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DelawareInvestment salesNews

Neuman Commercial Arranges $33.5 Million Sale of Newark Shopping Center in Metro Philadelphia

by Katie Sloan

Newark, Del. — Atlantic Realty Cos., represented by Gil Neuman of Neuman Commercial Group, has sold Newark Shopping Center for $33.5 million. The 145,400-square-foot retail center is located in Newark, Delaware, roughly 45 miles southwest of Philadelphia. The property was 93 percent leased at the time of sale to tenants including Newark Natural Foods, Main Street Movies 5, PNC Bank, Wingstop, Capriotti’s, Dollar Tree, Orangetheory Fitness, Goodwill, Fresenius Medical Care, Enterprise Rent-A-Car, T-Mobile, Rita’s Italian Ice, Tropical Smoothie Cafe and Chase Bank.

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Conyers-Commons_Atlanta
GeorgiaInvestment salesNews

M Street, Highline Purchase Conyers Commons Shopping Center in Metro Atlanta for $17 Million

by Katie Sloan

Conyers, Ga. — A joint venture between M Street Holdings and Highline Real Estate Capital has acquired Conyers Commons, a 118,916-square-foot shopping center in the Atlanta suburb of Conyers. The undisclosed seller sold the property for approximately $17 million. Chris DeCoufle, Kevin Hurley and Matt Karempelis of CBRE brokered the transaction on behalf of the seller, and BankUnited provided acquisition financing for M Street and Highline. Conyers Commons represents the joint venture’s second transaction in the Atlanta market this year. Anchored by Ross Dress for Less and Bealls Outlet, Conyers …

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Circle-Centre-Mall
IndianaLeasingNews

COhatch, North High Brewing Open at Circle Centre Mall in Indianapolis

by Katie Sloan

Indianapolis — COhatch and North High Brewing have opened at Circle Centre Mall in Indianapolis. COhatch offers co-working spaces, private offices and meeting and event space. North High Brewing features a selection of craft beers as well as a food menu. This is the second location for the brewery in the Indianapolis market. JLL manages and leases Circle Centre, which spans more than 700,000 square feet.

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Promenade-at-Downey
CaliforniaLeasingNews

Promenade at Downey Adds Seven New Tenants in Metro Los Angeles

by Katie Sloan

Downey, Calif. — Seven new businesses are joining the tenant roster at Promenade at Downey, a 656,000-square-foot retail center in Downey, located roughly 13 miles outside of Los Angeles. Guacamaya Oasis, Xécora Gastronomía Urbana and Zen Med Spa have already opened, with Fire Wings, Handel’s Homemade Ice Cream, Crumbl Cookies and Daiso set to open in fall of this year. 

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High-5-Entertainment-Allen-Texas
DevelopmentNewsTexas

High 5 Entertainment to Open 70,000-Square-Foot Venue at Mixed-Use Development in Suburban Dallas

by Katie Sloan

Allen, Texas — High 5 Entertainment, an Austin-based concept, will open an 70,000-square-foot venue at The Farm in Allen, a 135-acre mixed-use development located on the northeastern outskirts of Dallas. In addition to craft food and beverages, the entertainment center will feature bowling, laser tag, axe throwing, escape rooms, minigolf and private event spaces. The main facility will span 45,000 square feet, with the outdoor minigolf course accounting for the remaining 25,000 square feet. The opening is slated for fall 2023. JaRyCo is the master developer of The Farm in Allen.

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LeasingNew JerseyNews

Marshalls Opens 50,000-Square-Foot Store in Totowa, New Jersey

by Katie Sloan

Totowa, N.J. — Marshalls has opened a 50,000-square-foot store at Totowa Square, a 258,000-square-foot retail power center in Northern New Jersey. The discount retailer is backfilling a space formerly occupied by Toys ‘R’ Us. Brian Katz and Amy Staats of Katz & Associates represented the landlord in the lease negotiations. Jerry Welkis of Welco Realty represented the tenant. The center is now 97 percent leased.

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Westbend-Fort-Worth
LeasingNewsTexas

Trademark Welcomes New Retailers, Restaurants to WestBend in Fort Worth

by Katie Sloan

Fort Worth, Texas — Trademark Property Co. has welcomed seven new tenants to WestBend, the locally based developer’s mixed-use destination in Fort Worth. Four food and beverage concepts — fast casual eatery Sweetgreen, confectionary Van Leeuwen, burger chain Shake Shack and global culinary experience Quince — are scheduled to open before the end of the year. The Shade Store, a concept that specializes in window shades and blinds, will also debut in the fourth quarter. In addition, ear piercing salon Rowan and Karl’s Fishing & Outdoors are now open. The seven new …

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Southplace-City-Center_Miami
DevelopmentFloridaNews

Electra America, BH Group Unveil Plans for $1 Billion Redevelopment of Southland Mall Site in Miami Metro

by Hayden Spiess

Cutler Bay, Fla. — A few months after purchasing the former Southland Mall site in Cutler Bay for $100.4 million, owners Electra America (and affiliate American Landmark) and BH Group have unveiled plans for their $1 billion redevelopment of the 80-acre campus in Cutler Bay, approximately 30 miles south of Miami. Named Southplace City Center, the mixed-use development will feature 4,395 residential units and over 500,000 square feet of retail space, with dining and entertaining venues at the existing mall and an additional 150,000 square feet of new retail space and outparcels …

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airport-square-teaser
Investment salesNewsPennsylvania

JLL Capital Markets Arranges Sale of 298,719-Square-Foot Retail Center in Metro Philadelphia

by Hayden Spiess

Montgomeryville, Pa. — JLL Capital Markets has arranged the sale of Airport Square, a 298,719-square-foot retail center located in Montgomeryville, roughly 25 miles north of Philadelphia. Airport Square was 98 percent leased at the time of sale and is anchored by TJ Maxx, Marshalls, Best Buy, Home Goods, HomeSense and Golf Galaxy. Other tenants include Old Navy, Michaels, Chipotle Mexican Grill and Shake Shack. Jim Galbally, Christopher Munley, Colin Behr and James Graf of JLL represented the seller, a global investment advisor, in the disposition of the property to a …

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