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ArizonaInvestment salesNewsRetailers

Cushman & Wakefield Arranges $2.5 Million Sale of Retail Building in Tucson, Arizona

by Alex Tostado

Tucson, Ariz. — Cushman & Wakefield has brokered the sale of a multi-tenant retail building situated within Santa Cruz Plaza at 3782 S. 16th Ave. in Tucson. Carlsbad, California-based Blue Hat LLC acquired the asset from Los Angeles-based Santa Cruz Center LLC for $2.5 million. The 7,200-square-foot building is an outparcel to Santa Cruz Plaza, a 271,600-square-foot shopping center anchored by Fry’s Grocery. At the time of sale, the property was fully leased to four tenants: Subway, Cricket Wireless, Nationwide Vision and Affordable Dentures & Implants. Chris Hollenbeck and Shane …

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Grocery-anchoredInvestment salesNewsRetailersVirginia

Armada Hoffler Agrees to Sell Seven Southeastern Retail Properties for $106.5 Million

by Alex Tostado

Virginia Beach, Va. — Armada Hoffler has agreed to sell seven grocery-anchored retail properties in North Carolina, Virginia and Maryland for a combined $106.5 million. The assets comprise 630,780 square feet. The three Virginia centers include Bermuda Crossroads, a 122,566-square-foot, Food Lion-anchored property in Chester; Gainsborough Square, an 88,862-square-foot, Food Lion-anchored property in Chesapeake; and Indian Lakes Crossing, a 64,973-square-foot, Harris Teeter-anchored property in Virginia Beach. In North Carolina, the company will sell three Harris Teeter-anchored centers, including Alexander Pointe, a 64,724-square-foot property in Salisbury; Harper Hill Commons, a 64,973-square-foot …

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DevelopmentNew YorkNewsRetailers

Manolo Blahik to Open 9,947-Square-Foot Store in Manhattan

by Alex Tostado

New York City — Footwear retailer Manolo Blahik will open a 9,947-square-foot retail and office lease in Manhattan. The property with include 4,942 square feet of retail space and 5,005 square feet of office space. David Thomas Design will serve as the project architect for the interior build-out of the store. Ariel Schuster, Ben Birnbaum and Peter Shimkin represented Manolo Blahik in the lease negotiations. The landlord is 717 Madison LP. The store is slated to open later this year.

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LeasingMichiganNewsRetailers

Beztak Properties Secures First Retail Tenant at Uptown Ann Arbor Project

by Alex Tostado

Ann Arbor, Mich. — Beyond Juice Juicery + Eatery will open its 15th Southeast Michigan location at the new Uptown Ann Arbor project in Ann Arbor. Beztak Properties is the project developer. Beyond Juice will occupy 1,600 square feet. Billy Gershensen of the Gershenson Group represented Beyond Juice in the lease transaction. Michael Murphy, Vicki Gutowski and Larry Siedell of Gerdom Realty & Investment represented Beztak. Upon completion, Uptown will be home to 250 townhomes and luxury lofts as well as 17,220 square feet of ground-floor retail space.

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DevelopmentIllinoisNewsRestaurantsRetailers

PaPPo’s Pizzeria & Pub to Open at Quincy Mall in Peoria, Illinois

by Alex Tostado

Peoria, Ill. — PaPPo’s Pizzeria & Pub will open at Quincy Mall in Peoria this summer. The restaurant specializes in stone-hearth, oven-baked pizzas; and craft beer. Quincy Mall is the company’s first Illinois location, but it currently operates in Lake of the Ozarks, Columbia and Springfield, Missouri. PaPPo’s also serves calzones, sandwiches, salads, wings, breadsticks and its famous Pizookie, a brown butter chocolate chip cookie. PaPPo’s will occupy the current Que Town Bar-B-Que space. Que Town plans to relocate within the mall. Cullinan Properties Ltd. owns the property.

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EntertainmentRetailersSCBlog

The Art of Placemaking: Captivating Retail Guests Through Artistic and Cultural Centerpieces

by Alex Tostado

“Some people look for a beautiful place, others make a place beautiful.” — Inayat Khan This sentiment captures what today’s developers and city leaders are striving to achieve through the art of placemaking. Nowhere is this trend more evident than in the retail sector. Today’s retail owners and developers are becoming increasingly collaborative with city stakeholders and artists in an effort to create retail destinations that are more beautiful, impactful and powerful — ultimately attracting more guests, encouraging higher lengths of stay and increasing overall return on investment (ROI). One …

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DevelopmentNewsRetailersTexas

Brosco Group Breaks Ground on 21,000 SF Retail Project in Mesquite, Texas

by Alex Tostado

Mesquite, Texas — Locally based developer Brosco Group has broken ground on Corner Stone Plaza, a 21,000-square-foot retail project in the eastern Dallas suburb of Mesquite. Weitzman, which is handling leasing of the center, is targeting a mix of restaurant, beauty, fitness and service tenants, as well as healthcare practices. Completion is slated for mid-2020.

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Company newsNew YorkNewsRetailers

Modell’s Sporting Goods to Close All 153 Stores

by Alex Tostado

New York City — Modell’s Sporting Goods has filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of New Jersey. The fourth-generation, family-owned retailer will close all of its 153 stores throughout New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and Washington, D.C. The New York City-based sporting goods, athletic footwear, active apparel and fan gear retailer was founded in 1889. The company will begin liquidation sales Friday, March 13 and plans to continue operating its online platform. Modell’s …

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DevelopmentIllinoisNewsRetailers

Draper and Kramer Completes Phase II Renovations at Jewel-Osco-Anchored Shopping Center in Chicago

by Alex Tostado

Chicago — Draper and Kramer Inc. has completed the second phase of its ongoing renovation of Lake Meadows Market in Chicago’s Bronzeville neighborhood. The final element of Phase II was a full interior and exterior renovation of the shopping center’s 193,000-square-foot Jewel-Osco grocery store. Jewel-Osco parent company Albertsons shared costs of the $2.3 million project, which also included the addition of a mural entitled “Heart of Bronzeville” by local artist Corey Jenkins. Previous Phase II work included the addition of more than 18,000 square feet of new and renovated retail …

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FloridaInvestment salesNewsRetailers

Colliers Brokers Sale of 63,346-Square-Foot Shopping Center in Jacksonville

by Alex Tostado

Jacksonville, Fla. — Colliers International has brokered the sale of Mandarin Central, a 63,346-square-foot shopping center in Jacksonville. The center was constructed in 1985 on seven acres at 11018 Old Saint Augustine Road, 17 miles south of downtown Jacksonville. The property was 94 percent leased at the time of sale to tenants including Dollar General, Pizza Hut and Salento Steakhouse. Milestone Properties Inc. sold the asset to Mandarin Central Plaza LLC for an undisclosed price. Joe Montgomery, Tony D’Ambrosio and Ernie Saltmarsh IV of Colliers represented the seller in the …

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