Retailers

Six New Retailers Confirmed for $500 Million Easton Town Center Expansion in Ohio

by Alex Tostado July 15, 2019

Columbus, Ohio — Six new retailers have been confirmed as part of the $500 million expansion of Easton Town Center in Columbus. The retailers include Ivan Kane’s Forty Deuce Café & Speakeasy, Arhaus Furniture, Pins Mechanical Co., The Beeline, Forbidden Root Restaurant and Brewery and Crimson Cup Coffee & Tea. At Forty Deuce, the ground floor will include a café serving burgers and desserts while the upstairs will incorporate a hidden speakeasy. The new Arhaus store will span 17,500 square feet. Ohio-based Pins Mechanical has already opened with 30,000 square …

July 15, 2019

Finance Georgia Investment sales News Retailers

Cohen Financial Secures $17.1 Million Acquisition Loan for New Retail Center Near Savannah

by Alex Tostado July 15, 2019

Hinesville, Ga. — Cohen Financial, a division of SunTrust Bank, has arranged a $17.1 million acquisition loan for Oglethorpe Square in Hinesville. Goldman Sachs provided the 10-year loan to an undisclosed borrower. Situated about 40 miles southwest of downtown Savannah, the 158,000-square-foot Oglethorpe Square, which Hutton completed in March 2017, is a fully leased retail center with tenants including Dick’s Sporting Goods, Hobby Lobby, T.J. Maxx and Ulta Beauty. The seller was not disclosed.

July 15, 2019

Investment sales Nevada News Retailers

Newmark Knight Frank Negotiates $6.4 Million Sale of Cornet Plaza Retail Center in Las Vegas

by Alex Tostado July 15, 2019

Las Vegas — Newmark Knight Frank has arranged the sale of Cornet Plaza in Las Vegas. Cornet Plaza LLC sold the asset to C&C Elliot Street LP for $6.4 million. Located at 771 E. Horizon Drive, the shopping center features 26,888 square feet of space. Tenants include Capriotti’s, Papa John’s and Hammers Grill & Bar. Michael Zobrist and Nelson Tressler of Newmark Knight Frank represented the seller in the deal.

July 15, 2019

Illinois Investment sales News Retailers

Matanky Negotiates Sale of 102,647-Square-Foot Shopping Center in Federal Opportunity Zone in Park Forest, Illinois

by Alex Tostado July 12, 2019

Park Forest, Ill. — Matanky Realty Group has negotiated the sale of a 102,647-square-foot shopping center located at 80-138 S. Orchard Drive in Park Forest, south of Chicago. Freedom Development Group purchased the three-building property for an undisclosed price. The Family Dollar-anchored center includes a grocery store and auto repair center. The buyer was attracted to the site due to its location within a federal Opportunity Zone, according to Matanky. Terri Cox and Don Wagener of Matanky brokered the transaction.

July 12, 2019

Investment sales News Oregon Retailers

Hone Investments Sells Walgreens-Occupied Property in Central Oregon for $5.7 Million

by Alex Tostado July 12, 2019

Cottage Grove, Ore. — Hone Investments has completed the disposition of a retail asset located at 1074 E. Main St. in Cottage Grove in Central Oregon. West Plaza LLC bought the property for $5.7 million. Walgreens occupies the 14,820-square-foot retail property with 15 years remaining on its existing long-term lease. Jon Busse and David Kotansky of Colliers International San Diego Region represented the seller, while Jeff Miller of First Commercial Real Estate Services represented the buyer in the deal.

July 12, 2019

Investment sales Michigan News Retailers

Marcus & Millichap Arranges $5.7 Million Sale of Retail Center in Metro Detroit

by Alex Tostado July 12, 2019

Woodhaven, Mich. — Marcus & Millichap has arranged the sale of Woodhaven Village Square for $5.7 million. The 50,414-square-foot retail center is located in Woodhaven, a southern suburb of Detroit. The property is fully leased to Michaels, PetSmart, Cato and Dance Nation. Ashish Vakhariya and Seth Haron of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not disclosed.

July 12, 2019

California Company news News Retailers

URW to Launch Three New Solar Projects in the U.S.

by Alex Tostado July 10, 2019

Los Angeles — Unibail-Rodamco-Westfield (URW), a premier global developer and operator of flagship shopping destinations, has revealed details of its global Corporate Social Responsibility (CSR) program — the most ambitious of its kind for a listed retail real estate company. Called “Better Places 2030,” the CSR program will now formally extend to the United States and the United Kingdom, which were a part of the acquisition of Westfield by Unibail-Rodamco last year. Broadly, the program commits URW to reduce its total carbon footprint 50 percent by the year 2030 across every …

July 10, 2019

Features New York Retailers SCBlog

Reis: National Retail Vacancy Experiences First Drop Since 2016

by Alex Tostado July 9, 2019

New York City — The national retail vacancy rate fell 10 basis points to 10.1 percent in the second quarter, according to New York City-based commercial real estate data firm Reis. This is the first time in which vacancy has declined since the first quarter of 2016. For context, in the second quarter of 2018, the rate had risen 20 basis points to 10.2 percent and remained flat at that rate through the first quarter of this year. The tightening of available space is in contrast to the larger talking …

July 9, 2019

Finance Florida Malls News Retailers

Bal Harbour Shops To Expand by 300,000 Square Feet

by Alex Tostado July 9, 2019

Miami Beach, Fla. — Whitman Family Development is planning a 300,000-square-foot expansion of Bal Harbour Shops, including a new Barneys New York location and three-story promenade. The company has received $550 million in financing to expand the iconic center in Miami Beach. The 463,114-square-foot mall is home to anchors Saks Fifth Avenue and Neiman Marcus. Miami-based Whitman Family Development will use $150 million of the loan to pay off an existing loan and $400 million to expand the center by 300,000 square feet, bringing the total to 763,114 square feet. …

July 9, 2019

Investment sales News Retailers Texas

Baceline Purchases Two DFW Retail Centers Totaling 109,145 Square Feet

by Alex Tostado July 9, 2019

Dallas and Arlington, Texas — Denver-based investment and management firm Baceline Investments has purchased two retail centers totaling 109,145 square feet in Dallas and Arlington. The properties include Cooper Street Marketplace, a 75,974-square-foot, multi-tenant shopping center in Arlington; and Tarrant Parkway, a 33,171-square-foot property in Dallas. The assets were acquired in conjunction with a 71,602-square-foot center in Indianapolis. The seller was not disclosed. Baceline now owns more than 2 million square feet of retail space across 15 states, a portfolio that has an occupancy rate of 91 percent.

July 9, 2019

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