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Woodbury Common Premium Outlets
Company newsDevelopmentNewsTennessee

Simon to Develop 325,000-Square-Foot Premium Retail Outlets in Metro Nashville

by Abby Cox

Thompson’s Station, Tenn. — Simon Property Group has entered into an agreement to purchase a development site in metro Nashville with plans to build a luxury shopping and lifestyle destination known as Nashville Premium Outlets. The 325,000-square-foot project will be situated in the southern suburb of Thompson’s Station. “This project represents a significant investment in our town and has the potential to enhance local amenities, create jobs and strengthen our economy,” says Thompson’s Station Mayor Brian Stover. Simon is collaborating with Nashville-based Adventurous Journeys Capital Partners (AJ Capital), a company …

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Company newsFinanceNewsTexas

Stratus Obtains $29.8 Million Refinancing Loan for Retail Property in Austin, Texas

by Abby Cox

Austin, Texas — Stratus Properties Inc. has obtained a $29.8 million loan to refinance Lantana Place, a newly-developed retail property located within Stratus’ mixed-use development project in the Barton Creek area of Austin. The new loan matures in February 2029. Lantana Place — which totals 99,379 square feet — is anchored by Moviehouse & Eatery and AC Hotel by Marriott. Additionally, the property features a mix of retail and restaurant tenants including Black Rock Coffee Bar, Cobalt Blue Salon and Orangetheory Fitness, among others.

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Texas Heritage Marketplace
Company newsDevelopmentMixed-useNewsTexas

NewQuest Breaks Ground on $400 Million Mixed-Use Project in Katy, Texas

by Abby Cox

Katy, Texas — Locally-based developer NewQuest has broken ground on Texas Heritage Marketplace, a $400 million mixed-use project in the western Houston suburb of Katy. The site spans 165 acres and fronts the newly completed Texas Heritage Parkway. Current plans call for 750,000 square feet of retail, restaurant and entertainment space; two apartment communities with approximately 550 total units; and 300,000 square feet of medical office and self-storage space. Additionally, Target will anchor the retail portion of the property with a 149,000-square-foot store. A tentative completion date for the initial …

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Neptune Plaza
Company newsDevelopmentLeasingNew JerseyNews

Azarian Realty Opens 60,212-Square-Foot Hobby Lobby in Neptune City, New Jersey

by Abby Cox

Neptune City, N.J. — A new Hobby Lobby location has opened at Neptune Plaza in Neptune City. The arts and crafts retail store spans 60,212 square feet and is the junior anchor of the shopping center. Additional tenants at the center are The UPS Store, World Class ShopRite, IHOP, Visionworks and KPOT Korean BBQ. Neptune Plaza will undergo exterior renovations including new curbing, milling and repaving. Midland Park, N.J.-based Azarian Realty is the leasing and management agent for Neptune Plaza, which is 100 percent leased.

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Dutch Bros Soledad
CaliforniaCompany newsInvestment salesNews

Hanley Arranges Sale of Three Dutch Bros Locations in California

by Abby Cox

Baldwin Park, Moreno Valley and Soledad, Calif. — Hanley Investment Group has arranged the sale of three new single-tenant Dutch Bros Coffee locations in California, totaling approximately $8.1 million. The properties include Dutch Bros locations in Baldwin Park, Moreno Valley and Soledad. Dutch Bros occupies each of the properties on a 15-year triple-net lease basis. The Dutch Bros in Baldwin Park sold for $3.3 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Evergreen Development, in the transaction. Brian Melkesian of Lee & Associates represented the …

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Bella Terra
CaliforniaCompany newsMixed-useNews

DJM Sells Stake in Bella Terra Mixed-Use Development in Huntington Beach, California

by Abby Cox

Huntington Beach, Calif. — DJM Capital Partners has sold its ownership stake of Bella Terra, a 1 million-square-foot mixed-use development in Huntington Beach. DJM has managed and co-owned the property since 2005. The property is now fully owned by PGIM Real Estate, DJM’s long-term partner in Bella Terra. Terms of the deal were not disclosed.

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Kentucky Smalls Sliders
Company newsKentuckyNewsRestaurants

Smalls Sliders Signs Four-Unit Franchise Agreement in Kentucky

by Abby Cox

Lexington, Ky. — Cheeseburger slider concept Smalls Sliders has signed a franchise agreement to open four new units in Kentucky — dubbed Cans — marking its introduction to the state. Local entrepreneur Bradley Scott and his team will own and operate the restaurants. Founded in 2019, Atlanta-based Smalls Sliders currently has 350 Cans open or under development and is active across 30 states. The first of the four restaurants is scheduled to open in early 2026, according to a company representative.

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Allendale Town Center
Company newsGrocery-anchoredLeasingNew JerseyNews

Ritual Fitness Signs 3,206-Square-Foot Lease at Shopping Center in Allendale, New Jersey

by Abby Cox

Allendale, N.J. — Fitness studio Ritual Fitness has signed a 3,206-square-foot lease at Allendale Town Center in Allendale, bringing the property to full occupancy. Azarian Realty Co. leases and manages the 79,374-square-foot retail center, which comprises 20 tenant spaces, as well as an 11,290-square-foot freestanding building. Acme Supermarkets anchors the property. Kevin Pelio of Azarian represented both the landlord and the tenant in the lease negotiations.

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JOANN
Company newsFinanceNew YorkNews

JOANN Files for Second Chapter 11 Bankruptcy

by Abby Cox

New York City — Fabrics and crafts retailer JOANN, which operates roughly 800 stores in 49 states, has filed for Chapter 11 bankruptcy protection, marking its second filing within a year. JOANN first filed for bankruptcy in March 2024. According to a statement issued by the company, JOANN has faced “significant and lasting challenges in the retail environment,” as well as “constrained inventory levels.” The retailer’s current debt totals $615 million, according to CNN. The company is now planning to sell all its assets, with Gordon Brothers Retail Partners — …

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Wegmans
Company newsDevelopmentNewsPennsylvania

Wegmans to Open 115,000-Square-Foot Store in Cranberry Township, Pennsylvania  

by Abby Cox

Cranberry Township, Pa. — Supermarket chain Wegmans Food Markets Inc. has announced plans to open a new store in Cranberry Township, roughly 21 miles outside Pittsburgh. This marks the chain’s first location in metro Pittsburg. Designed and constructed by Sippel Development Co., the115,000-square-foot store will feature a bakery, seafood department, meat, produce, deli and cheese options and a selection of wine and beer. Situated on 13 acres, the new store will be a part of the larger Cranberry Springs mixed-use development. Wegmans currently operates 111 stores along the East Coast.

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