New Orleans — As legacy retailers continue closing stores and mall and mixed-use developers face the prospect — and reality — of vacant store spaces, specialty leasing and business development teams are becoming more important. The millennial consumer, who can buy almost anything online, needs a good reason to visit a property. Malls and shopping centers that will thrive in this climate will deliver exceptional ancillary retail experiences and come up with new reasons to attract visitors. “Ancillary” can mean pop-up stores, sponsorships, events or any other revenue sources outside …
Entertainment
Charlotte, N.C. — Topgolf Entertainment Group will open its second Topgolf venue in Charlotte by the end of the year. The new location will be dubbed Topgolf North Charlotte and will be situated at the intersection of Interstate 85 and University City, near University of North Carolina-Charlotte, Charlotte Motor Speedway and Northlake Mall. Topgolf North Charlotte will sit on 14 acres and is expected to create 500 jobs. Topgolf opened its first Charlotte venue two years ago at 8024 Savoy Corporate Drive in the southwestern part of the city.
VICI Properties Completes Acquisition of JACK Cleveland Casino, Thistledown Racino for $843.3 Million
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 …
VCC Partners, Shamin VCC Acquire Former Macy’s in Virginia, Plan to Redevelop into Sports Complex
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.
CBL Inks Lease with Dave & Buster’s at Cross Creek Mall in Fayetteville, North Carolina
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 & …
Unibail-Rodamco-Westfield to Redevelop 160,000-Square-Foot Former Los Angeles Sears Store into Dining, Entertainment District
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 …
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 …
IT’SUGAR to Premiere at 22,000-Square-Foot Store within American Dream in East Rutherford, New Jersey, on Dec. 14
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 …
Triple Five Group Launches 180,000-Square-Foot Big Snow Slope at American Dream in New Jersey
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 …
Cliffs Climbing + Fitness to Open 40,000-Square-Foot Facility in Philadelphia on Dec. 7
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 …