Monroe, La. — Marcus & Millichap has brokered the $10.5 million sale of The Plaza One Shopping Center, a retail center located in Monroe. Super 1 Foods anchors the property, which totals 96,765 square feet. The center was fully leased at the time of sale. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller, a Texas-based private investor, in the transaction. Steve Greer assisted in closing the sale as the Louisiana broker of record.
PERRIS, CALIF. — An Orange County, Calif.-based private partnership has completed the disposition of a restaurant property located at 2560 N. Perris Blvd. in Perris. A Riverside County, Calif.-based local family office acquired the asset for $3.7 million, or $1,706.82 per square foot. KFC occupies the single-tenant 2,200-square-foot building, which features a drive-thru, on a net-lease basis. The property was built in 2022. Bill Asher and Jeff Lefko of Hanley Investment Group, along with Greg Bedell of Progressive Real Estate Partners, represented the seller, while Howard Rosenthal and Guy Excell …
Phoenix – Shopping center owner Michael A. Pollack Real Estate Investments has sold five centers in the Phoenix area in separate transactions for a total of $32 million. The transactions took place in the fourth quarter of 2021. The company sold Trailside Center in Mesa for $2.7 million; the company had owned the property since 1994. In Phoenix, the company sold Tower Plaza along Cave Creek Road for $2.4 million. In Peoria, Pollack sold the 67,000-square-foot Olive Plaza for $4.6 million. Pollack sold Apache Central Center in Tempe to the …
Unibail-Rodamco-Westfield (URW) is paving the way for emerging and digital brands’ entrance into physical spaces — particularly re-envisioned common areas of retail spaces. Through the company’s innovative approach toward holiday markets, URW brings new and exciting opportunities for digital brands to its centers. With more than 30 years of industry experience, Amy Alyeshmerni, vice president of asset strategy and innovation – business development/brand ventures, recently looked back at how her mindset evolved as she began working closely with URW’s Digital Incubation programs. She shared her insights during a panel at …
Creativity is the name of the game when it comes to designing and selling sponsorships and experiences at America’s shopping malls. That was the subject of a panel discussion, “Sponsorship and Experiential Marketing Trends,” at the InterFace Conference Group’s Ancillary Retail Expo 2020, held Feb. 3 and 4 at the New Orleans Marriott. Panelists detailed how sponsorships can bring added revenue to retail centers both large and small, and the best ways to do so in today’s retail world. Editor’s note: InterFace Conference Group is a division of France Media …
Business and friendship grow stronger when we support industry education, collaboration, networking and connection. — By Deborah Kravitz — The second year of the Ancillary Retail Expo conference is approaching, coming soon to New Orleans. Aside from eating beignets and drinking your way down Bourbon Street, you may wonder why you should attend — and support — this new conference. When I entered specialty leasing/business development more than 30 years ago from a career in retail management and buying, I was stunned by how welcoming my colleagues were on every …
Talks of tariffs and trade wars have dominated the news lately as the U.S. negotiates abroad over everything from immigration deals with Mexico to intellectual property protection (or lack thereof) in China. Though a deal was reached with Mexico earlier this month, an agreement has yet to be made with China. Even if the two countries do reach amicable terms, what kind of an impact will these types of trade wars and levies have stateside? “If the trade war challenge continues for too long or the U.S. experiences a retaliating …
Malls are not dead, but the formula has certainly changed, notes Carmen Spinoso, CEO of Spinoso Real Estate Group. That’s because there is no formula any longer when it comes to these assets. The one-size-fits-all approach no longer works, but that doesn’t mean winning strategies can’t be found. These strategies, Spinoso asserts, vary based on demographics, consumer profiles, existing retailers and competition within the market. He believes today’s strategy is part art and part science, but reinvigorating these spaces can be done. Spinoso is in the middle of two such …
Much of the spotlight surrounding in-demand tenants at today’s shopping centers is focused on food and beverage and entertainment users. This is a solid strategy, agrees Steven Maksin, founder and CEO of Moonbeam Capital Investments, but it should not be the only initiative. Instead, these tenants should round out a larger roster that includes other internet-resistant industries. This can boil down to services and alternative uses, as Maksin explains. Maksin and his team have had great success introducing everything from DMVs to creative offices, police academies, colleges and medical users …
There are two big threats to retail that nearly every landlord is trying to avoid: sales lost to online shopping and shoppers lost due to a recession. It may be impossible to completely fend off an attack from either, but Jon Wheeler, CEO of Pinnacle Real Estate Investment Group, has a strategy for minimizing both. Wheeler is a big believer in grocery-anchored shopping centers in secondary and tertiary markets. He prefers stabilized (as opposed to value-add) assets with quality grocers and a variety of necessity- and service-based retailers, such as …
