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LeasingNew YorkNews

Club Pilates Signs 3,500-Square-Foot Lease in New York City

by Hayden Spiess

New York City — Club Pilates has signed a 3,500-square-foot lease in New York City. The brand has opened a fitness center on the ground floor of The Delegate, a condominium tower located in Manhattan. Club Pilates, an affiliate of Midtown East Fitness and a subsidiary of Xponential Fitness, currently operates more than 800 studios globally. Jack Resnick & Sons owns and operates the retail space at the property. Fran Delgorio and Brett Greenberg represented the landlord in the leasing negotiations on an internal basis, with Arial Schuster, Ross Berkowitz, Andrew …

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Gallery-on-the-Parkway_Dallas
Investment salesNewsTexas

Blue Owl Sells 146,612-Square-Foot Retail Center in Dallas

by Hayden Spiess

Dallas — Blue Owl Real Estate has sold Gallery on the Parkway, a 146,612-square-foot retail center located in Dallas. Tenants at the property, which was developed in 1995, include Nordstrom Rack and Cost Plus World Market. Four Rivers Capital purchased the center for an undisclosed price. Adam Gottschalk of STRIVE arranged the transaction. 

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Westcliff-Shopping-Center_Fort-Worth-Texas
Grocery-anchoredInvestment salesNewsTexas

DIG Brokers $14.8 Million Sale of Westcliff Shopping Center in Fort Worth, Texas

by Hayden Spiess

Fort Worth, Texas — Disney Investment Group (DIG) has brokered the $14.8 million sale of Westcliff Shopping Center, a 134,750-square-foot retail center located in Fort Worth. Albertsons anchors the property, which was 86 percent leased at the time of sale. DIG represented the seller, CTO Realty Growth, in the transaction and procured the buyer. Partners Capital, the investment platform of Partners Real Estate, acquired the center. Jess Dickie represented Partners on an internal basis, and Independent Financial provided acquisition financing.

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GeorgiaInvestment salesNews

JLL Arranges Sale of 102,864-Square-Foot Shopping Center in Atlanta

by Hayden Spiess

Atlanta — JLL has arranged the sale of Marketplace at Buckhead, a 102,864-square-foot shopping center located in Atlanta’s Buckhead district. Sterling Organization purchased the property for an undisclosed price. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the undisclosed seller in the transaction. Built in 1958 and renovated in 1997 and 2013, the property was fully leased at the time of sale. Tenants include Willy’s Mexicana Grill, Jersey Mike’s Subs and Salon Lofts. 

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Wegmans_Yardley-Pa
DevelopmentLeasingNewsPennsylvania

Wegmans to Open 88,000-Square-Foot Store in Pennsylvania

by Hayden Spiess

Yardley, Pa. — Wegmans will open an 88,000-square-foot store in Yardley early next year. Situated within the Prickett Preserve development, the store is expected to employ more than 400 people. Wegmans was established in 1916 and currently operates 109 stores in seven states. The brand is also scheduled to open a store in Lake Grove, New York, next year. 

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Company newsFloridaNewsPennsylvaniaRestaurants

Bagels & Co. to Open 20 Stores in Florida and Pennsylvania

by Hayden Spiess

Philadelphia — Philadelphia-based brand Bagels & Co. has announced plans to open 20 new stores throughout Florida and Pennsylvania. Scheduled to open by 2024, the shops will offer bagel and cream cheese varieties, as well as other deli fare. Restaurant group Glu Hospitality owns the brand, which currently operates four outposts in Philadelphia, with three new stores scheduled to open in the city this year. New locations will also include Fort Lauderdale and Wilton Manors in South Florida. 

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Rite-Aid-Banning-California
Company newsFinanceNewsPennsylvania

Rite Aid Files for Chapter 11 Bankruptcy, Receives $3.4 Billion for Debt Restructuring

by Hayden Spiess

Philadelphia — Rite Aid Corp. (NYSE: RAD) has filed for Chapter 11 bankruptcy protection and has received financial commitments totaling roughly $3.4 billion from lenders to support business operations as the company works to restructure its debt. The Philadelphia-based pharmacy and convenience store chain did not say whether it would immediately close any stores as a direct result of this filing, just that it would continue “assessing its footprint and closing underperforming stores.” However, in September, The Wall Street Journal reported that Rite Aid had proposed to its creditors a restructuring …

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Grocery-anchoredInvestment salesNew JerseyNews

IPA Arranges Sale of 102,660-Square-Foot Shopping Center in Metro Philadelphia 

by Hayden Spiess

Sicklerville, N.J. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of Gloucester Town Center, a 102,660-square-foot shopping center located in Sicklerville, roughly 23 miles outside Philadelphia. A 57,560-square-foot ACME Markets store anchors the property. Other tenants include Dollar Tree, Supercuts, AT&T, Pizza Hut and Mavis Discount Tires. Brad Nathanson of IPA represented the seller, KPR Centers, in the transaction. 

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Farmington_Charlotte-Harrisburg-N.C
DevelopmentMixed-useNewsNorth Carolina

MPV Opens Chick-fil-A, Plans New Construction at Farmington Development in North Carolina

by Hayden Spiess

Charlotte and Harrisburg, N.C. — MPV Properties has announced the addition of new tenants and buildings at Farmington, the developer’s master-planned community in Charlotte and Harrisburg. Chick-fil-A opened at the property in May, and Famous Toastery is planning to open in the second half of 2024, within an outparcel behind the development’s Shop Building I. H.T. Fuel will also open on an outparcel, with construction scheduled to begin directly behind Chick-fil-A in the coming months. Construction is also scheduled to begin on Small Shops II, an 11,865-square-foot retail building. MPV is …

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FinanceNewsWisconsin

Bernard Financial Group Secures $10.1 Million Acquisition Financing for Retail Center in Wisconsin

by Hayden Spiess

Waukesha, Wis. — Bernard Financial Group (BFG) has secured a $10.1 million CMBS loan for the acquisition of a 112,010-square-foot retail center in Waukesha, a western suburb of Milwaukee. Dennis Bernard and Joshua Bernard of BFG arranged the loan. The borrower was an entity doing business as Meadowbrook Marketplace Associates LLC.

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