Retailers

ArizonaDevelopmentGrocery-anchoredNewsRetailers

Sprouts Farmers Market to Anchor 75,000-Square-Foot Sonoran Creek Marketplace Near Phoenix

by Alex Tostado

Maricopa, Ariz. — Thompson Thrift Retail Group, a wholly owned company of Indianapolis-based Thompson Thrift, has inked a deal for Sprouts Farmers Market to anchor Sonoran Creek Marketplace, the company’s $30 million retail center under development in Maricopa. The Phoenix-based specialty grocery chain is expected to open its 23,293-square-foot location in September 2021. Situated on 14 acres at the intersection of John Wayne Parkway and Edison Road, Sonoran Creek Marketplace will feature 75,000 square feet of retail and restaurant space. Additional recently signed tenants include The Joint Chiropractic, State Farm …

Continue Reading
0 FacebookTwitterLinkedinEmail
IllinoisInvestment salesNewsRetailers

Marcus & Millichap Brokers $5.1 Million Sale of 7-Eleven Property in Metro Chicago

by Alex Tostado

Alsip, Ill. — Marcus & Millichap has brokered the $5.1 million sale of a 4,000-square-foot property occupied by 7-Eleven in Alsip, a southern suburb of Chicago. The build-to-suit property is located on 127th Street. The tenant has a 15-year lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a local developer. The duo also secured and represented the buyer, an out-of-state investor completing a 1031 exchange.

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentGrocery-anchoredMinnesotaNewsRetailers

Lunds & Byerlys to Open 51,000-Square-Foot Grocery Store at Highland Bridge Development in St. Paul

by Alex Tostado

St. Paul, Minn. — Lund Food Holdings Inc. has entered into a long-term lease agreement with developer Ryan Cos. to open a full-service Lunds & Byerlys grocery store within the Highland Bridge project in St. Paul. The 51,000-square-foot store is expected to open in 2022. It will offer an extensive selection of prepared foods, specialty products and two levels of covered parking. The store will anchor a building with 230 apartment units. The existing Lunds & Byerlys store at 2128 Ford Parkway will remain open until the grand opening of …

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsRetailersWashington DC

Commerce Department: Retail Spending Up Slightly in August, Fourth Straight Month of Growth

by Alex Tostado

Washington, D.C. — The U.S. Commerce Department reported in its advanced estimate Wednesday morning that retail spending rose 0.6 percent on a month-over-month basis in August. Total sales for the month were $537.5 billion, up from $534.6 billion in July. This marks the fourth straight month retail sales rose since April, when sales plummeted 16.4 percent due to the coronavirus pandemic shutting down the U.S. economy in mid-March. The National Retail Federation (NRF) said it expected August numbers to slow due to federal assistance waning at the end of July, …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentNew JerseyNewsRetailers

Burlington Opens New Store at Somerville Circle Shopping Center in Raritan, New Jersey

by Alex Tostado

Raritan, N.J. — Burlington has opened a new store at Somerville Circle Shopping Center, a 150,000-square-foot property located at the intersection of Routes 202/206 and Route 28 in Raritan, about 45 miles southeast of New York City. Burlington has backfilled a space formerly occupied by Toys ‘R’ Us/Babies ‘R’ Us. Other tenants at the center include Staples, Petco, Jersey Mike’s, Burger King and Five Below. Levin Management Corp. manages the property. The square footage of the store was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
LeasingNew HampshireNewsRetailers

Home Furnishings Store Arhaus to Lease 15,000 Square Feet at Tuscan Village in Metro Boston

by Alex Tostado

Salem, N.H. — Home furnishings store Arhaus will occupy 15,000 square feet at Tuscan Village in Salem beginning spring 2021. Arhaus was founded in 1986 and operates 70 locations nationwide. The Ohio-based retailer specializes in hand-crafted furniture. Tuscan Village is a 170-acre, mixed-use development situated 30 miles north of downtown Boston. The property will span 2.8 million square feet and feature 800,000 square feet of retail space. Other announced tenants at Tuscan Village opening next spring include Williams Sonoma, Pottery Barn, Chipotle Mexican Grill and Chase Bank. Tuscan Brands founder …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNew YorkNewsRetailers

Century 21 Files for Bankruptcy, to Close All 13 Department Stores

by Alex Tostado

New York City — Century 21, a New York City-based department store chain with a 60-year operating history, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The retailer will soon begin the process of ceasing operations and will close all 13 of its stores, which are located in New York, New Jersey, Pennsylvania and Florida. The decision follows nonpayment by Century 21’s insurance providers of $175 million due under policies put in place to protect against losses stemming from business …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsRetailersWashington

Amazon to Hire 100,000 Workers Across U.S., Canada to Meet Continued E-Commerce Demands

by Alex Tostado

Seattle — Amazon (NASDAQ: AMZN) has announced plans to hire an additional 100,000 full- and part-time employees throughout the United States and Canada. This plan is in addition to the 33,000 new corporate and technology jobs announced last week. The roles offer a starting wage of at least $15 per hour, and in select cities, Amazon is offering sign-on bonuses up to $1,000 to new hires. The new employees will staff the 100 new operations buildings that Amazon is opening this month across its fulfillment centers, delivery stations and other …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsGrocery-anchoredNewsOhioRetailers

Kroger’s Digital Sales Surge 127 Percent in Second Quarter

by Alex Tostado

Cincinnati — The Kroger Co. (NYSE: KR) has reported that its digital sales surged 127 percent in the second quarter, which ended Aug. 15. Consumers have been buying more groceries online as a result of the coronavirus. “Investments made to expand the company’s digital ecosystem are resonating well with customers,” says Rodney McMullen, chairman and CEO. In addition, the Cincinnati-based grocer’s operating profit of $820 million was up 43 percent compared with the same period a year ago. Total company sales were $30.5 billion in the second quarter, compared with …

Continue Reading
0 FacebookTwitterLinkedinEmail
FloridaInvestment salesNewsRetailers

TSCG Brokers Sale of Grocery-Anchored Shopping Center in Southeast Orlando

by Alex Tostado

Orlando, Fla. — TSCG has arranged the sale of The Shoppes at South Semoran, a 101,611-square-foot shopping center in Orlando. The property was originally built in 1986 and renovated in 2013, when anchor Walmart Neighborhood Market opened. At the time of sale, the property was 97 percent leased to tenants including Walmart, Chase Bank, Dollar Tree and Wendy’s. The asset is situated at 4520 S. Semoran Blvd., seven miles southeast of downtown Orlando. Anthony Blanco, Lenard Williams, Mallory Silva and Gavin Walsh of TSCG represented the seller, an affiliate of …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts