Thursday, March 27, 2025
Read the Digital Magazines
Subscribe

New York

Family Dollar
Company newsNew YorkNewsOperationsVirginia

Dollar Tree to Sell Family Dollar Business for $1 Billion

by Abby Cox

Chesapeake, Va. and New York City — Dollar Tree Inc. has agreed to sell the Family Dollar business segment to Brigade Capital Management LP and Macellum Capital Management LLC for $1 billion. The sales price represents a fraction of the $8.5 billion that Dollar Tree paid for the discount brand in 2015. Family Dollar will remain headquartered in Chesapeake. Family Dollar, which caters to low-income customers with its roughly 8,000 U.S. stores, has struggled in recent years. In March 2024, Dollar Tree unveiled plans to close approximately 970 underperforming Family Dollar …

Continue Reading
0 FacebookTwitterLinkedinEmail
Meow Wolf
Architecture and DesignCompany newsDevelopmentEntertainmentNew YorkNews

Meow Wolf to Open 75,000-Square-Foot Entertainment Venue in Lower Manhattan

by Abby Cox

New York City — Immersive arts and entertainment company Meow Wolf will open a 75,000-square-foot entertainment venue in Lower Manhattan. The space will span multiple stories within Pier 17, an entertainment destination in the Seaport District. Construction is scheduled to begin in the third quarter of 2025, with an expected completion date to be announced later. Founded in 2008 in Santa Fe, New Mexico, Meow Wolf has expanded to Las Vegas, Denver, Dallas and Houston, with additional locations in Los Angeles and now, New York City. Mary Ann Tighe, Gerry Miovski, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsIllinoisNew YorkNews

Sycamore Partners Agrees to Acquire, Privatize Drugstore Giant Walgreens in Multibillion-Dollar Deal

by Abby Cox

Deerfield, Ill. and New York City — Walgreens Boots Alliance (WBA) has entered into a definitive agreement to be acquired by an entity affiliated with private equity firm Sycamore Partners. The total value of the transaction is $23.7 billion, according to WBA, including an equity value of $10 billion, as well as debt, capital leases and potential future payouts from the opioid and Everly Health Solutions COVID-19 testing settlements. Upon completion of the transaction, which is expected to close in the fourth quarter of 2025, WBA common stock will be …

Continue Reading
0 FacebookTwitterLinkedinEmail
Retail property in Queens
Investment salesNew YorkNews

Marcus & Millichap Brokers Sale of 14,257-Square-Foot Retail Property in Queens

by Abby Cox

Queens, New York — Marcus & Millichap has brokered the $4.4 million sale of a 14,257-square-foot retail property in the Jamaica neighborhood of Queens. The three-story property, which was vacant at the time of sale, features 9,280 square feet of ground-floor retail space and roughly 5,000 square feet on the top floors of the building. The property also includes up to 61,920 buildable square feet for residential use. Scott Plasky and Billy Stephan IV of Marcus & Millichap’s Manhattan office marketed the property on behalf of the undisclosed seller and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Grocery-anchoredInvestment salesNew YorkNews

Marcus & Millichap Arranges $5.2 Million Sale of Retail Property in Queens

by Abby Cox

Queens, New York — Marcus & Millichap has arranged the $5.2 million sale of a 9,640-square-foot retail property located along Queens Boulevard in Rego Park. The property is anchored by CTown Supermarket and features three additional service-oriented tenants and 100 feet of retail frontage. Joseph French Jr. and Kodi Traver of Marcus & Millichap’s Westchester office marketed the property on behalf of the seller and procured the buyer, both private investors, in the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
Fountain Square in Brookfield, Wisconsin
Company newsGeorgiaNew YorkNews

Global Net Lease Agrees to Sell 100-Property Multi-Tenant Retail Portfolio for $1.8 Billion

by Abby Cox

New York City and Atlanta — Global Net Lease Inc. has entered into a binding agreement to sell its multi-tenant retail portfolio of 100 non-core properties to a subsidiary of RCG Ventures Holdings LLC, for approximately $1.8 billion. The transaction represents an 8.4 percent cash cap rate. GNL says the transaction would accelerate its deleveraging initiative and position the company as a pure-play, single-tenant net lease (STNL) company. GNL launched its disposition initiative in 2024, with the objectives of significantly reducing debt, enhancing financial flexibility and lowering its cost of …

Continue Reading
0 FacebookTwitterLinkedinEmail
Fabric and craft retailer JOANN
Company newsFinanceNew YorkNews

JOANN to Close all 800 Stores

by Abby Cox

New York City — JOANN has announced it will close all of its stores after the fabric and craft retailer was auctioned off to a new ownership group. Earlier this month, JOANN announced the closures of approximately 500 of its more than 800 locations across the United States. The announcement comes after the Hudson, Ohio-based retailer filed for Chapter 11 bankruptcy protection in January — the second time in a year — where JOANN’s remaining assets were put up for auction. Retail liquidator GA Group and JOANN’s term lenders won …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Fresh Market
Grocery-anchoredInvestment salesNew YorkNews

IPA Brokers $26.9 Million Sale of Shopping Center in Latham, New York

by Abby Cox

Latham, N.Y. — Institutional Property Advisors (IPA) has brokered the sale of a grocery-anchored shopping center for $26.9 million in Latham, roughly eight miles outside Albany. Built in 2010, the center totals 120,049 square feet and is anchored by The Fresh Market. Approximately 24,000 square feet is available for lease. Other tenants at the property include Petco and Crumbl Cookies. Jim Koury of IPA represented the seller, Shaker Louden Associates, and procured the buyer, PCP Binghamton Associates LLC, in the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
Smith Haven Mall
Architecture and DesignCompany newsLeasingNew YorkNews

Simon Unveils Plans for Multimillion-Dollar Transformation of Smith Haven Mall on Long Island

by Abby Cox

Lake Grove, N.Y. — Simon Property Group has unveiled plans for a multimillion-dollar transformation of Smith Haven Mall in the Long Island village of Lake Grove. The redevelopment project will feature improvements to both the interior and exterior of the mall, with the addition of new retailers, restaurants, a new outdoor plaza and amenities throughout the property. The redevelopment process will begin this summer and is scheduled for completion in 2026. “At Simon, we are committed to making significant investments across our portfolio to ensure that our centers continue to …

Continue Reading
0 FacebookTwitterLinkedinEmail
LeasingNew YorkNews

Newmark Secures 12,000-Square-Foot Retail Lease for Blinds to Go Flagship Store in Manhattan

by Abby Cox

New York City — Newmark Retail has secured a 12,000-square-foot lease for window coverings company Blinds to Go at 116 Seventh Ave. in the West Chelsea neighborhood of Manhattan. The space — which was formerly occupied by furniture brand EQ3 — spans three floors and will serve as a flagship for the brand. Additionally, Blinds to Go has secured its first location in Manhattan’s Upper East Side neighborhood. The venue will open in early spring 2025, followed closely by the flagship store. Ariel Schuster and Mitch Heifetz of Newmark represented …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts