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Westgate Shopping Center
Investment salesNewsOhioPower centers

JLL Facilitates $51.5 Million Sale of Westgate Shopping Center in Suburban Cleveland

by Abby Cox

Fairview Park, Ohio — JLL Capital Markets has facilitated the $51.5 million sale of Westgate Shopping Center, a 311,440-square-foot regional power center located in the Cleveland suburb of Fairview Park. Originally built in the mid-1950s and renovated in 2007, Westgate Shopping Center sits on 55 acres. Target, Lowe’s, Kohl’s, Planet Fitness, Petco, Marshalls and Ulta Beauty anchor the center, which was 97.2 percent leased at the time of sale. Other tenants at the property include Bath & Body Works, Five Guys, Jersey Mike’s, Club Pilates, The Joint, Great Clips and …

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Superstition Gateway Shopping Center
ArizonaInvestment salesNewsPower centers

Desert Troon Sells Superstition Gateway Shopping Center in Mesa, Arizona for $121 Million 

by Abby Cox

Mesa, Ariz. — Desert Troon Cos. has sold Superstition Gateway Shopping Center, a 495,000-square-foot retail power center located in Mesa, for $121 million. Situated on 65.7 acres at the southwest corner of U.S. Highway 60 and Signal Butte Road, the center was constructed in 2006 and 2012 and comprises 19 individual parcels. Current tenants at the property — which was 90 percent leased at the time of sale — include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress For Less, Marshalls, Five Below, PetSmart, Panera Bread, …

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Investment salesNewsPower centersTexas

Kobalt Investment, Retail Connection Acquires 275,477-Square-Foot Retail Power Center in Sherman, Texas

by Abby Cox

Sherman, Texas — A partnership between Kobalt Investment Co. and The Retail Connection have acquired Sherman Commons, a 275,477-square-foot retail power center located in Sherman, roughly 40 miles north of the Dallas-Fort Worth metro. The acquisition also includes two vacant outparcels for future development. Kohl’s, Academy Sports + Outdoors, Five Below, Ulta Beauty, Office Depot and PetSmart anchors the property, which was 98 percent leased at the time of sale.

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Harvest Park Centre
Investment salesNewsPower centersTennessee

Halpern Enterprises Acquires 166,035-Square-Foot Retail Power Center in Knoxville, Tennessee

by Abby Cox

Knoxville, Tenn. — Atlanta-based Halpern Enterprises Inc. has acquired Harvest Park Centre, a 166,035-square-foot retail power center located in Knoxville. Marshalls, Ross Dress For Less and Five Below anchor the center, which was 97 percent leased at the time of sale. Additional retailers at the property include Old Navy, Ulta Beauty, Bath & Body Works, AT&T, Sports Clips and Sally Beauty Supply. Harvest Park Centre marks the firm’s second retail acquisition in Tennessee. Berkeley Capital Advisors represented the seller in the transaction.

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Commons at Willowbrook
DevelopmentNewsPower centersTexas

Willowbrook Begins Renovation of 441,000-Square-Foot Retail Power Center in Northwest Houston

by Abby Cox

Houston — Willowbrook LLC is underway with the renovation of Commons at Willowbrook, a 441,000-square-foot regional power center located in northwest Houston. The capital improvement program includes installing new monument signage and pylons, widening the main access point and updating the landscape design. Situated on 39 acres, the center is currently 85 percent leased to tenants such as Marshalls, HomeGoods, Ross Dress For Less, Michaels, Total Wine & More, Ulta Beauty, DSW and Daiso. Vincent O’Toole of Avison Young will lead leasing efforts for the property.

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The Promenade Scottsdale
ArizonaLeasingNewsPower centers

Vestar Signs Leases with 10 New Tenants at The Promenade Scottsdale

by Abby Cox

Scottsdale, Ariz. — Vestar has signed leases with 10 new tenants at The Promenade Scottsdale, a 1-million-square-foot retail center located in the Phoenix suburb of Scottsdale. Retail and restaurant concepts including Fan Outfitters, J. Crew, Pvolve and Kura Sushi are now open at the center. IKEA, Sugar Sugar, The Wallpaper Co., DXL and Pella Windows are also scheduled to open at the center before the end of the year. Additionally, existing tenant Cox has expanded its space at the property to occupy an additional 3,852 square feet. Vestar manages the …

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FloridaInvestment salesNewsPower centers

Sagard Real Estate Sells 335,995-Square-Foot Retail Power Center in Altamonte Springs, Florida

by Abby Cox

Altamonte Springs, Fla. — Denver-based Sagard Real Estate (formerly Everwest Real Estate Investors) has sold Marketplace at Altamonte, a 335,995-square-foot retail center located in Altamonte, roughly 16 miles outside Orlando. According to the Orlando Business Journal, an entity associated with Centro Property Management LLC, purchased the property for $28.9 million from Sagard’s core equity fund. The center was 55 percent occupied at the time of sale with tenants including Burlington, Ross Dress for Less and Total Wine & More. Sagard originally acquired the center in 2005.

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Jonathan Lapat SRS Retail Locations Quote from article
Content PartnersDevelopmentFeaturesFinanceIndustry ContentLeasingMallsPower centersRestaurantsRetailers

Restaurants Execute Expansion Plans with Measured Approaches

by Sarah Daniels

To say that the restaurant industry is sending mixed signals could be the understatement of the year. The National Restaurant Association expected restaurant sales in 2024 to top $1 trillion for the first time ever. But as the year has progressed, the number of operators who anticipated sales growth in the coming months dipped to 28 percent in August from 40 percent in April amid inflation and economic uncertainty, according to the organization’s latest performance index survey. At the same time, the fortunes of the major restaurant segments are largely …

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Content PartnersFeaturesFinanceLeasingPower centersRestaurantsRetail InsightRetailersVideos

Broad Reach: Revitalizing Shopping Centers, Strategies for Addressing Retail Trends

by Sarah Daniels

  At the ICSC LAS VEGAS 2024 conference, Nellie Day from Retail Insight spoke with Nate Tower, president and founder of Broad Reach Retail Partners, to explore the evolving landscape of retail and upcoming trends in the space. Broad Reach Retail Partners focuses on revitalizing underperforming shopping centers via a holistic, full-cycle approach that considers leasing, management, construction and acquisition. Tower emphasizes the importance of assessing a matrix of key performance indicators (KPIs) — including capital requirements, tenant mix and market demographics — to develop and execute effective business plans …

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Content PartnersFeaturesLeasingMallsMarketingOperationsPower centersRestaurantsRetail InsightRetailersVideos

NewMark Merrill: Harness Retail Data to Improve Customer Experience, Streamline Operations

by Sarah Daniels

  Sandy Sigal argues that the evolving fields of automation and artificial intelligence (AI) are a perfect fit for retail. “We generate the most relevant data on an everyday basis, and that data affects the outcomes and success of our centers,” explains Sigal. In a discussion on the pivotal role of technology in the retail sector, Sigal emphasizes that understanding customer behavior is paramount for shopping center owners. By leveraging technology to track customer movement and sentiment — where they come from, how long they stay, how they feel about …

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