News

Development Group to Build New Earth Fare Grocery Store in Christianburg, Virginia

by Alex Tostado July 7, 2020

Christianburg, Va. — A group of developers will build a new prototype of the specialty grocer in Christianburg. Walt Rector, founding principal of Flagstaff, Ariz.-based Bromont Investments, and investment partner Chris Carlsen, are leading the development of the Earth Fare, which will be located within Christianburg Marketplace. The new store will feature a smaller footprint than previous Earth Fare stores. Fletcher, N.C.-based Earth Fare closed all of its 46 stores and filed for bankruptcy in February. Randy Talley, cofounder of the original Earth Fare, and Dennis Hulsing, an Asheville, N.C.-based …

July 7, 2020

Arizona Investment sales News Retailers

Evergreen Devco Buys 163,594-Square-Foot Chandler Pavilions Retail Center in Arizona

by Alex Tostado July 7, 2020

Chandler, Ariz. — Evergreen Devco has acquired Chandler Pavilions, a shopping center located at 800-890 N. 54th St. in Chandler. Invesco sold the asset for an undisclosed price. Built in 1998, the value-add center features 163,594 square feet of retail space. Current tenants include REI, Bed Bath & Beyond, Golf Galaxy and Cost Plus World Market. Pat Dempsey of JLL represented the seller. Phoenix Commercial Advisors will continue to serve as leasing agents for the property.

July 7, 2020

Grocery-anchored Investment sales Mississippi News Retailers

SRS Negotiates Sale of 60,835-Square-Foot Retail Property in Starkville, Mississippi

by Alex Tostado July 7, 2020

Starkville, Miss. — SRS Real Estate Partners has negotiated the sale of a 60,835-square-foot retail property in Starkville. Vowell’s Marketplace, a regional grocery store, fully occupies the building with two years remaining on its corporate-guaranteed lease. The property was built in 1992 and is located at 118 Mississippi Highway 112, less than one mile from downtown Starkville and less than two miles west of Mississippi State University. Britt Raymond, Kyle Fant, Matthew Mousavi, Patrick Luther and Martin Smith of SRS represented the seller, a New York-based private investor. The buyer …

July 7, 2020

Colorado Investment sales News Retailers

Marcus & Millichap Brokers $13.3 Million Sale of Durango Town Center in Colorado

by Alex Tostado July 7, 2020

Durango, Colo. — Marcus & Millichap has arranged the sale of Durango Town Center, a retail shopping center located in Durango. A private partnership led by David Spriggs of Denver-based DMS Real Estate sold the asset to a private local investor for $13.3 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller, while Brian Hagger, also of Marcus & Millichap, represented the buyer. Phillip Gause of Marcus & Millichap Capital Corp. placed financing on behalf of the buyer. Located at 1125, 1145 and 1185 S. Camino …

July 7, 2020

Leasing News Restaurants Tennessee

Washington Prime Signs Chipotle, Chicken Salad Chick to Leases at Mall at Johnson City in Tennessee

by Alex Tostado July 7, 2020

Johnson City, Tenn. — Washington Prime Group (WPG) has signed Chipotle Mexican Grill and Chicken Salad Chick to the tenant roster of The Mall at Johnson City, a mall in Johnson City that is currently being redeveloped. The two eateries are expected to open in spring 2021. Other new and committed tenants include HomeGoods, which will replace the former Sears department store; Palmetto Moon, a Southern apparel retailer that opened in June; and Rose & Remington and Curve & Cloth, which are set to open next spring. WPG is renovating …

July 7, 2020

Malls Michigan News Retailers

Taubman Centers Reopens All Properties Across Portfolio Following Temporary Closures Due to COVID-19

by Alex Tostado July 6, 2020

Bloomfield Hills, Mich. — Taubman Centers Inc. (NYSE: TCO) has reopened all of its properties in the United States and Asia. Most U.S. centers were temporarily closed beginning March 19 in response to the COVID-19 pandemic. Bloomfield Hills-based Taubman says it has been gradually reopening centers using enhanced safety protocols in compliance with local, state and federal laws. Nearly 85 percent of stores within Taubman’s portfolio have reopened, according to Robert Taubman, chairman and CEO. Taubman’s portfolio consists of 26 super-regional and outlet shopping centers. The company is currently being …

July 6, 2020

Development Florida Grocery-anchored News Retailers

Ferber Breaks Ground on Durbin Creek Crossing in Jacksonville

by Alex Tostado July 6, 2020

Jacksonville, Fla. — The Ferber Cos. has broken ground on Durbin Creek Crossing, a 250,000-square-foot retail property spanning 70 acres in Jacksonville. The property will comprise 10 outparcels ranging from 0.8 to 2.6 acres. Aldi will occupy 19,000 square feet. Other announced tenants include Burger King, ABC Fine Wine & Spirits, First Florida Credit Union and Tire Kingdom. The property is situated at the corner of St. Johns Parkway and Racetrack Road, 21 miles south of downtown Jacksonville. Vallencourt Construction Co. is the general contractor and plans to complete site …

July 6, 2020

Development News Retailers Wisconsin

Target to Open at Former Boston Store Space in Milwaukee’s Bayshore Development

by Alex Tostado July 6, 2020

Milwaukee — Target has unveiled plans to open a 128,512-square-foot, two-story store at Bayshore in Milwaukee. The retailer will occupy the space within a former Boston Store. Construction is now underway, but the opening date has not yet been determined. Mid-America Real Estate – Wisconsin LLC represented both Target and Bayshore ownership in the lease transaction. Bayshore is an open-air shopping center that features a variety of retail shops, restaurants, offices and multifamily units. Cypress Equities is the owner.

July 6, 2020

Development Grocery-anchored News Retailers Texas

Whole Foods Opens 35,000-Square-Foot Store at Saltillo in East Austin

by Alex Tostado July 1, 2020

Austin, Texas — Whole Foods Market has opened its 35,000-square-foot store at Saltillo, a mixed-use development in East Austin by Endeavor Real Estate Group. The store has served as a fulfillment center for other regional stores during most of the COVID-19 pandemic. The store now offers fresh produce from 75 different growers, full-service meat and seafood departments, a bakery, coffee kiosk and more than 1,000 different wines and 280 different beers, including 150 selections from local alcoholic beverage suppliers.

July 1, 2020

Development Maryland News Retailers

Republic Breaks Ground on 35,000-Square-Foot Shopping Center in Metro D.C.

by Alex Tostado July 1, 2020

Waldorf, Md. — The Republic Family of Cos. has broken ground on Waldorf Park, a 35,000-square-foot retail project in Waldorf. The development is expected to open in the first half of 2021. Committed tenants at Waldorf Park include Chick-fil-A, Jersey Mike’s and Starbucks. The property is located along Crain Highway, about 20 miles southeast of downtown Washington, D.C. Venture Construction Co. is the general contractor for Waldorf Park, and Jimmy Richards & Sons Excavating is the site contractor. The architect is Brasher Designs. Sandy Spring Bank provided construction financing.

July 1, 2020

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