Wednesday, November 27, 2024
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Katie Sloan

NY-Retail
FeaturesFrom The MagazineNew York

NYC Retail Enters A New Phase Of Discovery

by Katie Sloan

The New York City retail market is currently functioning like an episode of The Price Is Right. Developers, investors, brokers and operators are all trying to attach fair values to rents and sales prices for spaces of all sizes and submarkets. But after a tumultuous period marked by a global pandemic and record inflation, followed by a string of severe interest rate hikes, accurately assigning those numbers is easier said than done — at least in some submarkets. According to data from JLL, at the end of the third quarter, the …

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FeaturesFrom The Magazine

From Physical Upgrades to New Merchandising, Owners Are Reimagining Philadelphia’s Shopping Centers

by Katie Sloan

Philadelphia is known for many things, from being the City of Brotherly Love to a city rich in history, art, culture and food. As a result, the region is desirable for many residents and visitors and has been recognized in real estate circles for its housing and retail development opportunities.  Throughout the pandemic, greater Philadelphia has lent itself to commuters, residents, tourists and hybrid employers by providing convenient access to other East Coast cities, vast amenities and outdoor recreation spaces, as well as unique dining, entertainment and shopping experiences.  Recognizing …

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FeaturesFrom The Magazine

Chicago Update: While Some Tenants Have Vacated Storefronts, Other Retailers Have Expanded

by Katie Sloan

This summer, Canadian women’s fashion retailer Aritzia signed a lease for 46,000 square feet at 555 N. Michigan Ave. for its fourth Chicago-area location. At the time of the lease signing, the deal represented the largest completed transaction on the Magnificent Mile in nearly a decade and the first flagship deal since 2019, according to CBRE.  Athletic footwear and apparel retailer HOKA opened its first Chicago pop-up store earlier this year in new ground-floor retail space at 444 N. Michigan Ave., an office building rising 36 stories. HOKA opened its …

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DelawareInvestment salesNews

Neuman Commercial Arranges $33.5 Million Sale of Newark Shopping Center in Metro Philadelphia

by Katie Sloan

Newark, Del. — Atlantic Realty Cos., represented by Gil Neuman of Neuman Commercial Group, has sold Newark Shopping Center for $33.5 million. The 145,400-square-foot retail center is located in Newark, Delaware, roughly 45 miles southwest of Philadelphia. The property was 93 percent leased at the time of sale to tenants including Newark Natural Foods, Main Street Movies 5, PNC Bank, Wingstop, Capriotti’s, Dollar Tree, Orangetheory Fitness, Goodwill, Fresenius Medical Care, Enterprise Rent-A-Car, T-Mobile, Rita’s Italian Ice, Tropical Smoothie Cafe and Chase Bank.

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GeorgiaInvestment salesNews

M Street, Highline Purchase Conyers Commons Shopping Center in Metro Atlanta for $17 Million

by Katie Sloan

Conyers, Ga. — A joint venture between M Street Holdings and Highline Real Estate Capital has acquired Conyers Commons, a 118,916-square-foot shopping center in the Atlanta suburb of Conyers. The undisclosed seller sold the property for approximately $17 million. Chris DeCoufle, Kevin Hurley and Matt Karempelis of CBRE brokered the transaction on behalf of the seller, and BankUnited provided acquisition financing for M Street and Highline. Conyers Commons represents the joint venture’s second transaction in the Atlanta market this year. Anchored by Ross Dress for Less and Bealls Outlet, Conyers …

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IndianaLeasingNews

COhatch, North High Brewing Open at Circle Centre Mall in Indianapolis

by Katie Sloan

Indianapolis — COhatch and North High Brewing have opened at Circle Centre Mall in Indianapolis. COhatch offers co-working spaces, private offices and meeting and event space. North High Brewing features a selection of craft beers as well as a food menu. This is the second location for the brewery in the Indianapolis market. JLL manages and leases Circle Centre, which spans more than 700,000 square feet.

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CaliforniaLeasingNews

Promenade at Downey Adds Seven New Tenants in Metro Los Angeles

by Katie Sloan

Downey, Calif. — Seven new businesses are joining the tenant roster at Promenade at Downey, a 656,000-square-foot retail center in Downey, located roughly 13 miles outside of Los Angeles. Guacamaya Oasis, Xécora Gastronomía Urbana and Zen Med Spa have already opened, with Fire Wings, Handel’s Homemade Ice Cream, Crumbl Cookies and Daiso set to open in fall of this year. 

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DevelopmentNewsTexas

High 5 Entertainment to Open 70,000-Square-Foot Venue at Mixed-Use Development in Suburban Dallas

by Katie Sloan

Allen, Texas — High 5 Entertainment, an Austin-based concept, will open an 70,000-square-foot venue at The Farm in Allen, a 135-acre mixed-use development located on the northeastern outskirts of Dallas. In addition to craft food and beverages, the entertainment center will feature bowling, laser tag, axe throwing, escape rooms, minigolf and private event spaces. The main facility will span 45,000 square feet, with the outdoor minigolf course accounting for the remaining 25,000 square feet. The opening is slated for fall 2023. JaRyCo is the master developer of The Farm in Allen.

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LeasingNew JerseyNews

Marshalls Opens 50,000-Square-Foot Store in Totowa, New Jersey

by Katie Sloan

Totowa, N.J. — Marshalls has opened a 50,000-square-foot store at Totowa Square, a 258,000-square-foot retail power center in Northern New Jersey. The discount retailer is backfilling a space formerly occupied by Toys ‘R’ Us. Brian Katz and Amy Staats of Katz & Associates represented the landlord in the lease negotiations. Jerry Welkis of Welco Realty represented the tenant. The center is now 97 percent leased.

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