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ArizonaDevelopmentMixed-useNews

GTIS Partners, Clyde Capital Plan $250 Million Asante Trails Mixed-Use Project in Surprise, Arizona

by Hayden Spiess

Surprise, Ariz. — A joint venture between GTIS Partners and Clyde Capital has released plans for Asante Trails, a $250 million mixed-use project in Surprise, a suburb of Phoenix. The development will feature a build-to-rent community, retail space and a medical facility, all of which will be built across 90 acres of land. In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project site to HonorHealth, one of Arizona’s largest hospital systems, to develop the medical facility. Additionally, 45 acres will be allocated to a joint …

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Raising-Cane's_Imperial-Beach-Calif
CaliforniaInvestment salesNewsRestaurants

Hanley Brokers $5.7 Million Sale of Single-Tenant Property in Metro San Diego

by Hayden Spiess

Imperial Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $5.7 million sale of a single-tenant property located in Imperial Beach, roughly 15 miles outside San Diego. Raising Cane’s Chicken Fingers occupies the building, which is situated on a 0.7-acre pad site. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, an entity doing business as Palm Avenue 111 Partners LLC, in the 1031, all-cash transaction. Scott Ketchum, a Newport Beach-based broker, represented the buyer, a family trust. 

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4130-Concord-Pike_Wilmington-Del
DelawareLeasingNews

Aldi Signs 33,262-Square-Foot Lease in Delaware

by Hayden Spiess

Wilmington, Del. — Aldi has signed a 10-year, 33,262-square-foot lease in Wilmington. The Germany-based grocer will occupy a property situated on 3.1 acres. Jim O’Hara and Neil Killian of NAI Emory Hill Real Estate Services represented the landlord, LBD Wilmington, in the lease negotiations.  Jason Block of MCS represented Aldi. 

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Fifth-Avenue
Investment salesNew YorkNews

Gucci Owner Acquires Fifth Avenue Retail Property in New York City for $963 Million

by Hayden Spiess

New York City — Global luxury group Kering has acquired a multi-level retail property at 715-717 Fifth Ave. in New York City for $963 million. The Paris-based company manages the development of a number of major fashion houses including Gucci, Saint Laurent, Balenciaga and Alexander McQueen.  The 115,000-square-foot space spans multiple levels at the base of the Corning Glass Building, a 28-story office tower developed in 1959. Rival fashion houses Dolce & Gabbana and Armani currently occupy the space. The Armani lease at the property is up in a few months, …

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Macys-Herald-Square_New-York-City
Company newsFinanceNew YorkNews

Macy’s Rejects $5.8 Billion Buyout Offer from Arkhouse, Brigade

by Hayden Spiess

New York City — Retailer Macy’s has rejected a $5.8 billion buyout offer from Arkhouse Management Co. and Brigade Capital Management. In December 2023, the investor group submitted a bid to acquire the outstanding shares of the company not already owned by Arkhouse and Brigade for $21 per share in cash. The Macy’s board of directors has since determined “not to enter into a non-disclosure agreement or provide any due diligence information to Arkhouse and Brigade,” according to a press release from the company. A letter to the would-be buyers cited …

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OaklandParkPlaza
FloridaInvestment salesNews

Flying Horse Investments Acquires 21,570-Square-Foot Retail Center in Florida

by Hayden Spiess

Oakland Park, Fla. — Flying Horse Investments (FHI) has acquired Oakland Park Plaza, a 21,570-square-foot retail center located in Oakland Park in metro Fort Lauderdale. FHI plans to implement a $1 million renovation and reposition the property over the next eighteen months and has hired Pegasus Asset Management to implement its business plan. Daniel Soloman of Katz & Associates will manage leasing at the center. Elon Gerberg of SVN represented the seller in the transaction. 

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DevelopmentGrocery-anchoredLeasingNewsSouth Carolina

Lowes Foods to Anchor 50-Acre Platt Springs Crossing Mixed-Use Development in Lexington, South Carolina

by Hayden Spiess

Lexington, S.C.  — Lowes Foods has signed a lease to anchor Platt Springs Crossing, a 50-acre mixed-use development currently underway in Lexington. Lowes Foods will occupy 51,000 square feet. Other tenants will include Chipotle Mexican Grill, Tidal Wave Car Wash, Panda Express and Planet Fitness. An affiliate of NAI Columbia doing business as LLDC Platt Springs LF LLC is the developer of the project, which is scheduled to begin opening early next year. Ben Kelly and Patrick Chambers of NAI Columbia represented the landlord in the lease negotiations with Lowes Foods. …

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SuperFresh_Middlesex-N.J
Grocery-anchoredInvestment salesNew JerseyNews

NAIDB Arranges $8.6 Million Sale of Retail Center in Middlesex, New Jersey

by Hayden Spiess

Middlesex, N.J. — NAI DiLeo-Bram & Co. (NAIDB) has arranged the $8.6 million sale of a 69,750-square-foot retail center located in Middlesex. A new 57,000-square-foot SuperFresh anchors the property. Situated on 3.9 acres adjacent to The View Apartments, the center also features a 6,115-square-foot liquor store and 6,300 square feet of second-floor office space. Marc Shein of NAIDB represented the undisclosed seller in the transaction. Bennett Realty & Development represented the buyer. 

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Slim-Chickens
DevelopmentKansasMissouriNewsRestaurants

Slim Chickens Signs 14-Unit Franchise Deal in Kansas and Missouri

by Hayden Spiess

Kansas and Missouri — Arkansas-based fast-casual brand Slim Chickens has signed a franchise deal for the development of 14 restaurants in Kansas and Missouri. Jeff McCoy of AP Restaurant Group, an established Slim Chickens franchisee with stores in Oklahoma and Kansas City, will own and operate the restaurants. Slim Chickens’ current footprint includes more than 250 locations in the U.S. and the U.K., with more than 1,200 restaurants in development. 

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