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DevelopmentEntertainmentNewsVirginiaWashington DC

JBG Smith Announces Cancellation of 9 Million-Square-Foot Potomac Yard Entertainment District in Metro D.C.

by Hayden Spiess

Alexandria, Va. — JBG Smith has announced the cancellation of Potomac Yards, an entertainment district project that would have comprised 9 million square feet within the National Landing neighborhood in Alexandria, roughly eight miles south of Washington, D.C. A partnership between the developer and Monumental Sports & Entertainment (MSE) first proposed the development — which would have been anchored by a new arena for the NHL’s Washington Capitals and NBA’s Washington Wizards — in December of last year. Completion of the project, including a global corporate headquarters for MSE, a media …

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Investment salesNew JerseyNews

Marcus & Millichap Arranges $6.2 Million Sale of Central New Jersey Shopping Center

by Hayden Spiess

Flemington, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. HomeGoods and Ulta Beauty anchor the property, which was leased to 26 tenants at the time of sale. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction. 

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CaliforniaInvestment salesNews

NewMark Merrill Buys 28,800-Square-Foot CVS-Occupied Property in Placentia, California

by Hayden Spiess

Placentia, Calif. — NewMark Merrill Cos. has acquired a 28,000-square-foot single-tenant property located within Placentia Town Center, a 142,666-square-foot shopping center in Placentia. CVS/pharmacy occupies the building. NewMark Merrill now owns the entirety of the shopping center. Other tenants at the center include Marshalls, Ross Dress for Less, Massage Envy, Philly’s Best, KC Nails, Avalon Bagels, Courtesy Cleaners, Mr. D’s Diner & Bar, Uptown Cheapskate and Beauty Avenue.  Greg Giacopuzzi of NewMark Merrill, with Tony Veiller of Pegasus Investments, represented NewMark Merrill in the transaction.

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LeasingNewsRestaurantsTexas

Shoo Loong Kan Signs Two Leases Totaling 12,543 Square Feet in Texas

by Hayden Spiess

Houston and Carrollton, Texas — Restaurant group Shoo Loong Kan has signed two leases in Texas, marking the first locations in the state for the group. Plans include a 6,213-square-foot restaurant at West on West in Houston, as well as a 6,330-square-foot restaurant in Carrollton. NewQuest Properties owns both properties. Michael Pittman II, Michael Burgower and Rachel Granstrom of Cushman & Wakefield represented the tenant in the lease negotiations. 

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Airport-Square
Investment salesNewsOhio

SRS Real Estate Partners Arranges $11.9 Million Sale of Shopping Center in Toledo, Ohio

by Hayden Spiess

Toledo, Ohio — SRS Real Estate Partners has arranged the $11.9 million sale of Airport Square, a 187,252-square-foot shopping center located in Toledo. Situated on approximately 23 acres, the property was 99 percent occupied at the time of sale. Tenants at the center include Urban Air Adventure Park, Discount Fashion Warehouse, American Freight and DaVita Healthcare. Urban Air recently signed a 10-year lease at the center. Jack Cornell, Matthew Mousavi and Patrick Luther of SRS, along with Mac Lehrer of Hoty Enterprises, represented the seller, Oklahoma City-based Frayer Properties. SRS also …

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AlabamaInvestment salesNews

Cove Capital Acquires 130,056-Square-Foot Eastwood Village Retail Center in Birmingham, Alabama

by Hayden Spiess

Birmingham, Ala. — Cove Capital Investments has acquired Eastwood Village, a 130,056-square-foot retail center located in Birmingham. Tenants at the property, which was 96 percent occupied at the time of sale, include Ross Dress for Less, Five Below, Office Depot, Michaels, Party City and Starbucks Coffee. The acquisition marks the newest addition to Cove Capital’s DST portfolio, which includes 89 properties totaling 2.1 million square feet throughout the country. 

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CaliforniaInvestment salesNews

JLL Brokers $6.3 Million Sale of Retail Center in Southern California

by Hayden Spiess

Tustin, Calif. — JLL Capital Markets has brokered the $6.3 million sale of Newport and Walnut Center, a retail center located in Tustin. The property, which was fully leased at the time of sale, totals 9,624 square feet. Tenants at the center include HiroNori Craft Ramen, Crown Beauty, Studio 18 Nail Bar and Moon Lash Beauty. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented both the seller and buyer in the transaction. World Premier Investments acquired the property for an undisclosed price. 

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Company newsMassachusettsNews

Mark Taylor Joins Horvath & Tremblay as Executive Vice President

by Hayden Spiess

Boston — Mark Taylor has joined Boston-headquartered Horvath & Tremblay as an executive vice president. Taylor’s experience includes 35 years in commercial real estate brokerage, including previously serving as senior managing director of investments at a national firm. He has brokered over $3.5 billion in investment sales across 42 states. 

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Academy-Sports---Outdoors
Company newsNewsTexas

Academy Sports + Outdoors Plans to Expand by 160 to 180 Stores Over Next Five Years

by Hayden Spiess

Katy, Texas — Sporting goods retailer Academy Sports + Outdoors has announced plans to open 160 to 180 new stores over the next five years.  Half of the new stores are expected to open in markets where the retailer has an existing footprint. The remaining 80 to 90 stores are planned for new and adjacent markets, with a focus on expanding to smaller and mid-sized markets. The company sees these locations as offering higher opportunities for profit despite lower sales volumes. These openings will increase the Katy-based retailer’s footprint from 282 …

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Anthem_Arlington-Texas
DevelopmentMixed-useNewsTexas

Trademark to Redevelop 45-Acre Lincoln Square in Dallas-Fort Worth Metro

by Hayden Spiess

Arlington, Texas — Trademark Property Co. will redevelop Lincoln Square, a 45-acre shopping center located in Arlington, roughly 14 miles outside Fort Worth. Trademark plans to reposition the property as a mixed-use development and has received approval to rezone the site from the City of Arlington. Construction is scheduled to begin in the second quarter of next year. Upon completion, the first phase of the project — dubbed Anthem — will feature 152,000 square feet of retail and restaurant space, as well as a hotel, apartments and office space. Plans also …

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