New York City — Chick-fil-A and dog-daycare concept Hounds Town USA have signed leases at 809 Atlantic Ave., a 60,000-square-foot mixed-use property in Brooklyn in New York City. Chick-fil-A will occupy 5,000 square feet, with Hounds Town USA occupying 6,000 square feet within the building, which also features residential, amenity and healthcare space. David Alani and Michael Friedman of Inline Realty represented Chick-fil-A in the lease negotiations, and JLL represented the landlord, Hope Street Capital.
Charlotte, N.C. — Three new retailers have signed leases at The Pass, a mixed-use development currently underway in Charlotte. Vintage sportswear concept Locker Room CLT opened at the property in February, and hair salon Common Thread and Mariah’s Taco Spot are scheduled to join the lineup this fall. Third & Urban is the developer of the 12-acre project, and Cliff Benson of Thrift Commercial Real Estate leads retail leasing for the property.
Venice, Fla. — Benderson Development has acquired a 51.5-acre parcel in Venice, Florida, with plans to develop a ground-up mixed-use project at the site. The property has been dubbed North River Marketplace during preliminary master planning. Benderson also owns the nearby retail properties Jacaranda Plaza and Cocoplum Village Shops.
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Franklin Street: How to Navigate Current Retail Challenges and Future Opportunities
At the ICSC LAS VEGAS 2024 conference, Nelli Day of Retail Insight interviewed Monetha Cobb, chief marketing officer, and Greg Matus, senior vice president of investment sales, of Franklin Street, to discuss the prevailing challenges and future trends in the retail industry. Key Challenges in Retail The primary hurdle in the retail sector is the fluctuating market and rising interest rates, which have significantly slowed down transactions. Investors and developers are finding it tougher to secure deals as banks enforce stricter lending criteria. Despite a slight uptick in activity, …
Queen Creek, Ariz. — Development firm Creation is set to break ground on The Switchyard, a $120 million mixed-use development located at the northeast corner of Ellsworth and Ocotillo roads in the Phoenix suburb of Queen Creek. Plans for the 10-acre project include the development of 54,000 square feet of restaurant, retail, residential and office space. The retail portion of the development will include a 3,800-square-foot Postino wine café and an 11,900-square-foot restaurant called The Porch, which will include an expansive outdoor patio. Creation plans to break ground on the multi-phase …
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 …
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Moreno Valley: Hub for Growth and Opportunity
Located in Southern California’s Inland Empire, Moreno Valley has emerged as a significant growth center and a friendly home to retail. As highlighted by Melissa McClain, head of marketing & business attraction for the city, the area’s robust development is driven by substantial job creation and strategic planning. “Truly the catalyst for the growth in Moreno Valley has been jobs. We’ve created more than 34,000 jobs in the last eleven years. And because of that, we now have more than 7,700 single-family and multifamily residential units that are either …
Silver Spring, Md. — MCB Real Estate has unveiled plans to develop VIVA White Oak, a 280-acre mixed-use project anchored by healthcare space in Silver Spring, approximately six miles north of downtown Washington, D.C. Plans call for 3 million square feet of lab, office, research and medical space; 525,000 square feet of retail; 3,000 square feet of hotel space; 75,000 square feet of senior living; 4,500 private residences; and 85 acres of open space. MCB is currently working with stakeholders and public officials to refine the specifics, but the healthcare component …
San Diego — Marcus & Millichap has brokered the sale of Fifth and Penn, a 2,867-square-foot mixed-use property located in San Diego. Built in 1931, the property comprises retail, office and residential space. Ross Sanchez and Nick Totah of Marcus & Millichap represented the seller, Tom Fine, in the transaction. Daniel Heimler of DAH Penn LLC acquired the property for an undisclosed price.
Fort Lauderdale, Fla. — A joint venture between BH Group, PEBB Enterprises and Related Group is set to begin the mixed-use redevelopment of The Quay shopping center in the Harbordale neighborhood of Fort Lauderdale. The joint venture recently acquired the 73,000-square-foot center for $48.5 million. Located at 1515 SE 17th St., the property currently features restaurants, retail space, a marina and a two-story office building. Redevelopment plans for the seven-acre site include the addition of up to 361 residential units and 12,000 square feet of retail and restaurant space. The existing …