Jericho, N.Y. — New York-based Kimco Realty has added nine new tenants to five of its shopping center properties throughout the state of Washington. Holiday China, Sushi Omiya, Sam Income Tax and Magikid Robotics Lab have signed leases at The Marketplace at Factoria in Bellevue and will occupy 1,121; 2,458; 832; and 1,405 square feet, respectively. Food-and-beverage tenants Taco Bell and Emerald City Smoothie will join Pavilions Centre in Federal Way and Gateway Shopping Center in Mill Creek. Taco Bell will occupy 2,680 square feet, beginning this fall, and Emerald City …
Houston — Hospitality group Noble 33 will open a new restaurant at The Pavilion at The Allen in Houston June 4. Toca Madera, a Mexican steakhouse, will span 14,000 square feet, with a 393-seat capacity. The restaurant will feature an outdoor dining patio, two full-service bars, a private member’s club and a private dining room.
Cherry Hill, N.J. — Five new tenants have signed leases totaling 30,000 square feet at Cherry Hill Mall, a 1.4 million-square-foot shopping center located in Cherry Hill. Alo Yoga, Kendra Scott and Signature Workspace are scheduled to open at the property this year. Dry Goods and Rowan have also signed leases at the center, with the latter scheduled to open next spring. PREIT owns and manages the property.
Houston — Eco Thrift, a merchandiser of secondhand goods, has signed a 29,250-square-foot lease at Willowbrook Plaza in northwest Houston. AMC Theatres, Bed Bath & Beyond, buybuyBaby and World Market anchor the 392,542-square-foot power center. Austen Baldridge and Bob Conwell of NewQuest Properties represented the tenant in the lease negotiations. Radkey Jolink, Bruce Wallace and Cole Rainer of Jolink Wallace Commercial represented the landlord.
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 …
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NewMark Merrill: AI, Automation Will Benefit In-Person Retail
Automation is not only here to stay — it’s here to make the tasks of owning, operating, marketing and leasing a shopping center easier. That is the view of Sandy Sigal, chairman, CEO and president of Calabasas, Calif.-based NewMark Merrill Companies. “I see automation as a net positive,” he explains. “The efficiency level inside shopping centers is going to go way up. Customer satisfaction levels are going to go way up too.” Sigal envisions a future where personalization, driven by artificial intelligence (AI), transforms the shopping experience, offering tailored recommendations and …
Wrentham, Mass. — Five new tenants have signed leases at Wrentham Village Premium Outlets in Wrentham. Pottery Barn is scheduled to open later this month at the property, which is also home to sister brand West Elm Outlet. Apparel retailers OFFLINE by Aerie, Hollister Co. and Gilly Hicks have also signed leases at the property. OFFLINE by Aerie will open this summer, and Hollister Co. and Gilly Hicks are scheduled to open this fall. Additionally, Shake Shack will open a restaurant in late winter of this year. Wrentham Village Premium Outlets …
Canton, Mich. — Michaels has signed a 17,514-square-foot lease at Premier Center, a shopping center located in Canton. The new lease brings the property to full occupancy. Other tenants at the center include Kroger, Home Depot and Dick’s Sporting Goods. First National Realty Partners (FNRP) is the landlord.
No matter the economic climate, the formula for creating value in properties will always be a retail property owner’s best friend. That’s why Broad Reach Retail Partners uses a multi-faceted approach that includes data-driven key performance indicators (KPIs) to drive their plans of action, strategic redevelopment and ongoing budget updates that optimize net operating income (NOI). “Through focused management, leasing and discipline, we create value, and we are able to return those dividends to our partners, properties and people,” says COO Mike Castellitto. “We have seen time and time again …
New York City — Brooklyn Fare Kitchen & Market has opened a 25,500-square-foot store within One Manhattan Square, an 800-foot-high residential tower located in Manhattan in New York City. This marks the largest New York City store to date for the grocer, which offers prepared foods, fresh bread, sushi, a deli, produce, frozen foods and organic products. The store also features a coffee bar. Other Brooklyn Fare locations in the city include Brooklyn, The West Village and Lincoln Square.