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Company newsFinanceNew JerseyNewsTexas

Retailer Bankruptcy Update: Party City to Close All Stores, The Container Store Files for Chapter 11

by Hayden Spiess

Woodcliff Lake, N.J. and Coppell, Texas — In a one-two punch of holiday retail bankruptcy announcements, Party City has issued a formal statement declaring that it will close all its U.S. stores within the coming months, and The Container Store has formally filed for Chapter 11 bankruptcy protection. CNN first reported on Friday, Dec. 20, that Party City, which filed for Chapter 11 bankruptcy protection in January 2023to restructure its debt, will now be liquidating. The New Jersey-based entertainment accessories retailer, which does business as Party City Holdco Inc., said over the weekend that …

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Vista-Commons_Las-Vegas
Company newsGrocery-anchoredNevadaNews

Vestar to Manage 100,000-Square-Foot Retail Center in Las Vegas

by Hayden Spiess

Las Vegas — Vestar has been selected to provide management services for Vista Commons, a 100,000-square-foot retail center located in the Summerlin neighborhood of Las Vegas. Albertsons anchors the property, which is fully occupied. Other tenants at the center include Wells Fargo, State Farm, Subway, Bank of America and Dunkin’ Donuts. Vestar will manage Vista Commons on behalf of an institutional client that recently acquired the property. Gleb Lvovich and Daniel Tyner of JLL Capital Markets brokered the acquisition. This marks the fifth Las Vegas property in Vestar’s management portfolio. 

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CaliforniaCompany newsFloridaLeasingNewsRestaurants

Sip Fresh to Open New Stores in California, Florida

by Hayden Spiess

Temecula, Calif. and Orlando, Fla. — Beverage concept Sip Fresh has announced plans to open stores in Temecula, California, and Orlando, Florida. Situated within Promenade Temecula, the new venue is scheduled to open in early 2025. Franchisee Kevin Tam will own and operate the unit. The Florida store will be located within Florida Mall. Each store will total roughly 1,200 square feet. 

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Dollar-General
Company newsNewsTennessee

Dollar General to Open 575 New Stores in 2025

by Hayden Spiess

Goodlettsville, Tenn. — Dollar General plans to open approximately 575 new stores in the United States in its fiscal year 2025 (through Jan. 30, 2026). The Tennessee-based discount retailer will also debut 15 new stores in Mexico within that time frame. These new stores will be in addition to 730 new store openings in fiscal 2024, which will end on Jan. 31, 2025. Overall, the company expects to execute nearly 5,000 real estate projects in fiscal year 2025. In addition to openings, this will include 4,250 store remodels and relocating 45 …

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Company newsIdahoNewsOhio

Federal Judge Blocks Kroger-Albertsons Merger

by Hayden Spiess

Cincinnati and Boise, Idaho — A judge in the Oregon federal court has blocked Kroger Co.’s $24.6 billion acquisition of Albertsons Cos. U.S. District Judge Adrienne Nelson agreed with the Federal Trade Commission’s argument that Kroger would become the dominant player in traditional supermarkets if the deal passed, and rejected the companies’ counterargument that selling 579 stores to C&S Wholesale Grocers would replace the lost competition. In a press release issued today, Albertsons announced that it has exercised its right to terminate its merger agreement with Kroger. Additionally, Albertsons has filed …

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99-Cents
ArizonaCaliforniaCompany newsFinanceInvestment salesNevadaNewsTexas

Hilco Arranges $168 Million Sale of 99 Cents Portfolio

by Hayden Spiess

Commerce, Calif. — Hilco Real Estate has arranged the $168 million sale of the 99 Cents Only Stores LLC real estate portfolio as part of the retailer’s Chapter 11 bankruptcy proceedings. Founded in 1982, California-based 99 Cents began its liquidation in April 2024, citing rising competition, increased labor costs, challenging logistics and the effects of the COVID-19 pandemic. The portfolio included 44 company-owned properties, as well as 333 store leases and three vacant development parcels. According to Hilco, the portfolio generated significant interest, and 181 asset purchase agreements with non-refundable earnest money deposits …

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Company newsGeorgiaNews

EoS Fitness to Open 50 Gyms in Georgia 

by Hayden Spiess

Atlanta — EoS Fitness has announced plans to expand into greater Atlanta and open 50 gyms throughout Georgia over the next 10 years. The first several gyms are scheduled to open by 2027. “Atlanta is the third-fastest-growing metropolitan area in the U.S., and venturing here represents a key milestone in our long-term vision for EoS,” says Rich Drengberg, CEO of the brand. The EoS portfolio currently includes more than 175 locations in Arizona, California, Florida, Nevada, Texas and Utah. 

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Jersey-Mikes
Company newsInvestment salesNew JerseyNewsRestaurants

Blackstone Agrees to Acquire Majority Ownership Position in Jersey Mike’s Subs

by Hayden Spiess

Manasquan, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and digital transformation. New …

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Company newsNewsTexas

Trademark to Manage Leasing at 412,900-Square-Foot Retail Center in Katy, Texas

by Hayden Spiess

Katy, Texas — Trademark Property Co. has been awarded the leasing assignment for LaCenterra at Cinco Ranch, a 412,900-square-foot retail center located in the Houston suburb of Katy. Current tenants at the property, which is situated within the Cinco Ranch master-planned community, include Trader Joe’s, Alamo Drafthouse Cinema, Athleta, CAVA, Lululemon, Lovesac, Warby Parker, Postino, Dish Society, Sephora, Starbucks Coffee, Pure Barre and Nando’s PERi-PERi. Daniel Goldware of Trademark will lead leasing at the center, which is managed by JLL. 

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Paul-Kurzawa
Company newsNewsTexas

Centennial Appoints Paul Kurzawa President

by Hayden Spiess

Dallas — Dallas-based retail real estate owner and operator Centennial has appointed Paul Kurzawa to serve as president of the company. Kurzawa has 25 years of experience in the industry, including tenures with The Blackstone Group, Equity Office Properties, Westfield Corp., Lend Lease Corp., General Property Trust and Caruso. He most recently served as chief operating officer of CenterCal Properties. Current president Whitney Livingston is departing to join the International Council of Shopping Centers (ICSC) as chief operating officer. In addition to its portfolio of owned shopping, dining, entertainment and mixed-use …

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