Houston — Investment and brokerage firm Shannon Waltchack has acquired The Vintage Center, a 29,483-square-foot unanchored retail center located in northwest Houston. Tenants at the property, which was fully leased at the time of sale, include First Community Credit Union, Vintage Smile Family Dentistry, Chicken Salad Chick, Memorial Hermann-GoHealth and Trademark Salon. John Indelli and Ryan West of JLL represented the undisclosed seller in the transaction.
Orlando, Fla. —Primark has signed a lease at The Florida Mall in Orlando with plans to open a 36,000-square-foot store at the property. Spanning two stories, the store will feature an entire floor dedicated to Disney merchandise. Scheduled for the end of August, the opening will bring the retailer’s U.S. portfolio to 26 locations. Primark currently operates one store in the state at Sawgrass Mills in Sunrise. “Florida is a pillar of our expansion into the Southern U.S. market,” says Kevin Tulip, president of Primark U.S. Simon Property Group owns The …
Tustin, Calif. — Six new tenants have signed leases at The District at Tustin Legacy, a shopping center located in Tustin. Restaurants Prime Hot Pot and Curry Pizza House are now open at the center. Baby Shoppe has also opened at the property, and World of Racing, Spirit Halloween and 3CAT are scheduled to open this summer. Vestar is the landlord of the center, which was jointly developed by Vestar and Kimco.
Livingston, N.J. — Azarian Realty Co. has arranged two leases at The Livingston Town Center, a 65,523-square-foot retail center located in Livingston. Jacqueline Special Occasions and Ship Logistics will occupy 2,587 and 612 square feet at the property, respectively. Other tenants at the center include Hot Worx, LA Bikini, Omaha Steaks, Mixology, Wells Fargo and 16 Handles. Kevin Pelio of Azarian Realty Co. represented both the landlord and tenants in the leasing negotiations.
Gilbert, Ariz. — Okland Capital and San Tan Development Group have broken ground on Phase I of Northside at SanTan Village, a $100 million mixed-use development in the Phoenix suburb of Gilbert. The first phase will feature 37,245 square feet of retail and restaurant space across six buildings, with completion scheduled for mid-2025. Upon full build-out, Northside at SanTan Village will span 20 acres and include a 134-key hotel, in addition to retail, restaurant and community green space. The project team includes general contractor Okland Construction and architect Aline Architecture Concepts. …
The Woodlands, Texas — Conn’s HomePlus, a Texas-based home furnishing retailer, has filed for Chapter 11 bankruptcy and will close at least 70 stores nationwide, according to reports from multiple media outlets including CNN and USA Today. The latter publication reports that Conn’s filed for bankruptcy protection this past Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas amid slumping revenue reports. The impacted stores are located throughout 13 states, according to CNN. Both news organizations report that the state with the highest concentration of closures is Florida (18), followed by Texas …
Des Peres, Mo. — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Des Peres Corners, a retail center located in Des Peres, in partnership with Phillips Edison & Co. (PECO) The acquisition was made through a programmatic joint venture that is 80 percent owned by CNSREIT and 20 percent owned by PECO. A 74,000-square-foot Schnucks anchors the property, which was built in 2009 and totals 121,000 square feet. The center was 90 percent occupied at the time of sale.
Austin, Texas — JLL Capital Markets has secured acquisition financing for South Bend Center, a mixed-use property located in Austin. Built in 1984, the property totals 43,811 square feet across three buildings, with retail, flex warehouse, restaurant and medical office space. CW Sheehan and Peyton Ackerman of JLL arranged the financing on behalf of the borrower, Duncan Park Capital.
New York City — Fast-casual pretzel brand Wetzel’s Pretzels has opened a new kiosk within Macy’s at the Queens Center Mall in New York City. Wetzel’s Pretzels occupies 480 square feet within the store, including a baking kiosk and dry storage space. The unit is owned and operated by franchisee Ricky Alam, whose portfolio includes nine Wetzel’s locations in Southern California and four in New York and New Jersey. Wetzel’s celebrated its 400-unit milestone earlier this year.
Beverly Hills, Calif. — Tinder founder Justin Mateen, his brother Tyler Mateen and their brother-in-law Pouya Abdi have acquired Wilshire Rodeo Plaza, a Class A office and retail complex located at the corner of Rodeo Drive and Wilshire Boulevard in the posh Los Angeles suburb of Beverly Hills. Nuveen sold the asset for $211 million. The 300,000-square-foot property includes three six-story office and retail buildings along Wilshire Boulevard and a three-story office building along Rodeo Drive. The buyers plan to rebrand the property as One Rodeo, as well as upgrade and …