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Tropical-Smoothie-Cafe
Company newsGeorgiaNew YorkNewsRestaurants

Blackstone Agrees to Acquire Tropical Smoothie Cafe for Nearly $2 Billion

by Hayden Spiess

Atlanta and New York City — Blackstone has entered into a definitive merger agreement to acquire Tropical Smoothie Cafe, a franchiser of fast-casual restaurants, from Levine Leichtman Capital Partners. The deal values the Atlanta-based smoothie chain at around $2 billion, including debt, according to The Wall Street Journal. Tropical Smoothie Cafe began as a single location in Destin, Florida, in 1997. The chain has grown to more than 1,400 locations in 44 states today. The company opened more than 175 locations in 2023, 70 percent of which were opened by existing franchisees. …

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GeorgiaInvestment salesNews

Marcus & Millichap Brokers $8.4 Million Sale of Retail Center in Metro Atlanta

by Hayden Spiess

Johns Creek, Ga. — Marcus & Millichap has brokered the $8.4 million sale of Jones Bridge Triangle, a retail center located in Johns Creek, roughly 30 miles outside Atlanta. The unanchored property, which totals 33,133 square feet, was fully leased to 15 tenants at the time of sale. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor. 

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Topgolf-Venue
CaliforniaEntertainmentNews

Topgolf to Open 70,000-Square-Foot Venue Near Los Angeles

by Hayden Spiess

Montebello, Calif. — Topgolf will open a new, 70,000-square-foot venue in Montebello, approximately 10 miles outside downtown Los Angeles. Upon completion, the facility will feature 102 outdoor climate-controlled hitting bays across three levels, as well as a full-service restaurant, 200 televisions, a 28-foot video wall, outdoor patio, rooftop terrace and private event rooms. Scheduled to open in May, this will mark the third Topgolf venue to be located in the Los Angeles metro. 

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Canada-Goose-Ala-Moana-Center_Honolulu
HawaiiLeasingNews

Three Retail Tenants Sign Leases at Ala Moana Center in Hawaii

by Hayden Spiess

Honolulu — Three new retail tenants have signed leases at Ala Moana Center, a 2.4 million-square-foot shopping center located in Honolulu. Footwear and apparel concept HOKA and watch retailer Panerai are both scheduled to open at the propery in May, with Cat Café Moff opening in June. Other recent tenant openings at the center include Canada Goose, Body Balance, KaiAloha Supply, Ringer Hut, Sugar Factory American Brasserie and Sweet As. Bloomingdale’s, Neiman Marcus, Nordstrom, Macy’s and Target anchor the property, which was originally developed in 1959. 

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LeasingLouisianaNews

Three Abercrombie & Fitch Co. Concepts to Open at Lakeside Shopping Center in Metro New Orleans

by Hayden Spiess

Metairie, La.— Three new tenants, all divisions of Abercrombie & Fitch Co., will open at Lakeside Shopping Center, a 1.2 million-square-foot retail center located in Metairie, roughly eight miles outside downtown New Orleans. Abercrombie & Fitch, abercrombie kids and Hollister Co. are scheduled to open at the property this summer. The stores will feature updated prototype formats for the respective brands. Abercrombie & Fitch Co. operates more than 750 stores under these banners throughout North America, Europe, Asia and the Middle East. 

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Woodbury Common Premium Outlets
DevelopmentNew YorkNews

Simon Underway on Expansion at Woodbury Common Premium Outlets in New York

by Hayden Spiess

Woodbury, N.Y. — Simon is underway on an expansion project at Woodbury Common Premium Outlets in Woodbury. A VIP suite with private dressing rooms, a lounge and a private kitchen is scheduled to open later this year. The multimillion-dollar suite will host private events and offer personalized service and customer experiences. Plans at the property, which features 250 tenants, also include 155,000 square feet of new retail and restaurant space, as well as a 200-room hotel, second parking facility and upgraded amenities. Amenities will include a new children’s play area, improved …

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ColoradoFaris Lee InvestmentsInvestment salesNews

Faris Lee Brokers $14.4M Sale of Thornton Town Center in Metro Denver

by Hayden Spiess

Thornton, Colo. — Faris Lee Investments has brokered the sale of Thornton Town Center, a 265,181-square-foot retail center located in Thornton, a suburb north of Denver. A Southern California-based private investor sold the property to a Southern California-based value-add investor for $14.4 million. Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal.

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Grocery-anchoredInvestment salesNewsTennessee

PEBB, Sembler Co. Sell Portion of Westview Plaza in Tennessee for $5.6 Million

by Hayden Spiess

Lebanon, Tenn. — A joint venture between PEBB Enterprises and The Sembler Co. has sold a property located within Westview Plaza in Lebanon for $5.6 million. Tenants at the 22,000-square-foot portion of the retail center include China Wok, Mysa Nails & Spa, T-Mobile and Petco. Berkeley Capital Advisors represented the joint venture in the sale. Compass Real Estate represented the buyers, Westview Investment and AMB Investment. Other tenants at Westview Plaza, which comprises 18 acres, include Subway, GNC, Great Clips, Bank of America and Kroger. 

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Company newsNew JerseyNew YorkNews

Foot Locker Introduces New Store Format

by Hayden Spiess

New York City — New York City-based footwear retailer Foot Locker has introduced a new store format, debuting the design at its location within Willowbrook Mall in Wayne, New Jersey. Features of the new format include a more streamlined store layout, dedicated sections for new product releases, enhanced presentation, a communal try-on are, omnichannel technology and a “sneaker hub” with lacing customization and expanded ordering options. Foot Locker plans to open additional stores with this design throughout 2024, including at the retailer’s flagship location in New York City. Additionally, the brand …

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KCCurrentDistrict
DevelopmentMissouriMixed-useNews

Kansas City Current Plans $800 Million Riverfront Mixed-Use Development

by Hayden Spiess

Kansas City, Mo. — The Kansas City Current, a professional women’s soccer team famously part-owned by Brittany Mahomes, has unveiled plans for an $800 million mixed-use project on the Missouri riverfront in downtown Kansas City. The development follows completion of CPKC Stadium, a women’s soccer stadium that seats 11,500 people, in March. According to the project team, the $120 million venue is the first soccer stadium to be designed and built exclusively for women. Partners for the mixed-use project include Palmer Square Capital Management, Marquee Development and the Port Authority of …

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