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foot-locker
Company newsNew YorkNews

Foot Locker to Close More Than 400 Stores

by Hayden Spiess

New York City — Foot Locker will close more than 400 underperforming stores as part of its “Lace Up” plan, announced during the company’s 2023 Investor Day call. According to Tony Aversa, senior vice president of global store development, the move is part of a strategy to manage portfolio risk by way of strategic closures. The company currently operates 2,700 locations, which will be reduced to approximately 2,400 by 2026, a number which also reflects the planned addition of stores in new formats. Despite the closures, Foot Locker intends to …

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Bass-Pro-Shops-Niles-Ohio
DevelopmentLeasingNewsOhio

Bass Pro Shops to Open 63,000-Square-Foot Store in Niles, Ohio

by Hayden Spiess

Niles, Ohio — Bass Pro Shops will open a 63,000-square-foot Bass Pro Shops Outpost store in Niles, marking the seventh location in the state for the brand. Scheduled to open at Howland Commons within the Eastwood Mall complex in the second half of this year, the store will feature a custom design with localized nature imagery. Cafaro Co. is the landlord at the property.

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Dutch-Bros-Coffee
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $2.3 Million Sale of Single-Tenant Retail Property in Southern California

by Hayden Spiess

Fontana, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2.3 million sale of a single-tenant retail property located in Fontana. Dutch Bros Coffee occupies the newly constructed 871-square-foot property, which is situated within Highland Village Shopping Center, on a triple-net-lease basis. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments, in the transaction. Jeremy McChesney of Hanley represented the buyer, a private investor.

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Investment salesNet leaseNewsWisconsin

Marcus & Millichap Brokers $1.1 Million Sale-Leaseback of Jimmy John’s-Occupied Property in Wisconsin

by Hayden Spiess

Sturgeon Bay, Wis. — Marcus & Millichap has arranged the $1.1 million sale-leaseback of a 1,650-square-foot property in Sturgeon Bay, a city in eastern Wisconsin. The single-tenant building is occupied by Jimmy John’s on a net-lease basis. Originally built in 1995, the property was reconfigured for Jimmy John’s in 2017. Damien Yoder and Madison Harman of Marcus & Millichap represented the seller, a private investor. Tom Gommels of Marcus & Millichap secured and represented the buyer, also a private investor. Todd Lindblom assisted in closing the transaction as the Wisconsin …

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LeasingNewsRestaurantsWashington

Seven Tenants Sign Leases at Vancouver Mall in Metro Portland

by Hayden Spiess

Vancouver, Wash. — Seven new tenants have signed leases at Vancouver Mall, a shopping center located in Vancouver, roughly 10 miles north of Portland. Twisted Escape Rooms, Paliy Construction, Mariya’s Touch Boutique and Luxury African Braids have already opened spaces at the property. Lo’u Sei e and Quick Bites Deli Shop will open in April of this year, with Smack Town scheduled to join the tenant lineup in May.

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Whole-Foods-Greenville-S.C
DevelopmentGrocery-anchoredLeasingMixed-useNewsSouth Carolina

Whole Foods to Anchor $1 Billion Mixed-Use Development in Downtown Greenville, South Carolina

by Hayden Spiess

Greenville, S.C. — Whole Foods Market has signed on to anchor Greenville County Square, a $1 billion mixed-use redevelopment project in downtown Greenville. RocaPoint Partners is the developer behind the 3.5 million-square-foot live-work-play destination, which will modernize and activate 40 acres along University Ridge. Whole Foods Market will occupy a standalone building designed by MVA Architects. Whole Foods is the first tenant announced, and RocaPoint is currently pursuing other credit-worthy retailers and restaurants to join the development. “Whole Foods Market will add to the development’s lively charm and represents the …

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First National Realty Partners LLC
Grocery-anchoredInvestment salesMarylandNews

First National Acquires 359,484-Square-Foot Shopping Center in Metro Washington, D.C.

by Hayden Spiess

Waldorf, Md. — First National Realty Partners has acquired Waldorf Marketplace, a 359,484-square-foot shopping center located in Waldorf, approximately 30 miles outside Washington, D.C. A 58,092-square-foot Safeway anchors the property, which is also home to tenants including Hobby Lobby, Jared, Petco, Starbucks Coffee, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave’s. The purchase marks First National Realty Partners’ fourth retail center acquisition within the DMV-metropolitan area.

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Fulton-Market-Chicago
IllinoisLeasingMixed-useNews

L3 Capital Adds Two Tenants to Mixed-Use Development in Chicago’s Fulton Market Neighborhood

by Hayden Spiess

Chicago — L3 Capital has added two new tenants to its mixed-use development in the Fulton Market neighborhood of Chicago. Ever/Body and Brilliant Earth will join the retail lineup, marking six tenant openings since September of last year. L3 completed construction on the 35,000-square-foot project, a redevelopment of a former bank and parking lot which is now fully leased, in January 2022. Other tenants include Mejuri, Brooklinen, Puttery and Lululemon.

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Jeff-Enck-SRS
Company newsGeorgiaNews

Jeff Enck Joins SRS Real Estate Partners as Senior Vice President

by Hayden Spiess

Atlanta — Jeff Enck has joined SRS Real Estate Partners as senior vice president of the company’s investment properties group. Enck, who brings more than two decades of experience, will lead the establishment of a new service line focused on unanchored shopping centers throughout the Southeast. Kyle Stonis and Pierce Mayson lead the investment properties team in Atlanta. “I’m very excited to be joining a team and firm that are among the very best in retail investment sales,” says Enck. “Combining my unanchored business with the institutional and net leased …

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