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YETI
LeasingNew YorkNews

YETI Signs 6,614-Square-Foot Lease in Manhattan

by Hayden Spiess

New York City — Outdoor lifestyle brand YETI has signed a 6,614-square-foot lease in Manhattan in New York City. Scheduled to open by early summer of this year, the store will occupy space on two levels of the building, which is situated across from Madison Square Park. Boston Properties is the landlord of the property. Ian Rice of SCG Retail, a division of TSCG, and Jordan Cohn of Ripco represented YETI in the lease negotiations. Alan Schmerzler and Steven Soutendijk of Cushman & Wakefield represented the landlord. 

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FAT-Village_Fort-Lauderdale-Fla
DevelopmentFloridaMixed-useNews

Hines Breaks Ground on 5.6-Acre Mixed-Use FAT Village in Fort Lauderdale, Florida

by Hayden Spiess

Fort Lauderdale, Fla. — Hines and partners Urban Street Development, Cresset Real Estate, Las Americas, Hudson Capital and Halmos Holdings have broken ground on FAT Village, a 5.6-acre mixed-use project located in Fort Lauderdale. The first phase, which is scheduled for completion in 2027, will feature 74,000 square feet of retail space, in addition to 601 apartment units and 180,000 square feet of mass timber office space, dubbed T3 — Timber, Transit and Technology. A second phase will be developed upon completion of the first. In total, the project will comprise …

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Chapel-Hills-East_Colorado-Springs-Colo
ColoradoGrocery-anchoredInvestment salesNews

M & J Wilkow, MetLife Acquire 225,000-Square-Foot Retail Center in Colorado Springs, Colorado

by Hayden Spiess

Colorado Springs, Colo. — M & J Wilkow and MetLife Investment Management have acquired Chapel Hills East in Colorado Springs, marking the fifth joint venture for the companies. Whole Foods Market anchors the retail center, which totals 225,000 square feet. Other tenants at the property, which was fully leased at the time of sale, include Nordstrom Rack, Best Buy, DSW, Old Navy, Barnes & Noble and Office Depot. The center was developed in 1995 and 1996. 

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El-Paseo-Shopping-Center_South-Gate-Calif
CaliforniaFinanceNews

CBRE Secures $43 Million Refinancing for El Paseo Shopping Center in California

by Hayden Spiess

South Gate, Calif. — CBRE has secured a $43 million loan for the refinancing of El Paseo Shopping Center in South Gate, a suburb of Los Angeles. Tenants at the 300,000-square-foot retail center include Regal Edwards Theatres, Curacao, Planet Fitness, Starbucks Coffee, Union Bank, GNC, Panda Express, T-Mobile and Hooters. Bob Ybarra, Shaun Moothart, Bruce Francis, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE arranged the five-year, full-term interest-only, nonrecourse financing on behalf of the undisclosed borrower.

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LeasingNewsRestaurantsTexas

Salad and Go Signs Four New Leases in Texas

by Hayden Spiess

Houston — Fast-casual concept Salad and Go has signed four new leases in Texas. The brand will open restaurants at a 44,431-square-foot property in Magnolia and a 30,000-square-foot property in Cypress. Danny Miller of Gulf Coast Commercial Group represented the landlord in both negotiations. Salad and Go has also signed leases in The Woodlands and Bryan. Jacob Weersing of Capital Retail represented the landlord of the Woodlands property in the transaction. Jason Baker, Traci Holman, Lunden McGill and John Frazier of Baker Katz represented Salad and Go in the lease negotiations. 

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Michael Gold
Company newsIllinoisNews

Cullinan Appoints Michael Gold President

by Hayden Spiess

Peoria, Ill. — Cullinan Properties has appointed Michael Gold as president of the company. Prior to joining Cullinan, Gold most recently served as chief operating officer for shopping center owner and operator Pine Tree. During his tenure at Pine Tree, Gold’s teams oversaw more than 20 million square feet of real estate. “Michael’s comprehensive understanding of the industry and proven track record of success make him an invaluable addition to the Cullinan Properties team,” says Diane Cullinan Oberhelman, chairman of Cullinan Properties. Gold will be based in Cullinan’s Chicago office. 

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Arundel-Plaza_Glen-Burnie
FinanceMarylandNews

JLL Secures $22 Million Refinancing for Arundel Plaza Shopping Center in Metro Baltimore

by Hayden Spiess

Glen Burnie, Md. — JLL has secured a $22 million loan for the refinancing of Arundel Plaza, a 282,039-square-foot shopping center located in Glen Burnie, a southern suburb of Baltimore. Michael Klein, Jon Mikula, Evan Parker and John Cumming of JLL arranged the five-year, fixed-rate financing through a life insurance company on behalf of the Singapore-based borrower, United Hampshire U.S. REIT. Arundel Plaza was fully leased at the time of financing to tenants including Lowe’s Home Improvement, Giant Food, Jersey Mike’s, FedEx, Hook & Reel, Panda Express and Chipotle Mexican Grill. …

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NewsWashington DC

NRF Projects Retail Sales Will Reach $5.2 Trillion in 2024

by Hayden Spiess

Washington, D.C. — The National Retail Federation (NRF) has projected that retail sales will reach between $5.2 trillion and $5.3 trillion this year, which would mark an increase of 2.5 to 3.5 percent. The projection was announced today during the organization’s “State of Retail and the Consumer” webinar. The calculation excludes transactions at automobile dealers, gas stations and restaurants, focusing on core retail. Non-store and online sales are included in the figure and expected to account for roughly $1.5 trillion of spending. “The resiliency of consumers continues to power the American …

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Investment salesNewsTexas

Vista Property Buys 197,553-Square-Foot Shopping Center in Lake Worth, Texas

by Hayden Spiess

Lake Worth, Texas —Vista Property has purchased Lake Worth Marketplace, a 197,553-square-foot shopping center located in Lake Worth, on the northwestern outskirts of Fort Worth. Built in phases between 2005 and 2007, the center was 93 percent leased at the time of sale to tenants including Kohl’s, Marshalls, Burlington, pOpshelf, Lane Bryant and Bath & Body Works. Barry Brown, Chris Gerard, Erin Lazarus, Keenan Ryan and Ben Pollack of JLL represented the undisclosed seller in the transaction.

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Wawa_Ocala
FloridaInvestment salesNews

SRS Brokers $3.7 Million Sale of Gas Station, Convenience Store in Central Florida 

by Hayden Spiess

Ocala, Fla. — SRS Real Estate Partners has brokered the $3.7 million sale of a 6,119-square-foot gas station and convenience store situated on 2.3 acres in Ocala, a city in Central Florida. Wawa occupies the newly constructed property on a 20-year, corporate-guaranteed ground lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based development firm, in the transaction. An undisclosed, privately held buyer purchased the property in a 1031 exchange.

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