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Centennial Yards
GeorgiaNews

Ambitious Mixed-Use Projects are Adding New Retail Density Around Atlanta

by Julia Sanders

Atlanta — Atlanta is a city that is always evolving. Even prior to the pandemic, rapid change seemed to be the one constant thing about the market. This continues to be true today; from downtown to the furthest suburban reaches, Atlanta’s retail landscape is vibrant with new brands and ambitious projects. One of the most notable areas of growth in greater Atlanta is the expansion of single-tenant operators, especially quick-service restaurants. New national players such as Whataburger and Raising Cane’s are entering the metro Atlanta market, as other popular chains …

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Investment salesMichiganNews

Cohn Commercial Properties Brokers Sale of Former Kroger Store in St. Clair Shores, Michigan

by Julia Sanders

St. Clair Shores, Mich. — Cohn Commercial Properties has brokered the sale of a former Kroger store in St. Clair Shores, about 13 miles northeast of Detroit. The 51,021-square-foot building is located at 22332 East 9 Mile Road. Harry Cohn of Cohn Commercial, along with CBRE, represented the seller, The Kroger Co. The buyer was St. Clair Retail Management LLC.

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FinanceNew YorkNews

Houlihan-Parnes Receives $3.3 Million Loan for Refinancing of Manhattan Retail Property

by Julia Sanders

New York City — Houlihan-Parnes Realtors LLC has received a $3.3 million loan for the refinancing of a 10,000-square-foot retail property in the Inwood area of Manhattan. A local bank provided the loan, which was structured with a fixed interest rate of 3.5 percent for the first 24 months of the five-year term and the option to extend the loan for an additional five years. Houlihan-Parnes owns the property in partnership with ISJ Management.

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7 Eleven
Investment salesNewsTexas

RealSource Arranges Sale of 4,842-Square-Foot 7-Eleven in Houston

by Julia Sanders

Houston, Texas — RealSource Group has arranged the off-market disposition of a 4,842-square-foot retail property occupied by 7-Eleven, Laredo Taco Co. and a fuel station in Houston. The sales price was not disclosed. Austin Blodgett of RealSource, in association with ParaSell Inc., represented the seller, a private developer based in Houston. Chuck Klein with Cushman & Wakefield represented the buyer, a private investor based in Southern California. 7-Eleven opened at the property in June and occupies the building under a 15-year triple-net lease.

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NewsWashington DC

NRF Revises US Retail Sales 2021 Forecast Upward Based on Encouraging Economic Factors

by Julia Sanders

Washington, D.C. — The National Retail Federation (NRF) predicts U.S. retail sales in 2021 will increase between 10.5 to 13.5 percent over last year to a range of $4.44 trillion and $4.56 trillion. These predictions are higher than the initial 2021 forecast the organization made in February that was between 6.5 percent and 8.2 percent growth and a total between $4.33 trillion and $4.4 trillion. In the beginning of 2021, the economy was looking more positive for the retail industry, but there were still pandemic restrictions and limitations on businesses. …

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Company newsIllinoisNews

Walgreens Reports Uptick in Sales, Plans to Make Technology Investments

by Julia Sanders

Deerfield, Ill. — Walgreens Boots Alliance Inc. (NASDAQ: WBA), the company behind pharmacy retailers Walgreens and Duane Reade, predicts a 10 percent increase in adjusted earnings per share this fiscal year. The Deerfield, Illinois-based firm’s new CEO, Roz Brewer, says she plans to make investments in the coming months, including digital automation and technology efforts. Additionally, Walgreens and VillageMD have agreed to open hundreds of doctor offices in drugstores, which will span around 3,300 square feet each. VillageMD says it will find staff members and operate these clinics, and over …

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Landing at Woodyard
FinanceMarylandNews

JLL Secures $44.5 Million Loan for Landing at Woodyard in Metro D.C.

by Julia Sanders

Clinton, Md. — JLL Capital Markets has secured a $44.5 million loan for The Landing at Woodyard, a newly redeveloped, 210,000-square-foot shopping center located in the Washington, D.C. suburb of Clinton. JLL worked on behalf of the borrower, Meritus Realty Ventures, to place the 10-year, fixed-rate CMBS loan with Morgan Stanley Real Estate. Loan proceeds were used to repay the existing bridge loan and fund remaining improvements for the tenants that recently signed new leases. Meritus has owned Landing at Woodyard since 2016. The center is 95 percent leased with …

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St. Johns Town Center
FloridaInvestment salesNews

JLL Arranges Sale of 113,139-Square-Foot Shopping Center in Jacksonville

by Julia Sanders

Jacksonville, Fla. — JLL Capital Markets has arranged the sale of St. John’s Town Center North, a 113,139-square-foot shopping center in Jacksonville. Danny Finkle and Eric Williams of JLL represented the seller, American Realty Advisors LLC. An affiliate of Core Investment Management acquired the property for an undisclosed price. St. John’s Town Center North is situated on 14.2 acres at 4413-4507 Town Center Parkway North adjacent to St. John’s Town Center. Constructed between 2006 and 2007, St. John’s Town Center North is fully leased and is anchored by Publix and …

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CaliforniaNew JerseyNews

Pinstripes to Open Two New Locations at URW Centers

by Julia Sanders

Paramus, N.J. and Los Angeles — Pinstripes Inc. will open two new locations at Westfield Garden State Plaza in Paramus and Westfield Topanga in the Los Angeles area. Both centers are owned by Unibail-Rodamco-Westfield. Pinstripes is a bocce and bowling entertainment facility that also features fine dining and a full bar. The concept will open at Westfield Garden State Plaza in late 2022, offering made-from-scratch dining and gaming. Pinstripes will join the center’s dining and entertainment line-up, which includes Arena Stem, a retail entertainment concept; AMC theater; and restaurants including …

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Investment salesNewsTexas

RealSource Brokers Sale of 7-Eleven in DFW Metroplex

by Julia Sanders

Arlington, Texas — RealSource Group has brokered the sale of a 3,010-square-foot single-tenant retail property in Arlington that is triple-net leased to 7-Eleven. Austin Blodgett of RealSource, along with ParaSell Inc., represented the seller, a private developer based in Houston. Jeremy McChesney of Hanley Investment Group represented the buyer, a 1031 exchange investor based in Southern California. The asset traded at a cap rate of 4.7 percent. The 7-Eleven store, which includes a fuel station, opened on June 10 to mark the beginning of a new 15-year lease.

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