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Metropolitan-Park_Queens-N.Y
DevelopmentEntertainmentNew YorkNews

Mets Owner Steve Cohen to Develop $8 Billion Metropolitan Park in Queens, New York

by Hayden Spiess

Queens, N.Y. — Steve Cohen, owner of the New York Mets baseball team, will develop an $8 billion entertainment and sports park in Queens. Dubbed Metropolitan Park, the development will occupy the 50 acres of asphalt around Citi Field, which are currently vacant. Plans for the project include a food hall, an entertainment complex including a Hard Rock hotel, live music venue and gaming, 20 acres of park space, 5 acres of community athletic fields and playgrounds, new connections to the waterfront, a renovated mass transit station and improved roads, bike …

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Asheville-Outlets
Investment salesNewsNorth Carolina

Tanger Acquires 382,000-Square-Foot Asheville Outlets in North Carolina for $70 Million

by Hayden Spiess

Asheville, N.C. — Tanger has purchased Asheville Outlets, a 382,000-square-foot retail development located in Asheville. Sportsman’s Warehouse and a separately owned Dillard’s Clearance Center anchor the property, which was 95 percent leased at the time of sale. Other tenants include Nike, Under Armour, RH, Bath & Body Works, Crate & Barrel and West Elm. Tanger acquired the outlet mall from New England Development for $70 million. This property marks Tanger’s 38th outlet mall and the second addition to its holdings this quarter, following the opening of Tanger Outlets Nashville last month. New …

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Crystal-Point-Shopping-Center_Crystal-Lake-Ill
IllinoisInvestment salesNews

Mid-America Arranges Sale of 317,006-Square-Foot Shopping Center in Metro Chicago

by Hayden Spiess

Crystal Lake, Ill. — Mid-America Real Estate Corp. has arranged the sale of Crystal Point Shopping Center, a 317,006-square-foot shopping center located in Crystal Lake, a suburb of Chicago. Tenants at the property, which was 87 percent occupied at the time of sale, include T.J. Maxx, Best Buy, Ross Dress for Less, The Fresh Market, Ulta Beauty, Steinhafels Furniture and Cost Plus World Market. PMAT Real Estate Investments acquired the center for an undisclosed price. Ben Winmena, Rick Drogosz and Joe Girardi of Mid-America brokered the transaction on behalf of the …

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Babcock-Ranch_Fla
DevelopmentFloridaLeasingMixed-useNews

Retail Tenants Sign Leases Totaling 120,000 Square Feet at Babcock Ranch Project in South Florida

by Hayden Spiess

Babcock Ranch, Fla. — Retail tenants have signed leases totaling more than 120,000 square feet at Babcock Ranch, a solar-powered mixed-use community currently underway in South Florida. The project is entitled for 6 million square feet of commercial space, in addition to residences. Upon completion, the development will feature 4 million square feet of retail space, including shopping centers The Shoppes at Yellow Pine and Crescent B Commons. Marshalls, Ace Hardware, Five Below, Oar & Iron, Tipsy Salonbar, Fountain Pools, Seymour Orthodontics, Yummy Thai & Chinese, Verizon, Papa Johns, Carvel and …

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California-Plaza_Fresno-Calif
CaliforniaInvestment salesNews

Graystone Brokers $5 Million Sale of Retail Center in Fresno, California 

by Hayden Spiess

Fresno, Calif. — Graystone Capital Advisors has brokered the $5 million sale of California Plaza, a retail center located in Fresno. Built in 1987, the property comprises 39,170 square feet situated on a 194,182-square-foot parcel. The center was 38 percent leased at the time of sale. Brent Zoller and Brenton Baskin of Graystone represented the seller and procured the buyer. 

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Huntington-Shopping-Center_Huntington-N.Y
DevelopmentLeasingNew YorkNews

Four Tenants Sign Leases at $75 Million Huntington Shopping Center Redevelopment in New York

by Hayden Spiess

Huntington, N.Y. — Four new tenants have signed leases at Huntington Shopping Center, a 21-acre retail center located in Huntington on Long Island. Williams Sonoma, J. Crew, Paris Baguette and BFT Fitness will occupy 5,317; 7,766; 2,776; and 2,649 square feet, respectively. Other tenants at the center include The Container Store, Whole Foods Market, REI, Lovesac, Burger Village and Just Salad. The landlord, Federal Realty Investment Trust, is currently underway on a $75 million redevelopment of the property. Upon completion of the project, which is scheduled for next year, the center …

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Toys "R" Us
LeasingMinnesotaNews

Toys “R” Us to Open 11,000-Square-Foot Flagship Store at Mall of America in Minnesota

by Hayden Spiess

Bloomington, Minn. — WHP Global, parent company of Toys “R” Us, will open an 11,000-square-foot flagship store within the 5.6 million-square-foot Mall of America in Bloomington, roughly 10 miles outside Minneapolis. Scheduled to open before Thanksgiving, the store marks the second flagship store in the country and the first in partnership with Go! Retail Group. Additional openings are scheduled for next year. Beginning next year, the Mall of America shop will also introduce branded elements including a Geoffrey’s Café and ice cream parlor as well as interactive experiences and product demonstrations. 

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Sip-Fresh
CaliforniaDevelopmentLeasingNews

Sip Fresh Signs Three-Unit Franchise Development Deal for Southern California

by Hayden Spiess

Huntington Beach, Calif. — Beverage concept Sip Fresh has signed a franchise deal for the development of three new stores in Southern California. Franchisees Brittany, Bryson and Risa Berryman will open the units, which are expected to be located within shopping centers in the Huntington Beach and Newport areas. Sip Fresh stores typically comprise between 400 and 1,400 square feet. 

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Investment salesNewsTexas

STRIVE Arranges Sale of 4,797-Square-Foot Gas Station Property in Grapevine, Texas

by Hayden Spiess

Grapevine, Texas — STRIVE has arranged the sale of a 4,797-square-foot gas station property located in Grapevine. QuikTrip occupies the property, which was built in 2010. Michael Crovetti and Adam Gottschalk of STRIVE represented the seller, a Kansas-based investor, in the transaction and procured the buyer, a Texas-based investor. 

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South-Mountain-Crossing_Phoenix
ArizonaInvestment salesNews

Colliers Arranges Sale of 89,389-Square-Foot Retail Center in Phoenix

by Hayden Spiess

Phoenix — Colliers has arranged the sale of South Mountain Crossing, an 89,389-square-foot retail center located in Phoenix. ACP Management acquired the property. Tenants at the center include SkyZone Trampoline Park, Goodwill and Kids Empire. Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo of Colliers represented the seller, Lamar Cos., in the transaction. 

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