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Woodmont Co. to Develop 15,000-Square-Foot Retail Center in Grayslake, Illinois

by Alex Tostado

Grayslake, Ill. — The Woodmont Company has unveiled plans to develop a 15,000-square-foot retail center in Grayslake, located 50 miles north of downtown Chicago. Known as Washington & Barron Commons, the four-building property will be situated at the corner of Washington Street and Barron Boulevard. Construction on Phase I is expected to begin this summer. Phase I will include a 9,000-square-foot building for Kiddie Academy and a 4,500-square-foot single-tenant building. Phase II will include an 8,000-square-foot multi-tenant building as well as a 3,000-square-foot single-tenant building. Grant Gary and Robert Snider …

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Investment salesNewsRetailersTexas

REATA, Stonefield Acquire 173,041-Square-Foot Shopping Center in San Antonio

by Alex Tostado

San Antonio — A joint venture between REATA Real Estate Services and Stonefield Investment Advisors has acquired Brooks Corner Shopping Center, a 173,041-square-foot retail power center located in San Antonio. The property was built in 2005 and was 96 percent leased at the time of sale to an array of national tenants, including Ross Dress for Less, Petco, Conn’s HomePlus and Dollar Tree. Brooks Corner is also shadow-anchored by H-E-B, The Home Depot and Target. The seller was InvenTrust Properties, an Illinois-based retail REIT. The sales price was not disclosed. …

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Company newsEntertainmentIllinoisNews

Cushman & Wakefield Launches Sports & Entertainment Advisory Group

by Alex Tostado

Chicago — Cushman & Wakefield has established a new Sports & Entertainment Advisory Group to provide solutions for designing, building, financing, operating and maximizing revenue streams for athletic and entertainment venues. The new S&E Advisory Group includes partnerships with industry leaders such as Chicago-based sports and entertainment marketing firm W Partners. The group will serve sports franchise owners, local governments and municipalities, private owners of entertainment venues and public and private universities. It will also provide advisory services for arenas, stadiums, adjacent retail and entertainment complexes, amphitheaters, convention centers, motorsports …

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DevelopmentEntertainmentNewsTexas

PINSTACK to Open 50,000-Square-Foot Entertainment Venue in Austin

by Alex Tostado

Austin, Texas — PINSTACK — an entertainment concept that combines bowling with other activities, as well as food and beverages — will open a 50,000-square-foot venue at Tech Ridge Center in Austin. This will be the first location outside of the Dallas-Fort Worth metroplex for PINSTACK, which is owned by Entertainment Properties Group Inc. In addition to bowling, the Austin center will offer a rock-climbing wall, virtual reality games, laser tag, bumper cars and a ropes course, as well as a chef-driven menu featuring craft cocktails, wine and draft beer. …

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FeaturesNorth CarolinaRetailersSouth Carolina

Grocers leading the charge as retailers are attracted to Carolinas’ job, population growth

by Alex Tostado

From the Charlotte metro area to Raleigh-Durham and back down to Upstate South Carolina and Charleston, North and South Carolina are quickly becoming the top choices for retail developers, owners and consumers, leading retail industry experts say. With new residents moving to the two-state region’s metro areas, grocers are moving in where they can. Raleigh has seen Harris Teeter expand, and Wegmans and Publix enter the market. Costco and Publix are expanding in Charleston. In Upstate South Carolina, Lowes Food and Sprouts Farmers Market are opening their doors to new …

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Company newsNewsRestaurantsTexas

Chuck E. Cheese to Trade on New York Stock Exchange Following $1.4 Billion Merger

by Alex Tostado

Irving, Texas — Following a merger with the parent company of the Chuck E. Cheese brand, London-based Leo Holdings Corp. plans to rebrand itself and take the new company public on the New York Stock Exchange (NYSE) under the ticker symbol “CEC.” The enterprise value of the combined company, which will be known as Chuck E. Cheese Brands Inc., is estimated at $1.4 billion. Leo Holdings, which is self-described as a special purpose acquisition firm, has entered into a “definitive business combination agreement” with Queso Holdings Corp., which is the …

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Grocery-anchoredInvestment salesMarylandNews

Neuman Commercial Arranges $18.2 Million Sale of Grocery-Anchored Shopping Center in Baltimore

by Alex Tostado

Baltimore — Neuman Commercial Group has arranged the $18.2 million sale of Alameda Marketplace, a 124,000-square-foot shopping center anchored by Shoppers Food in Baltimore. The asset was 90 percent leased at the time of the sale to 15 tenants including Walgreens, Family Dollar, Rent-A-Center, Planet Fitness, Fresenius Medical, Rainbow and Bank of America. Gil Neuman of Neuman Commercial represented the sellers, Atlantic Realty Co. and Walton Street Capital, in the transaction. The buyer was a private regional investment group. This is the second time that Neuman Commercial has represented the …

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Investment salesNewsRetailersTexas

Tryperion Partners Sells 136,553-Square-Foot Retail Center in Metro San Antonio

by Alex Tostado

Live Oak, Texas — Tryperion Partners has sold Gateway Plaza, a 136,553-square-foot retail center in Live Oak, 17 miles northeast of downtown San Antonio. The Burlington-anchored property was 98 percent leased at the time of the sale to tenants including Goodwill, Laser Legend, Furniture Now, James Avery Craftsman and Great Clips. Nooner Holdings purchased the asset, which was built in 2008 and sits on 13.7 acres. John Taylor, Drew Fuller, Josh Villarreal and Kyle Shaffer of HFF represented the seller in the transaction.

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CaliforniaInvestment salesNewsRestaurants

Hanley Investment Group Arranges $3.5 Million Sale of Raising Cane’s Location in Southern California

by Alex Tostado

Fontana, Calif. — Hanley Investment Group has arranged the $3.5 million sale of a single-tenant building situated within a Sprouts Farmers Market-anchored retail center in Fontana, California. The 3,233-square-foot property is fully leased to a Raising Cane’s Chicken Fingers restaurant, which opened in February. Other tenants at Highland Village shopping center include Jack in the Box, Burgerim, Jersey Mike’s, Oggi’s Restaurant, Mountain View Tires, Pacific Dental and Quick Quack Car Wash. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments Inc., in the transaction. …

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Investment salesNew YorkNewsRetailers

Cushman & Wakefield Arranges $2 Million Sale of Retail Property in Queens

by Alex Tostado

New York City — Cushman & Wakefield has arranged the $2 million sale of a retail property in Astoria, Queens. Located at 31-79 Steinway St., the 2,250-square-foot property is a single-story retail building with a full basement. The property offers an additional 4,500 square feet of air rights for future development. Stephen Preuss and Andreas Efthymiou of Cushman & Wakefield represented the seller, Steinway Sports & Recreation Center Inc., in the transaction. The buyer was ABS Partners Real Estate, a locally based investment firm.

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