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Ingka Group to Invest $2.2 Billion in New IKEA Locations, Omnichannel Growth Across US

by Hayden Spiess

Leiden, Netherlands — Ingka Group has announced plans to invest $2.2 billion over the course of the next three years on new IKEA retail locations and omnichannel growth across the United States. The Leiden, Netherlands-based company is the largest owner of IKEA stores globally, representing more than 90 percent of IKEA retail sales with more than 370 stores and 100 home décor planning studios open across 31 countries. The initial phase of investment will include opening eight stores in IKEA’s traditional format and nine “Plan and Order” points, which are …

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WorkShop-Dallas
DevelopmentMixed-useNewsTexas

Triten Real Estate Completes Redevelopment of 216,500-Square-Foot Mixed-Use Property in Dallas

by Hayden Spiess

Dallas —Triten Real Estate Partners has completed the redevelopment of Work/Shop, a mixed-use property in Dallas that features 135,000 square feet of office space and 81,500 square feet of retail, restaurant and entertainment space. Work/Shop also houses 30,000 square feet of open and green space with views of the Prestonwood Country Club. Renovations included updates to retail spaces, and CBRE has been tapped to lease the renovated office space.

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Walgreens-Canal-Winchester-OH
Investment salesNewsOhio

Marcus & Millichap Negotiates $5.4 Million Sale of Walgreens-Occupied Property in Metro Columbus

by Hayden Spiess

Canal Winchester, Ohio — Marcus & Millichap has negotiated the $5.4 million sale of a 14,560-square-foot retail property occupied by Walgreens in Canal Winchester, a southeast suburb of Columbus. Jesse Limon of Marcus & Millichap represented the seller, a limited liability company, and the buyer, an all-cash REIT.

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Rialto-Village-Rialto-Calif
CaliforniaDevelopmentLeasingNews

CBRE, NewMark Merrill Sign Tenants to 96,000-Square-Foot Retail Development Underway in Rialto, California

by Hayden Spiess

Rialto, Calif. — CBRE and NewMark Merrill Cos. have completed the preleasing of Rialto Village, a 96,000-square-foot shopping center currently underway in Rialto. Everytable will occupy the final, 1,400-square-foot space at the development, which the companies broke ground on in August of last year. Other tenants include Mattress Firm, Arrowhead Credit Union, Quick Quack Car Wash, In-N-Out Burger, Cold Stone Creamery, The Joint, Nekter Juice Bar, Coffee Bean & Tea Leaf and West Coast Dental. Brian McDonald, Walter Pagel and Hannah Curran of CBRE and Greg Giacopuzzi of NewMark Merrill …

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EntertainmentNewsTexas

Puttshack Opens 26,000-Square-Foot Entertainment Center in Downtown Houston

by Hayden Spiess

Houston — Puttshack has opened a 26,000-square-foot center at The Highlight at Houston Center, a retail and office complex located in the city’s downtown area. The venue offers four nine-hole minigolf courses, two bars serving craft cocktails and beers, a formal dining area and a private event space that can accommodate more than 100 guests. Brookfield Properties owns The Highlight, which also houses an Immersive Gamebox entertainment center.

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Bolsa-Pacific-at-Westminster-Westminster-Calif
CaliforniaDevelopmentMixed-useNews

Shopoff Plans 26-Acre Redevelopment of Westminster Mall in Southern California

by Hayden Spiess

Westminster, Calif. — Shopoff Realty Investments has announced plans for Bolsa Pacific at Westminster, a 26-acre mixed-use redevelopment of Westminster Mall in Westminster. Upon completion, the property will feature 1,000 apartments and 100 townhomes, a 175-room hotel and 25,000 square feet of retail and restaurant space. Additionally, the development will include 2.5 acres of green space that will host an amphitheater, dog park, pickleball courts and food kiosks. The groundbreaking for the project, which is designed by AO with landscape architecture by MJS, is scheduled for 2025.

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Village-Greens-Shopping-Center-New-York-City
FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $22 Million Refinancing for Shopping Center in New York City

by Hayden Spiess

New York City — Northmarq has arranged $22 million for the refinancing of Village Greens Shopping Center in New York City. Built in 1989, the 75,697-square-foot property is anchored by Key Food Supermarket, CVS/pharmacy and JP Morgan Chase Bank. Robert Delitsky and Dylan Hamer of Northmarq secured the permanent-fixed rate loan through Nationwide Life Insurance Co. on behalf of the borrower.

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Sullivan-Towers_Newnan
GeorgiaInvestment salesNews

CBRE Brokers Sales of Two Retail Centers in Metro Atlanta Totaling $4.4 Million

by Hayden Spiess

Newnan and Ellenwood, Ga. — CBRE has brokered the sales of two retail strip centers totaling approximately $4.4 million. The properties include Sullivan Towers, a 12,950-square-foot property located in Newnan, and Ellenwood Plaza, a 9,450-square-foot property located in Ellenwood. Craig Taylor of CBRE’s Atlanta office represented the sellers, two undisclosed private entities, in each transaction. Local investor James Thomasson purchased Sullivan Towers and United Properties Ventures acquired Ellenwood Plaza. Sullivan Towers was fully leased at the time of sale to tenants including CVS/pharmacy, Carr Eye Care, Touch of India, Kuman …

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Arhaus-Metairie-La
DevelopmentLeasingLouisianaNews

Arhaus to Open 14,000-Square-Foot Showroom in Metro New Orleans

by Hayden Spiess

Metairie, La. — Arhaus will open a 14,000-square-foot showroom at the Feil Organization’s Lakeside Shopping Center, a 1.2 million-square-foot property located roughly eight miles outside New Orleans in Metairie. Scheduled to open later this year, the showroom will be located next to Dillard’s and feature two entrances, one interior and one exterior.

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Post-Oak-Plaza-Houston
LeasingNewsTexas

LEVCOR Signs 4 Tenants to Post Oak Plaza in Houston

by Hayden Spiess

Houston — LEVCOR has signed four new tenants to Post Oak Plaza, a shopping center located in Houston. Restaurants Rakkan Ramen and Tacodeli will occupy 1,856 and 2,833 square feet, respectively. Additionally, Kohler will open a 4,038-square-foot kitchen and bath showroom, and Bassett Furniture will occupy 9,597 square feet. Previously announced tenants scheduled to open this year include Nando’s Peri Peri, Balboa Surf Club and Bosch/Thermador/Gaggenau.

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