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Drive Shack to Reopen 65,000-Square-Foot Location in Orlando on Friday

by Alex Tostado

Orlando, Fla. — Drive Shack Inc. will reopen its 65,000-square-foot location in Orlando on Friday, Dec. 18. The location closed earlier this spring in accordance with local COVID-19 guidelines. The venue is located at 7285 Corner Drive, 21 miles southeast of downtown Orlando. It is open from 3 p.m. to 11 p.m. Monday through Thursday and from noon to 11 p.m. Friday through Sunday. The location will operate with restrictive and precautionary measures in place, including enhanced cleaning and sanitization protocols, capacity limitations, social distancing measures and certain restrictions on …

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DevelopmentEntertainmentNewsTexas

ShowBiz Cinemas to Open New Concept in Waxahachie, Texas

by Alex Tostado

Waxahachie, Texas — ​ShowBiz Cinemas will open its new Bowling, Movies & More concept in Waxahachie on Dec. 18. The venue features 13 theater auditoriums, 14 bowling lanes, three party rooms and an arcade. The 66,000-square-foot location also sells cafe-style food and has a full bar with 20 beer taps. The Dallas-based operator opened the venue with COVID-19 protocols in place, such as all staff and patrons must wear a mask except for when eating or drinking within the auditorium, all staff members must wear gloves and receive a temperature check before …

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Company newsNewsWisconsin

Outlook Management Group Partners with Local Businesses to Donate Meals to Families in Need in Milwaukee

by Alex Tostado

Milwaukee — Outlook Management Group LLC’s president Ray Balfanz has partnered with Hunger Task Force of Milwaukee and other local small businesses to donate food to Milwaukee residents in need. Balfanz created the CollectionConnection to raise money for meals. The six-week fundraiser will end Dec. 31. As of Dec. 11, $2,225 had been raised, which means meals plus one holiday meal for 20 families for one week have been donated through the program. Balfanz is teaming with Wisconsin-based companies such as Pinnacle Construction, LLJ Ventures and Wisconsin Mall Properties. Balfanz says …

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Grocery-anchoredIndianaInvestment salesMichiganNewsRetailers

IPA Brokers $22 Million Sale of Two Kroger-Anchored Shopping Centers in Indiana, Michigan

by Alex Tostado

Fort Wayne, Ind. and Farmington Hills, Mich. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of two Kroger-anchored shopping centers for a combined $22 million. The first property is West State Plaza, a 96,334-square-foot center in Fort Wayne. The second is Mid-Eleven Center, a 74,525-square-foot property in the Detroit suburb of Farmington Hills. West State Plaza, also home to Dollar Tree, a freestanding Pizza Hut and a freestanding Chase Bank, was 91.7 percent occupied at the time of sale. It was built in …

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DevelopmentGrocery-anchoredNewsRetailersTexas

Brookshire Grocery, City of Fate Begin Construction on 66,000-Square-Foot Grocery Store

by Alex Tostado

Fate, Texas — Tyler, Texas-based owner-operator Brookshire Grocery Co. and the City of Fate, located northeast of Dallas, have broken ground on a 66,000-square-foot grocery store for Brookshire’s FRESH concept. The public-private partnership expects to complete the project in late 2021 and to bring about 200 new jobs to the community. The store will be Brookshire’s second under the FRESH brand, with the first opening in Tyler in 2011. The concept in Tyler includes authentic Japanese ramen and Vietnamese pho counters, a taco bar, coffee bar, patio dining and onsite …

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

RK Centers Acquires Grocery-Anchored Shopping Center in Metro Boston for $23 Million

by Alex Tostado

Framingham, Mass. — Locally based investment firm RK Centers has acquired an 80,000-square-foot grocery-anchored shopping center in the western Boston suburb of Framingham for $23 million. Stop & Shop is the grocer that anchors the property, which is located just off Exit 13 of the Massachusetts Turnpike. Geoffrey Millerd of Newmark represented the seller, a joint venture led by Florida-based shopping center REIT Regency Centers, in the transaction.

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FinanceNew YorkNewsRetailers

G.S. Wilcox Arranges $18 Million Loan for Refinancing of Shopping Center on Long Island

by Alex Tostado

Plainview, N.Y. — G.S. Wilcox, an intermediary based in Northern New Jersey, has provided an $18 million loan for the refinancing of a 118,000-square-foot shopping center in the Long Island hamlet of Plainview. The loan was structured with a 15-year term and a 30-year amortization schedule. David Fryer of G.S. Wilcox arranged the loan through one of the firm’s correspondent lenders on behalf of the undisclosed borrower.

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IllinoisInvestment salesNewsRetailers

Marcus & Millichap Negotiates $11 Million Sale of Shopping Center in Schaumburg, Illinois

by Alex Tostado

Schaumburg, Ill. — Marcus & Millichap has negotiated the sale of a 130,105-square-foot shopping center in Schaumburg for $11 million. The property is home to PGA Tour Superstore and XSport Fitness. It is located at 1317-1321 E. Golf Road. Sean Sharko, Austin Weisenbeck and Adrian Mendoza of Marcus & Millichap marketed the property on behalf of the seller, a trust. The team also secured and represented the buyer, a Chicago-based limited liability company completing a 1031 exchange.

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DevelopmentGrocery-anchoredNewsNorth CarolinaRetailers

Food Lion Completes $212.5 Million Remodel of 112 Mid-Atlantic Stores

by Alex Tostado

Salisbury, N.C. — Food Lion has completed the $212.5 million remodel of 112 grocery stores in Virginia, West Virginia, Delaware, Pennsylvania and Maryland. The Salisbury-based grocer hired 2,300 employees at the stores. According to a study conducted by Towson University’s Regional Economic Studies Institute, the stores will generate $360 million in economic impact. Over the next week, the locations will hold giveaways that will range from reusable shopping bags to gift cards. Each store now includes more items in the “local goodness” section, an expanded craft beer and limited reserve …

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Investment salesNewsRetailersVirginia

Branch Properties Sells Walmart-Anchored Shopping Center in Hampton Roads Region

by Alex Tostado

Hampton, Va. — Branch Properties has sold Mercury Plaza, a 98,066-square-foot shopping center in Hampton. Walmart Neighborhood Market and Marshalls anchor the center, which is situated at the intersection of West Mercury Boulevard and Power Plant Parkway, 21 miles north of downtown Norfolk in Virginia’s Hampton Roads region. Branch acquired the property in 2018 for $25 million and invested $2.6 million to build a new building on the site. The Atlanta-based seller also sold four outparcels in 2019 for $9.7 million. Fain Hicks, Margaret Jones, John Owendoff and Lane Breedlove …

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