News

Investment salesNewsRetailersWisconsin

Mid-America Brokers Sale of 7,882-Square-Foot Retail Building in Oak Creek, Wisconsin

by Alex Tostado

Oak Creek, Wis. — Mid-America Real Estate Corp. has brokered the sale of a 7,882-square-foot retail building on an outlot to Drexel Town Square in Oak Creek, about 12 miles south of Milwaukee. The sales price was undisclosed. The property is fully leased to five tenants, including Associated Bank, Sport Clips, Bentley’s Pet Stuff, Charles Schwab and Tropical Smoothie Café. Carly Gallagher Kelly and Andrew Prater of Mid-America represented the seller, a Wisconsin-based developer. A private investor purchased the asset.

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsNorth CarolinaRetailers

Progress Realty Acquires Shopping Center in Fayetteville, North Carolina for $36 Million

by Alex Tostado

Fayetteville, N.C. — Progress Realty Partners has acquired Marketfair Shopping Center, a 219,000-square-foot retail property in Fayetteville, for $36 million. The property recently underwent a complete redevelopment and remerchandising, highlighted by the mid-December grand opening of Lidl. The German grocer joins other national tenants such as Planet Fitness, Gander Outdoors and AMC Theatres. Marketfair Shopping Center is located at 1916 Skibo Road, six miles west of downtown Fayetteville. The seller was Westport Capital.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsDevelopmentNewsPennsylvaniaRetailers

Five Below Plans to Open 180 Stores in Fiscal Year 2020

by Alex Tostado

Philadelphia — Five Below Inc. plans to open 180 stores this year, which would grow the Philadelphia-based retailer’s footprint by 20 percent. The announcement came during the company’s fourth-quarter earnings call. Specific plans for the openings were not disclosed. At the same time, Joel Anderson, president and CEO of Five Below, said the company also acquired the e-commerce platform, fulfillment operation and certain other assets of Hollar.com.

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaFeaturesNewsRetailersSCBlog

Retailers, Landlords Face Complications of Factoring Online Returns Into Gross Sales

by Alex Tostado

With the rise of e-commerce, declining foot traffic in malls and shuttering department stores, retail landlords and brick-and-mortar tenants have faced a wave of challenges in recent years.  As a result, both landlords and tenants are constantly searching for new and unique ways to improve their bottom-line figures. One recent area where this has become an issue concerns in-person returns from online sales, and how they affect a retail tenant’s percentage rent calculation. Many retail leases contain a percentage rent provision in which a tenant pays a portion of its …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsRetailersTexas

JLL Negotiates Sale of 72,569-Square-Foot Bay Area Plaza Near Houston

by Alex Tostado

Webster, Texas — JLL has negotiated the sale of Bay Area Plaza, a 72,569-square-foot commercial property in Webster, located about 23 miles southeast of Houston. Bay Area Plaza comprises 45,269 square feet of retail space and 27,300 square feet of industrial flex space that combined was 98 percent leased at the time of sale. Retail tenants include Total Body Work, Pizza Hut, Dapper Doughnuts and Amy’s Nails. Ryan West, John Indelli and Ethan Goldberg of JLL represented the seller, Orr Commercial Inc., in the transaction. The buyer was undisclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
GeorgiaInvestment salesNewsRetailers

Halpern Enterprises Acquires Hobby Lobby-Anchored Shopping Center in Metro Atlanta for $11.6 Million

by Alex Tostado

Newnan, Ga. — Halpern Enterprises Inc. has acquired Newnan Crossing, a 92,412-square-foot shopping center in Newnan, about 35 miles southwest of downtown Atlanta. Ohio-based Retail Value Inc. sold the property to Smyrna, Georgia-based Halpern Enterprises for $11.6 million. A 66,412-square-foot Hobby Lobby anchors the center, which was fully leased at the time of sale. Other tenants include CATO, GNC, Edible Arrangements, Sally Beauty, American Deli, The Athlete’s Foot and T-Mobile. Walmart and Lowe’s Home Improvement shadow-anchor the center. Newnan Crossing was built in 1996 and is situated adjacent to Interstate …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsOhioRetailers

Cooper Group Negotiates $2.1 Million Sale of CVS-Occupied Property in Akron, Ohio

by Alex Tostado

Akron, Ohio — The Cooper Commercial Investment Group has negotiated the sale of a 10,125-square-foot retail property occupied by CVS Pharmacy in Akron for $2.1 million. CVS has more than 18.5 years remaining on its lease term. Bob Havasi and Dan Cooper of Cooper Group represented the seller, an Ohio-based private investor. A private Texas-based investor purchased the asset at a cap rate of 6 percent.

Continue Reading
0 FacebookTwitterLinkedinEmail
IllinoisInvestment salesNewsRetailers

Mid-America Brokers $1.1 Million Sale of Retail Building in Metro Chicago

by Alex Tostado

Evergreen Park, Ill. — Mid-America Real Estate Corp. has brokered the $1.1 million sale of an outlot at Evergreen Marketplace in Evergreen Park, about 15 miles south of Chicago. The 5,851-square-foot retail building is home to Cousins Subs, Hair Cuttery and The Crazy Crab. Ben Wineman and Emily Gadomski of Mid-America represented the seller, Sterling Bay. A private buyer purchased the asset.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsMassachusettsNewsRetailers

Bose to Close All Remaining U.S. Stores

by Alex Tostado

Framingham, Mass. — Bose Corp. will close all of its 54 stores in the U.S., as well as many remaining locations in Australia, Japan and Europe in the coming months, totaling 119 brick-and-mortar locations. The Framingham-based company, which specializes in audio engineering, said the closures are due to “dramatic” shifts to online shopping. Bose opened its first store in 1993 and currently has its biggest concentration of stores in the Northeast (10), Southern California (nine) and Florida (seven). “Originally, our retail stores gave people a way to experience, test and talk …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentLeasingMallsMarylandNewsRetailers

URW Unveils Renovation Plan, New Tenants at 1.4 Million-Square-Foot Westfield Annapolis Mall

by Alex Tostado

Annapolis, Md. — Unibail-Rodamco-Westfield (URW), the owner of Westfield Annapolis mall, has unveiled plans to renovate and improve the mall, while adding new tenants. URW will convert the mall’s 110,000-square-foot former Lord & Taylor department store into a new shopping district composed of boutiques, home design stores and experience-driven offerings. The new section of the mall is slated to open to the public in 2021. URW’s mall-wide renovation program will include a new pedestrian gallery connecting the property’s Macy’s store and its Pottery Barn and Nordstrom wings. The gallery is …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts