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CocoWalk Welcomes Eight Retailers to its Lineup

by Alex Tostado

Miami — Federal Realty Investment Trust, The Comras Co. and Grass River Property have welcomed eight new retailers to their CocoWalk development in Miami. The three retailers that recently opened are vegetarian restaurant Planta Queen and women’s clothing and accessory retailers Free People Movement and Edite Mode. The five retailers that are expected to open this month are men’s beachwear retailer Europann, Mr. 01 Extraordinary Pizza, shoe retailer Sportive, Edward Beiner Eyewear and music store The School of Rock. The retail space at CocoWalk spans 150,000 square feet and surrounds …

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Investment salesNew YorkNewsRetailers

Thor Equities Group Sells Retail Building in Manhattan for $40 Million

by Alex Tostado

New York City — Locally based investment firm Thor Equities Group has sold a 17,600-square-foot retail building located at 164 Fifth Ave. in Manhattan for $40 million. The six-story property, which is located between 21st and 22nd streets in the Flatiron District, was fully leased at the time of sale to tenants such as Alo Yoga and restaurant Sutra. The buyer was not disclosed.

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Company newsNewsRetailersTexas

Apparel, Accessories Retailer Francesca’s Files for Bankruptcy, to Close 97 More Stores

by Alex Tostado

Houston — Francesca’s, the Houston-based apparel and accessories chain for women, has filed for Chapter 11 bankruptcy and will close an additional 97 stores across the country, according to documents filed in the U.S. Bankruptcy Court for the District of Delaware. Francesca’s had previously announced in mid-November that it would be closing 140 stores, or roughly 20 percent of its total count, and possibly pursuing a Chapter 11 bankruptcy declaration. According to CNBC, Francesca’s has received a buyout offer from Los Angeles-based TerraMar Capital and hopes to close a sale by late January.

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CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Arranges $17 Million Sale of Shopping Center in Southern California

by Alex Tostado

Huntington Beach, Calif. — Hanley Investment Group has arranged the sale of Village Plaza at Huntington Harbor, a 20,328-square-foot shopping center. The sales price was not disclosed, but according to industry sources, the sales price was $17 million. The property was 91 percent leased at the time of sale to tenants including Harbor Barber, Secret Spot Restaurant, La Bodega Bottle Shop, Super Mex, Stoney’s Pizza, Sunset Vapor, Riip Beer Co. and Tsunami Sushi. The center is situated at 17196-17236 Pacific Coast Highway, two blocks from the beach and 31 miles …

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DevelopmentGrocery-anchoredMassachusettsNewsRetailers

Market Basket Opens New 69,374-Square-Foot Location in Maynard, Massachusetts

by Alex Tostado

Maynard, Mass. — Market Basket has opened a 69,374-square-foot grocery store within Maynard Crossing in Maynard. The 730,000-square-foot mixed-use development is home to other retail tenants such as Eco Nails & Spa, Planet Fitness and Maynard Wine & Spirits. Capital Group Properties broke ground on Maynard Crossing in 2019. Other uses include The Vue at Maynard Crossing, a 180-unit multifamily community; Camellia Gardens, a 143-unit seniors housing community; Emerson Hospital Urgent Care; and outdoor spaces such as water features, a dog park, walking paths and green space.

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Company newsFloridaNews

Sonny’s Enterprises Agrees to Buy Lone Star Car Wash Systems

by Alex Tostado

Tamarac, Fla. — Sonny’s Enterprises has entered into an agreement to buy Lone Star Car Wash Systems for an undisclosed price. Sonny’s will use the acquisition of the Texas-based car wash company to expand and create Sonny’s CarWash Services of Texas. The Tamarac, Florida-based buyer says current car wash owners and potential investors will have a local team to rely on for help with everything from equipment and chemistry, to site and management consulting, maintenance and repair. “Our proposal to acquire Lone Star was an easy decision because it allows …

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CaliforniaDevelopmentInvestment salesNewsRetailers

Beacon Realty, Carolina Capital Acquire Open-Air Retail Center in Southern California

by Alex Tostado

La Quinta, Calif. — A joint venture between Beacon Realty Advisors and Carolina Capital Real Estate Partners has acquired Jefferson Square, a partially built, open-air shopping center in La Quinta. The property’s infrastructure has been completed but only half of the land has been fully developed, according to Beacon Realty. A CVS/pharmacy anchors the center. The buyers plan to lease the vacant 14,000 square feet to a grocer, medical tenant or home improvement retailer. Regency Centers sold the property, which spans 10 acres, for an undisclosed price. A timeline for …

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Investment salesMarylandNewsRetailers

JCR Acquires Two Shopping Centers in Maryland for $23.8 Million

by Alex Tostado

Rockville and Bel Air, Md. — The JCR Cos. has acquired two shopping centers in Maryland totaling $23.8 million. The first property is Woodley Gardens Shopping Center in Rockville. The asset is situated at 1101-1125 Nelson St., 17 miles north of downtown Washington, D.C. Washington, D.C.-based JCR acquired the 22,797-square-foot property for $4.5 million. It was fully leased at the time of the sale to tenants including Hard Times Café, Essex Bank, Slice of Rockville, Carmen’s Ice Cream and Shanghai Taste. The second property is Bel Air Town Center, which …

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Company newsNewsRestaurantsTennessee

Burger Republic Launches Gift Card Program to Feed Frontline Workers, First Responders

by Alex Tostado

Nashville, Tenn. — Burger Republic has launched its “Defend Heroes” gift card promotion. For every $50 spent on a gift card, the Nashville-based burger chain will donate one meal to a frontline worker or first responder in the Music City. The promotion will run through Dec. 31. The gift cards can be purchased online or in-person at any of the four locations in metro Nashville. Drew Jackman, who partnered with Jeff Warne to create Burger Republic in 2012, says the “Defend Heroes” promotion was shaped in May during a buy …

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LeasingNew YorkNewsRetailers

The Home Depot Signs 120,000-Square-Foot Lease to Remain in Manhattan

by Alex Tostado

New York City — The Home Depot has signed a long-term, 120,000-square-foot lease to remain at Williams Equities’ 28 & 40 W. 23rd St. location in Manhattan’s Flatiron District. The new lease expires in the mid-2030s. The Atlanta-based home improvement retailer has occupied the ground floor, lower level and mezzanine since 2003. Other tenants at the location include AT&T subsidiary Xandr and Estee Lauder brand Aramis. Michael Cohen, Andrew Roos and Mac Roos of Colliers International Tri-State represented the landlord in the transaction. Peter Ripka of Ripco Real Estate represented …

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