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Julia Sanders

Imperial Plaza
FloridaInvestment salesNews

Matthews Arranges $12.4 Million Sale of Imperial Plaza Shopping Center in Auburndale, Florida

by Julia Sanders

Auburndale, Fla. — Matthews Real Estate Investment Services has arranged the sale of Imperial Plaza, a Winn-Dixie-anchored, 129,807-square-foot shopping center located at 303-413 Havendale Blvd. in Auburndale. Jonah Yulish and Ben Snyder of Matthews Real Estate represented the undisclosed buyer, which purchased the property for $12.4 million. Palomar Group represented the seller, Core Imperial Plaza, in the transaction. For 44 years, Imperial Plaza has been anchored by Winn-Dixie, and the retailer completed a $1 million interior renovation in 2020. About 97 percent occupied, Imperial Plaza is co-anchored by Harbor Freight, …

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NewsWashington DC

NRF: Retail Sales Slowed in July Amid Rising Cases of Delta Variant

by Julia Sanders

Washington, D.C. — The National Retail Federation (NRF) reports retail sales have decreased 1.1 percent in July over the prior month on a seasonally adjusted basis — not including automobile dealers, gas stations and restaurants — and up 9.5 percent unadjusted year-over-year. Retail sales in July were worse than the Dow Jones’ prediction of a 0.3 percent decrease, according to CNBC. The Centers for Disease Control and Prevention reports the delta variant is more than 98.8 percent of all COVID-19 cases currently in the United States. In June, the NRF …

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ArkansasCompany newsNews

Walmart Sees Increase in Second-Quarter Revenue Due to E-Commerce, Grocery Shopping

by Julia Sanders

Bentonville, Ark. — Bentonville, Arkansas-based Walmart Inc. (NYSE: WMT) has seen an increase in revenue during its fiscal second quarter of 2021, which ended on July 31. Walmart’s total revenue was $141 billion, an increase of 2.4 percent year-over-year. According to Refinitiv, the discount retailer’s earnings per share was $1.78 adjusted, while it was expected to be $1.57, and the company’s revenue was $141.05 billion, higher than the $137.17 billion expected. The retailer revised its 2021 forecast and is now predicting its earnings per share to range from $6.20 to …

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Company newsGeorgiaNews

Home Depot Reports Fewer Customer Transactions in Second Quarter Due to Less DIY Projects

by Julia Sanders

Atlanta — Atlanta-based Home Depot reported a drop of 5.8 percent in customer transactions in its fiscal second quarter that ended in August 2021, but the average ticket of customer sales was 11.3 percent larger than last year. As people go back to working in an office after working from home since the beginning of the pandemic, fewer shoppers visited Home Depot during the fiscal second quarter due to less interest in do-it-yourself projects, according to CNBC. The home improvement retailer reported $41.1 billion in sales during its fiscal second …

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Company newsNewsWashington

WSJ Report: Amazon Plans New Department Store Chain

by Julia Sanders

Seattle — Amazon, the Seattle-based e-commerce giant, is planning to open a chain of department stores to boost its sales in clothing, household items, electronics and other areas. The news comes from a Wall Street Journal report citing “people familiar with the matter.” The first stores are expected to open in Ohio and California and, at around 30,000 square feet, will be smaller than a typical department store. “It is unclear what brands Amazon will offer in the stores, although the company’s private-label goods are expected to feature prominently,” the …

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3 Gatos
LeasingMichiganNews

New Brewery Opens at Chateau Centre in Suburban Grand Rapids

by Julia Sanders

Wyoming, Mich. — 3 Gatos Brewery has opened its first location within Chateau Centre at 1760 44th St. in Wyoming, a southern suburb of Grand Rapids. At 3 Gatos Brewery, the food and beer are influenced by Brazilian and German cultures. The founders, Linus and Renata De Paoli, named the brewery after their three cats. Rod Alderink of NAI Wisinski of West Michigan represented the undisclosed landlord. Todd Roesler of Keller Williams GR East represented the tenant.

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The Hill
Investment salesNewsTexas

JLL Negotiates Sale of 240,000-Square-Foot Shopping Center in Dallas

by Julia Sanders

Dallas — JLL has negotiated the sale of The Hill, a 240,000-square-foot shopping center located at the corner of Walnut Hill Lane and Central Expressway in north-central Dallas. Built in 1977, The Hill houses tenants such as Houndstooth Coffee, Hiatus Spa + Retreat, Snooze, Taco Deli, Hat Creek Burger Co. and Boardroom Salon for Men. Barry Brown, Ryan Shore, Chris Gerard and Jason Jacobs of JLL represented the seller, EB Arrow, in the transaction. Asana Partners purchased the property for an undisclosed price in an off-market deal.

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Hamilton Marketplace
CaliforniaInvestment salesNews

Grosvenor Americas Sells 90,769-Square-Foot Hamilton Marketplace in San Francisco Bay Area

by Julia Sanders

Novato, Calif. — Grosvenor Americas has completed the disposition of Hamilton Marketplace, a retail center located at 5800 Nave Drive in the San Francisco Bay Area community of Novato. Terms of the transaction were not released. Grosvenor originally developed the 90,769-square-foot, open-air shopping center in 2008. At the time of sale, the property was fully leased to tenants including Safeway, Pet Food Express, Super Duper, Peet’s Coffee, Wells Fargo, Toast Restaurant and Cycle Bar. Nicholas Bicardo of Newmark Retail Capital Markets represented Grosvenor in the deal.

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DevelopmentNewsTennessee

MVP3 Entertainment, ATWEC Break Ground on $50 Million Mixed-Use Entertainment Project in Memphis

by Julia Sanders

Memphis, Tenn. — Marie Pizano of MVP3 Entertainment Group and Darnell Stitts of ATWEC Technologies have broken ground on MVP3 Studios, a 40-acre mixed-use entertainment project located in Memphis. The project is expected to cost $50 million and is predicted to create 600 jobs, according to WREG Channel 3 News. The co-developers purchased the 80,000-square-foot Malco Majestic Cinema theater and the surrounding 18 acres to redevelop the property for MVP3 Studios. The site will eventually house production sound stages, radio studios, music recording studios, a TV network and movie theaters. …

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H-Mart
GeorgiaInvestment salesNews

IPA Arranges Sale of 83,391-Square-Foot Abbotts Bridge Station Shopping Center Metro Atlanta

by Julia Sanders

Johns Creek, Ga. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Abbotts Bridge Station, an 83,391-square-foot, H-Mart-anchored shopping center in the Atlanta suburb of Johns Creek. Zach Taylor and Andrew Margulies of IPA brokered the sale. Westwood Financial sold the property for $18.9 million. The buyer was not disclosed. The shopping center’s tenant roster includes Snow Mountain, Hong Kong Café, AT&T, Joy Pizza N Joy Chicken and White Windmill Bakery.

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