Friday, November 29, 2024
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Katie Sloan

Target_Mandeville
LeasingLouisianaNews

Target to Open 58,000-Square-Foot Store at Premier Centre in Mandeville, Louisiana

by Katie Sloan

Mandeville, La. — Target is set to open a 58,000-square-foot store at Premier Centre, a 273,000-square-foot shopping center in Mandeville. The store will occupy a combination of space formerly occupied by Stein Mart and an adjacent space currently occupied by Rack Room Shoes, which will be relocating to another storefront within the center. An additional 13,000 square feet will be built onto the back of the building to accommodate the new tenant. Whole Foods Market anchors Premier Centre, which is 97 percent leased to tenants including Bed Bath & Beyond, …

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Fort-Bend-Town-Center-Missouri-City
DevelopmentNewsTexas

NewQuest Breaks Ground on 300,000-Square-Foot Retail Project in Metro Houston

by Katie Sloan

Missouri City, Texas — NewQuest Properties has broken ground on Phase II of Fort Bend Town Center, a project that will add 300,000 square feet of shopping, dining and entertainment space to the local supply of Missouri City, located southwest of Houston. A 12-screen Cinemark theater will anchor the 42-acre second phase, which is expected to come on line in the third quarter of 2023. NewQuest is also in the midst of negotiations with six potential junior anchor tenants for Phase II.

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MGM-Grand
Company newsNevadaNew YorkNews

VICI Properties to Acquire MGM Growth Properties for $17.2 Billion

by Katie Sloan

New York City and Las Vegas — VICI Properties Inc. (NYSE: VICI), MGM Growth Properties LLC (NYSE: MGP) and MGM Resorts International (NYSE: MGM) have entered into a definitive agreement under which VICI will acquire MGP for a total consideration of $17.2 billion, including the assumption of approximately $5.7 billion of debt. MGM Resorts is the controlling shareholder of MGP. Upon completion of the merger, VICI will have an estimated enterprise value of $45 billion representing 43 properties in 15 states. The deal will add 15 Class A entertainment resort properties across …

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ATT-Discovery-District-Dallas
DevelopmentNewsTexas

AT&T Opens 300,000-Square-Foot Discovery Distict in Downtown Dallas

by Katie Sloan

Dallas — AT&T has opened Discovery District, a project that transformed the telecommunications giant’s headquarters in downtown Dallas into a mixed-use destination with retail, restaurant, office and entertainment uses. Designed by global architecture firm Gensler, AT&T Discovery District spans 6.5 acres and includes multiple art installations, as well as interactive features for customers. The Beck Group served as the general contractor of the project, which was conceived more than five years ago.

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Merganser-Commons-Dogwood-Estates_Milton
DevelopmentFloridaNews

Branch Breaks Ground on Publix-Anchored Shopping Center in Milton, Florida

by Katie Sloan

Milton, Fla. — Branch Properties has broken ground on Merganser Commons at Dogwood Estates, a Publix-anchored shopping center in Milton. The grocer will occupy 46,811 square feet and be the first Publix store in the city. Overall, Merganser Commons will span 66,921 square feet and feature retail, dining and service-oriented tenants. Branch Properties’ partner on the project is Merganser Enterprises LLC, a retail developer based in Smyrna, Georgia. Branch Properties plans to deliver the center in spring 2022.

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Plant-Shops-Chandler-AZ
ArizonaInvestment salesNews

Armstrong Capital Purchases Shopping Center Portfolio in Arizona for $18.3 Million

by Katie Sloan

Chandler, Ariz. — Armstrong Capital Development has acquired The Plant Shops North and South, two adjacent shopping centers in Chandler, for $18.3 million. The name of the seller was not released. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark facilitated the transaction. Situated at 4205 and 4225 S. Gilbert Road, the properties were developed in 2018. Totaling 30,820 square feet, the portfolio was 92 percent leased at the time of sale. Current tenants include Barre3, AT&T, Zoyo Yogurt, Tryst Café and Dunkin Donuts.

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MassachusettsNews

IPA Negotiates $54.5 Million Sale of Grocery-Anchored Shopping Center in Metro Boston

by Katie Sloan

Bedford, Mass. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $54.5 million sale of Bedford Marketplace, a 153,000-square-foot shopping center in the northwestern Boston suburb of Bedford. Whole Foods Market anchors the center, which also houses tenants such as Marshalls, Cambridge Savings Bank, Bank of America, Brookline Bank, U.S. Post Office, AFC Urgent Care and Lincoln Liquors. Jim Koury of Marcus & Millichap represented the seller, RFPS 181 Owner LLC, and procured the buyer, Ramco Property Acquisitions LLC. Bedford Marketplace was 97 percent leased at …

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Company newsIndianaNews

Simon Property Group: Retail Sales Returned to Pre-Pandemic Levels in June

by Katie Sloan

Indianapolis — Total retail sales for the month of June at Simon Property Group (NYSE: SPG) assets were equal to pre-pandemic levels, according to the Indianapolis-based company. Sales were up 80 percent compared with June 2020. Simon’s net operating income (NOI) increased 16.6 percent in the second quarter of 2021 compared with the same period one year ago. As of June 30, occupancy at Simon’s U.S. malls and premium outlets was 91.8 percent. “I am pleased with the profitability and substantial improvement in cash flow that were generated in the second …

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Market-Square_Marietta
GeorgiaInvestment salesNews

SRS Arranges $11 Million Sale of Big Lots-Anchored Shopping Center in Metro Atlanta

by Katie Sloan

Marietta, Ga. — SRS Real Estate Partners has brokered the $11 million sale of Market Square, a 137,889-square-foot shopping center located at 2932 Canton Road in Marietta. The center sits on 13.4 acres and houses tenants such as Big Lots, Ace Hardware and Planet Fitness. A privately held entity doing business as MSQ Realty LLC purchased the asset from an entity doing business as Wood Marietta Center LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction, and the buyer was self-represented.

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Shops-at-Ledgewood-Commons-New-Jersey
DevelopmentNew JerseyNews

Advance Realty, Invesco Open 450,000-Square-Foot Redevelopment in Roxbury, New Jersey

by Katie Sloan

Roxbury, N.J. — A joint venture between Advance Realty Investors and Invesco Real Estate has opened The Shops at Ledgewood Commons, a 450,000-square-foot open-air lifestyle center in Roxbury, about 45 miles west New York City. The site was formerly occupied by Ledgewood Mall. Walmart Supercenter anchors the center, which is also home to tenants including Marshalls, Ashley HomeStore, Men’s Wearhouse, Ulta Beauty, Five Below, Burlington, Wendy’s, Chipotle Mexican Grill, Five Guys, Panda Express and Starbucks Coffee. Jeffery Realty is the leasing agent for the property.

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