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PSG
CaliforniaCompany newsLeasingNews

Fanatics, Paris Saint-Germain Open First Standalone European Soccer Club Retail Location in Los Angeles

by Julia Sanders

Los Angeles — Soccer team Paris Saint-Germain (PSG) has opened a permanent retail store within Westfield Century City Mall in Los Angeles in partnership with apparel retailer Fanatics. The sports club is expanding its global retail presence with plans to open several new stores in key international markets, beginning with the Los Angeles location. The store openings form part of a 10-year retail and merchandising deal signed between PSG and Fanatics in 2020. Fanatics, which is part owner of Lids, will tap into Lids’ physical retail experience to open and …

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Investment salesNewsNorth Carolina

Thompson Thrift Retail Group Sells 11,000-Square-Foot Retail Building in Metro Charlotte

by Julia Sanders

Concord, N.C. — Thompson Thrift Retail Group has sold an 11,000-square-foot, multi-tenant retail building in Concord to an undisclosed private buyer from California. The building, which is located at 3050 Derita Road, is the second of four lots to be developed within Thompson Thrift’s 7.5-acre Shops on Derita retail development. The building was fully leased at the time of sale to tenants including Supercuts, Smoothie King, Chicago’s Pizza with a Twist, Wingstop and Cinnaholic. Thompson Thrift expects the two remaining lots to be sold during the third quarter. David Hoppe …

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Park Place Village
KansasLeasingNews

Seven Retailers Join Tenant Lineup at Park Place Village in Leawood, Kansas

by Julia Sanders

Leawood, Kan. — Seven retailers have joined the tenant lineup at Park Place Village, a 484,002-square-foot office and retail property in Leawood. The new tenants include day spa MassageLuXe, local Italian restaurant Plate, Thai restaurant Bamboo Penny’s, ice cream shop Ice Cream Bae, island-themed coffee shop and bar Outta the Blue, menswear company Moda Domani and custom-designed jeweler Moshiri Jewelry. Matt Rau of CBRE represented the owner, KBS, in the seven lease transactions, which range in size from 803 to 5,972 square feet. The 10-building Park Place Village, located at …

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Beach Blvd.
FloridaInvestment salesNews

NAI Hallmark Brokers Sale of 14,290-Square-Foot Shopping Center in Jacksonville, Florida

by Julia Sanders

Jacksonville, Fla. — NAI Hallmark has brokered the sale of a 14,290-square-foot shopping center located at 11645 Beach Boulevard in Jacksonville. Austin Kay and Eric Yi represented the seller, Mark’s Investment Properties LLC, in the off-market transaction. The buyer, Mr. Implant LLC, was represented by Jason Price with Crown Tenant Advisors out of Roswell, Georgia. The property was sold for $1.5 million. The shopping center includes two buildings and is located at the intersection of Beach and Beachwood Boulevards, less than a mile east of the Interstate 295 East Beltway.

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Investment salesMinnesotaNews

Upland Brokers $2.4 Million Sale of Sleep Number-Occupied Retail Property in Rochester, Minnesota

by Julia Sanders

Rochester, Minn. — Upland Real Estate Group has brokered the sale of a Sleep Number-occupied retail property in Rochester for $2.4 million. Sleep Number relocated from Apache Mall in 2018 to this 3,000-square-foot, freestanding store at 2257 Commerce Drive NW. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland represented the 1031 exchange buyer in the acquisition of the net-leased property. Tom Gommels of Marcus & Millichap represented the seller, a limited liability company.

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Investment salesKentuckyNews

NAI Isaac Brokers Sale of 16,300-Square-Foot Retail Center in Lexington, Kentucky

by Julia Sanders

Lexington, Ky. — NAI Isaac has brokered the sale of a 16,300-square-foot retail center located at 268-278 Southland Drive in Lexington. An unnamed, locally based investor purchased the property for an undisclosed price. The buyer retained NAI Isaac as property manager. The center spans two buildings and is occupied by Planned Parenthood, Gold & Diamond Apparel, GDA Jewelers, Lexington Healing Arts Academy, Associates in Rehab and Providence Community Church. Jamie Adams and J. L. Cannady of NAI Isaac represented the buyer in the transaction. John Bunch of SVN Stone Commercial …

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CaliforniaCompany newsNews

Gap’s First Quarter Sales Increase 28 Percent, Net Sales Hit $4 Billion

by Julia Sanders

San Francisco — Gap Inc. (NYSE: GPS), the parent company of Old Navy, Gap, Banana Republic and Athleta, released its first-quarter 2021 fiscal report showing net sales reached $4 billion, up 8 percent from 2019. Additionally, comparable sales were up 28 percent year-over-year and rose 13 percent since pre-pandemic 2019. The company showed strong increases in net sales at Old Navy and Athleta — 27 percent and 56 percent increase over 2019, respectively. There were declines in net sales at Gap Global (16 percent) and Banana Republic Global (29 percent). …

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HSBC
Company newsNew YorkNews

HSBC Sells 90 Branches, Exits Mass-Market Retail Banking Sector

by Julia Sanders

New York City — HSBC Holdings has announced plans to exit its U.S. mass-market retail banking business through the sale of 90 of its 148 domestic branches. HSBC will retain 20 to 25 of its existing physical locations in the U.S., which will be repurposed into international wealth centers. These branches will focus exclusively on the banking and wealth management needs of high-net-worth clients. These centers will be located in cities such as New York, Washington, D.C., San Francisco, Seattle, Los Angeles and Miami, according to reports by The Wall …

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Lincoln Road
FloridaInvestment salesNews

ALTO Real Estate Funds Purchases Lincoln Road Retail Property in Miami Beach for $18.9 Million

by Julia Sanders

Miami Beach, Fla. — ALTO Real Estate Funds has purchased a 7,142-square-foot retail property located in Miami Beach for $18.9 million. The property is situated along Lincoln Road, Miami Beach’s high street retail corridor. The seller was Gombinski Properties, who bought the property in 1985. Ran Ziv and Sean Shahar Ziv of GLT Group Brokerage represented the seller and the buyer. The property comprises two suites located at 900 and 904 Lincoln Road, at the corner of Jefferson Avenue. The corner building underwent a complete renovation in 2016 and now …

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Petsuites
GeorgiaInvestment salesNewsVirginia

SRS Brokers $10.6 Million Sale of Two Petsuites-Occupied Stores in Virginia, Georgia

by Julia Sanders

Newport News, Va. and Lawrenceville, Ga. — SRS Real Estate Partners’ National Net Lease Group has brokered the sales of two single-tenant retail properties for a combined $10.6 million. The properties are located in Newport News and Lawrenceville and were both built in 2020. Petsuites signed long-term, 20-year leases at both locations. Britt Raymond and Kyle Fant of SRS represented the seller, a North Carolina-based developer, in both 1031 exchange transactions. Both stores span 14,000 square feet. The Newport News location is located at 12533 Warwick Blvd. The property is …

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