Highland Village, Texas — Two new tenants have opened stores at The Shops at Highland Village, a retail center in Highland Village. Fitness Studio Body20 and beauty treatment center OrangeTwist now occupy 2,000 and 2,300 square feet at the center, respectively. Restaurant Drago House will also join the lineup later this year. JLL manages the property.
Chicago — Cushman & Wakefield has arranged three leases in Chicago on behalf of SweatHouz, a sauna and cold-plunge wellness concept. SweatHouz will occupy spaces ranging from 2,000 to 7,000 square feet in the Old Town, West Loop and Lakeview East neighborhoods. Anthony Ciaravino of Cushman & Wakefield represented the tenant in the lease negotiations.
Phoenix — Sprouts Famers Market will open a new, 28,000-square-foot store in Phoenix on June 14. Located in Tramonto Marketplace, the store will be situated within a space formerly occupied by Bed Bath & Beyond. Diversified Partners is the landlord and developer of the property.
At the ICSC LAS VEGAS 2024 conference, Nellie Day from Retail Insight spoke with Nate Tower, president and founder of Broad Reach Retail Partners, to explore the evolving landscape of retail and upcoming trends in the space. Broad Reach Retail Partners focuses on revitalizing underperforming shopping centers via a holistic, full-cycle approach that considers leasing, management, construction and acquisition. Tower emphasizes the importance of assessing a matrix of key performance indicators (KPIs) — including capital requirements, tenant mix and market demographics — to develop and execute effective business plans …
Sandy Sigal argues that the evolving fields of automation and artificial intelligence (AI) are a perfect fit for retail. “We generate the most relevant data on an everyday basis, and that data affects the outcomes and success of our centers,” explains Sigal. In a discussion on the pivotal role of technology in the retail sector, Sigal emphasizes that understanding customer behavior is paramount for shopping center owners. By leveraging technology to track customer movement and sentiment — where they come from, how long they stay, how they feel about …
Orlando, Fla. — Target will open a 150,000-square-foot store at Lake Nona West, marking the first anchor tenant at the 405,000-square-foot shopping center project in Orlando. Situated on 54 acres near the Brightline Station and Orlando International Airport, the development is scheduled for completion in fall 2025. Tavistock Development is the developer and landlord.
Greensboro, N.C. — Tanger has announced an expansion of its partnership with Sephora, which will bring the beauty retailer to five additional Tanger properties this year. Averaging 5,000 square feet, the stores will be located in Charleston, South Carolina; Deer Park, New York; National Harbor, Maryland; Palm Beach, Florida; and Glendale, Arizona. Sephora is currently open at Bridge Street Town Centre in Huntsville, Alabama, which Tanger acquired in late 2023.
Mount Pleasant, S.C. — Trader Joe’s has signed a lease to open a new store at Sweetgrass Corner, a 90,000-square-foot shopping center located in Mount Pleasant, roughly five miles outside downtown Charleston. The grocer will occupy 14,000 square feet at the property, which is owned by Continental Realty Corp. (CRC). Trader Joes, which operates more than 570 stores throughout the country, will be situated within a portion of the space left vacant by the closure of BI-LO in 2019. The new lease brings the center’s occupancy to 82 percent. CRC acquired …
West Palm Beach, Fla. — Four new retail tenants have signed leases at The Nora District, a mixed-use development currently underway in West Palm Beach. Sana Skin Studio, Mint, The Spot Barbershop and Del Mar Mediterranean Restaurant will join the lineup at the property, the first phase of which is scheduled for completion in early 2025. Other retail concepts will include Loco Taqueria & Oyster Bar, H&H Bagels, Van Leeuwen Ice Cream, The Garret Group, Juliana’s Pizza, Celis Juice Bar and Café, Rumble and [solidcore]. NDT Development, Place Projects and Wheelock …
Chanhassen, Minn. — Minnesota-based Life Time Group Holdings, which operates more than 170 fitness centers throughout the U.S. and Canada, has completed a $40 million sale-leaseback transaction at one of its locations. The property was acquired by an institutional real estate investor that owns another Life Time facility. The proceeds will be used to “support growth and strengthen [Life Time’s] balance sheet,” according to a press release issued by the company.
