Irving, Tx. — Retail brokerage firm Disney Investment Group has arranged the sale of Towne North, a 124,289-square-foot shopping center in Irving. Ethnic grocer El Rancho Supermercado anchors the property, which was 97 percent leased at the time of sale. David Disney and Adam Crockett of Disney Investment Group represented the seller, an affiliate of Dallas-based Nayeb Group, which sold the property to an out-of-state private equity firm.
New York City — New York City-based RCS Real Estate Advisors has facilitated an agreement between Premium Brands, the owner and operator of Ann Taylor and Lane Bryant, and Simon Property Group to keep all Ann Taylor, LOFT, and Lane Bryant stores located at Simon properties open. Related to this agreement, a filing was made with the bankruptcy court on February 18 to assume the leases involved and Simon withdrew their objection to the confirmation of the company’s go-forward plan.
Burbank, Calif. — Once a shopping mall mainstay, The Walt Disney Co. (NYSE: DIS) has announced plans to close at least 60 of its brick-and-mortar locations — or 30 percent — in the U.S. and Canada in a bid to shift its focus to e-commerce. These closures are being described as the “beginning” of the company’s downsizing efforts, according to The New York Times, with a significant number of overseas stores also expected to close in 2021. The specific stores to be closed were not disclosed. Changing consumer behavior was cited as a catalyst …
Brandon, Fla. — HGreg.com, a pre-owned automotive retailer, has expanded to a 10-acre property in the Tampa Bay Area. The retailer plans to open its new regional fulfillment center and dealership in Brandon this spring. Construction costs are estimated at more than $30 million. Located at 1207 E Brandon Blvd. in Hillsborough County, the new facility will feature a 42,000-square-foot building, a showroom and an inventory of more than 1,000 pre-owned vehicles. The new property will allow HGreg.com to expand its service offering, both digital and onsite, to car buyers throughout …
Anchorage, Alaska — Newmark has arranged the $13 million sale of a property net-leased to Walgreens in Anchorage. Matt Berres and Samer Khalil of Newmark represented the buyer, an undisclosed private investor from Los Angeles, in the sale of the 14,550-square-foot property. Deerfield Partners represented the undisclosed private seller in the transaction.
Winter Haven, Fla. — Merlin Entertainments and Hasbro have partnered to build the world’s first standalone Peppa Pig Theme Park. Situated within LEGOLAND Florida Resort in Winter Haven, the new park is expected to open in 2022. Merlin has an exclusive multi-territory licensing agreement with Hasbro, owner of the Peppa Pig brand, to build and operate the attractions, which are targeted at the preschool market. Peppa Pig Theme Park will feature multiple rides, interactive attractions, themed playscapes and water play areas with live daily shows. Ride and attraction details for the new …
Victorville, Calif. — BH Properties has signed a lease with Grocery Outlet for a 16,130 square-foot anchor space at Hi Desert Plaza in Victorville. Grocery Outlet is expected to open this summer and will join tenants including DD’s Discounts, Dollar Tree, Aaron’s, Goodwill and Bank of America at the 140,000-square-foot center. Brad Umansky and Paul Su of Progressive Real Estate Partners represented the landlord in the transaction. Townsand Cropsey and Garrett Colburn of SRS Real Estate Partners represented Grocery Outlet.
Milton, Fla. — Branch Properties and Merganser Enterprises LLC are set to break ground on a Publix-anchored shopping center in Milton known as Merganser Commons at Dogwood Estates. The 66,921-square-foot shopping center is slated for completion in April 2022. The property will include a 46,811-square-foot Publix, two additional buildings totaling 20,110 square feet of retail space and a 1.3-acre outparcel with up to 7,500 square feet of retail space. Branch Properties and JLL’s Emily Miller are currently pre-leasing space at Merganser Commons.
Babcock Ranch, Fla. — JLL Capital Markets has secured construction financing for the development of Crescent B Commons, an 82,640-square-foot, Publix-anchored neighborhood shopping center in Babcock Ranch, a new town situated northeast of Fort Myers. Tarik Bateh and Jennifer Swanson of JLL arranged the loan through Ameris Bank on behalf of the developer, Kitson & Partners. Construction on the center began in August 2020 and is slated for completion in summer 2021. The Publix is set to open shortly after. Crescent B Commons will be located in the front of Babcock Ranch, …
Springdale, Ark. — CBRE has arranged a $30.1 million sale-leaseback of 13 freestanding grocery stores leased to Harps Foods Stores Inc. totaling 459,525 square feet in Arkansas and Missouri. Harps sold the portfolio to New Jersey-based Essential Properties Realty Trust Inc. Will Lightfoot, Jason Little, David Erstine and Hunter Groce of CBRE represented the seller in the transaction. All 13 properties were sold subject to new, long-term net leases with Harps and will continue to operate under Harps-operated brands, including Harps Food Stores and 10Box. The sale will not affect store operations …
