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Experiential Art, Entertainment Complex AREA15 Opens in Las Vegas

by Alex Tostado

Las Vegas — AREA15, an experiential art and entertainment complex in Las Vegas, is now open to the public. While the complex is free to enter, pre-registration and masks are currently required to manage capacities and ensure a safe environment. AREA15 offers art installations, socially distanced activities, unique retail, bars and eateries. The property houses 40,000 square feet of indoor and outdoor event space with more than 800 free parking spaces. Currently, open retailers and experiences include Art Island, Birdly Virtual Reality Experience, Emack & Bolios, Gallerie 360 inside The …

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Company newsEntertainmentNewsTexas

Dave & Buster’s Reports 85 Percent Drop in Quarterly Revenue, Flirts With Bankruptcy

by Alex Tostado

Dallas — Dave & Buster’s (NASDAQ: PLAY) reported an 85 percent drop in total revenue for the second quarter relative to that period a year, prompting several media organizations, including The Wall Street Journal, to report that bankruptcy filings may be imminent. Comparable store sales decreased by 87 percent during the second quarter, which saw the Dallas-based entertainment chain gradually reopen its venues. About 90 of Dave & Buster’s 137 locations are currently open for business across 27 states. Multiple news outlets, including The New York Post, have also reported that Dave & …

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ArizonaDevelopmentGrocery-anchoredNewsRetailers

Sprouts Farmers Market to Anchor 75,000-Square-Foot Sonoran Creek Marketplace Near Phoenix

by Alex Tostado

Maricopa, Ariz. — Thompson Thrift Retail Group, a wholly owned company of Indianapolis-based Thompson Thrift, has inked a deal for Sprouts Farmers Market to anchor Sonoran Creek Marketplace, the company’s $30 million retail center under development in Maricopa. The Phoenix-based specialty grocery chain is expected to open its 23,293-square-foot location in September 2021. Situated on 14 acres at the intersection of John Wayne Parkway and Edison Road, Sonoran Creek Marketplace will feature 75,000 square feet of retail and restaurant space. Additional recently signed tenants include The Joint Chiropractic, State Farm …

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IllinoisInvestment salesNewsRetailers

Marcus & Millichap Brokers $5.1 Million Sale of 7-Eleven Property in Metro Chicago

by Alex Tostado

Alsip, Ill. — Marcus & Millichap has brokered the $5.1 million sale of a 4,000-square-foot property occupied by 7-Eleven in Alsip, a southern suburb of Chicago. The build-to-suit property is located on 127th Street. The tenant has a 15-year lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a local developer. The duo also secured and represented the buyer, an out-of-state investor completing a 1031 exchange.

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Company newsGeorgiaKentuckyNewsRestaurants

Papa John’s to Open New Regional Office in Metro Atlanta by Next Summer

by Alex Tostado

Louisville, Ky. — Papa John’s International Inc. has announced it will open a new global headquarters in metro Atlanta by summer 2021. The Louisville-based pizza chain is in the process of picking an office space and expects to have a location finalized by the end of this year. Georgia Gov. Brian Kemp’s office says the move is expected to bring 200 jobs to the area. Papa John’s will move its menu innovation; marketing; customer experience; human resources; diversity, equity and inclusion; communications; and development departments to Georgia. IT, supply chain …

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DevelopmentGrocery-anchoredMinnesotaNewsRetailers

Lunds & Byerlys to Open 51,000-Square-Foot Grocery Store at Highland Bridge Development in St. Paul

by Alex Tostado

St. Paul, Minn. — Lund Food Holdings Inc. has entered into a long-term lease agreement with developer Ryan Cos. to open a full-service Lunds & Byerlys grocery store within the Highland Bridge project in St. Paul. The 51,000-square-foot store is expected to open in 2022. It will offer an extensive selection of prepared foods, specialty products and two levels of covered parking. The store will anchor a building with 230 apartment units. The existing Lunds & Byerlys store at 2128 Ford Parkway will remain open until the grand opening of …

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NewsRetailersWashington DC

Commerce Department: Retail Spending Up Slightly in August, Fourth Straight Month of Growth

by Alex Tostado

Washington, D.C. — The U.S. Commerce Department reported in its advanced estimate Wednesday morning that retail spending rose 0.6 percent on a month-over-month basis in August. Total sales for the month were $537.5 billion, up from $534.6 billion in July. This marks the fourth straight month retail sales rose since April, when sales plummeted 16.4 percent due to the coronavirus pandemic shutting down the U.S. economy in mid-March. The National Retail Federation (NRF) said it expected August numbers to slow due to federal assistance waning at the end of July, …

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DevelopmentNew JerseyNewsRetailers

Burlington Opens New Store at Somerville Circle Shopping Center in Raritan, New Jersey

by Alex Tostado

Raritan, N.J. — Burlington has opened a new store at Somerville Circle Shopping Center, a 150,000-square-foot property located at the intersection of Routes 202/206 and Route 28 in Raritan, about 45 miles southeast of New York City. Burlington has backfilled a space formerly occupied by Toys ‘R’ Us/Babies ‘R’ Us. Other tenants at the center include Staples, Petco, Jersey Mike’s, Burger King and Five Below. Levin Management Corp. manages the property. The square footage of the store was not disclosed.

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LeasingNew HampshireNewsRetailers

Home Furnishings Store Arhaus to Lease 15,000 Square Feet at Tuscan Village in Metro Boston

by Alex Tostado

Salem, N.H. — Home furnishings store Arhaus will occupy 15,000 square feet at Tuscan Village in Salem beginning spring 2021. Arhaus was founded in 1986 and operates 70 locations nationwide. The Ohio-based retailer specializes in hand-crafted furniture. Tuscan Village is a 170-acre, mixed-use development situated 30 miles north of downtown Boston. The property will span 2.8 million square feet and feature 800,000 square feet of retail space. Other announced tenants at Tuscan Village opening next spring include Williams Sonoma, Pottery Barn, Chipotle Mexican Grill and Chase Bank. Tuscan Brands founder …

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Company newsNew YorkNewsRetailers

Century 21 Files for Bankruptcy, to Close All 13 Department Stores

by Alex Tostado

New York City — Century 21, a New York City-based department store chain with a 60-year operating history, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The retailer will soon begin the process of ceasing operations and will close all 13 of its stores, which are located in New York, New Jersey, Pennsylvania and Florida. The decision follows nonpayment by Century 21’s insurance providers of $175 million due under policies put in place to protect against losses stemming from business …

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