San Diego — San Diego-based Jack in the Box has announced plans to open 15 restaurants in Georgia, marking the first entry into the state for the fast-casual brand. New sites have not yet been selected, but plans include a focus on the Macon, Augusta and Savannah markets. A franchisee will own and operate the restaurants. Jack in the Box also recently announced a commitment to 30 new units in Florida.
Merced, Calif. — Matthews Real Estate Investment Services has arranged the sale of 3110 R Street, a retail center located in the San Joaquin Valley city of Merced. An undisclosed buyer purchased the property for $5.8 million. Tenants at the center include Chipotle Mexican Grill and Panera Bread, which occupy end-cap storefronts. Chipotle recently extended its lease for an additional 10 years. Clay Smith of Matthews represented the seller in the transaction.
Massillon, Ohio — Legacy Realty Group Advisors has brokered the $5.2 million sale of Amherst Shopping Center, a 146,880-square-foot retail center located in Massillon. Marc’s and Dollar General anchor the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.
Dallas — Netflix will open an entertainment venue within an anchor space at Galleria Dallas, a 1.9. million-square-foot shopping center in Dallas. Dubbed Netflix House, the establishment will feature immersive experiences, retail and food-and-beverage offerings. Construction is currently underway on two floors of the property to house the venue, which is scheduled to open in fall 2025. According to a statement on the Netflix company website, an additional Netflix House will open in King of Prussia, Pennsylvania, with both venues encompassing more than 100,000 square feet. MetLife Investment Management owns Galleria …
Mid-America Brokers Sale of 116,135-Square-Foot Silvernail Plaza Shopping Center in Milwaukee Suburb
Waukesha, Wis. — Mid-America Real Estate Corp. has brokered the sale of Silvernail Plaza, a 116,135-square-foot shopping center in the western Milwaukee suburb of Waukesha. Tenants at the property include grocer Metro Market and Dollar Tree. Outlots leased to Wendy’s, Arby’s and Firestone were included in the sale. Rick Drogosz, Dan Rosenfeld and Scott Satula of Mid-America represented the seller, United Properties. Essential Growth Properties was the buyer.
Bellefont, Pa. — Marcus & Millichap has arranged the $10.1 million sale of a retail building located in Bellefont. Giant Food occupies the property, which was constructed in 2022 as part of Paradise Shopping Center, on a net-lease basis. Dean Zang, Brad Nathanson and David Crotts of Marcus & Millichap represented the seller, a Pennsylvania-based developer, in the transaction. JRW Realty represented the buyer, an affiliate of Exchange Right.
Houston — Five new retailers and restaurants have opened at Post Oak Plaza, a 503,000-square-foot shopping center in Houston. Luxury mattress retailer Saatva and appliance provider Bosch/Thermador/Gaggenau have opened a 4,000-square-foot store and 14,777-square-foot showroom, respectively. Additionally, restaurants Local Foods (3,016 square feet), Tacodeli (2,883 square feet) and Rakkan Ramen (1,856 square feet) are now open. Levcor is the owner and landlord.
Northbrook, Ill. — Pine Tree, in partnership with a state pension fund, has purchased six open-air shopping centers from SITE Centers Corp. (NYSE: SITC) for $495 million. The portfolio comprises 2.5 million square feet and feature properties in metros including Fort Lauderdale, Florida; Columbus, Ohio; Cincinnati; Phoenix; and Portland, Oregon. The properties included in the portfolio are: The portfolio’s retail anchors include Kroger, New Seasons Market, The Fresh Market, Target, Ulta Beauty, Nordstrom Rack, Dick’s Sporting Goods and 13 stores leased by TJX Cos. Pine Tree is a retail developer and …
Wheaton, Ill. — Core Acquisitions has purchased Rice Lake Square, a 251,584-square-foot shopping center located in the Chicago suburb of Wheaton, for $34.2 million. Developed in 1989 and renovated in 2011 and 2019, the property is anchored by Pete’s Fresh Market, Studio Movie Grill and PetSmart. Additional tenants at the center, which was 76 percent leased at the time of sale, include Massage Envy, Orangetheory Fitness, Potbelly Sandwich Shop, Men’s Wearhouse, Xfinity and Taco Bell. Rick Drogosz of Mid-America Real Estate Corp. represented the undisclosed seller in the transaction. Old National …
Dunwoody and Marietta, Ga. — Walmart has announced plans to close two stores located in metro Atlanta. A Walmart Supercenter in Dunwoody, Georgia, and Walmart Neighborhood Market in Marietta, Georgia, will close on July 12. According to a statement from the company, which operates 213 Walmart and Sam’s Clubs stores in the state, there are no additional closures planned at this time.