Las Vegas — Phenix Salon Suites has six new locations in Vancouver, Washington; New York City; Schererville, Indiana; Long Beach, California; and Cedar Hill, Texas. The Las Vegas-based company began franchising in 2012 and has 400 locations open across 33 states with plans to expand internationally.
Colonial Heights, Va. — Legacy Realty Group Advisors has arranged the sale of Walthall Shopping Center, a 46,400-square-foot shopping center in Colonial Heights, roughly 20 miles outside Richmond. Built in 1988, the center is anchored by Food Lion. Additional tenants at the property include a salon, Excel Chinese Restaurant and Swan Cleaners. Jacob Baruch and Daniel Baruch of Legacy represented the undisclosed buyer. Steve Yoon of Champion Realty Investment represented the seller in the off-market transaction.
Monterey, Calif. — Federal Realty Investment Trust has acquired Del Monte Shopping Center, a 674,000-square-foot retail development located in Monterey, for $123.5 million. Originally built in 1967 and renovated in 2007, the center is situated on 47 acres. Whole Foods Market anchors the property, which was 83 percent leased at the time of sale. Other tenants at the center include Sephora, lululemon, Pottery Barn, Century Theatres, Macy’s and Anthropologie. According to Placer.ai, the development ranks among the top five percent of shopping centers in the United States for annual foot …
New York City and Atlanta — Global Net Lease Inc. has entered into a binding agreement to sell its multi-tenant retail portfolio of 100 non-core properties to a subsidiary of RCG Ventures Holdings LLC, for approximately $1.8 billion. The transaction represents an 8.4 percent cash cap rate. GNL says the transaction would accelerate its deleveraging initiative and position the company as a pure-play, single-tenant net lease (STNL) company. GNL launched its disposition initiative in 2024, with the objectives of significantly reducing debt, enhancing financial flexibility and lowering its cost of …
Portland, Ore. — Ethos Commercial Advisors has arranged acquisition financing for Eastport Plaza, a 275,518-square-foot shopping center located in Portland’s Jade District. The property is anchored by Ross Dress for Less, LA Fitness, Dollar Tree and a Regal movie theater. The undisclosed buyer recently backfilled a 28,000-square-foot space at the center, formerly occupied by JOANN Fabric and Crafts, with an undisclosed national tenant, bringing occupancy to 95 percent. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors arranged the five-year, fixed-rate loan with a life insurance company. The loan financing …
Westlake, Ohio — Stark Enterprises has leased space to 11 tenants at Crocker Park, the locally-based developer’s mixed-use property in Westlake. A mix of retail and restaurant concepts — Color Me Mine; Garage; Océanne; State & Liberty; Ten Seconds Yunnan Rice Noodle; Tradehome Shoes; and Vera Bradley — have already opened or will be opening in March. Existing retail and office tenants including Arhaus, Palmer Holland and Lucky Shoes have expanded their locations or moved into larger spaces within the development. CPL Architecture, Engineering & Planning has also leased office …
El Centro, Calif. — CBRE has been selected to provide leasing and management services for Imperial Valley Mall, a 761,275-square-foot shopping center located in El Centro. Tryperion Holdings, Peak Financial Partners and Duke Real Estate acquired the center earlier this month, with plans to invest in facility operations and improvements to the physical infrastructure of the building. Joe Yetter and John Stevens of CBRE will manage leasing efforts for the property. Opened in 2005, Imperial Valley Mall is anchored by Dillard’s, JCPenney, Macy’s and a Cinemark Theatre.
New York City — JOANN has announced it will close all of its stores after the fabric and craft retailer was auctioned off to a new ownership group. Earlier this month, JOANN announced the closures of approximately 500 of its more than 800 locations across the United States. The announcement comes after the Hudson, Ohio-based retailer filed for Chapter 11 bankruptcy protection in January — the second time in a year — where JOANN’s remaining assets were put up for auction. Retail liquidator GA Group and JOANN’s term lenders won …
Middletown, Del. — Blenheim Group has broken ground on a 64,000-square-foot Weis Markets location at Bayberry Town Center, a mixed-use development currently underway in Middletown. Marking its fourth store in Delaware and its first ground-up development, the location will include fresh food departments, a grocery department and pharmacy, as well as a Weis Gas N’ Go fuel center. The grocery store and fuel center are scheduled to open in the fourth quarter of 2025. Weis Markets is part of the larger master-planned community of Bayberry Town Center, which will span …
Sarasota, Fla. — World Market will open an 18,369-square-foot store in Sarasota. Located in the Sarasota Pavilion Shopping Center, the new store will mark World Market’s 14th location in the state of Florida. The specialty retailer is known for its assortment of furniture, home décor, imported rugs and curtains, as well as its selection of candy, beverages and international food products. The grand opening will be held on Friday, February 28.
