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Pinnacle-Springs_Rogers
ArkansasDevelopmentFinanceGrocery-anchoredNews

CBRE Secures Construction Financing for Mixed-Use Development in Rogers, Arkansas

by Hayden Spiess

Rogers, Ark. — CBRE has secured financing for the construction of Pinnacle Springs, a mixed-use development located in Rogers. Upon completion, the project will comprise 362 apartments and 91,000 square feet of retail space. A 37,000-square-foot Whole Foods Market will anchor the property. Richard Henry, Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE arranged the financing on behalf of the borrower and developer, SJC Ventures. Arvest Bank provided uncrossed construction loans for the project, and Dome Equities provided both common and preferred equity investments in the multifamily component. The project …

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Tanger Factory Outlet
DevelopmentNewsTennessee

Tanger Completes 290,000-Square-Foot Outlet Mall in Nashville

by Hayden Spiess

Nashville, Tenn. — Tanger Factory Outlet Centers (NYSE: SKT) has completed Tanger Outlets Nashville, a 290,000-square-foot outlet mall in Nashville. The property is Tanger’s first new development since 2019.  The open-air development consists of seven retail buildings and The Green, a central outdoor community space for programming and activations. The mall is currently 96.5 percent occupied by 60 retailers and restaurants, including Nike, Polo Ralph Lauren, Coach, Ulta Beauty, Michael Kors, Pottery Barn, Under Armour, Crocs, American Eagle, Journeys, Old Navy, Victoria’s Secret and Adidas.  The property also features 15 murals …

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DevelopmentKansasLeasingNews

Whole Foods to Open 45,791-Square-Foot Store in Metro Kansas City

by Hayden Spiess

Overland Park, Kan. — Whole Foods Market will open a 45,791-square-foot store in Overland Park, roughly 12 miles outside Kansas City. The opening of the new store, which is scheduled for Nov. 15, marks the relocation of an existing Overland Park Whole Foods, which has operated since 2007. Darcy Landis, principal local forager for Whole Foods, curated the selection for the store, which will feature more than 750 local items from the greater Kansas area. 

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Detroit-Music-Hall-Expansion
DevelopmentMichiganNews

Detroit Music Hall Unveils Plans for $122 Million Expansion

by Hayden Spiess

Detroit — Detroit Music Hall has unveiled plans for a $122 million expansion project designed by Tod Williams Billie Tsien Architects. At seven stories and 100,000 square feet, the expansion is the culmination of an extensive 2023 feasibility study. The multipurpose music center will occupy the lot adjacent to the classic 1928 Music Hall, a landmarked facility in the heart of downtown Detroit at the corner of Brush and Madison streets. The new facility will feature a state-of-the-art 24,000-square-foot concert hall, 1,800-square-foot recital hall, recording and practice studios, leasable office space …

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Scheels_Cedar-Park
DevelopmentLeasingMixed-useNewsTexas

Scheels to Open 240,000-Square-Foot Sporting Goods Store in Metro Austin

by Hayden Spiess

Cedar Park, Texas — Scheels, an employee-owned sporting goods retailer based in Fargo, North Dakota, plans to open a 240,000-square-foot store in Cedar Park, a northern suburb of Austin. The store will be the retailer’s second “All Sports” location to open in Texas, joining a store at Grandscape in The Colony that opened in 2020. Scheels plans to employ more than 500 associates at the store, most of whom will be local to Cedar Park. The Cedar Park Scheels is the second anchor tenant announced for CedarView, a mixed-use development that …

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DICK'S House of Sport
DevelopmentNewsTexas

Graycor Completes Renovations at DICK’S House of Sport Stores Totaling 200,000 Square Feet in Texas

by Hayden Spiess

Friendswood and Katy, Texas — Graycor Construction has completed the renovation of two DICK’S House of Sport stores in Texas. Located in Friendswood and Katy, the spaces comprise roughly 100,000 square feet each and feature a climbing wall, multisport cage and golf simulation. Fox Design was the architect for both projects, which included both interior and exterior updates. 

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Wegmans_Yardley-Pa
DevelopmentLeasingNewsPennsylvania

Wegmans to Open 88,000-Square-Foot Store in Pennsylvania

by Hayden Spiess

Yardley, Pa. — Wegmans will open an 88,000-square-foot store in Yardley early next year. Situated within the Prickett Preserve development, the store is expected to employ more than 400 people. Wegmans was established in 1916 and currently operates 109 stores in seven states. The brand is also scheduled to open a store in Lake Grove, New York, next year. 

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Shaun Riley Faris Lee Retail Investment
Content PartnersDevelopmentFeaturesIndustry ContentInvestment salesNet leaseRetailers

Sound Retail Fundamentals Continue to Drive Investor Interest

by Sarah Daniels

The three managing principals at Irvine, Calif.-based Faris Lee Investments — Shaun Riley, Jeff Conover and Don MacLellan — see retail as the best investment class today. The reason? Strong fundamentals across the board, including low vacancy rates, minimal new construction and strong tenant sales. The trio live in the same world as the rest of us, where interest rates and economic uncertainty have deterred many, but to them, the fact remains that retail has never been stronger as an asset class. “People say it’s a bad market. It’s not …

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Farmington_Charlotte-Harrisburg-N.C
DevelopmentMixed-useNewsNorth Carolina

MPV Opens Chick-fil-A, Plans New Construction at Farmington Development in North Carolina

by Hayden Spiess

Charlotte and Harrisburg, N.C. — MPV Properties has announced the addition of new tenants and buildings at Farmington, the developer’s master-planned community in Charlotte and Harrisburg. Chick-fil-A opened at the property in May, and Famous Toastery is planning to open in the second half of 2024, within an outparcel behind the development’s Shop Building I. H.T. Fuel will also open on an outparcel, with construction scheduled to begin directly behind Chick-fil-A in the coming months. Construction is also scheduled to begin on Small Shops II, an 11,865-square-foot retail building. MPV is …

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The Shoppes at Black Diamond
DevelopmentFloridaNews

Ferber Underway on 29-Acre Retail Center in Florida

by Hayden Spiess

Lecanto, Fla. — The Ferber Co. is underway on the development of a 29-acre retail center in Lecanto. Site work for the property, dubbed The Shoppes at Black Diamond, began in October 2022. Building construction is scheduled to commence over the coming weeks, with openings expected to begin in early 2024. Tenants at the center will include Target Supercenter, Aldi, Starbucks Coffee, 7-Eleven, Panera Bread and Texas Roadhouse. 

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