Jasper, Texas — Midwest Retail Properties (MRP) has acquired Jasper Plaza, a 13,520-square-foot retail center in Jasper, located north of Beaumont near the Texas-Louisiana border. The property is situated off Highway 190, next to Lowe’s Home Improvement store and directly in front of a Walmart Supercenter. MRP acquired the center as part of a portfolio of two other retail properties in Boaz, Alabama, and Jacksonville, Texas. The seller was not disclosed.
Plano, Texas — J.C. Penney has drafted and filed an asset purchase agreement (APA), effectively moving the Plano-based retailer one step closer to concluding negotiations for its acquisition by Brookfield Asset Management and Simon Property Group, a $1.75 billion deal that was announced in September. J.C. Penney CEO Jill Soltau described this filing as “another important milestone in our restructuring plan” that should help the company shed its Chapter 11 bankruptcy status in time for the holiday shopping season. A hearing to seek court approval for the transaction is expected …
Sugar Land, Texas — A development team by Houston-based Lionstone Investments will renovate Sugar Land Town Square, a 1.4 million-square-foot mixed-use destination located on the southwestern outskirts of Houston. Lionstone is partnering with Dallas-based creative real estate firm Rebees and Planned Community Developers on the project, which will upgrade landscaping and outdoor common areas to allow for social distancing and more public seating as part of Phase I. In addition, the team will add new signage and tenant storefronts and revamp the tenant roster to include local entrepreneurs with original …
Houston — Pittsburgh-based Dick’s Sporting Goods will open a new, 45,198-square-foot store at Copperfield Marketplace, located at 16343 FM 259 Road in Houston. The grand opening will take place from Friday, Oct. 23 to Sunday, Oct. 25. Dick’s Sporting Goods will join Burlington and Med Express as the other anchors at the center, which is owned by Fidelis Realty Partners.
Georgetown, Texas — Sport Clips Haircuts has reopened 98 percent of its more than 1,800 locations in the U.S. and Canada, the Georgetown-based company reports. At the onset of the pandemic, Sport Clips sent out a letter to landlords saying it would waive franchise agreement fees for franchisees in an attempt to make paying rent more feasible. By paying more than $300,000 in rent for 69 company-owned locations in Texas, Arkansas, Nevada and Oklahoma, Sport Clips was able to prioritize tools and resources for franchisees. “Few times does a company get the opportunity to truly …
Dallas — Dave & Buster’s (NASDAQ: PLAY) reported an 85 percent drop in total revenue for the second quarter relative to that period a year, prompting several media organizations, including The Wall Street Journal, to report that bankruptcy filings may be imminent. Comparable store sales decreased by 87 percent during the second quarter, which saw the Dallas-based entertainment chain gradually reopen its venues. About 90 of Dave & Buster’s 137 locations are currently open for business across 27 states. Multiple news outlets, including The New York Post, have also reported that Dave & …
Grand Prairie, Texas — Chicken N Pickle, an entertainment concept that pairs the food and drink of a chef-driven restaurant with pickleball and other games, will open a restaurant and entertainment venue in the central metroplex city of Grand Prairie. The venue, which is scheduled to open in 2021, will feature indoor and outdoor pickleball courts, lawn games, a rooftop bar and a full-service restaurant. Chicken N Pickle Grand Prairie will also offer clinics for players of all experience levels, as well as professional and amateur tournaments. The company is …
Lake Worth, Texas and Tooele, Utah — Faris Lee Investments has arranged the sale of two Walgreens-leased properties for a total of $11.1 million. The first property is a 13,548-square-foot Walgreens located at 6244 Lake Worth Blvd., 40 miles west of downtown Dallas. Walgreens recently signed a new triple net lease, featuring a 15-year term with 12 five-year renewal options. The lease also has a 5 percent rent increase every five years for the duration of the initial term. The second property, a 14,762-square-foot Walgreens situated at 188 N. Main …
Fort Worth, Texas — Studio Movie Grill will open a 12-screen theater Friday, Aug. 28 at The Shops at Chisholm Trail Ranch, a 250,000-square-foot retail center by StreetLevel Investments in Fort Worth. The 40,000-square-foot venue will be the company’s first in Fort Worth and 14th in Texas. The theater will open at 50 percent of its designated capacity and will offer a variety of food and beverage options.
Fort Worth, Texas — Dallas-based developer StreetLevel Investments has opened the 250,000-square-foot Shops at Chisholm Trail Ranch retail power center in Fort Worth. Specific stores that have opened at the center, which is 90 percent leased, include Ross Dress for Less, Old Navy, Ulta Beauty, Five Below, Tuesday Morning, AT&T, Sprint and others. Restaurants now open include Chick-fil-A, Whataburger and MOD Pizza. The 40,000-square-foot Studio Movie Grill is expected to open at the end of summer.