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DevelopmentNew YorkNews

Macy’s Proposes Overhaul of Herald Square Store in Manhattan, Including New Office Tower

by Julia Sanders

New York City — Macy’s Inc. (NYSE: M) has unveiled plans to overhaul its flagship Herald Square store at the corner of 34th Street and Seventh Avenue in Midtown Manhattan. The plan would add a commercial office tower atop the store. The size and design features of the office component were not disclosed. The plan includes a private investment totaling $235 million by Macy’s that would modernize the public spaces around the flagship store, including upgraded subway access, improved transit connections and pedestrian-friendly and car-free streetscapes at Broadway Plaza and …

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Alpharetta Commons
GeorgiaGrocery-anchoredInvestment salesNews

Hanley Investment Group Arranges $24.6 Million Sale of Publix-Anchored Shopping Center in Metro Atlanta

by Julia Sanders

Alpharetta, Ga. — Hanley Investment Group Real Estate Advisors has arranged the $24.6 million sale of Alpharetta Commons, a 94,500-square-foot shopping center located in the Atlanta suburb of Alpharetta. Publix anchors the property, which is 98.7 percent occupied by tenants including Sports Clips, T-Mobile, a nail salon, dry cleaners, a liquor store and food and beverage outlets. Ed Hanley and Kevin Fryman of Hanley Investment Group, along with ParaSell Inc., represented the 1031 exchange buyer, a private investor based in Southern California. Chris Decouflé, Kevin Hurley and Matt Karempelis of …

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Cherokee Commons
GeorgiaInvestment salesNews

SRS Brokers $11.4 Million Sale of Cherokee Commons Shopping Center in Suburban Atlanta

by Julia Sanders

Acworth, Ga. — SRS’ Investment Properties Group has brokered the $11.4 million sale of Cherokee Commons Shopping Center, a 103,719-square-foot property located 33 miles outside Atlanta in Acworth. Built in 1986, the center is currently 91 percent occupied by tenants including Kroger, Pet Supplies Plus and Cosmo Prof. Kyle Stonis and Pierce Mayson of SRS represented the seller, Collett Capital, in the disposition of the property to Bandera Ventures. The buyer was self-represented in the transaction.

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Investment salesLouisianaNews

Beau Box Commercial Real Estate Sells Former Target Store in Slidell, Louisiana for $2 Million

by Julia Sanders

Slidell, La. — Beau Box Commercial Real Estate has sold a former Target store location near Interstate 12 and Airport Road in Slidell to an undisclosed buyer. The property sold for $2 million and features a 125,000-square-foot retail building on a 12-acre parcel of land. Target closed their Slidell location in February of 2018.

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District 121
DevelopmentNewsTexas

Craig International Unveils Plans for $250 Million District 121 Mixed-Use Project in McKinney, Texas

by Julia Sanders

McKinney, Texas — Developer Craig International has unveiled plans for District 121, a $250 million mixed-use project that will be located on 17.5 acres next to the Craig Ranch master-planned community in McKinney. Phase I of the project consists of a 200,000-square-foot office building by Kaizen Development that is currently under construction, as well as 40,000 square feet of retail and restaurant space, an 800-space parking garage and green space known as The Commons. District 121 will eventually include 520,000 square feet of office space and a hotel. SHOP Cos. …

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Magnolia Tyler Center
CaliforniaInvestment salesNews

Merlone Geier Partners Acquires Value-Add Shopping Center in Inland Empire for $39.4 Million

by Julia Sanders

Riverside, Calif. — Merlone Geier Partners has purchased Magnolia Tyler Center, a value-add shopping center located at 3650-3790 Tyler St. in the Inland Empire community of Riverside. A private family, which owned the property for more than 50 years, sold the center for $39.4 million. At the time of sale, the 182,653-square-foot property was 83 percent leased. Tenants include Aldi, Bob’s Discount Furniture, Big Lots, Bed Bath & Beyond, Starbucks Coffee, Olive Garden and America’s Tire. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the seller in …

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Delray Beach Market
DevelopmentFloridaNews

Menin to Open 150,000-Square-Foot Delray Beach Market in Delray Beach, Florida

by Julia Sanders

Delray Beach, Fla. — Menin is set to open Delray Beach Market, a 150,000-square-foot food hall and retail center located in Delray Beach. The property will feature over 25 local and regional eateries, a rotating roster of pop-up vendors, bars, outdoor seating and a show kitchen. Delray Beach Market will also offer dining and creative food incubators, a beverage program, food trucks, art exhibitions and programming including live music shows, culinary classes and curated events. Restaurants on the ground floor will include Sorella’s, an artisanal pasta house by chef Jimmy …

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Investment salesNewsTexas

Big V Property Group Acquires 1-Million-Square-Foot RIM Shopping Center in San Antonio

by Julia Sanders

San Antonio — Big V Property Group has acquired The RIM Shopping Center, a 1 million-square-foot retail and restaurant destination in San Antonio. Big V acquired the property, which is part of a larger mixed-use development, in partnership with New York-based Kimco Realty and San Diego-based Equity Street Capital. The seller and sales price were not disclosed. Big V will also manage the property.

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LeasingNewsPennsylvania

ShopRite to Open 73,000-Square-Foot Grocery Store in Matamoras, Pennsylvania

by Julia Sanders

Matamoras, Pa. — ShopRite will open a 73,000-square-foot grocery store within the former Kmart building at Westfall Town Center in Matamoras, located along the New Jersey-Pennsylvania border. The opening is scheduled for this fall. Metro Chicago-based CenterPoint Properties owns Westfall Town Center. Derek Zerfass and Scott Horner of Colliers International brokered the deal. An undisclosed user is also set to occupy 25,000 square feet within the former Kmart store beginning this fall.

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Investment salesNew HampshireNews

JLL Negotiates $11.5 Million Sale of Retail Building in Franklin, New Hampshire

by Julia Sanders

Franklin, N.H. — JLL has negotiated the $11.5 million sale of a 51,230-square-foot retail building leased to Hannaford Supermarket in Franklin, located north of Manchester. The grocer has occupied the 11.5-acre property, which has the capacity to support 13,000 square feet of new development, for 30 years and recently extended its lease. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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