Niagara Falls, N.Y. — JRW Realty has brokered the acquisition of a 102,062-square-foot single-tenant supermarket property located in Niagara Falls. Tops occupies the building on a net-lease basis. Melinda Marston of JRW represented the undisclosed buyer in the transaction. Chris Bosworth of CBRE represented the undisclosed seller.
San Diego — Fruit juice concept Sip Fresh has entered a three-unit franchise agreement with operator Kevin Tam for locations in metro San Diego. The deal includes the acquisition of an existing store located in the Westfield UTC Mall and plans for two additional locations in the area. Tam’s previous experience includes concepts Wetzel’s Pretzels and Sweetgreen, as well as other quick service restaurant brands and food trucks. Sip Fresh plans to sign 35 new franchise agreements by the end of the year.
Sandy Springs, Ga. — A partnership between CONNOLLY and Coro Realty has announced plans to reposition the retail portion of a 120,000-square-foot mixed-use development located in Sandy Springs, roughly 16 miles north of Atlanta. The partnership acquired the property in February 2022 for $40.5 million. Formerly known as Sandy Springs Gateway, the development will undergo capital improvements and be known as Chastain Market going forward. Improvements will include infrastructure improvements, increased connectivity among common areas and upgraded landscaping. New tenants will also join the property, with chef Kevin Maxey opening a …
Indian Land, S.C. — JLL Capital Markets has arranged the sale of Promenade at Carolina Reserve, a 221,054-square-foot shopping center located in Indian Land, roughly 20 miles south of Charlotte. TJ Maxx, Burlington, Ross Dress for Less, HomeGoods, Ulta Beauty, Petco and Dollar Tree anchor the property, which was fully leased at the time of sale. Built in 2018, the center is shadow anchored by ALDI. Jim Hamilton, Brad Buchanan, Tom Kolarczyk and Andrew Kahn of JLL represented the seller, Bandera Ventures, in the transaction. Rikky Goswami of Insight Property Group …
Atlantic City, N.J. — Tower Investments has developed ISLAND Waterpark, a 120,000-square-foot waterpark located at The Showboat Resort in Atlantic City. Scheduled to open June 30, the property features 11 slides, a surf simulator, man-made waterfall, rollercoaster, zipline course, treehouse, water sports pool, play area for children and a lazy river. Additionally, the waterpark includes six bars and a 10,000-square-foot adults-only space.
Brea, Calif. — Wood Investments Cos. has signed UFC GYM to open within a 30,000-square-foot retail property formerly occupied by Tower Records in Brea, roughly 30 miles southeast of Los Angeles. Scheduled to open in the third quarter of this year, UFC GYM will fully occupy the two-story, single-tenant building. Jim Manarino and Tracey Zimmerman of Manarino & Associates represented Wood Investments in the leasing negotiation.
New York City — Automaker Rivian has opened a 5,000-square-foot store in New York City’s Meatpacking district, marking the most recent location for its “Spaces” lineup, a collection of temporary and permanent experiential retail centers. Featuring a floor-to-ceiling glass storefront, the space will showcase the company’s flagship vehicles and offer product education and community programming. Rivian plans to introduce more Spaces stores throughout this year and 2024, with upcoming locations including Brooklyn, New York; Laguna Beach, California; and a 10,000-square-foot site in Austin, Texas.
Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $15.8 million sale of Ash Tree Square, a retail center located in Fresno. Tenants at the property, which totals 80,877 square feet situated on 7.5 acres, include Ross Dress for Less, Starbucks Coffee, Wing Stop and Mountain Mike’s Pizza. Alexander Moore, Sean Cox and Kevin Fryman of Hanley represented the private, California-based seller in the transaction. A California-based private investor acquired the property.
Atlanta — Hospitality group 200 Peachtree is underway on the development of two restaurants located at 200 Peachtree Street in downtown Atlanta. SKOL Brewing Co., a craft brewery, will comprise 5,000 square feet and is expected to open later this year. Food, beverage and entertainment hall Valhalla Social is scheduled to open in spring or summer 2024 and will total 15,000 square feet, with seating for roughly 300 people. CNNA Architects is the architect for both projects.
Salem, Ohio — The Cooper Commercial Investment Group has arranged the $2 million sale of Salem Market Place in Salem, a city in Northeast Ohio. Tenants at the 16,252-square-foot property include Super Cuts, Sally Beauty Supply, GameStop, Little Caesar’s, Gadget Lab, Alternative Smokes, Hibachi Express and Drayer Physical Therapy. Dan Cooper and Bob Havasi of Cooper Group represented the seller, a West Coast-based investor. The center was 83 percent occupied at the time of sale.
