Alice, Texas — Hanley Investment Group has arranged the sale-leaseback of a single-tenant retail property located in Alice. Dairy Queen occupies the 2,608-square-foot building on a 20-year absolute triple-net lease basis which includes 2 percent rent increases every five years. Originally built in 1983 and renovated in 2015, Dairy Queen has operated at this location for more than 30 years. Garrett Wood of Hanley represented the seller, R&L Lozano Leasing, a company doing business as F&P Development. David Bynum of Bynum Inc. represented the buyer, an entity doing business as Susan …
Leasing
Seritage Growth Signs Leases with 17 New Tenants at Esplanade at Aventura in Metro Miami
Aventura, Fla. — Seritage Growth Properties has signed leases with 17 new tenants at Esplanade at Aventura, its 215,000-square-foot mixed-use development located in the northeastern Miami suburb of Aventura. Retail and restaurant concepts including The Salty, If So, Chip City and The Shade Store recently opened at the property, while Tremble, Bank of America and Hästens will open this summer. Pura Vida Miami, Salt & Straw, Starbucks Coffee, Wairua Beauty and Next Health are expected to open this fall. Additional stores that will be arriving later in the year include 7th …
Bowling Green, Ky. — Dallas-based Centennial has been selected to provide management and leasing services for Greenwood Mall, an 851,576-square-foot regional mall in Bowling Green. Greenwood Mall, which is currently in receivership, will remain open and operational throughout the management transition. Greenwood Mall features more than 80 tenants such as Dillard’s, JCPenney, Belk, American Eagle, Bath & Body Works, Hibbett Sports, Victoria’s Secret, Suki Hana Japan, Subway, Sbarro, Auntie Anne’s and Cinnabon, as well as a 12-screen Regal Cinemas movie theater. Centennial currently operates 23 million square feet of mixed-use developments …
Tempe, Ariz. — Four new tenants have signed leases to join Tempe Marketplace, a 1.3 million-square-foot shopping center located in Tempe. Lovisa Jewelry has already opened at the property, while Relive Med Spa will be opening this fall. Sam’s Club will open in two phases, beginning with its members-only fuel station on June 13, followed by the store’s opening in early August. Carhartt will also open its first Phoenix location at the end of the year. The mix of new tenants will comprise more than 150,000 square feet. Featuring more …
Salem, N.H. — Five new tenants have signed leases to join The Mall at Rockingham Park, a 1 million-square-foot regional shopping center located in Salem, roughly 30 miles north of Boston. LOFT has already opened at the property, while Kendra Scott and OFFLINE by Aerie will be opening in the fall. Caffe Nero and Five Below are expected to open this summer. Additionally, Lululemon plans to expand its current retail space at the property. Simon owns and operates The Mall at Rockingham Park, which comprises more than 150 stores. Construction …
Midway Plans 17-Acre Central Park Post Oak Mixed-Use Redevelopment Project in Uptown Houston
Houston — Houston-based Midway, in collaboration with 3Edgewood and Parkway, has unveiled plans for Central Park Post Oak, a mixed-use redevelopment project located in Houston’s Uptown District. Formerly Post Oak Central, the co-developers will revitalize the 17-acre campus to include additional retail, new restaurants and green space. Midway and Parkway formed a joint venture to acquire the campus in October 2023 before recently buying out their investment partners. Developed by Gerald D. Hines Interests in the 1970s, the campus currently contains three office buildings totaling 1.2 million square feet and 90,000 square …
Brookline, Rhino Investments to Renovate 778,000-Square-Foot Shopping Center in Metro Chicago
Bolingbrook, Ill. — Brookline Real Estate has partnered with Rhino Investments Group to renovate The Promenade Bolingbrook, a 778,000-square-foot shopping center located in the Chicago suburb of Bolingbrook. Brookline has been hired to oversee leasing and lead a new vision for the open-air lifestyle center with a refreshed mix of retail, service, restaurants and experiential offerings. The center is anchored by Macy’s and Bass Pro Shops, and includes a number of specialty retailers including H&M, Ulta Beauty, DSW, Barnes & Noble, Lane Bryant, Pandora and Victoria’s Secret.
Grossman Development Signs Eight New Tenants to Join Gallatin Valley Mall Redevelopment Project in Bozeman, Montana
Bozeman, Mont. — Grossman Development Group has signed eight new tenants to join Gallatin Valley Mall, a 315,000-square-foot regional shopping center undergoing redevelopment in Bozeman. New retailers at the $100 million multi-phase project, which will be called Gallatin Crossing, include Arhaus, lululemon, Pandora, Sephora, Anthropologie, Free People, Lovesac and Madewell. The mixed-use project’s 45,000-square-foot Medical Pavilion, which houses Intermountain Health, Ortho Montana and Gallatin Valley Surgery Center, opened in August 2024, while High Street, an outdoor retail experience, is set to open in summer 2025. Other tenants at the property …
West Palm Beach, Fla. — Four new tenants have signed leases to join Nora District, a $1 billion mixed-use project underway in downtown West Palm Beach. The new tenants — Luce, Pompanos Boutique, SWEAT440 and Warby Parker — will debut at Nora District this fall. Developed by West Palm Beach-based NDT Development, Place Projects and Greenwich, Connecticut-based Wheelock Street Capital, Nora District’s first phase — which will be delivered this summer — totals more than 100,000 square feet of retail and 55,000 square feet of creative office space. Additional confirmed tenants at the property …
Hanley Investment Group Arranges $6.1 Million Sale of 9,990-Square-Foot Retail Property in Metro Sacramento
Elk Grove, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.1 million sale of a newly constructed, 9,990-square-foot single-tenant retail property located in the Sacramento suburb of Elk Grove. The Learning Experience, an early childhood education and childcare center, occupies the building on a 17-year corporate lease with 6 percent rent increases every five years. Completed in 2022, the Elk Grove facility is operated by the chain’s largest franchisee. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller, Armstrong Development Properties, in the transaction. …