Lewisville, Texas — Disney Investment Group (DIG) has brokered the sale of Valley Square, a 57,812-square-foot retail center located in Lewisville in the Dallas-Fort Worth metro. LRIC Properties sold the center to an undisclosed buyer. The property was fully leased to 21 tenants at the time of sale. David Disney and Adam Crockett of DIG represented the seller in the transaction, and Will Walters of DuWest Realty represented the buyer.
Albany, Ga. — Frozen yogurt brand TCBY has announced that it will open a new shop in Albany. Franchisees Clay and Taylor Wiggins will own and operate the venue, which marks the fifth outpost in the state for TCBY. Scheduled to open Oct. 26, the store will span 1,120 square feet with indoor and outdoor seating, as well as a walk-up window and drive-thru.
King of Prussia, Pa. — AT&T has opened a new, 2,600-square-foot store in King of Prussia, roughly 20 miles outside Philadelphia. Situated across from the King of Prussia Mall, the freestanding store features 25 dedicated parking spaces. Adam Goodman of Goodman Properties developed the property. Richard Soloff of Soloff Realty & Development and Adam Goodman of Goodman Properties brokered the lease.
Chicago — Hardware retailer True Value Co. LLC has initiated voluntary Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware. The Chicago-based retailer has also entered into an agreement to sell substantially all of its business operations to Do it Best Corp., another entity within the home improvement retail sector and former rival. According to Reuters, Do it Best will serve as the stalking horse bidder for True Value with an acquisition price set at $153 million in cash and the assumption of $45 million in contracts and …
Deerfield, Ill. — Walgreens Boots Alliance Inc. (Nasdaq: WBA) unveiled in its fiscal year 2024 earnings report that it plans to close 1,200 stores over the next three years, with roughly 500 of the closures scheduled for the 2025 fiscal year. “In fiscal 2025, we are focusing on stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow and continuing to address reimbursement models to support dispensing margins and preserve patient access for the future,” says Tim Wentworth, chief executive officer of Walgreens. “Fiscal 2025 will be …
Houston — JLL has brokered the sale of Little York Plaza, a 114,982-square-foot shopping center located in Houston. Hispanic grocer Sellers Bros. anchors the property, which was built in 1987. Other tenants at the center include Dollar Tree, Melrose Family Fashions and Aaron’s Appliances. Ryan West and John Indelli of JLL represented the undisclosed seller in the transaction. The buyer was The Criterion Fund.
Lexington, Ky. — Honey Baked Ham Co. has opened a new store in Lexington. Totaling 4,000 square feet, the store features seating capacity for 20 guests. Originally founded in 1957, the company’s portfolio features 400 locations throughout the country.
Fresno, Calif. — Faris Lee Investments has arranged the $5.3 million presale of a newly constructed, single-tenant retail property in Fresno. The Learning Experience daycare occupies the property on a long-term 20-year net-lease basis. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the undisclosed seller in the transaction.
Orlando, Fla. — Marcus & Millichap has brokered the $10.8 million sale of Turkey Lake Plaza, a retail center located in Orlando. Built in 2010, the property totals 19,719 square feet. Turkey Lake Plaza was leased to 12 tenants at the time of sale, including Gyu-Kaku Japanese BBQ. Tarek Chbeir of Marcus & Millichap procured the buyer, a local investor, in the transaction. The seller was also not disclosed.
Irving, Texas — Global convenience store operator 7-Eleven will close more than 400 of its North American stores, according to reports from multiple news outlets including NPR and CBS News. Both news outlets noted that the announcement to shutter some 440 stores throughout the United States and Canada was delivered on Thursday, Oct. 10, during a conference call held by Seven & I Holdings, the Japan-based parent company of 7-Eleven. The company’s U.S. operations are headquartered in Irving, Texas. CBS states that the locations to be shuttered represent roughly 3 percent of 7-Eleven’s total North American …
