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Cushman & Wakefield Arranges $100 Million Refinancing for Grocery-Anchored Retail Center Portfolio

by Hayden Spiess

Austin, Texas — Cushman & Wakefield has arranged $100 million in refinancing for a portfolio of grocery-anchored retail centers on behalf of the borrower, Austin-based Epic Real Estate Partners. Totaling 625,000 square feet, the portfolio includes Eagan Towne Center in Eagan, Minnesota; Ventana Village in Tucson, Arizona; Preston Trail Village in Dallas; Kauai Village in Kapa’a, Hawaii; and Cobbler Crossing in Elgin, Illinois. The properties, which were 93.2 percent leased at the time of sale, are anchored by Cub Foods, Kroger, Bashas, Safeway and Jewel Osco. Beth Lambert, Chase Johnson, Caleb …

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LeasingMixed-useNewsTexas

Seven Tenants Join Work/Shop Mixed-Use Development in Dallas

by Hayden Spiess

Dallas — Seven new tenants have joined the lineup at Work/Shop, a 12-acre mixed-use development located in Dallas. Triten Real Estate is the developer and landlord of the property, which features 81,500 square feet of retail space, in addition to office and green space. EVO Entertainment Prestonwood opened at the development in November, and Local Jonny’s, MAI (My Aesthetics Intelligence), Rose Couture Nail Bar and [solidcore] are scheduled to open later this year. Toast and juice bar Toastique is also scheduled to open at the property in February, and eatery Crisp …

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LeasingNewsTexas

American Girl to Open 14,720-Square-Foot Store in Dallas

by Hayden Spiess

Dallas — American Girl will open a 14,720-square-foot store next month at The Shops at Park Lane, a 33.5-acre mixed-use development in Dallas. In addition to the full range of American Girl dolls and accessories, the two-level store will feature a full-service café. Northwood Retail owns and operates The Shops at Park Lane. 

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Investment salesNewsTexas

Cohen & Steers, Sterling Acquire Portion of the Marketplace at Highland Village in Dallas 

by Hayden Spiess

Dallas — A joint venture between Cohen & Steers Income Opportunities REIT and Sterling Organization has acquired a portion of the Marketplace at Highland Village, a 451,000-square-foot shopping center located in Dallas. The acquired segment of the property spans 207,000 square feet and was 93 percent occupied at the time of sale by tenants including T.J. Maxx, HomeGoods, LA Fitness, DSW and Petco. The remaining portion of the center is occupied by a corporately owned Walmart Supercenter.

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CaliforniaCompany newsDevelopmentGeorgiaMarylandNewsPennsylvaniaTexas

IKEA to Open Four New-Format Stores in 2024

by Hayden Spiess

Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …

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Company newsDevelopmentLeasingNewsRestaurantsTexas

Smalls Sliders to Open Five Restaurants in Metro Dallas

by Hayden Spiess

Dallas — Cheeseburger concept Smalls Sliders has signed an agreement with hospitality group Om Texas to open five restaurants, dubbed “Cans,” in metro Dallas. This marks the second multi-unit franchise deal in the city for the brand. Potential locations include Mesquite, Garland, Rockwall, Greenville, Murphy, Rowlett and Richardson, with the first store scheduled to open in the fourth quarter of 2024. Smalls Sliders opened its first Can in 2019 and currently has more than 160 restaurants open or under development.

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Grocery-anchoredInvestment salesNewsTexas

YPI Acquires 147,161-Square-Foot Retail Center in Metro Dallas

by Hayden Spiess

Midlothian, Texas — Younger Partners Investments (YPI) has acquired Midlothian Towne Crossing, a 147,161-square-foot retail center located in Midlothian, roughly 25 miles south of Dallas. Kroger anchors the property, which was 99 percent leased at the time of sale. Other tenants include Ross Dress for Less, Burkes Outlet, JOANN Fabric and Crafts, Petco, Ulta Beauty and Famous Footwear. Out-lot parcels at the center feature restaurants including Chick-fil-A, McDonald’s and Chili’s. 

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GBT to Develop 42,000-Square-Foot Grocery-Anchored Shopping Center in Texas

by Hayden Spiess

Kyle, Texas — GBT Realty Corp. has announced plans for the development of a 42,000-square-foot shopping center in Kyle, approximately 20 miles outside Austin. A 23,250-square-foot Sprouts Farmers Market will anchor the property, which will be situated within the 2,200-acre Plum Creek master-planned community. Dubbed Shops at The Brick and Mortar District, the center will include an additional 18,500 square feet across three buildings. GBT acquired the five-acre development site in 2023 for $3.2 million and is currently underway on site work. Vertical construction is scheduled to begin this quarter, and …

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Company newsNewsRestaurantsTexas

TGI Fridays to Close 36 Restaurants

by Hayden Spiess

Dallas — TGI Fridays has announced plans to close 36 restaurants in markets throughout the country. The stores were designated “underperforming” in a press release issued by the Texas-based company. “We’ve identified opportunities to optimize and streamline our operations,” says Ray Risley, U.S. president and chief operating officer of TGI Fridays. Currently the brand operates more than 650 restaurants in 51 countries. 

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DevelopmentNewsRestaurantsTexas

Emmer & Rye to Open 40,000-Square-Foot Culinary Market at The Pearl in San Antonio

by Hayden Spiess

San Antonio — Emmer & Rye Hospitality Group will open a 40,000-square-foot culinary market within the Pearl mixed-use district in San Antonio. Dubbed Pullman Market and scheduled to open in spring 2024, the property will feature four full-service restaurants, as well as fast-casual concepts, an artisan butcher and fishmonger program, beer and wine, local produce and specialties and a seasonal bakery and fresh pasta program. Food-and-beverage concepts within the market will include Fife & Farro, Mezquite, Isidore and Nicosi. 

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