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Market Lofts
CaliforniaGrocery-anchoredInvestment salesNews

Hanley, SRS Arrange $20.9 Million Sale of Retail Anchor at Mixed-Use Development in Los Angeles

by Abby Cox

Los Angeles — A partnership between Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners has arranged the $20.9 million sale of the retail component at Market Lofts in downtown Los Angeles. The retail portion of the project is anchored by a 49,489-square-foot Ralphs grocery store located on the ground floor. Completed in 2007, Market Lofts features 267 condominiums with 54,948 square feet of total ground-floor retail space. Along with Ralphs, the retail portion of the property is leased to six additional tenants including The UPS Store, Supercuts, …

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CaliforniaLeasingNews

South Coast Plaza Signs 21 New Tenants

by Abby Cox

Costa Mesa, Calif. — South Coast Plaza, a 2.8 million-square-foot super-regional mall located in Costa Mesa, has signed 21 new leases to join its tenant lineup this year. Dior Beauty’s West Coast flagship store has already opened at the center, along with Eres, Ramen Nagi, Vox Kitchen and a new Tiffany & Co. pop-up store. Other retailers that will open later this spring include Ami Paris; Eleventy; Guerlain; Gianvito Rossi; Montcler; Roger Vivier; Sandro; and See’s Candies. Alo; Skims; Bottega Veneta; Camilla; Club Monaco; Crate & Barrel; MaxMara; and Tumi …

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Investment salesNew YorkNews

Acadia Realty Acquires Three Retail Storefronts in New York for $61 Million

by Abby Cox

Brooklyn, N.Y. — Acadia Realty Trust has acquired three retail storefronts totaling approximately 13,600 square feet in the Williamsburg neighborhood of Brooklyn. Acadia now owns seven storefronts along North 6th Street, including the most recent acquisitions of 95, 97 and 107 North 6th Street. Brendan Maddigan, Ethan Stanton and Michael Mazzara of JLL represented Acadia Realty Trust, and the seller, City Urban Realty, in the transaction.

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Investment salesNewsSouth Carolina

Joint Venture Acquires 59,020-Square-Foot Shopping Center in Rock Hill, South Carolina

by Abby Cox

Rock Hill, S.C. — A joint venture between ShopOne Centers REIT, Pantheon and a global institutional investor has acquired Riverview Commons, a 59,020-square-foot shopping center located in Rock Hill, roughly 15 miles south of Charlotte, North Carolina. Food Lion and Dollar General anchor the property, which was 96 percent leased at the time of sale. Additional retailers at the center include Computer CPR, Exquisite Nails & Spa, Hair Savvy Salon, Big Wok II, Rock Hill Bagels & Deli, Ivy Rehab and ISI Elite Training. Riverview Commons marks ShopOne’s first acquisition …

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Kensington Valley Outlets
Investment salesMichiganNews

Time Equities, Lormax Stern Acquire 314,438-Square-Foot Retail Center in Howell, Michigan

by Abby Cox

Howell, Mich. — A partnership between New York City-based Time Equities Inc. (TEI) and Bloomfield Hills, Michigan-based Lormax Stern Development Co. has acquired Kensington Valley Outlets, a 314,438-square-foot retail center located in Howell. Formerly known as Tanger Outlets Howell, the property was originally built in 1996 and features a mix of tenants including H&M Outfitters; Old Navy; Nike Factory Store; Columbia; Banana Republic; GAP; Polo Ralph Lauren Factory Store; Famous Footwear; and Eddie Bauer. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith internally represented TEI while Andrew Bell, Matt Drozd, …

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The Gilmore
ArizonaDevelopmentLeasingMixed-useNewsRestaurantsRetailers

Thompson Thrift Breaks Ground on $225 Million Mixed-Use Development in Gilbert, Arizona

by Abby Cox

Gilbert, Ariz. — Thompson Thrift has broken ground on The Gilmore, a $225 million mixed-use development located in the Phoenix suburb of Gilbert. The 35-acre project will comprise approximately 200,000 square feet of grocery, restaurant and retail space, 300 luxury apartment homes and a hotel. The development will feature a main street-style entrance with covered walkways, common areas, murals by local artists and landscaped outdoor gathering spaces. More than 25 retail leases have already been signed including Better Buzz Coffee; Handel’s Ice Cream; Jersey Mike’s; Sweathouz; Rebel Wine Lounge; Square …

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LeasingMarylandNews

Seven New Tenants Join Westfield Montgomery in Bethesda, Maryland 

by Abby Cox

Bethesda, Md. — Seven new tenants have signed leases at Westfield Montgomery, a 1.2-million-square-foot regional mall in the Washington, D.C. suburb of Bethesda. Thai Express and Subway have already opened at the property, while Uniqlo’s 12,000-square-foot store will follow. Below Zero Swiss Science expects to open in late spring, while fashion retailer Garage is scheduled to open this summer. Asian restaurants Shiki Fusion and Nan Xiang Soup Dumplings will open later this year in the dining terrace at the center. Existing retail tenants including lululemon and Janie & Jack have …

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Joshua Plaza
Investment salesNewsNorth Dakota

Marcus & Millichap Brokers Sale of 36,800-Square-Foot Retail Center in Minot, North Dakota

by Abby Cox

Minot, N.D. — Marcus & Millichap has brokered the $4.1 million sale of Joshua Plaza, a 36,800-square-foot retail center located in Minot. Timber Development Corp. sold the center, which the company developed in 2004. Eric Abbott and Zach Taylor of Marcus & Millichap’s Atlanta office represented Timber in the transaction.

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Bricktown Square Shopping Center
DevelopmentIllinoisNews

NewMark Merrill Companies Plans $1.5 Million Renovation for Bricktown Square Shopping Center in Chicago

by Abby Cox

Chicago — NewMark Merrill Cos. has unveiled plans for a $1.5 million renovation of Bricktown Square Shopping Center, a 292,309-square-foot retail center located in northwest Chicago. Renovations to the center will include exterior improvements, additional signage and wayfinding, as well as updated paint and color schemes. NewMark Merrill will also combine two existing spaces to form a single, larger space that will house a new Skechers store. Additionally, Japanese restaurant Okini Buffet and Kinship Health will join Bricktown Square’s tenant lineup later this year, bringing the center’s occupancy to 98 …

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Jack in the Box
CaliforniaCompany newsNews

Jack in the Box to Close Up to 200 Stores, Company to Explore Sale of Del Taco

by Abby Cox

San Diego — Jack in the Box Inc. has announced plans to improve its long-term financial performance across its restaurant system, which includes the closure of 150 to 200 underperforming Jack in the Box restaurants, as well as possible alternatives for its Del Taco brand, which it acquired in March 2022. Jack in the Box will implement a block closure program, which will comprise of approximately 80 to 120 restaurant closures between now and December 31, with the remaining underperforming restaurants closing thereafter, based upon franchise agreement termination dates. San …

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