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Saucy-Brew-Works
DevelopmentLeasingMichiganNews

Saucy Brew Works to Open Brewpub, Coffeehouse in Detroit’s Brush Park

by Katie Sloan

Detroit — Saucy Brew Works will open a new brewpub and coffeehouse in Detroit’s Brush Park neighborhood. The opening is slated for March 3. The 5,700-square-foot space will be the first restaurant within Bedrock’s City Modern apartment development. Guests will enjoy a variety of beers and specialty coffees in addition to food offerings such as appetizers, sandwiches, wings and pizza. In response to COVID-19, Saucy Brew Works will provide hand sanitizer, masks, six-foot table distancing and floor markers for spacing. Residents of City Modern will receive a 20 percent discount. This …

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Port-Covington
DevelopmentMarylandNews

Weller Development to Break Ground on Next Phase of Port Covington in Baltimore

by Katie Sloan

Baltimore — Weller Development Co. plans to break ground on what it calls Chapter 1B of Port Covington in Baltimore in February. The development team, which also includes Goldman Sachs and Sagamore Ventures, received $650 million in financing for this phase, including $137 million in tax increment financing (TIF) bonds. In conjunction with the closings, the Port Covington development team funded more than $9 million to the South Baltimore 7 Coalition as part of its Community Benefits Agreement (CBA), which is the largest CBA payout in the history of Baltimore. The latest …

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EastVillage-Austin
DevelopmentNewsTexas

Reger Holdings to Develop 425-Acre EastVillage Mixed-Use Project in Austin

by Katie Sloan

Austin, Texas — Buffalo-based Reger Holdings will develop EastVillage, a 425-acre mixed-use project that will be located along the Parmer Lane tech corridor in northeast Austin. Both the Austin American-Statesman and Community Impact Newspaper put the value of the project at approximately $1 billion. Current plans call for approximately 800,000 square feet of office space, 300,000 square feet of retail and restaurant space, three hotels totaling 390 rooms, 2,000 multifamily units, an active adult community and a 150-acre nature preserve. The centerpiece of the development will be a 1.5-acre village green …

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DevelopmentInvestment salesNewsTexas

Triten Real Estate Partners Buys 300,000-Square-Foot Market Square Mall in Plano

by Katie Sloan

Plano, Texas — Triten Real Estate Partners has purchased Market Square Mall, a 300,000-square-foot former outlet mall that is situated on 26 acres in Plano. Daniel Eng and Calvin Wong of ENGVEST represented the seller, private investor Matthew Loh, in the transaction. Dan Zeltser of SHOP Cos. represented the buyer. The new ownership will redevelop the mall, which was built in the 1980s, into a mixed-use destination. Specific details of the redevelopment plan were not disclosed.

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AMC
Company newsFinanceKansasNews

AMC Theatres Raises $917 Million of Investment Capital, Says Bankruptcy is ‘Completely Off Table’

by Katie Sloan

Leawood, Kan. — In effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. (NYSE: AMC) has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood-based movie theater company says the increased liquidity should enable it to survive well into 2021. Of the $917 million, AMC raised $506 million of equity from the issuance of new common shares. Additionally, the company executed commitment letters for $411 million of incremental debt capital from upsizing and refinancing its European revolving credit …

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Smart-Final-Stanton
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $11.3 Million Sale of 30,476-Square-Foot Retail Property in Orange County

by Katie Sloan

Stanton, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $11.3 million sale of a 30,476-square-foot single-tenant retail building in the Orange County community of Stanton. The property is net leased to Smart & Final Extra! and was remodeled in 2008. Eric Wohl, Ed Hanley and CJ Kiehler of Hanley represented the seller, 7050 Katella Avenue LLC, in the transaction. The buyer, a private investor from Los Angeles, was represented by Oliver Wang of RE/MAX Premier Properties. 

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Company newsNewsPennsylvania

American Eagle Outfitters to Close 225 Stores, Bolster Aerie Brand to $2B Revenue

by Katie Sloan

Pittsburgh — American Eagle Outfitters, Inc. (NYSE: AEO) has announced plans to close hundreds of its flagship American Eagle stores over the course of the next few years, while seeking to grow the company’s more successful lingerie and active-wear brand, Aerie, into a $2 billion business. The Pittsburgh-based company’s chief financial officer, Michael Mathias, announced plans to close 200 to 225 of the company’s 880 existing American Eagle locations over the next two to three years during a virtual investor meeting held Thursday, Jan. 21. “Our primary focus for the next few …

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Company newsFloridaNews

Winn-Dixie Parent Company Moves Forward With Initial Public Offering

by Katie Sloan

Jacksonville, Fla. — Southeastern Grocers Inc., the Jacksonville-based parent company of grocery brands Winn-Dixie, BI-LO, Fresco y Mas and Harveys Supermarket, is moving forward with its initial public offering (IPO) that it filed in mid-October. Founded in 1924, Southeastern Grocers operates 638 grocery stores, pharmacies and liquor stores across Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina. According to Market Watch, the company has 36,000 employees and its expected listing date for its shares of common stock is next week under the symbol “SEGR” on the New York Stock Exchange …

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7-11-Naples
FloridaInvestment salesNews

SRS Real Estate Partners Arranges $5.8 Million Sale of 7-Eleven Property in Naples

by Katie Sloan

Naples, Fla. — SRS Real Estate Partners has arranged the $5.8 million sale of a freestanding retail property occupied by 7-Eleven at 4704 Golden Gate Parkway in Naples. The newly renovated property includes a 3,500-square-foot building and 16 gas pumps. Michael Carter and Frank Rogers of SRS represented the seller, a Florida-based merchant developer, in the transaction. The buyer, a private investor in a 1031 exchange, was represented by Brad Thessing, Roger Massell and Chris Twist of Thessing Commercial Properties.

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Company newsNewsTexas

Francesca’s Receives Approval to Enter into Bankruptcy Sale Agreement, Will Keep 275 Stores Open

by Katie Sloan

Houston — Apparel and accessories retailer Francesca’s has received approval from the U.S. Bankruptcy Court for the District of Delaware to enter into a sale agreement with TerraMar Capital and Tiger Capital Group. Under the new ownership, the Houston-based retailer will open about 275 stores, or roughly half its total count, for business and retain its current management team, according to The Wall Street Journal. Under the terms of the agreement, known as a stalking horse asset purchase agreement, the buyers have agreed to purchase substantially all of the Francesca’s assets for approximately $17 …

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