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ColoradoInvestment salesNews

Evergreen Sells Six Retail Parcels at West Mesa Commons in Colorado Springs, Colorado

by Hayden Spiess

Colorado Springs, Colo. — Evergreen Devco has sold six retail parcels located at West Mesa Commons shopping center in Colorado Springs. Totaling 8.5 acres, the parcels are situated within a 51-acre mixed-use development project by Evergreen, which also includes an apartment community and townhome community. A 2,213-square-foot Starbucks Coffee occupies one of the parcels, and other tenants include a 5,606-square-foot Super Star Car Wash and a 5,533-square-foot Circle K. Pacific Dental Services plans to begin construction at the property this fall, and Popeyes and Les Schwab Tire Center also plan to …

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CaliforniaInvestment salesNet leaseNews

CBRE Arranges $6.8 Million Sale of Rite Aid-Leased Building in Banning, California

by Hayden Spiess

Banning, Calif. — CBRE has brokered the $6.8 million sale of a retail building located in Banning. A local private investor acquired the property from another private investor.  David McNevin, Melissa Ley Marshall and Ian Schroeder of CBRE represented the seller in the transaction. Rite Aid occupies the 17,272-square-foot property, which was built in 2009, on a double-net lease.

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Investment salesNet leaseNew YorkNews

Boulder Group Arranges $5 Million Sale of Single-Tenant Property Leased to 7-Eleven in New York

by Hayden Spiess

Haverstraw, N.Y. — The Boulder Group has arranged the $5 million sale of a 3,034-square-foot retail property in Haverstraw that is net leased to 7-Eleven. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a regional developer, in the transaction. The buyer was a New York-based private investor that acquired the asset via a 1031 exchange. 

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Company newsNew YorkNews

Coach Owner to Acquire Parent Company of Michael Kors, Versace for $8.5 Billion 

by Hayden Spiess

New York City — Tapestry (NYSE: TPR), owner of fashion brands Coach, Kate Spade and Stuart Weitzman, has agreed to acquire luxury fashion group Capri Holdings Limited (NYSE: CPRI) for $8.5 billion. Both companies are based in New York City. Capri Holdings consists of Versace, Jimmy Choo and Michael Kors. The group spans a retail footprint of over 1,200 stores globally, including 223 Versace locations, 237 Jimmy Choo stores and 812 Michael Kors locations.  The all-cash transaction, which was unanimously approved by the board of directors at both Tapestry and Capri …

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Company newsLeasingNew JerseyNews

Spirit Halloween to Open 1,500 Stores in 2023

by Hayden Spiess

Egg Harbor Township, N.J. — New Jersey-based Spirit Halloween has announced that it will open more than 1,500 seasonal stores throughout the U.S. this year. Stores typically occupy between 5,000 and 50,000 square feet and remain open eight to ten weeks. The company plans to hire 40,000 associates to staff the locations. 

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Investment salesMissouriNews

Marcus & Millichap Brokers $9.1 Million Sale of Retail Strip Center in Branson, Missouri

by Hayden Spiess

Branson, Mo. — Marcus & Millichap has brokered the $9.1 million sale of Lakeside Shoppes at Branson Landing, a 30,763-square-foot retail strip center in Branson. Built in 2015, the property is located directly adjacent to Branson Landing, a $435 million waterfront development situated on 95 acres along the banks of Lake Taneycomo. Tenants at the center include Qdoba Mexican Grill, Tropical Smoothie Café, Cold Stone Creamery and Pappo’s Pizzeria & Pub. Chris Garavaglia, Alex Perez and Austin Sweet of Marcus & Millichap represented the seller, a limited liability company. The buyer …

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Investment salesNewsTexas

JLL Arranges Sale of 261,730-Square-Foot Shopping Center in Fort Worth, Texas

by Hayden Spiess

Fort Worth, Texas — JLL Capital Markets has arranged the sale of Eastchase Market, a 261,730-square-foot shopping center in Fort Worth. Built in 1995, the property was 92 percent occupied at the time of sale to tenants including AMC Theatres, Ross Dress for Less, Spec’s, Big Lots, Harbor Freight Tools and Marshalls. Adam Howells, Barry Brown and Cole Sutter brokered the sale on behalf of the undisclosed seller. 

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CaliforniaInvestment salesNews

DMI Real Estate Group Sells Two Retail Centers in California for $25.5 Million

by Hayden Spiess

La Habra and La Palma, Calif. — DMI Real Estate Group has sold La Palma Collection and The Row on Harbor in California for a total of $25.5 million. The Row on Harbor in La Habra features 23,314 square feet of retail space. At the time of sale, the property was fully leased to 14 tenants, including EggBred, AkaFuji, Furai Chicken, Bodhi Leaf Coffee Traders, Code Ninjas and Club Pilates. A 1031 all-cash buyer acquired the property for $12.5 million. Located in La Palma, La Palma Collection features 23,882 square feet …

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DevelopmentNew JerseyNews

Accurate, DeVimy Open 140,000-Square-Foot Retail Center in New Jersey

by Hayden Spiess

Morris Township, N.J. — A joint venture between Accurate and DeVimy Equities has opened Morris Marketplace, a 140,000-square-foot retail center located in Morris Township. Of the 24 tenants that have signed leases at the property, 17 are currently open. Tenants at the center include Burlington, European Wax, Tropical Smoothie, Wells Fargo, Jersey Mike’s and Orangetheory Fitness. 

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ColoradoLeasingNews

Tenants Sign Leases Totaling 66,000 Square Feet at Shops at Northfield in Denver

by Hayden Spiess

Denver — New tenants have signed leases totaling roughly 66,000 square feet at Shops at Northfield, an open-air retail center located in Denver, bringing the property to 96 percent occupancy. P.F. Chang’s, Bowlero, Sephora and a lululemon pop-up store are among the new tenants at the center, which comprises 769,359 square feet and was built in 2006. Stockdale Capital Partners is the landlord. 

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