Houston — High Five Mini Bar will open this month at Stomping Grounds, a retail development located in the Garden Oaks neighborhood of Houston. Occupying 126 square feet, the bar will mark the debut of the craft cocktail concept by Will Ebarb and Chris Cusack. RE:VIVE Development is the developer and landlord at the property.
Hudson, Ohio — Joann Inc. (NASDAQ: JOAN), a fabrics and sewing retailer based in Hudson, has filed for prepackaged Chapter 11 bankruptcy. The company’s 829 stores and its website (JOANN.com) will remain open for business. Following the bankruptcy process, if approved, Joann will become a private company owned by some of its lenders and other industry parties, and its shares will no longer be listed on Nasdaq or any other national stock exchange. As of this writing, the company’s stock has been delisted. Joann expects to emerge from the voluntary bankruptcy process …
McKinney, Texas —Hospitality and entertainment operator Notes Live will open Sunset Amphitheater, a $220 million live music and entertainment venue, in the northern Dallas suburb of McKinney. Situated on a 46-acre site, the venue will have the capacity to house about 20,000 people and will feature more than 250 luxury firepit suites, owners club seats and traditional reserved seats in the middle and lower levels of the bowl. Construction is scheduled to begin before the end of the year, with completion expected in 2026.
Chattanooga, Tenn. — Marcus & Millichap has brokered the $3.6 million sale of Brainerd Market Center, a 44,800-square-foot retail center located in Chattanooga. The property was 80 percent leased at the time of sale. Situated two miles from Chattanooga Metropolitan Airport, Brainerd Market Center is shadow-anchored by a Walmart Supercenter and is adjacent to East Gate Town Center. Zach Taylor of Marcus & Millichap represented the seller, an undisclosed Tennessee-based developer, in the transaction. Jody McKibben, Marcus & Millichap’s broker of record in Tennessee, assisted in closing the transaction.
Atlanta — Two restaurants will open at Uptown Atlanta, a 47-acre mixed-use development in Atlanta. J’ouvert Caribbean Kitchen and El Gordo are both scheduled to open this week, marking the first food-and-beverage openings at the property. Concepts Bene Korean, White Windmill and Madre Selva have also signed leases at the development. Rubenstein Partners is the developer and landlord.
Johns Creek, Ga. — Toro Development Co. has acquired 43 acres in the northern Atlanta suburb of Johns Creek for its upcoming Medley mixed-use development. Toro purchased the parcel for $44 million. Currently, the property features a four-story office building, as well as the site of another, demolished office building and surface parking. Plans for Medley include 200,000 square feet of retail, restaurant and entertainment space, in addition to office and residential space and a central green space. Tenants at the development will include Ford Fry’s Little Rey, CRÚ Food & …
Merced, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of two single-tenant retail properties located in Merced. Private buyers purchased the properties in separate transactions totaling $8.2 million. Developer Chase Partners Ltd. was the seller. Starbucks Coffee occupies one of the properties, which comprises 1,000 square feet and sold for $2.9 million, on a new 10-year triple-net lease. The other property totals 4,088 square feet and is occupied by 7-Eleven on a new 15-year triple-net lease. Bill Asher and Jeff Lefko of Hanley represented the seller in …
Lancaster and Palmdale, Calif. — A private investor has acquired two retail properties in southern California for a total $6.8 million. IHOP occupies both properties, which are located in Lancaster and Palmdale, on a net-lease basis. Deal terms include a new 23-year lease that commenced at the close of escrow, 1.5 percent annual increases and a 30-unit guarantee. Andre Thompson and Peter Deltondo of Marcus & Millichap represented the seller, a private investor, and secured the buyer in the transaction.
Carrollton, Ga. — Stratus Property Group has acquired a 38,000-square-foot shopping center located downtown Carrollton, roughly 45 miles west of Atlanta. The purchase included three acres of land. Tenants at the property include Shuckers Oyster House and Sutton’s American Grill. Stratus Property Group plans to reimagine the center, in collaboration with the City of Carrollton.
Sandy Springs, Ga. —CHEF’STORE has signed a 28,000-square-foot lease in Sandy Springs, a northern suburb of Atlanta. The retailer, which caters to food industry professionals and at-home chefs, will occupy space within City Center Crossing, a 98,048-square-foot shopping center. First National Realty Partners (FNRP) is the landlord. The store, which is scheduled to open this year, marks the first in metro Atlanta for CHEF’STORE. FNRP purchased City Center Crossing in 2021. Other tenants at the center include Planet Fitness, Gold Fish Swim School and Hudson Grille.
