautical Bowls, Ski ‘N See, Vessel Kitchen, Kibbles & Cuts, Chocolate Covered Wagon, Salt Cycles Bike Shop, Pella Nails, Brightside Chiropractic, Tiger Rock Martial Arts and Rainbow Sakura Massage. The …

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Oakland-Square-Burlington
LeasingMichiganNews

Burlington to Open at 220,000-Square-Foot Retail Center in Troy, Michigan

by Hayden Spiess

Troy, Mich. — Burlington Stores Inc. has signed a lease to open a new store at Oakland Square, a 220,000-square-foot retail center located in Troy. Continental Realty Corp. (CRC) is the landlord of the property. Other tenants at the center, which is now 83 percent occupied, include HomeGoods, Five Below, Kohl’s and Ulta Beauty. Rachel Lee of CRC and Daniel Stern, Jared Gell, Eric Unatin and Eric Birnholtz of Mid-America Real Estate represented the landlord in the lease negotiations. Bradley Gershman of Gershman Partners and Andrew Luckoff of Landmark Commercial Real …

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Tropical-Smoothie-Cafe
Company newsGeorgiaNew YorkNewsRestaurants

Blackstone Agrees to Acquire Tropical Smoothie Cafe for Nearly $2 Billion

by Hayden Spiess

Atlanta and New York City — Blackstone has entered into a definitive merger agreement to acquire Tropical Smoothie Cafe, a franchiser of fast-casual restaurants, from Levine Leichtman Capital Partners. The deal values the Atlanta-based smoothie chain at around $2 billion, including debt, according to The Wall Street Journal. Tropical Smoothie Cafe began as a single location in Destin, Florida, in 1997. The chain has grown to more than 1,400 locations in 44 states today. The company opened more than 175 locations in 2023, 70 percent of which were opened by existing franchisees. …

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Jones-Bridge-Triangle_Johns-Creek-Ga
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $8.4 Million Sale of Retail Center in Metro Atlanta

by Hayden Spiess

Johns Creek, Ga. — Marcus & Millichap has brokered the $8.4 million sale of Jones Bridge Triangle, a retail center located in Johns Creek, roughly 30 miles outside Atlanta. The unanchored property, which totals 33,133 square feet, was fully leased to 15 tenants at the time of sale. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor. 

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Topgolf-Venue
CaliforniaEntertainmentNews

Topgolf to Open 70,000-Square-Foot Venue Near Los Angeles

by Hayden Spiess

Montebello, Calif. — Topgolf will open a new, 70,000-square-foot venue in Montebello, approximately 10 miles outside downtown Los Angeles. Upon completion, the facility will feature 102 outdoor climate-controlled hitting bays across three levels, as well as a full-service restaurant, 200 televisions, a 28-foot video wall, outdoor patio, rooftop terrace and private event rooms. Scheduled to open in May, this will mark the third Topgolf venue to be located in the Los Angeles metro. 

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