Melville, N.Y. — A&G Real Estate Partners is entertaining offers on 49 David’s Bridal leases throughout the country in its capacity as real estate advisor to the brand, which filed for Chapter 11 bankruptcy in April of this year. The stores range in size from roughly 5,000 to 15,000 square feet. Transactions must be presented for bankruptcy court approval by June 30. A&G additionally plans to hold an auction in July of a select group of David’s Bridal leases. “Second-generation space is in strong demand nationally for a variety of reasons …
New York City — Petco Health and Wellness Co. has unveiled a new 25,000-square-foot flagship store located in Union Square in New York City. Opening this weekend, the location will feature a curated merchandise assortment, grooming salon, veterinary hospital and JustFoodForDogs kitchen. The new store is a relocation of Petco’s previous Union Square pet care center, which opened in 1996 and closed in May of this year.
New York City — Global Net Lease (NYSE: GNL) and The Necessity Retail REIT (NASDAQ: RTL) have entered into a merger agreement under which GNL will acquire RTL in an all-stock transaction. The combined company is expected to own and manage over 1,350 properties with an aggregate real estate asset value of approximately $9.6 billion. Under terms of the merger agreement, GNL stockholders are expected to own approximately 45 percent of GNL post-closing, RTL stockholders are expected to own about 39 percent, and the owner of the former external manager are …
New York City —Lidl will open a 34,484-square-foot store at Glen Oaks Shopping Center in the borough of Queens in New York City. Ken Schuckman of Schuckman Realty represented Lidl in the lease negotiations. Randall Briskin represented the landlord, The Feil Organization, on an internal basis. The store, which is scheduled to open sometime next year, will be Lidl’s third in the borough.
Long Island, N.Y. — Regency Centers and Blumenfeld Development Group have announced plans for the 168,000-square-foot redevelopment of SunVet Mall in Long Island. Upon completion, Whole Foods Market will anchor the property, which will be transformed into an open-air shopping center featuring two junior anchors, as well as 53,000 square feet of shops and six outparcels. Regency will hold the majority interest in the joint venture and oversee leasing and operations at the center.
New York City — A&G Real Estate Partners, real estate advisor to Bed Bath & Beyond Inc., has announced plans to auction hundreds of Bed Bath & Beyond and buybuy BABY leases as part of the company’s bankruptcy proceedings. Pending Court approval of bid procedures, A&G will auction Bed Bath & Beyond store leases located in 48 states and ranging in size from 18,000 to 92,000 square feet and buybuy BABY store leases located in 37 states and ranging in size from 14,000 to 63,000 square feet. Additionally, A&G and …
New Rochelle, N.Y. — LA Fitness has opened a 36,000-square-foot gym at 75 Nardozzi Place in New Rochelle. Amenities at the location include a 25-yard lap pool, whirlpool spa, locker rooms with showers and sauna, a group exercise studio and an indoor cycling room. LA Fitness now occupies the majority of the second floor of a two-story, free-standing structure at the property, which was developed in 2021 by the landlords, Simone Development Cos. and G&S Investors.
Spencerport, N.Y. — Legacy Realty Group Advisors has arranged the sale of Spencerport Village Plaza, a 99,306-square-foot shopping center located in Spencerport, roughly 11 miles outside Rochester. Tops anchors the property. Daniel Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Monroe, New York — Two new tenants have signed leases at Harriman Commons, a 706,243-square-foot retail center located in Monroe. Five Below will open an 11,012-square-foot store, and Rightly Dental is now seeing patients within a 1,650-square-foot space. These tenants bring occupancy at the property to 98 percent. Burlington also recently opened at the center, with a 23,986-square-foot store, and plans are underway for the addition of a BJ’s Fueling Station and 3,000-square-foot drive-thru restaurant. Construction on the gas station is scheduled to begin this quarter.
New York City — New York City-based Legacy Realty Group Advisors has brokered the $60 million sale of a portfolio comprising 40 Dollar General-leased stores in the Southeast. Jacob Baruch and Daniel Baruch of Legacy represented the buyer, a net lease REIT, and seller, a private developer, in the transaction.