Kona, Hawaii — The Davies Group at Los Angeles-based George Smith Partners has arranged both a $51.7 million senior construction loan and $16.2 million in mezzanine debt for the ground-up development of Niumalu Marketplace, a shopping center in Kona. The borrower is Commercial Real Estate Development Enterprise (CREDE). Safeway will anchor the 204,275-square-foot retail property, which is slated for completion by fourth-quarter 2020. Malcolm Davies, Zachary Streit, Evan Kinne, Alexander Rossinsky, Rachael Lewis, Aiden Moran and Maxwell Shedlosky of George Smith Partners facilitated the transaction. Centennial Bank provided the construction …
Portsmouth, N.H. — Whole Foods Market will open a 42,000-square-foot grocery store in Portsmouth, located approximately 45 miles east of Concord. The store will be the Austin-based grocer’s third in the state and will anchor Durgin Square Shopping Center, a 135,000-square-foot retail property that also houses HomeGoods and T.J. Maxx. The store is slated to open this fall. Scott Black of Dartmouth Co. represented Whole Foods in the lease negotiations. Ben Starr of Atlantic Retail represented the landlord, Black Creek Group.
French Valley, Calif. — Southlake, Texas-based United Development Co., in partnership with Pasadena, Calif.-based Halferty Development Co., has started construction of French Valley Marketplace, a shopping center in French Valley, approximately seven miles northeast of Temecula. Situated on 22 acres, French Valley Marketplace will offer 132,500 square feet of leaseable space in 16 buildings, with 44,300 square feet of retail space still available, four drive-thru pads for ground lease or build-to-suit and 5,000 square feet of grocery store and planned pharmacy space. Pre-leased tenants include Grocery Outlet, LA Fitness, McDonald’s, …
San Antonio — EVO Entertainment, an entertainment retail concept that combines bowling, movies, games, food and beverages, will open an 80,000-square-foot venue at Escala in San Antonio. The center will feature 10 movie screens, 12 bowling lanes, a restaurant and bar, arcade and virtual reality games, a ropes course and private event space. Metro Dallas-based N3 Real Estate is the developer of Escala, a shopping center located at the intersection of State Highway 151 and Military Drive on the city’s northwest side. The venue will be the seventh for EVO, …
Nashville, Tenn. — Whole Foods Market has opened a 44,500-square-foot store in downtown Nashville. Whole Foods employs about 120 full- and part-time workers at the new store, which is situated at 1202 Broadway. The store will be open 7 a.m. to 10 p.m. daily. The new location features a full-service coffee bar called BroadBrews, offering coffee, espresso, cold brew, teas, beer, wine and pastries. The new Whole Foods is situated at the ground level of 1200 Broadway, a 26-story, 313-unit apartment complex. This is Whole Foods’ third location in metro …
Jenks, Okla. — Simon Property Group Inc. has broken ground on Tulsa Premium Outlets, a 340,000-square-foot, open-air retail and dining destination. The property is located just off the Creek Turnpike in Jenks, a southern suburb of Tulsa, and will be Simon’s 91st Premium Outlets development. Construction of the property is expected to generate 400 jobs, and the opening of the center is anticipated to create 800 new full- and part-time jobs. A completion date was not released.
New York City — Asian cuisine concept wagamama has opened a 6,836-square-foot restaurant in Midtown Manhattan. The new restaurant is located at 100 W. 55th St. and offers 185 seats. The chain’s parent company, The Restaurant Group, has entered a U.S. joint venture partnership with Conversion Venture Capital (CVC2) as financial partners and Robert Cornog Jr. and Richard Flaherty as operating partners. Cornog and Flaherty previously were leaders of Punch Bowl Social, an experiential food and beverage brand. The joint venture plans to open 30 to 40 new restaurants across the United …
Norwalk, Conn. — Bob’s Discount Furniture has opened a 30,000-square-foot store in Norwalk, a western suburb of Bridgeport. The Manchester, Connecticut-based retailer operates 122 stores across 18 states. The store, which is Bob’s ninth in Connecticut, is located at 59 Connecticut Ave. The building was formerly leased to Toys ‘R’ Us. Benderson Development acquired the property during the toy retailer’s asset liquidation.
St. Johns, Fla. — The Ferber Co. will develop Durbin Creek Crossing, a 70-acre shopping center in the south Jacksonville suburb of St. Johns. Ferber is scheduled to break ground this summer and expects to deliver the asset by fall 2021. The property will offer 250,000 square feet of retail space across 10 outparcels sized between 0.8 and 2.6 acres. Ferber has signed Aldi to a 19,000-square-foot lease. Other tenants coming to Durbin Creek Crossing include ABC Fine Wine & Spirits, First Florida Credit Union and Tire Kingdom. Nancy Sumner …
Wilmington, Del. — Sprouts Farmers Market will open a 30,000-square-foot grocery store in Wilmington, located approximately 30 miles southwest of Philadelphia. The Arizona-based grocery chain offers organic produce, an expansive bulk foods selections and an extensive vitamin department. Located at 4727 Concord Pike, the new store will bring 140 full- and part-time jobs to the area. The opening is scheduled for March 11.