Ormond Beach, Fla. — The Ferber Co. has completed the 33,000-square-foot Phase II of The Shoppes at Granada in Ormond Beach, Florida. ALDI, TD Bank, Spectrum and Salzburg Animal Hospital join Panera Bread, Chipotle Mexican Grill and Petco at the center. The Shoppes at Granada now includes 64,000 total square feet of retail space.
Blue Bell, Pa. —JLL has brokered the $29.1 million sale of the Shops at Blue Bell, a 103,580-square-foot shopping center in Blue Bell, located approximately 15 miles north of Philadelphia. Regional grocer Giant anchors the shopping center, which is 98 percent leased to tenants including Santander Bank, IHOP, Supercuts and nutritional product retailer GNC. James Galbally, Chris Munley and Colin Behr of JLL represented the seller, which was undisclosed. KPR, formerly known as Katz Properties, purchased the asset.
New York City — LVMH Moët Hennessy Louis Vuitton SE (LVMH), a French conglomerate and supplier of luxury goods, has agreed to acquire luxury jewelry retailer Tiffany & Co. (NYSE: TIF) for approximately $16.2 billion. The sales price equates to $135 per share, to be paid in cash. The deal is expected to close in the second or third quarter of 2020. LVMH, based in Paris, owns more than 70 luxury brands in the clothing, cosmetics, jewelry and spirits industries, including Dom Pérignon champagne, Givenchy clothing and perfume and Christian …
Chicago — Starbucks Coffee Co. has opened its Reserve Roastery in downtown Chicago. The 35,000-square-foot, five-story roastery opened to the public Friday, Nov. 15 and is the largest Starbucks location. The store is located in the Magnificent Mile in a space formerly occupied by Crate & Barrel. All of the coffee beans roasted at the facility are served and sold on site. There are three coffee bars at the roastery. Baristas make classic espresso beverages at the coffee bar on the main floor. An experiential bar can be found on …
Starkville, Miss. — SRS Real Estate Partners has negotiated the $8.4 million sale of a 62,916-square-foot store in Starkville fully leased to Academy Sports + Outdoors. The sporting goods retailer recently signed a 15-year lease at the store with scheduled rent increases and options to extend. A private investor based in Southern California purchased the asset in 1031 exchange from the seller, a merchant real estate developer based in the Southeast. The store was built in 2017 at 160 Hollywood Blvd., about five miles west of Mississippi State University. Britt …
Larchmont, N.Y. — Cushman & Wakefield has brokered the sale of Ferndale Shopping Center, an 84,000-square-foot retail property in Larchmont, a northern suburb of New York City. Located at 1310-1340 Boston Post Road, the property was 96 percent occupied by seven tenants at the time of sale, including grocer Stop & Shop and a 24-hour CVS/pharmacy. The asset sold for approximately $35 million. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Kyle Schmidt of Cushman & Wakefield represented the undisclosed seller in the transaction. The team also …
El Paso, Texas — Retail Solutions has arranged the sale of Crosspointe Shopping Center, a 42,084-square-foot retail property located at 4717 Hondo Pass Drive in El Paso. According to LoopNet Inc., the property was built in 1987 and is situated on 2.5 acres. Chris Duncan of Retail Solutions represented the seller in the transaction. Patrick Gordon of Vista Star Realty represented the buyer. Both the seller and buyer were not disclosed.
Jurupa Valley, Calif. — CBRE Capital Markets’ Debt & Structured Finance team has arranged a $9 million loan for Kite Family Limited Partnership. The funds will be used to refinance debt on Jurupa Valley Spectrum, a retail asset in Jurupa Valley. Located at 8022-8082 Limonite Ave., the 124,949-square-foot retail center was 98 percent leased at the time of financing. Jurupa 14 Cinemas occupies approximately 48 percent of the property. Other tenants include Walgreens, Starbucks Coffee and the United States Postal Service. Shaun Moothart, Bruce Francis, Bob Ybarra, Dana Summers, Doug …
Atlanta — The future of food and beverage retail is…sports? To hear from “The Future of Restaurants & Entertainment” panel at the ICSC Southeast Conference & Deal Making event, sports-centric concepts are a solid bet for retail real estate owners to pursue going forward. Produced by the International Council of Shopping Centers (ICSC), the event was held Nov. 13-15 at the newly renovated Georgia World Congress Center in downtown Atlanta. Justin Amick, president of Painted Hospitality, spoke during the panel about his two venues in Atlanta, The Painted Pin and …
Plano, Texas — Fun Movie Grill, an entertainment concept that combines food, bowling, movies and games, will open a 70,000-square-foot venue in Plano. The eight-screen location will be part of Mustang Square, a 36-acre mixed-use development that will include 90,000 square feet of office space, hotels, residential villas and townhomes and a public plaza. Dan Avnery and Stewart Korte of NAI Robert Lynn represented the tenant and the landlord, Thakkar Developers, which broke ground on Phase I of the project in October, in the lease negotiations. The venue, which is …
