Los Angeles and New York City — Apparel retailer BOGNER has opened two stores in Los Angeles and New York City, marking the first locations in the country for the German brand. Located on Madison Avenue, the New York City store comprises 3,400 square feet, and the Los Angeles store occupies 2,500 square feet on the Sunset Strip.
New York City — An investor group comprising Arkhouse Management and Brigade Capital Management has made a bid to buy out Macy’s (NYSE: M) for $5.8 billion, according to The Wall Street Journal. The offer from two of the retailer’s largest shareholders would include taking the company private. Real estate investment firm Arkhouse and global asset manager Brigade submitted the acquisition proposal Dec. 1, according to the publication. Macy’s boasts a total real estate portfolio value of $8.5 billion, according to J.P. Morgan analysts cited by Reuters. Equating to $21 per share, the …
Derby, Conn. — CBRE has arranged the $33 million sale of Hilltop Commons, a newly redeveloped retail center located in Derby. Biy Y, CVS/pharmacy, Dollar Tree and American Freight anchor the property. Other tenants at the center include Verizon, AT&T, McDonald’s, Wendy’s and Sherwin Williams. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, DLC And Hutensky Capital Partners, in the transaction. Kempner Properties and Lee & Associates NYC acquired the property.
Buckeye, Ariz. — SimonCRE has acquired land for Roosevelt Commons, a 15.6-acre mixed-use project to be developed in Buckeye. Upon completion, the property will feature retail and restaurant space, as well as a hotel. Several tenants, including Mexican restaurant Someburros, have signed leases at the development. Construction is scheduled to begin in January, with delivery of the first phase expected in late 2024.
Gainesville, Fla. — Marcus & Millichap has brokered the $6.5 million sale of Robbinswood Plaza, a 13,218-square-foot retail center located in Gainesville. Tenants at the property, which was fully leased at the time of sale, include Chipotle Mexican Grill and Trulieve. Reid Thedford and Evan Cannan of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller.
Washington, D.C. — Eatertainment operator State of Play has announced plans to open an 8,546-square-foot Flight Club darts venue in Washington, D.C. Scheduled to open summer 2024 and marking the 13th location for the brand, Flight Club D.C. will be situated within 655 New York, a 756,000-square-foot mixed-use development. Other tenants at 655 New York, which features 79,000 square feet of retail space, include Rumi’s Kitchen, Capital Burger, Pearl’s Bagels, Kinship, Metier and Compass Coffee.
Holbrook, N.Y. — Regency Centers has broken ground on the redevelopment of the 280,000-square-foot former SunVet Mall in Holbrook on Long Island. Plans for the property, which has been renamed The Shops at SunVet, include a 168,000-square-foot open-air shopping center with six outparcels. Whole Foods Market will anchor the center. Demolition of the existing structure is underway, with new construction scheduled to begin in spring 2024. SBLM Architects is the lead architect on the project.
Aurora, Ill. — JLL Capital Markets has brokered the sale of Aurora Commons, a 125,826-square-foot retail center located in Aurora, roughly 40 miles outside Chicago. Built in 1988, the property was 75 percent leased at the time of sale. Tenants at the center include Five Below, Dollar Tree, T-Mobile and H&R Block. Michael Nieder, Keely Polczynski and Caity Tirakian of JLL represented the seller, IRC Retail Centers, in the transaction. Sperry Equities acquired the property for an undisclosed price.
Chicago, Ill. — McDonald’s plans to expand its presence to comprise 50,000 restaurants by the end of 2027. This will mark the fastest period of growth for the brand according to the company, which announced the planned expansion in its Investor Update and a subsequent press release. Part of McDonald’s “Accelerating the Arches” strategy, the growth will include an expected 1,000 gross restaurant openings in the United States and internationally in 2027.
D’Iberville, Miss. — Marcus & Millichap has arranged the sale of Barnett Plaza, a 107,288-square-foot shopping center located in D’Iberville. Constructed in phases between the late 1970s and 2008, the property is situated on 13.8 acres. Tenants at the center include Crunch Fitness and Saad Health Care. Andrew Chason and Stephen Sewell of Marcus & Millichap represented the undisclosed seller in the transaction. Mickey Davis assisted as the firm’s broker of record in Mississippi.
