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LeasingNewsRestaurantsTexas

Five New Restaurants Totaling 12,089 Square Feet to Open at Katy Grand in Metro Houston

by Hayden Spiess

Katy, Texas — Five new restaurants totaling 12,089 square feet will open at Katy Grand, a dining and entertainment destination located in Katy, roughly 30 miles west of Houston. Korean Steak House & Bar will lease 4,971 square feet at the development, and Uncle Tetsu and Wushiland Boba will open restaurants comprising 1,050 and 1,405 square feet, respectively. Additionally, Patis & Toyo will occupy 1,533 square feet and Fat Boys Pizza will lease 3,850 square feet. All of the restaurants will join the development — which totals 944,803 square feet — …

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Riverfront-Plaza
ArizonaGrocery-anchoredInvestment salesNews

Westwood Financial Sells 125,716-Square-Foot Retail Center in Phoenix

by Hayden Spiess

Phoenix — Westwood Financial has sold Ahwatukee Mercado, a 125,716-square-foot retail center located in Phoenix, to a private buyer for an undisclosed price. Built in 1985, the property is anchored by Safeway. Other tenants at the center, which was 95 percent leased at the time of sale, include Great Clips, H&R Block, Subway, Dogtopia and Biscuits Restaurants. Westwood acquired the center in 2019.

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DevelopmentGrocery-anchoredNew YorkNews

Regency Centers, Blumenfeld Development Group Plan 168,000-Square-Foot Redevelopment in Long Island

by Hayden Spiess

Long Island, N.Y. — Regency Centers and Blumenfeld Development Group have announced plans for the 168,000-square-foot redevelopment of SunVet Mall in Long Island. Upon completion, Whole Foods Market will anchor the property, which will be transformed into an open-air shopping center featuring two junior anchors, as well as 53,000 square feet of shops and six outparcels. Regency will hold the majority interest in the joint venture and oversee leasing and operations at the center.

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Outdoor-World
DevelopmentFloridaLeasingNews

Bass Pro Shops to Open 100,000-Square-Foot Outdoor World Store in Metro Jacksonville

by Hayden Spiess

 St. Augustine, Fla. — Bass Pro Shops has announced that it will open an Outdoor World store in St. Augustine, approximately 40 miles southeast of Jacksonville. Upon completion, the store will comprise 100,000 square feet and offer boating merchandise in addition to other outdoor gear and apparel. The opening is scheduled for 2024. This will mark the thirteenth location for Bass Pro Shops in Florida.

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Alterra-Real-Estate-Advisors
Investment salesMixed-useNewsOhio

Alterra Acquires Mixed-Use Property in Columbus, Ohio for $3.1 Million

by Hayden Spiess

Columbus, Ohio — Alterra Real Estate Advisors has acquired a mixed-use building in Columbus for $3.1 million. Constructed in 1986, the building comprises three stories and 62,000 square feet of retail and office space. Auto Owners Life Insurance Co., which is a tenant at the building, was a seller. Other tenants include BHM CPA Group, J Gilberts, Salon Lofts, Auto Owners Insurance, Fishbeck, Stringfield Industries, Valmer Land Title, NeuroRehab, Advanced Billing, Manifest IT, Firouzian Dentistry and Subway. Retail space at the property was fully leased at the time of sale. …

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Honeygrow-Lawrence-Park-Shopping-Center
LeasingNewsPennsylvaniaRestaurants

Federal Signs Leases with Four New Tenants at Shopping Centers in Metro Philadelphia

by Hayden Spiess

Broomall, Pa. and Philadelphia — Federal Realty Investment Trust has signed four new tenants to shopping centers in metro Philadelphia. Dave’s Hot Chicken and Crave Cookies will open at Northeast Shopping Center in Philadelphia, leasing 2,995 and 1,279 square feet, respectively. Additionally, J. Crew Factory and Honeygrow will open locations at Lawrence Park Shopping Center, a retail center located in Broomall, roughly 30 miles outside Philadelphia. J. Crew will open a 4,150 square-foot-store and Honeygrow will occupy 1,999 square feet. All of the tenants are scheduled to open this year.

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Valley-Ridge-Shopping-Center-Wayne-NJ
Company newsConnecticutFloridaNews

Regency Centers Agrees to Acquire Urstadt Biddle Properties in $1.4 Billion Shopping Center REIT Merger

by Hayden Spiess

Greenwich, Conn. and Jacksonville, Fla. — Jacksonville-based REIT Regency Centers (NASDAQ: REG) has agreed to acquire Urstadt Biddle Properties (NYSE: UBA) in an all-stock transaction valued at $1.4 billion. Urstadt Biddle Properties is a REIT based in Greenwich that primarily invests in shopping centers. The combined company will have a market capitalization of approximately $11 billion and total enterprise value of approximately $16 billion. The combined portfolio will comprise 56 million square feet of gross leasable area across 481 properties. Under the terms of the agreement, Urstadt Biddle’s stockholders will …

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Chick-fil-A
CaliforniaInvestment salesNet leaseNewsRestaurants

SRS Brokers Sales Totaling $15 Million of Two Chick-fil-A-Leased Properties in Southern California

by Hayden Spiess

Mission Viejo and Palm Desert, Calif. — SRS Real Estate Partners has brokered the $15 million sale of two single-tenant retail properties in Southern California. Located in Mission Viejo and Palm Desert, the buildings are occupied by Chick-fil-A on triple-net ground leases. Jimmy Slusher, Eric Shain and John Read of CBRE represented the seller of the 4,800-square-foot Mission Viejo property, a local private investor. The Palm Desert property comprises 4,738 square feet situated on 1.6 acres within Monterey Crossing Shopping Center. Timothy Genske of CBRE and Bruce Bailey of The …

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CaliforniaCompany newsIndianaLeasingMinnesotaNewsPennsylvaniaSouth CarolinaWisconsin

Five Below to Open Stores at Seven Simon Properties

by Hayden Spiess

Philadelphia — Five Below is set to open stores at seven Simon-owned properties. Scheduled to open this year, the stores will include locations at Albertville Premium Outlets in Albertville, Minnesota; Pleasant Prairie Premium Outlets in Prairie, Wisconsin; Johnson Creek Premium Outlets in Johnson Creek, Wisconsin; Gaffney Outlet Marketplace in Gaffney, South Carolina; Indiana Premium Outlets in Edinburgh, Indiana; Pismo Beach Premium Outlets in Pismo Beach, California; and Pocono Premium Outlets in Tannersville, Pennsylvania. “Our relationship with Simon is core to continuing our national expansion efforts,” says George Hill, chief retail …

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Investment salesNewsNorth Carolina

Providence Acquires Two Retail Parcels in Charlotte, North Carolina

by Hayden Spiess

Charlotte, N.C. — Providence Group Capital (PGC) has acquired two properties located at 2429 and 2511 South Tryon St. in Charlotte’s South End neighborhood. Totaling roughly 1.3 acres, the properties feature three existing buildings comprising more than 17,500 square feet. Tenants at the buildings include Euro Cars South End, A&T Auto Body Shop and Paws Whiskers & Wags. PGC has purchased 15 properties in the same section of South End over the past 18 months. Hayes Faulkenberry of Land Advisors represented PGC in the acquisition of 2429 South Tryon St. …

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