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VICI Properties Completes Acquisition of JACK Cleveland Casino, Thistledown Racino for $843.3 Million

by Alex Tostado

Cleveland and North Randall, Ohio — VICI Properties Inc. (NYSE: VICI) has completed the acquisition of JACK Cleveland Casino and JACK Thistledown Racino for approximately $843.3 million. The company financed the transaction with cash on hand. JACK Cleveland Casino opened in May 2012 in the historic Higbee Building in downtown Cleveland. The property features approximately 96,000 square feet of gaming space, 1,300 gaming machines, 120 table games and eight food and beverage outlets. The casino is connected to both the 205-room Ritz-Carlton hotel and the 440-room Renaissance hotel. JACK Thistledown …

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DevelopmentEntertainmentInvestment salesMallsNewsVirginia

VCC Partners, Shamin VCC Acquire Former Macy’s in Virginia, Plan to Redevelop into Sports Complex

by Alex Tostado

Glen Allen, Va. — VCC Partners LLC and Shamin VCC LLC have acquired a 109,813-square-foot former Macy’s within Virginia Commons Mall in Glen Allen for $2 million. The buyers plan to demolish the existing building and redevelop the nine-acre property into a sports arena that will include indoor event space, basketball courts and seating for 4,500 spectators. Demolition will begin by May. David Kalman of S.L. Nusbaum Realty Co. represented the seller, Impact Investments Group LLC, in the transaction.

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DevelopmentEntertainmentLeasingNewsNorth CarolinaRetailers

CBL Inks Lease with Dave & Buster’s at Cross Creek Mall in Fayetteville, North Carolina

by Alex Tostado

Fayetteville, N.C. — CBL Properties has unveiled redevelopment plans for Phase I of the former Sears department store within Cross Creek Mall in Fayetteville. New-to-market Dave & Buster’s will occupy and operate the space, which is under construction. Chattanooga, Tenn.-based CBL also says it is looking add restaurants, specialty stores and other uses that will further enhance Cross Creek Mall. The Sears closed in January 2019. The mall is located at 419 Cross Creek Mall, five miles west of downtown Fayetteville. Additional details including the timing of the Dave & …

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CaliforniaDevelopmentEntertainmentNewsRestaurantsRetailers

Unibail-Rodamco-Westfield to Redevelop 160,000-Square-Foot Former Los Angeles Sears Store into Dining, Entertainment District

by Alex Tostado

Los Angeles — Unibail-Rodamco-Westfield plans to redevelop the long-vacated former Sears department store in the Canoga Park neighborhood of Los Angeles into a new dining and entertainment district. The empty store is located in the Westfield Topanga & The Village shopping center. Slated to open in late 2021, the new district will feature a chef-driven food hall, sit-down restaurants, lounges, cocktail bars, interior and exterior boutiques, and entertainment and recreational activities, as well as landscaped indoor and outdoor public spaces and plazas. The renovation will also create a grand entrance …

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EntertainmentLeasingNewsPennsylvaniaRetailers

Stumpy’s Hatchet House Signs 5,800-Square-Foot Retail Lease in Erie, Pennsylvania

by Alex Tostado

Erie, Pa. — Entertainment concept Stumpy’s Hatchet House has signed a 5,800-square-foot lease at Liberty Center I shopping center in Erie, located approximately 130 miles north of Pittsburgh. The site will include 10 hatchet-throwing pits and aims to be a social gathering place with light snacks sold onsite. Guests can bring their own wine, beer and food. Other tenants of the 230,000-square-foot shopping center include regional grocery chain Top Friendly Markets, Peebles department store and PNC Bank. Drew Baldwin of Baldwin Brothers Inc. represented Stumpy’s in the lease negotiations. Sherry …

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DevelopmentEntertainmentNew JerseyNewsRetailers

IT’SUGAR to Premiere at 22,000-Square-Foot Store within American Dream in East Rutherford, New Jersey, on Dec. 14

by Alex Tostado

East Rutherford, N.J. — Candy and sweets retailer IT’SUGAR will open a 22,000-square-foot store at American Dream, a newly opened entertainment and retail destination in East Rutherford, a western suburb of New York City. The official opening is set for Saturday, Dec. 14. The first floor of the three-story store will offer giant candy, sugar sculptures and more than 5,000 square feet of candy bins with a variety of sweets. The second floor will house branded candies, including Sour Patch Kids, Swedish Fish and Reese’s. In spring 2020, a café …

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DevelopmentEntertainmentNew JerseyNewsRetailers

Triple Five Group Launches 180,000-Square-Foot Big Snow Slope at American Dream in New Jersey

by Alex Tostado

East Rutherford, N.J. — Triple Five Group has opened Big Snow, a 180,000-square-foot indoor snow slope within its American Dream entertainment and retail destination in East Rutherford, a western suburb of New York City. The 16-story vertical slope offers indoor skiing, snowboarding, sledding and other snow activities year-round. The facility will produce 4.4 tons of snow per hour, which will be kept at a constant temperature of 28 degrees with an average depth of 2 feet. Triple Five opened American Dream in late October with a Nickelodeon Universe theme park …

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DevelopmentEntertainmentNewsPennsylvaniaRetailers

Cliffs Climbing + Fitness to Open 40,000-Square-Foot Facility in Philadelphia on Dec. 7

by Alex Tostado

Philadelphia — Cliffs Climbing + Fitness will open a 40,000-square-foot climbing and fitness facility called in Philadelphia on Saturday, Dec. 7. The Cliffs at Callow Hill will be located in a single-tenant warehouse at 1010 Callowhill St. and will offer climbing walls with classes and clinics for all skill levels, plus a private yoga studio and a full-scale fitness center. The facility was built by Caledonia Builders Inc. and the climbing walls were built by Walltopia. Michael Gorman and Stephen Carrozza of Metro Commercial Real Estate represented Cliffs in the …

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EntertainmentFeaturesGeorgiaNewsRetailersSCBlog

Sports Entertainment Provides a Promising Future for Retail Real Estate

by Alex Tostado

Atlanta — The future of food and beverage retail is…sports? To hear from “The Future of Restaurants & Entertainment” panel at the ICSC Southeast Conference & Deal Making event, sports-centric concepts are a solid bet for retail real estate owners to pursue going forward. Produced by the International Council of Shopping Centers (ICSC), the event was held Nov. 13-15 at the newly renovated Georgia World Congress Center in downtown Atlanta. Justin Amick, president of Painted Hospitality, spoke during the panel about his two venues in Atlanta, The Painted Pin and …

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DevelopmentEntertainmentNewsRetailersTexas

Fun Movie Grill to Open 70,000-Square-Foot Venue at Mustang Square in Plano, Texas

by Alex Tostado

Plano, Texas — Fun Movie Grill, an entertainment concept that combines food, bowling, movies and games, will open a 70,000-square-foot venue in Plano. The eight-screen location will be part of Mustang Square, a 36-acre mixed-use development that will include 90,000 square feet of office space, hotels, residential villas and townhomes and a public plaza. Dan Avnery and Stewart Korte of NAI Robert Lynn represented the tenant and the landlord, Thakkar Developers, which broke ground on Phase I of the project in October, in the lease negotiations. The venue, which is …

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