News

Pearl-Street
DevelopmentFloridaMixed-useNews

Gateway Jax Receives Approval for $2 Billion Mixed-Use Project in Downtown Jacksonville

by Hayden Spiess

Jacksonville, Fla. — Gateway Jax has received approval from the Jacksonville City Council for the development of Pearl Street District, a $2 billion mixed-use project set to span 25 blocks in downtown Jacksonville.  Plans for the development include 1,000 residential units; more than 100,000 square feet of retail space; public gathering spaces, including parks surrounding the historic Porter House mansion; widened and shaded sidewalks; and a curbless “festival street” with outdoor dining. Gateway Jax bought the site last year. Anticipated tenants for the retail portion of the project include a full-service …

Continue Reading
0 FacebookTwitterLinkedinEmail
West-Ashley-Station_Charleston
DevelopmentNewsSouth Carolina

SJC Ventures Completes Phase II of West Ashley Station Shopping Center in Charleston

by Hayden Spiess

Charleston, S.C. —SJC Ventures, with general contractor Hill Construction, has completed the development of Phase II of West Ashley Station, a shopping center located in Charleston’s West Ashley neighborhood. Totaling 29,000 square feet, the second phase is fully leased to tenants including Hollywood Feed, Hand & Stone, Another Broken Egg, Pacific Dental, GoodVets, Jersey Mike’s Subs, Nothing Bundt Cakes, CAVA, Nikita Hair Salon, House of Sage and Serotonin Centers. All tenants are scheduled to be open by February 2025. John Orr and Lindsey Halter of Carolina Retail Experts marketed West Ashley …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesMarylandNews

CRC Sells Shopping Center in Maryland for $36.3 Million

by Hayden Spiess

Hagerstown, Md. — Continental Realty Corp. (CRC) has sold Centre at Hagerstown, a shopping center located in northern Maryland, for $36.3 million. JLL brokered the transaction. CRC purchased the 292,000-square-foot shopping center in 2019 for $23.5 million and has since sold nine of the center’s 10 freestanding pad sites for a total of $16.1 million. Centre at Hagerstown was roughly 97 percent leased at the time of sale to tenants including Burlington, Crunch Fitness, HomeGoods, Marshalls, PetSmart, Regency Furniture, 2nd & Charles and Party City.

Continue Reading
0 FacebookTwitterLinkedinEmail
Mesa-Ranch-Plaza-Mesa-AZ
ArizonaInvestment salesNews

SimonCRE Sells 130,000-Square-Foot Retail Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — SimonCRE has sold Mesa Ranch Plaza, a 130,000-square-foot retail center in Mesa. An entity doing business as Mesa Ranch 24 LP acquired the property, which was 99 percent occupied at the time of sale, for $26 million. Alex Kozakov and Patrick Wade of CBRE represented both the buyer and seller in the transaction. Michael Hackett of CBRE served as the local market expert for the deal.

Continue Reading
0 FacebookTwitterLinkedinEmail
Fountain Hills Plaza
ArizonaGrocery-anchoredInvestment salesNews

FNRP Acquires 111,284-Square-Foot Shopping Center in Arizona

by Hayden Spiess

Fountain Hills, Ariz. — First National Realty Partners (FNRP) has acquired Fountain Hills Plaza, a 111,284-square-foot shopping center located in Fountain Hills. Bashas’ anchors property, which was 90 percent leased at the time of sale. Other tenants at the center include Ace Hardware, AutoZone, H&R Block and Great Clips. This marks the firm’s second acquisition in the state. Patrick Dempsey of JLL represented the undisclosed seller in the transaction. 

Continue Reading
0 FacebookTwitterLinkedinEmail
LL-Flooring
Company newsFinanceNewsVirginia

LL Flooring Files for Chapter 11 Bankruptcy Protection, Plans to Close 94 Stores

by Hayden Spiess

Richmond, Va. — LL Flooring (NYSE: LL), a specialty flooring retailer, has commenced voluntary Chapter 11 bankruptcy proceedings. The Richmond, Virginia-based company, which operates more than 300 stores, will also be delisted from the New York Stock Exchange. The company plans to use the Chapter 11 proceedings to pursue a “going concern sale” of its business, meaning that a buyer could continue business upon acquisition. LL Flooring says it “remains in active negotiations with multiple bidders” and hopes to seek approval from the U.S. Bankruptcy Court for the District of Delaware …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsTexas

Lincoln Property Co. Invests in Centennial

by Hayden Spiess

Dallas — Dallas-based Lincoln Property Co. has announced a strategic investment in retail real estate owner and operator Centennial. According to the companies, Lincoln has committed a “significant” amount of capital for the future acquisition and redevelopment of retail and mixed-use developments, which will be jointly owned by Lincoln and Centennial. Lincoln has also invested in Centennial’s operating platform.  Centennial, which was founded in 1997 and is also based in Dallas, currently operates more than 23 million square feet of retail and mixed-use properties across 18 states.  Whitney Livingston, president of …

Continue Reading
0 FacebookTwitterLinkedinEmail
Lee-Vista-Promenade_Orlando-Fla
FloridaInvestment salesNews

Colliers Brokers $68.5 Million Sale of Shopping Center in Orlando

by Hayden Spiess

Orlando, Fla. — Colliers has brokered the $68.5 million sale of Lee Vista Promenade, a shopping center located in Orlando. Brad Peterson, Whitaker Leonhardt and Eric AmRhein of Colliers represented the seller, SITE Centers, in the transaction. Built in 2016, the property totals 313,981 square feet. Tenants at the center, which was 95.5 percent occupied at the time of sale, include Academy Sports, Epic Theaters, Ross Dress for Less, HomeGoods, Michaels, Bealls Outlet, Petco, Ulta Beauty, Five Below and Famous Footwear. Donald Jennewein of Colliers arranged financing through City National Bank …

Continue Reading
0 FacebookTwitterLinkedinEmail
River District
IllinoisInvestment salesMixed-useNews

Bucksbaum Properties Acquires 71,000-Square-Foot Mixed-Use Property in Metro Chicago

by Hayden Spiess

Naperville, Ill. — Bucksbaum Properties has acquired River District, a 71,000-square-foot mixed-use development situated on 2.7 acres in Naperville, roughly 35 miles outside Chicago. Built in 1988, the property features 59,000 square feet of retail space and 12,000 square feet of second-floor office space. Retail tenants at the development include Rosebud, Fat Rosie’s Taco & Tequila Bar, Chipotle Mexican Grill and Five Guys. According to a press release issued by the company, the acquisition is part of a strategy to acquire “assets that offer a long-term potential for higher and better …

Continue Reading
0 FacebookTwitterLinkedinEmail
Tokyo Central
CaliforniaLeasingNews

Tokyo Central to Open 40,635-Square-Foot Store at Bay Street Emeryville in California

by Hayden Spiess

Emeryville, Calif. — Tokyo Central has signed a lease at Bay Street Emeryville in Emeryville, with plans to open a 40,635-square-foot store at the newly redeveloped retail center. Owned by Pan Pacific Retail Management (PPRM), the Asian grocery concept features imported Japanese goods. Scheduled to open next year, Tokyo Central at Bay Street will also include a Japanese cuisine dining establishment. CenterCal Properties, which acquired the center in 2021, is the landlord. Other recent openings at the property include Mumu Hot Pot, Fogo de Chão, Flores Cocina & Bar, Pippal, Tipsy …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts