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CaliforniaInvestment salesNews

Unibail-Rodamco-Westfield Sells 1.1 Million-Square-Foot Westfield Mission Valley Shopping Center in San Diego for $290 Million

by Hayden Spiess

San Diego — French investor Unibail-Rodamco-Westfield (URW) has sold Westfield Mission Valley, a 1.1-million-square-foot retail center in San Diego, for $290 million. The center was developed on two parcels of property; URW sold the eastern portion to Lowe and Real Capital Solutions, while Sunbelt Investment Holdings Inc. bought the smaller western parcel. The Westfield Mission Valley shopping mall, the eastern part of the property, was originally built in 1960 on a 41-acre site. The center currently offers 73 shops, including Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet and a 24-Hour Fitness, as well …

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Pocatello-Square_Pocatello-Idaho
IdahoInvestment salesNews

Kidder Matthews Brokers Sale of 139,064-Square-Foot Shopping Center in Pocatello, Idaho

by Hayden Spiess

Pocatello, Idaho — Kidder Matthews has brokered the sale of Pocatello Square, a 138,064-square-foot shopping center located in Pocatello. Tenants at the property, which was built in 2006 and fully leased at the time of sale, include Dick’s Sporting Goods, Grocery Outlet, Ross Dress for Less, JOANN Fabric and Crafts and Old Navy. Mike King, Erik Swanson, Darren Tappen, Peter Beauchamp and Nathan Thinnes of Kidder Matthews represented the seller, CWCapital, in the transaction. An undisclosed buyer purchased the center through CWCapital’s online auction platform, RI Marketplace. 

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Uptown-Plaza_Houston
Investment salesNewsTexas

JLL Arranges Sale of 28,000-Square-Foot Retail Center in Houston

by Hayden Spiess

Houston — JLL Capital Markets has arranged the sale of Uptown Plaza, a 28,000-square-foot retail center located in Houston. Developed in 2002, the property was fully leased at the time of sale. Tenants at the center include CVS/pharmacy, Vision Corner, EG Geller Shoes, Lesley Ann Jewels, Alchemy 43, Fizz Nails and Grotto. Ryan West, John Indelli and Erin Lazarus of JLL represented the undisclosed seller in the transaction. Pine Ridge Real Estate acquired the property for an undisclosed price. 

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Cinépolis_Inglewood-Calif
CaliforniaDevelopmentEntertainmentLeasingNews

Cinépolis to Open 55,137-Square-Foot Theater in Inglewood, California

by Hayden Spiess

Inglewood, Calif. — Cinépolis Luxury Cinemas will open a 55,137-square-foot theater at Hollywood Park, a mixed-use development currently underway in Inglewood. Scheduled to open this month and dubbed Cinépolis Luxury Cinemas Inglewood IMAX, the space will feature 12 screens and 1,236 seats. 

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Club-Studio
CaliforniaLeasingNews

Club Studio to Open 48,000-Square-Foot Fitness Studio in Santa Monica, California

by Hayden Spiess

Santa Monica, Calif. — Fitness concept Club Studio will open a 48,000-square-foot studio at Santa Monica Place, a Macerich property in Santa Monica. Located on the first level of the property, the space will feature five boutique studio rooms, as well as a recovery space, steam rooms, infrared saunas, a juice bar and retail store. A timeline for the opening was not disclosed. 

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LaCenterra-at-Cinco-Ranch_Katy-Texas
LeasingNewsRestaurantsTexas

Two Tenants Sign Leases Totaling 3,768 Square Feet at LaCenterra at Cinco Ranch in Texas

by Hayden Spiess

Katy, Texas — Two tenants have signed leases at LaCenterra at Cinco Ranch, a shopping center located in Katy. Kilwin’s, a sweets shop, will occupy a 1,014-square-foot space at the property beginning in the fourth quarter of this year. Nando’s will also open a 2,754-square-foot restaurant at the center in the first quarter of 2024. JLL manages the property. 

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WHP-Global-New-Flagship-American-Dream
Company newsLeasingNew JerseyNews

Babies”R”Us Opens Flagship Store at American Dream Development in Metro New York City

by Hayden Spiess

East Rutherford, N.J. — Babies”R”Us has opened flagship store at American Dream, a 3 million-square-foot retail development located in East Rutherford, roughly 13 miles outside New York City. In addition to a baby registry lounge, nursery design center, learning center and comfort zone, the store features interactive experiences. This marks the return of the chain to the U.S. following WHP Global’s acquisition of both the Babies”R”Us and Toys”R”Us brands in 2021 and the opening of a Toys”R”Us flagship store last year. 

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Westwood-Plaza_Greenwood-S.C
Investment salesNewsSouth Carolina

Cushman & Wakefield Arranges $10.8 Million Sale of Retail Center in Greenwood, South Carolina

by Hayden Spiess

Greenwood, S.C. — Cushman & Wakefield has arranged the $10.8 million sale of Westwood Plaza, an 83,354-square-foot retail center located in Greenwood. Planet Fitness, Dollar Tree and Popshelf anchor the center. Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the undisclosed seller in the transaction. Prudent Growth Partners acquired the property. 

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NewsWashington DC

US Retail Sales Rise in June, NRF Predicts Strong July Activity with Back-to-School Shopping

by Hayden Spiess

Washington, D.C. — The U.S. Census Bureau reports that overall retail sales in June rose 0.2 percent from May and 1.5 percent from June 2022. The Wall Street Journal reports that the retail sector’s three consecutive months of positive sales activity can be attributed in part to inflation easing. The Consumer Price Index, the U.S. Bureau of Labor Statistics’ leading indicator for inflation, rose at an annualized rate of 3 percent in June, the lowest figure since March 2021. The National Retail Federation (NRF), a Washington, D.C.-based advocacy organization for the retail industry, …

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Chick-fil-A_LaGrange
GeorgiaInvestment salesNewsRestaurants

Marcus & Millichap Brokers $3.3 Million Sale of Single-Tenant Property in LaGrange, Georgia

by Hayden Spiess

LaGrange, Ga. —Marcus & Millichap has brokered the $3.3 million sale of a newly constructed single-tenant property in LaGrange. Chick-fil-A occupies the 5,000-square-foot property, which is as an outparcel to a new Publix-anchored shopping center, on a 15-year ground lease. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the undisclosed seller in the transaction.

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