Greensboro, N.C. — Tanger has announced an expansion of its partnership with Sephora, which will bring the beauty retailer to five additional Tanger properties this year. Averaging 5,000 square feet, the stores will be located in Charleston, South Carolina; Deer Park, New York; National Harbor, Maryland; Palm Beach, Florida; and Glendale, Arizona. Sephora is currently open at Bridge Street Town Centre in Huntsville, Alabama, which Tanger acquired in late 2023.
Melville, N.Y. — New York-based A&G Real Estate Partners has announced plans to market 27 store leases in 12 states on behalf of music retailer Sam Ash Music Corp., which recently filed for Chapter 11 bankruptcy protection in New Jersey. Sam Ash’s total portfolio comprises 42 stores in 16 states, all of which will be closed while the company entertains buyer offers and completes its financial restructuring. Averaging 25,467 square feet, the lease sizes range from 6,000 to 44,000 square feet.
Lake Grove, N.Y. — Fast-casual restaurant concept New York Fries has opened at Smith Haven Mall in Lake Grove. Recipe Restaurant Group owns and operates the brand, which offers an array of fries, as well as poutine and hot dogs. This marks the fourth restaurant to open in the U.S. this year for the concept and the second in New York. Units occupy between 250 and 350 square feet. Simon Property Group is the landlord at the property.
Jericho, N.Y. — New York-based Kimco Realty has added nine new tenants to five of its shopping center properties throughout the state of Washington. Holiday China, Sushi Omiya, Sam Income Tax and Magikid Robotics Lab have signed leases at The Marketplace at Factoria in Bellevue and will occupy 1,121; 2,458; 832; and 1,405 square feet, respectively. Food-and-beverage tenants Taco Bell and Emerald City Smoothie will join Pavilions Centre in Federal Way and Gateway Shopping Center in Mill Creek. Taco Bell will occupy 2,680 square feet, beginning this fall, and Emerald City …
New York City — J.P. Morgan Real Estate Income Trust (JPMREIT) has acquired a 95 percent interest in Shops at Grand Avenue, a 99,837-square-foot retail center located in Queens in New York City, from Acadia Realty Trust. Stop & Shop anchors the property, which was fully leased at the time of the acquisition. The purchase price was $48 million.
New York City — Michael Carroll and John Hayes have joined New York City-based RD Management LLC, a property owner and operator with a portfolio comprising more than 170 properties throughout the continental U.S. and Puerto Rico. RD has appointed Carroll and Hayes to the roles of co-chief executive officer and chief financial officer, respectively. Richard Birdoff, who has been with RD for more than 30 years, will serve as co-CEO and executive chairman moving forward. Carroll’s previous experience includes founding ShopOne Centers REIT in 2017 and serving as CEO of …
East Setauket, N.Y. — Brixmor Property Group has acquired West Center, a 41,920-square-foot shopping center located in East Setauket on Long Island. Wild by Nature, a grocer, anchors the property. Other tenants at the center include Walgreens, Pure Barre, Starbucks Coffee and AT&T.
New York City — Brooklyn Fare Kitchen & Market has opened a 25,500-square-foot store within One Manhattan Square, an 800-foot-high residential tower located in Manhattan in New York City. This marks the largest New York City store to date for the grocer, which offers prepared foods, fresh bread, sushi, a deli, produce, frozen foods and organic products. The store also features a coffee bar. Other Brooklyn Fare locations in the city include Brooklyn, The West Village and Lincoln Square.
Albany, N.Y. — An affiliate of Heidenberg Properties has acquired Colonie Center, a 243,395-square-foot retail center in Albany for $28 million. Whole Foods Market anchors the property, which was 58 percent leased at the time of sale. Other tenants at the center include Floor & Decor and Sierra Trading Post. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the undisclosed seller in the transaction and procured the buyer.
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. …
