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Company newsNewsWashington

Nordstrom Family, Liverpool to Take Namesake Department Store Chain Private in $6.25 Billion Deal

by Hayden Spiess

Seattle — Nordstrom Inc. (NYSE: JWN) has signed a definitive agreement with the Nordstrom family and Mexican omnichannel retailer El Puerto de Liverpool SAB de CV (Liverpool) in a deal that will take the fashion department store giant private. The all-cash transaction is valued at $6.25 billion. Erik, Pete and Jamie Nordstrom, along with other members of the Nordstrom family, and Liverpool plan to acquire all the outstanding common shares of Nordstrom that they do not already beneficially own. The deal would give the Nordstrom family a majority ownership stake (50.1 …

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CaliforniaInvestment salesNews

Cohen & Steers, Sterling Acquire 231,700-Square-Foot Retail Center in San Mateo, California

by Hayden Spiess

San Mateo, Calif. — Cohen & Steers Income Opportunities REIT (CNSREIT) and Sterling Organization have acquired Bridgepointe Shopping Center, a 231,700-square-foot retail center in San Mateo. Tenants at the property, which was fully leased at the time of sale, include Total Wine & More, Nordstrom Rack, Ross Dress for Less and Marshalls. This marks the third joint-venture acquisition for CNSREIT and Sterling. 

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DevelopmentMixed-useNewsTexas

Presidium to Break Ground on Next Phase of 314-Acre Mixed-Use Project in Austin, Texas

by Hayden Spiess

Austin, Texas — Presidium will break ground on the next phase of The Row, a 314-acre mixed-use project in Austin. Featuring a 6,250-square-foot freestanding restaurant site and 22,000 square feet of additional retail space, this phase will be developed in partnership with PentaGrowth Capital and a subsidiary of Biolink Capital. The project team will include architect Chioco Design, landscape architect Blacksmith Collaborative and civil engineer KFM Engineering & Design, as well as LandDesign, Leap!, Bay MEP, HWA Parking and O’Brien Architects. Asterisk Design will oversee renaming and rebranding for the development, …

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DevelopmentFloridaLeasingMixed-useNews

Three New Tenants Sign Leases at Nora District in West Palm Beach, Florida

by Hayden Spiess

West Palm Beach, Fla. — Three new tenants have signed leases at The Nora District, a mixed-use project currently underway in West Palm Beach. IGK Salon, Indaco and ZenHippo will occupy 2,347; 2,945; and 1,369 square feet at the property, respectively. The first phase of Nora District — which is being developed by a partnership between NDT Development, Place Projects and Wheelock Street Capital — is scheduled for completion in early 2025. Upon completion, Phase 1 will feature 150,000 square feet of retail, office and hospitality space. Other retail tenants at …

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Company newsFinanceNew JerseyNewsTexas

Retailer Bankruptcy Update: Party City to Close All Stores, The Container Store Files for Chapter 11

by Hayden Spiess

Woodcliff Lake, N.J. and Coppell, Texas — In a one-two punch of holiday retail bankruptcy announcements, Party City has issued a formal statement declaring that it will close all its U.S. stores within the coming months, and The Container Store has formally filed for Chapter 11 bankruptcy protection. CNN first reported on Friday, Dec. 20, that Party City, which filed for Chapter 11 bankruptcy protection in January 2023 to restructure its debt, will now be liquidating. The New Jersey-based entertainment accessories retailer, which does business as Party City Holdco Inc., said over the weekend …

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ArizonaFinanceFloridaIllinoisNewsOhioOregon

Pine Tree Secures $247 Million Loan for Shopping Center Portfolio

by Hayden Spiess

Oak Brook, III. —  Pine Tree has received a $247 million loan from New York Life Real Estate Investors for portfolio of six shopping centers located in Florida, Arizona, Oregon and Ohio. Pine Tree acquired the properties earlier this year in partnership with an undisclosed state pension fund for $495 million. The centers include The Fountains in Plantation, Florida (430,000 square feet); Arrowhead Crossing in Phoenix (362,000 square feet); Easton Market (501,000 square feet) and Polaris Towne Center (459,000 square feet) in Columbus, Ohio; Kenwood Square in Cincinnati (424,000 square feet); and Tanasbourne Town Center in Hillsboro, Oregon (300,000 square feet). Tenants at the centers, which were 95 percent leased at the time of financing, include Nordstrom Rack, Ulta Beauty, Target, Dick’s Sporting …

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FloridaInvestment salesNews

Colliers Brokers Sale of 125,538-Square-Foot Shopping Center Near Orlando

by Hayden Spiess

Casselberry, Fla. — Colliers has brokered the sale of Casselberry Exchange, a 125,538-square-foot shopping center located in the Orlando suburb of Casselberry. Funds managed by affiliates of Apollo sold the property to RD Management. According to the Orlando Business Journal, the sales price was $13 million. Tenants at the center, which is situated on 15.7 acres, include Starbucks Coffee, Einstein Bros. Bagels, Fresenius Kidney Care, Amscot and Little Caesars Pizza. The property also features three vacant spaces totaling 83,497-square-feet, as well as a gas station outparcel formerly occupied by 7-Eleven. Brad Peterson …

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FloridaInvestment salesNews

IPA Arranges $30 Million Sale of Shopping Center Near Tampa, Florida

by Hayden Spiess

Wesley Chapel, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $30 million sale of Village Market at Wesley Chapel, a 98,547-square-foot shopping center located in Wesley Chapel, a suburb of Tampa. The property — which comprises five freestanding, net-leased buildings — was fully occupied at the time of sale. Kirk Olsen and Drew Kristol represented the seller, Wesley Chapel SC Co. Ltd., and procured the buyer, an affiliate of JBL Asset Management, in the transaction. A 30,537-square-foot Crunch Fitness anchors the center, which was …

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LeasingNew HampshireNews

Nordstrom Rack to Open 30,000-Square-Foot Store in Nashua, New Hampshire

by Hayden Spiess

Nashua, N.H. —Fashion retailer Nordstrom Inc. has announced plans to open a new, 30,000-square-foot Nordstrom Rack store in Nashua, New Hampshire. Scheduled to open in spring 2025, the store will be situated within Royal Ridge Center. Other tenants at the property include Marshalls, Sierra Trading Post, HomeGoods, PetSmart and The Paper Store. Wilder leases and manages the center. 

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Portfolio_Central-Ohio
Investment salesNewsOhio

IPA Brokers $76 Million Sale of Shopping Center Portfolio in Central Ohio

by Hayden Spiess

Dublin and Reynoldsburg, Ohio — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $76 million sale of a shopping center portfolio located in central Ohio. The portfolio includes Tuttle Crossing in Dublin and Taylor Square in Reynoldsburg. Walmart anchors both properties. Other tenants at Tuttle Crossing, which totals 226,718 square feet, include Best Buy, Morris Home Furniture, Ross Dress for Less, Golf Galaxy and Cost Plus. Taylor Square totals 395,074 square feet and was 99 percent leased at the time of sale. Tenants at the property …

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