Chattanooga, Tenn. — Four new tenants will join Hamilton Place in Chattanooga. Crunch Fitness will open a 35,000-square-foot location at the property, and restaurants Texas Roadhouse, Taco Mamacita and Community Pie have also signed leases. Construction on the Crunch Fitness space is scheduled to begin in August, with the opening planned for later this year. Work is currently underway on Community Pie and Taco Mamacita, which will open in July and next year, respectively. Texas Roadhouse is also scheduled to open next year, with construction anticipated to begin later this month. …
Chicago — A joint venture between Hubbard Street Group and College Park Athletic Clubs has announced plans to open a 41,000-square-foot pickleball-themed sports and entertainment center in Chicago. Dubbed Pickle Haüs, the concept will occupy a former retail store and feature 12 indoor pickleball courts, three golf simulators, an outdoor patio and a bar, entertainment and event space. Hubbard Street has owned the vacant building since 2018, and construction is currently underway on the property. The project team also includes Food is Family, Harken Interior Design, Hirsch MPG, William A. Randolph …
Miami Beach, Fla. — Eight new tenants have signed leases at the promenade along Lincoln Road in Miami Beach, which features more than 200 shops, cafés, galleries and restaurants across eight blocks. Paris St. Germain, Habitat Hyett, The Cheesecake Factory, Ecco, BonBon Etc., Osteria da Fortunata, Voyage Luggage and Salt & Straw will open locations at the promenade beginning this summer.
New York City — Patis Bakery will open two food-and-beverage concepts totaling 5,110 square feet at 203 Jay Street, a 72,000-square-foot mixed-use development in Brooklyn. Beginning this fall, Patis will operate a full-service restaurant as well as a separate café and bakery in the eight-story building. AmTrust RE is the landlord at the property.
Bellevue, Wash. — T&T Supermarkets has announced plans to open a 76,000 square foot store in Bellevue, roughly 10 miles east of Seattle. Scheduled to open next summer at the Marketplace at Factoria, the store will mark the first U.S. location for the brand. John Booth of Kidder Mathews represented T&T in the leasing negotiations.
Greenville, S.C. — RocaPoint Partners has signed Perch Kitchen & Tap to open a restaurant and brewery at Greenville County Square, a $1 billion mixed-use development in Greenville. Perch Kitchen & Tap is the first committed food-and-beverage tenant and will join Whole Foods Market in the development’s first phase. Palmetto Brewing Co. is partnering with Perch to operate the restaurant’s brewery portion. The new restaurant and brewery will feature 7,200 square feet of indoor dining and kitchen space and a 2,100-square-foot outdoor patio.
Leasing activity, occupancy and capital markets demand for multi-tenant retail remain strong, but interest rate hikes have brought transactions to a halt. “On the supply side, we just aren’t seeing a lot of listings out there,” says Patrick Kelley, associate vice president with Northmarq. “There is not a lot of activity in terms of sales,” explains Ernest DesRochers, senior vice president and managing director with Northmarq. “Buyers are looking for shorter-term financing, being able to prepay with little or no penalty, and hoping to take advantage of lower rates in …
“Retailers are doing well, but growth is challenging as there isn’t much space to be had,” says Greg Eisenman, managing director of retail tenant services at Franklin Street. There is a major appetite for deals, but interest rates and construction costs have made development difficult, so it is taking longer for retailers to find space and close deals. The challenges are part of the overall historical retail cycle, explains Eisenman. “As brokers, we have to get a lot more creative, and just continue to dig deeper and harder. Nothing’s coming …
Columbus and Maineville, Ohio — The Dowd Cos. has arranged the sale-leaseback of two Children of America schools in Ohio for $6.9 million. The properties total 21,949 square feet. John Dowd and Theresa Johnson of Dowd Cos. represented Children of America in the 1031, all-cash transaction. Children of America maintains more than 65 locations in 15 states with 13 new properties under development.
Eden Prairie, Minn. — Three new restaurant concepts will open at Eden Prairie Center, a 1.4 million-square-foot retail center located in the southwest Minneapolis suburb of Eden Prairie. Gyu Mai Japanese BBQ and Ichiddo Ramen will open within a dual-concept space comprising 7,996 square feet, with both concepts scheduled to open in December of this year. Starting in July, Where’s The Flour?, a gluten-free fast-casual restaurant, will lease 808 square feet within the development’s food court. Additionally, Café Viola will open a coffee kiosk and occupy 252 square feet, beginning …