Baltimore — Continental Realty Corp. (CRC) has launched an internal program to aid the restaurant industry in the communities it serves. CRC owns and operates retail centers and multifamily properties in Maryland, Virginia, North Carolina, South Carolina, Tennessee, Alabama, Georgia and Florida. Between April 14 and May 15, any CRC employee who provides a receipt for food items bought locally will be reimbursed up to $200. “We feel extremely strongly about initiating a program that benefits our loyal and hard-working team members and supports the restaurant sector,” says Crystal Frey, …
Melville, N.Y. — A&G Real Estate Partners has negotiated the sale of the leasehold interest in 10 grocery stores previously occupied by organic specialty grocery chain Earth Fare. The grocer filed for Chapter 11 bankruptcy reorganization in early February and the final leasehold sale closed Friday, April 10. The 10 stores averaged 26,000 square feet. Southeastern Grocers’ Winn-Dixie chain acquired four stores in Boynton Beach, Jacksonville, Lakewood Ranch and Viera, Florida. Austin, Texas-based Whole Foods Markets acquired two stores in south Asheville, North Carolina, and Chattanooga, Tennessee, and Aldi acquired one …
Plano, Texas — Cinemark Theatres, an operating subsidiary of Cinemark USA Inc., has announced the sale of $250 million in senior debt notes in a private offering, the Plano-based entertainment company said in a statement Monday. The offering on senior secured notes that are due in 2025 is expected to close April 20, subject to customary closing conditions. Cinemark said it plans to use proceeds from the sale for “general corporate purposes” that will increase liquidity. Multiple news outlets, including The Dallas Morning News and the Phoenix Business Journal, also report that Cinemark …
Salem, Ore. — Neville & Butler Commercial Real Estate has brokered the sale of a retail building located in Salem. Raider Hill Advisors sold the asset for an undisclosed price. Located at 1200 Lancaster Drive NE, the former Toys “R” Us property features 47,000 square feet of retail space. Steven Neville and Natalie Butler of Neville & Butler Commercial Real Estate represented the seller in the deal. The name of the buyer was not released.
Lilburn, Ga. — JLL has arranged the sale of Five Forks Corner, an 88,646-square-foot, Publix-anchored shopping center in Lilburn. The property was 89 percent leased at the time of sale to tenants including Pak Mail, Marco’s Pizza, Fitness 19, Mathnasium, Farmers Insurance, Sun City Tanning and Lush Nail Spa. The shopping center is situated at 4045 Five Forks Trickum Road SW, 24 miles northeast of downtown Atlanta in Gwinnett County. Jim Hamilton, Brad Buchanan and Mike Allison of JLL represented the seller, DLC Management Corp., in the transaction. Atlanta-based Branch …
Fort Walton Beach, Fla. — Marcus & Millichap has arranged the sale of Choctaw Plaza, a 93,650-square-foot retail center in Fort Walton Beach, as well as an outparcel property that is triple-net-leased to Compass Bank. The properties sold for a combined $9.8 million to different buyers. A private personal trust acquired Choctaw Plaza, located at 111 Racetrack Road NW, four miles north of downtown Fort Walton Beach. A Big Lots anchors the property, which was 89 percent leased at the time of sale to tenants including Dollar General, Rent-A-Center, Coldwell …
Yorba Linda, Calif. — Faris Lee Investments has arranged $39.6 million in financing for Packing House Square, a mixed-use center located at 18180-18389 Yorba Linda Blvd. in Yorba Linda. The borrower is an undisclosed private investment company. Loan proceeds will be used to reposition the asset as a medical arts plaza with a medical anchor tenant; renovate the existing retail plaza by adding an additional 11,450-square-foot corner retail wing; and re-tenant the vacant units. Jay Quinn and Kirt Boultinghouse of Faris Lee sourced the three-year bridge loan with Los Angeles-based …
Deerfield, Ill. — To provide greater access to COVID-19 testing and community resources, Deerfield-based Walgreens is working to expand drive-thru testing to 15 new sites in seven states. The locations include Arizona, Florida, Illinois, Kentucky, Louisiana, Tennessee and Texas. The testing sites will utilize Abbott’s new test, which delivers positive results in as little as five minutes and negative results within 13 minutes. The 15 locations are being finalized in collaboration with the U.S. Department of Health and Human Services and are planned for select hot spot markets with escalating …
Nashville, Tenn. — TC Restaurant Group has filed a Worker Adjustment and Retraining Notification (WARN) Act with the Tennessee Department of Labor and Workforce Development to notify the agency of 411 employee layoffs stemming from closures due to the coronavirus (COVID-19) pandemic. The Ohio-based company operates five honky-tonks in downtown Nashville, including Jason Aldean’s Kitchen + Rooftop Bar, Luke’s 32Bridge Food + Drink, Luigi’s City Pizza, Tequila Cowboy and FGL House. TC Restaurant Group says the employees were laid off in mid-March, when the company temporarily closed the doors to …
Silverdale, Wash. — Sprouts Farmers Market plans to open a new store at 11066 Pacific Crest Place NW in Silverdale, about 33 miles west of Seattle. The Phoenix-based natural foods grocer will open the store at 7 a.m. local time tomorrow morning. The Silverdale location will be the third Sprouts in Washington and will operate from 7 a.m. to 8 p.m. daily, in line with the grocer’s adjusted hours during the COVID-19 pandemic. The new Sprouts will feature a large produce section, deli, fresh sushi, olive bar, sandwich bar, salad …