San Diego — San Diego-based Jack in the Box has announced plans to open 15 restaurants in Georgia, marking the first entry into the state for the fast-casual brand. New sites have not yet been selected, but plans include a focus on the Macon, Augusta and Savannah markets. A franchisee will own and operate the restaurants. Jack in the Box also recently announced a commitment to 30 new units in Florida.
Dunwoody and Marietta, Ga. — Walmart has announced plans to close two stores located in metro Atlanta. A Walmart Supercenter in Dunwoody, Georgia, and Walmart Neighborhood Market in Marietta, Georgia, will close on July 12. According to a statement from the company, which operates 213 Walmart and Sam’s Clubs stores in the state, there are no additional closures planned at this time.
Morrow, Ga. — ShopOne Centers REIT and Pantheon, with a global institutional investor, have acquired Publix at Mt. Zion, a 79,031-square-foot retail center located in Morrow, roughly 15 miles south of Atlanta. Publix anchors the property, which was 98.9 percent leased at the time of sale. The grocer has operated at the property for more than 30 years. The joint venture owns three additional retail properties in the Atlanta metro, including Sharon Greens in Cumming, Bethesda Walk in Lawrenceville and Kennesaw Walk in Kennesaw.
Atlanta — Walmart will open a 75,000-square-foot Walmart Neighborhood Market store in the Vine City neighborhood of Atlanta. Previously, the brand operated a Supercenter store at the property, which closed in December 2022 due to fire damage. The new store will feature a full-service deli, money center, expanded bakery, online pickup and delivery service and a health service room. Scheduled to open on Wednesday, May 22, this marks Walmart’s first conversion of a Supercenter store to a Neighborhood Market store.
Peachtree City, Ga. — Six new tenants have signed leases at The Avenue Peachtree City, a shopping center located in Peachtree City, roughly 40 miles outside Atlanta. Beignets and Brew is now open at the property, with HOBNOB Neighborhood Tavern scheduled to open a 5,781-square-foot restaurant later this month. Kendra Scott, Motivate Studios and 9292 Korean BBQ have also signed leases at the center and will occupy 2,000; 2,000; and 8,015 square feet, respectively, beginning this summer. Additionally, Arhaus will open a 7,085-square-foot store at The Avenue Peachtree City later this …
Douglasville, Ga. — Franklin Street Retail Investment Sales has brokered the sale of Market Square, a 116,766-square-foot retail center located in Douglasville, roughly 20 miles outside Atlanta. An entity doing business as SCC Market Square LLC sold the property to BC Waycross Spring Hill LLC. Tenants at the property, which was built in 1984 and renovated in 2019, include Aaron’s, YouFit, Pet Supermarket and Davita Dialysis. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction.
Atlanta — Atlanta-based fast-casual brand Chick-fil-A will open four new restaurants in metro Miami. Chick-fil-A has broken ground on the first of the units, which will comprise 4,800 square feet in Cutler Bay. Dustin Griffiths of Chick-fil-A and David Emihovich of Katz & Associates represented Chick-fil-A in the lease negotiations. Michael Berkowitz of Berkowitz Development Group and Douglas Landsea of Landsea Development are the landlords. Development is scheduled to begin on three additional restaurants — which will be located in Miami Shores, Pinecrest and Princeton — later this year.
Columbus, Ohio — Ohio-based BWE has arranged loans totaling $40.2 million for four properties located in California. The deals included a $12.3 million bridge loan for the acquisition and redevelopment of a retail property located in Rancho Palos Verdes. The property, which was 67 percent preleased at the time of financing, is anchored by O’Reilly Auto Parts. Other tenants include Habit Burger, Mattress Firm, Urbane Café and California Fish Grill. Mike Guterman of BWE secured the financing through Calmwater Capital on behalf of the borrower, West Hive Capital. BWE also secured …
Atlanta and New York City — Blackstone has entered into a definitive merger agreement to acquire Tropical Smoothie Cafe, a franchiser of fast-casual restaurants, from Levine Leichtman Capital Partners. The deal values the Atlanta-based smoothie chain at around $2 billion, including debt, according to The Wall Street Journal. Tropical Smoothie Cafe began as a single location in Destin, Florida, in 1997. The chain has grown to more than 1,400 locations in 44 states today. The company opened more than 175 locations in 2023, 70 percent of which were opened by existing franchisees. …
Johns Creek, Ga. — Marcus & Millichap has brokered the $8.4 million sale of Jones Bridge Triangle, a retail center located in Johns Creek, roughly 30 miles outside Atlanta. The unanchored property, which totals 33,133 square feet, was fully leased to 15 tenants at the time of sale. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor.