News

Regal Cinemas to Temporarily Suspend All U.S. Theater Operations Beginning Oct. 8

by Alex Tostado October 6, 2020

Knoxville, Tenn. — Regal Cinemas will temporarily suspend operations at all of its 536 U.S. theaters beginning Thursday, Oct. 8. British owner-operator Cineworld owns Knoxville, Tennessee-based Regal Cinemas, which has about 7,000 screens across its U.S. portfolio of theaters. Cineworld also announced plans to close all of its theaters in the United Kingdom this week. The closures will impact about 40,000 employees, according to Cineworld. “This is not a decision we made lightly, and we did everything in our power to support a safe and sustainable reopening in the United …

October 6, 2020

Company news Development News Pennsylvania Retailers Vermont

Heidenberg Properties Group Redevelops Two Retail Properties in Pennsylvania, Vermont

by Alex Tostado October 5, 2020

Hummelstown, Pa. and Berlin Vt. — Heidenberg Properties Group is redeveloping two retail properties in the midst of the coronavirus pandemic. The Closter, New Jersey-based owner and developer is working to redevelop Hershey Square Shopping Center in Hummelstown and Berlin Mall in Berlin. Anchor tenant Kmart vacated 107,000 square feet within Hershey Square in March 2019. Heidenberg Properties has been underway leasing the space with 10-year leases to multiple tenants, including Planet Fitness, TJ Maxx, Big Lots and Five Below. Additionally, Chipotle Mexican Grill will occupy space at a new …

October 5, 2020

Development New York News

Reading International Unveils Tammany Hall Redevelopment in Manhattan

by Alex Tostado October 5, 2020

New York City — Reading International, an international cinema and real estate firm, has unveiled the redevelopment of the historic Tammany Hall Building at 44 Union Square in Manhattan. The former 19th-century political hub is now a Class A building with 73,095 square feet of space that can be utilized for either retail or office usage. BKSK Architects designed the project, which included a restoration of the façade and the addition of a three-story glass and steel dome with 19-foot ceilings and views overlooking Union Square.

October 5, 2020

Malls New Jersey News Retailers

Triple Five Group Reopens American Dream in East Rutherford, New Jersey

by Alex Tostado October 1, 2020

East Rutherford, N.J. — Triple Five Group has reopened the American Dream shopping and entertainment destination in East Rutherford, located just outside New York City. American Dream is located in the Meadowlands Sports Complex by MetLife Stadium, home of the New York Jets and Giants and features some 3 million square feet of retail and entertainment space. According to local media reports, marquee attractions include such as the Nickelodeon Universe theme park, DreamWorks water park, Angry Birds mini-golf and an NHL-sized ice skating rink are now open under limited capacities. …

October 1, 2020

California Investment sales News Retailers

Waterford Property Buys Marketplace at the Lakes in West Covina, California for $18.6 Million

by Alex Tostado October 1, 2020

West Covina, Calif. — Waterford Property Co. has acquired Marketplace at the Lakes, a value-add retail property located at 904-907 Lakes Drive in West Covina. CIM Group sold the asset for $18.6 million. Built in 1994 on seven acres, Marketplace at the Lakes features 95,628 square feet of retail space. At the time of sale, the property was 80 percent occupied by Michaels and Jerome’s Furniture. In November 2015, Waterford acquired The Lakes, an office campus adjacent to the recently purchased retail center, and repositioned the property into a Class …

October 1, 2020

Investment sales Kansas News Retailers

Block & Co. Sells 8,000-Square-Foot Monticello Center in Shawnee, Kansas

by Alex Tostado October 1, 2020

Shawnee, Kan. — An investment group headed by Block & Co. Inc. Realtors has sold Monticello Center, an 8,000-square-foot retail building in Shawnee. The sales price was undisclosed. The property is fully leased to Chipotle, Farmers Insurance, Domino’s, Lush Nail Spa and Yoga Fit. Block & Co originally developed the building in 2004 and has remained its leasing and property management company. David Block and Larry Graves of Block & Co. represented the seller. Cory DeLong of AREA Real Estate Advisors represented the undisclosed buyer.

October 1, 2020

California Investment sales News Retailers

NewMark Merrill Acquires The Shops at SouthBay Pavilion in Metro Los Angeles

by Alex Tostado September 30, 2020

Carson, Calif. — NewMark Merrill Cos. has acquired The Shops at SouthBay Pavilion in Carson. The asset spans 182,193 square feet and is situated within SouthBay Pavilion. The Shops at SouthBay were leased to tenants including Burlington, Ross Dress for Less, Sola Salons, Norms Restaurant, Chipotle, Smashburger, Jersey Mike’s, Buffalo Wild Wings and Olive Garden at the time of the sale. IKEA, Target, Cinemark Theaters and JC Penny anchor the balance of the more than 1 million-square-foot mall. SouthBay Pavilion is located at 20700 S. Avalon Blvd., 18 miles south …

September 30, 2020

California Company news Entertainment News

Media Reports: Disney to Lay off 28,000 Employees at Theme Parks in California, Florida

by Alex Tostado September 30, 2020

Burbank, Calif. — The Walt Disney Co. will lay off 28,000 employees who were previously furloughed due to the coronavirus pandemic, according to multiple media reports. Disney World in Orlando, Fla., and Disneyland in Anaheim, Calif., both closed in mid-March due to the COVID-19 outbreak. Disney’s chief financial officer Christine McCarthy said in May that for every two weeks the parks were closed, the company lost $500 million. Disney World reopened in July with limited capacity, but Disneyland remains closed under California guidelines. A timeline for reopening has not been established. …

September 30, 2020

Development Florida Grocery-anchored News Retailers

Whole Foods Market to Open New 40,000-Square-Foot Store in Jacksonville Beach Next Week

by Alex Tostado September 30, 2020

Jacksonville Beach, Fla. — Whole Foods Market will open a 40,000-square-foot store in Jacksonville Beach on Oct. 7. The new grocery store will anchor Pablo Plaza, a 156,755-square-foot shopping center located at 1822 S. Third St., 22 miles east of downtown Jacksonville. Pablo Plaza’s other tenants include Marshalls, HomeGoods, PetSmart and Office Depot. Jax Daily Record reports that J. Raymond Construction Corp. is the general contractor, CPH Engineering is the civil engineer and ELM | Ervin Lovett Miller is the architect. Jacksonville-based Regency Centers leases the property on behalf of the …

September 30, 2020

Development Entertainment Illinois News Restaurants

Knoebel Construction Builds Drake’s Restaurant in O’Fallon, Illinois

by Alex Tostado September 30, 2020

O’Fallon, Ill. — Knoebel Construction has completed building a new Drake’s restaurant in O’Fallon near St. Louis. The 6,014-square-foot restaurant and entertainment venue features two full-service bars and a covered patio. Drake’s, an entity of parent company Bluegrass Hospitality Group, is a Kentucky-based chain with 15 locations across the Midwest and Southeast. The restaurant offers more than 20 craft beers on tap as well as sandwiches, salads, burgers and sushi. Drake’s says it is closely following government guidelines for reopening during COVID-19 and working alongside state and local officials to …

September 30, 2020

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