Pittsburgh — Pittsburgh-based DICK’S Sporting Goods has completed its $2.4 billion acquisition of Foot Locker. With the merger, DICK’S will now operate more than 3,200 stores across 20 countries, while maintaining Foot Locker’s portfolio of brands including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos. The transaction is expected to generate $100 million to $125 million in cost synergies and become earnings per share accretive in the company’s 2026 fiscal year. Goldman Sachs served as financial advisor to DICK’S for this transaction, and Wachtell, Lipton, Rosen & Katz served as DICK’S …
Davenport, Iowa — Macerich and CBRE have formed a leasing partnership for NorthPark Mall, an 855,000-square-foot regional mall located in Davenport. Riley Hogan of CBRE is the local lead CBRE representative and will oversee marketing and leasing strategies for the property. Dillard’s, JCPenney and Von Maur anchor NorthPark Mall, which features a mix of additional tenants including H&M, Windsor, Dry Goods, Barnes & Noble, Olive Garden, R&C Brazilian Steakhouse, Osaka Sushi Bar and Chick-fil-A.
Duluth, Ga. — The Urban Redevelopment Agency of Gwinnett County has approved the purchase of a former Sears department store at Gwinnett Place Mall, a struggling regional mall situated along Pleasant Hill Road near Interstate 85 in metro Atlanta. Northwood Ravin will sell the 11.5-acre site to the county for $11.5 million, the same price the Charlotte-based multifamily developer paid for the property in 2018. With the Sears acquisition, Gwinnett County now owns a combined 87.5 acres at Gwinnett Place Mall. Plans for the mall redevelopment include a mixed-use destination …
Signal Hill, Calif. — Marcus & Millichap has arranged the $6.2 million sale of the Signal Hill Gateway Center, a four-tenant retail pad located in Signal Hill, just north of Long Beach. Tenants at the property, which was fully leased at the time of sale, include Starbucks Coffee, Dollar Tree, Chipotle Mexican Grill, Milano Nail Lounge and a Bank of America ATM. Built in 2015 on 1.2 acres, the retail pad comprises 6,535 square feet of gross leasable space. Sheila Alimadadian of Marcus & Millichap represented the seller, Khouraki Corp. …
Fullerton, Calif. — Shopoff Realty Investments has sold the last remaining retail parcel at Sunrise Village, a 14-acre neighborhood shopping center located in the Orange County city of Fullerton, for $2.5 million. The recently sold property totals nearly half an acre and houses a veterinary clinic. The unused space at the parcel will be transformed into a fast-casual Korean restaurant. The remaining retail parcels at the property were previously sold to separate owners. The first parcel sale included a 1.4-acre corner retail space, which featured a drive-thru Del Taco and …
Murfreesboro, Tenn. — Avison Young has arranged the $7.8 million sale of a newly constructed property occupied by Trader Joe’s in Murfreesboro, roughly 35 miles southeast of Nashville. The 13,050-square-foot grocery store is situated on 2.3 acres and opened earlier this year. Jordan Powell, Lisa Maki and Mike Jacobs of Avison Young represented the locally based seller, TDK Corp. Trader Joe’s acquired the property by exercising its right of first refusal. Founded in 1967, Monrovia, California-based Trader Joe’s operates 608 stores across 43 states.
Acworth, Ga. — Marcus & Millichap has brokered the $2.7 million sale of a newly built, single-tenant retail property located in Acworth, a northwest suburb of Atlanta. Whataburger occupies the 3,318-square-foot freestanding restaurant, which features a double drive-thru, on a 15-year corporate ground lease. Don McMinn and Andrew Koriwchak of Marcus & Millichap represented the seller, an unnamed developer based in Georgia, in the transaction. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap procured the unnamed buyer. The Whataburger restaurant was delivered in April and is adjacent to …
Nolensville, Tenn. — Five new tenants have signed leases to join Village Green, a 90,473-square-foot shopping center under development in Nolensville, a suburb of Nashville. Chase Bank will debut at the property, along with Tropical Smoothie Café, Floyd’s 99 Barbershop, Great Clips and Mountain Mike’s Pizza. Village Green will open this October. The new tenants will accompany a mix of additional retailers and restaurants who have already committed to the project including Chipotle, First Watch, Hand & Stone Massage and Facial Spa, Club Pilates, Heartland Dental, Jersey Mike’s, Abbott’s Frozen …
Mobile, Ala. — Mobile-based Burton Property Group and Peaceable Street Capital have closed the $123 million recapitalization of a four-property shopping center portfolio in Alabama. The properties include Riviera Square and Foley Square in Foley, Jubilee Square in Daphne and Westwood Plaza in Mobile. The 785,000-square-foot portfolio was 98 percent leased at the time of the recapitalization, details of which were not disclosed. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL arranged the financing on behalf of Burton Property Group, which will use its newfound capital flexibility on its …
Vancouver, Wash. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a 227,680-square-foot retail center in Vancouver. Situated on 28 acres across 11 buildings, Hazel Dell is anchored by Safeway. Other tenants at the center include Ross, Marshalls, Parkrose Hardware, Sola Salons, Killer Burger and Sally Beauty. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s correspondent …