Plymouth Meeting, Pa. — Norman’s Hallmark has opened a 7,280-square-foot store at The Metroplex in Plymouth Meeting. The store offers a complete line of Hallmark products, cards and Keepsake Ornaments, as well as apparel, accessories, books, stationery, games, home décor, candy and gourmet foods. Norman’s Hallmark currently operates in 75 locations.
Bolingbrook, Ill. — McDonald’s (NYSE: MCD) has announced plans to test CosMc’s, a new smaller format concept featuring a beverage-led menu with new food and drink items. The first location will open this month in the Chicago suburb of Bolingbrook, where the first McDonald’s franchise location opened in 1955. By the end of 2024, the company plans to open 10 pilot locations for the concept, with target markets set to include the Dallas-Fort Worth and San Antonio metropolitan areas. CosMc’s will offer digital and drive-thru ordering formats only, with dynamic menu …
Appleton, Wis. — Mid-America Real Estate Corp. has arranged the sale of Westhill Plaza, a 114,221-square-foot shopping center located in Appleton. Tenants at the property, which was 93 percent leased at the time of sale, include Burlington, Boot Barn and Party City. Rick Drogosz, Emily Gadomski and Dan Rosenfeld of Mid-America represented the seller, CRG Investments. Brookwood Capital Advisors acquired the center.
New York City — Brazilian restaurant Fogo de Chão has signed a 5,009-square-foot lease in Manhattan in New York City. Situated within The Oculus at Westfield World Trade Center, the venue is scheduled to open in 2024. Harrison designed the space, which will feature an expansive dining room and open churrasco grill. This marks the ninth location for the brand in metro New York City.
Tysons, Va. —Macerich has secured a $710 million loan for the refinancing of Tysons Corner Center, a retail center located in Tysons. Nordstrom, Bloomingdale’s and Macy’s anchor the property, which totals 1.8 million square feet. The financing will replace an existing $666 million loan that was scheduled to mature on Jan. 1. A Macerich joint venture owns the center.
Naperville, Ill. — Quantum Real Estate Advisors Inc. has brokered the $7.1 million sale of Design Pointe, a 78,000-square-foot retail center located in the Chicago suburb of Naperville. At the time of sale, the property was 95 percent leased to tenants including Studio 41, Brain Balance and Fancy Free Holidays. Brett Berlin of Quantum represented the seller, an Illinois-based investor, in the transaction.
Mammoth Lakes, Calif. — PSRS has arranged a $3.7 million loan for the refinancing of Mammoth Gateway, a retail center in Mammoth Lakes. Rite Aid anchors the property, which totals 54,854 square feet. Built in 1973 on 3.5 acres, the center features 13 retail spaces. Grady Seldin and Thomas Rudinsky of PSRS secured the 10-year, fixed-rate financing on behalf of the undisclosed borrower.
Manhasset, N.Y. — Retailers have signed new leases totaling 50,000 square feet at The Gate at Manhasset, a shopping center located in Manhasset on Long Island. New tenants at the property, which is now fully leased, include Greenwich Furniture and Design, Saatva, Arc’Teryx, Natuzzi Italia, Lucid, Sephora and Vuori. Olshan Properties is the landlord.
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A&G to Sell 79 Rite Aid Leases in 11 States
Camp Hill, Pa. — A&G Real Estate Partners will market 79 Rite Aid store leases for sale, in its capacity as real estate advisor to the company, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Part of Rite Aid’s financial restructuring process, this marks the third tranche of leases to be sold and follows a set of 92 store leases that became available in November. Ranging from 5,502 to 31,468 square feet, the leases are located in 11 states, including California, Connecticut, Maryland, Michigan, New Jersey, …
Newport Beach, Calif. — California-based Mountain Mike’s Pizza has signed a franchise deal for the development of 10 restaurants in Washington, marking the brand’s entrance into the state. Locations will include Arlington, Bellevue, Bellingham, Burlington, Kirkland, Lake Stevens, Lynwood, Marysville, Mill Creek, Northgate and Redmond, with the first opening scheduled for next year. Franchisees Gurjot and Yashraj Thind will develop and operate the restaurants.