Retailers

Parent Company of T.J. Maxx, Marshalls Closes All Stores, Distribution Centers for Two Weeks

by Alex Tostado March 20, 2020

Framingham, Mass. — TJX Cos., the Framingham-Mass.-based parent company of T.J. Maxx, HomeGoods and Marshalls, has closed all stores under its brands for two weeks in response to the coronavirus outbreak, according to a statement from company CEO and president Ernie Herrman. In addition to T.J. Maxx (approximately 1,200 stores in the United States), HomeGoods (700) and Marshalls (1,000), the corporation also owns Sierra and Homesense, which have a combined 43 stores in the United States. TJX will also be closing all of its online businesses, distribution centers and offices.

March 20, 2020

Investment sales Mixed-use New Jersey News Retailers

Federal Realty Acquires Multifamily, Retail Portfolio in Hoboken for $203 Million

by Alex Tostado March 20, 2020

Hoboken, N.J. — Federal Realty Investment Trust, a Maryland-based REIT, has acquired a 39-property multifamily and retail portfolio in Hoboken for $203 million. Concentrated primarily along the Washington Street retail corridor, the portfolio includes 129 residential units and 171,959 square feet of retail space. The portfolio totals 278,879 square feet. Retail tenants include French beauty chain Sephora, CVS and several restaurants. Kevin Welsh, Brian Schulz and Dean Tselepis of Newmark Knight Frank represented the seller, a private owner. The team also procured Federal Realty as the buyer.

March 20, 2020

Company news Malls News Retailers South Carolina

United Development to Close Myrtle Beach Mall Today Until Further Notice Due to COVID-19 Outbreak

by Alex Tostado March 20, 2020

Myrtle Beach, S.C. — United Development Co. will close Myrtle Beach Mall at 7 p.m. local time today indefinitely due to growing concerns of the worldwide COVID-19 outbreak. The owner said the exterior entrances to Belk, Bass Pro Shops, Books-A-Million and JC Penney will remain open as long as those retailers continue to be open to the public. The owner also said that a deep cleaning will be initiated immediately following the closing, then again prior to the reopening. Myrtle Beach Mall is situated at 10177 N. Kings Highway, 11 …

March 20, 2020

Finance Florida News Retailers

Terra Receives $45 Million Refinancing Loan for Phase II of Shopping Center in South Florida

by Alex Tostado March 20, 2020

Pembroke Pines, Fla. — Terra City Center Investments II LLC, an entity sponsored by development firm Terra, has received a $45 million refinancing loan for Phase II of Pines City Center in Pembroke Pines. First Bank of Florida provided the loan. Terra broke ground on Phase II last year and expects to complete the 150,000-square-foot project by the end of this year. Some of Phase II is complete, with 98 percent of the space leased to tenants including anchors Hobby Lobby and UFC Gym, as well as CoreLife Eatery, AT&T, …

March 20, 2020

Grocery-anchored Investment sales News Retailers Texas

New Market Properties Acquires 85,599-Square-Foot Midway Market Retail Center in North Dallas

by Alex Tostado March 20, 2020

Dallas — New Market Properties LLC, a subsidiary of Atlanta-based Preferred Apartment Communities (PAC) has acquired Midway Market, an 85,599-square-foot shopping center in Dallas. Kroger anchors the center, which is located at the corner of Frankford and Midway roads on the city’s north side. The seller was not disclosed. Approximately 145,000 people with an average household income in excess of $98,000 live within a three-mile radius of the center.

March 20, 2020

California Company news Indiana Malls News Retailers

Simon, URW Among Latest to Temporarily Close Retail Centers Amid Coronavirus Outbreak

by Alex Tostado March 19, 2020

Indianapolis and Los Angeles — Simon Property Group and Unibail-Rodamco-Westfield (URW) have announced they will temporarily close their respective shopping centers across the United States amid the worldwide COVID-19 outbreak. Simon (NYSE: SPG) closed all of its U.S. properties at 7 p.m. local time Wednesday. URW will close its properties starting today. URW, which is headquartered in Paris and has offices in Los Angeles and New York City, operates 47 properties in the U.S. Due to European governments implementing crowd bans, URW began shuttering centers in France, Spain, Poland, Austria, …

March 19, 2020

Company news News Retailers Washington

Costco Wholesale Acquires Innovel Solutions for $1B to Expand Last-Mile Capacity

by Alex Tostado March 19, 2020

Issaquah, Wash. — Issaquah-based Costco Wholesale Corp. has acquired Innovel Solutions, a provider of third-party logistics solutions with nationwide capabilities, for $1 billion. Innovel was a subsidiary of Transform Holdco, which operates Sears and Kmart stores. The acquisition was funded with the company’s existing cash balances. Innovel provides last-mile delivery, complete installation and white glove capabilities for large and/or bulky products. Its network offers coverage to nearly 95 percent of the United States and Puerto Rico. Products served through Innovel include major appliances, furniture, mattresses, televisions, grills, patios, fitness equipment …

March 19, 2020

Georgia Investment sales News Retailers

Coro Realty, Pope & Land Acquire Three Shopping Centers Near Atlanta

by Alex Tostado March 17, 2020

Atlanta — An Atlanta-based partnership between Coro Realty and Pope & Land has acquired three shopping centers spanning 118,500 square feet north of Atlanta. The first property is the 23,500-square-foot Brookside Station in Alpharetta. The asset is situated along Old Milton Parkway, 35 miles north of downtown Atlanta. Also included in the sale was Mansell Oaks, which spans 43,000 square feet. Mansell Oaks is situated in Roswell, 25 miles north of downtown Atlanta. The final property is Town Center Oaks in Kennesaw. The property comprises 52,000 square feet and is …

March 17, 2020

Grocery-anchored Investment sales Nebraska News Retailers

Hanley Investment Group Arranges Sale of 174,000-Square-Foot Shopping Center in Lincoln, Nebraska

by Alex Tostado March 17, 2020

Lincoln, Neb. — Hanley Investment Group Real Estate Advisors has arranged the sale of Edgewood Shopping Center in Lincoln for an undisclosed price. Built in 1991, the 174,000-square-foot shopping center sits on 22 acres. At the time of sale, the center was 95 percent occupied to tenants such as Super Saver Foods, CVS, Dollar Tree, AutoZone, Herbalife, Party America, Petco, Cartridge World, H&R Block and Papa John’s. Hanley Investment Group represented the seller, Perkins Properties. Scott Taubin of The R.H. Johnson Co. represented the buyer, a Kansas City-based private investor.

March 17, 2020

Illinois Investment sales News Retailers

Avalon Equities Buys 5,780-Square-Foot Retail Building in Barrington, Illinois

by Alex Tostado March 17, 2020

Barrington, Ill. — Avalon Equities has purchased Barrington Station, a 5,780-square-foot retail building in Barrington, a northwest suburb of Chicago. The purchase price was undisclosed. Tenants at the property include Starbucks, Verizon, Briddick Tile & Stone and Skinovatio Medical Spa. CBRE represented the seller, GK Development.

March 17, 2020

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