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PNC Bank to Invest $1 Billion to Add 100 New Branches, Renovate 1,200

by Hayden Spiess

Pittsburgh — PNC Bank plans to invest approximately $1 billion to open more than 100 new branches and renovate 1,200 existing locations by 2028. Expansion plans call for new locations in key cities such as Austin, Dallas, Denver, Houston, Miami and San Antonio, among others, to establish a coast-to-coast network. According to PNC Bank, the goal of the renovations is to create a better customer experience when conducting transactions or meeting with bankers to discuss financial goals. PNC Bank is a member of The PNC Financial Services Group Inc. (NYSE: PNC), …

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Presidio-Square_Houston
Grocery-anchoredInvestment salesNewsTexas

DIG Arranges Sale of 189,338-Square-Foot Retail Center in Houston

by Hayden Spiess

Houston — Disney Investment Group (DIG) has arranged the sale of Presidio Square, a 189,338-square-foot retail center located in Houston. An 82,466-square-foot HEB store anchors the property. Other tenants at the center, which was leased to 30 retailers at the time of sale, include Family Thrift, AT&T, Subway, State Farm, Little Caesars, IHOP and Chase Bank. Wu Properties acquired the property from North American Development Group (NADG) for an undisclosed price. David Disney and Adam Crockett of DIG represented NADG in the transaction. 

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Investment salesNewsTexas

2GR Equity, SHOP Development Acquire 177,000-Square-Foot Shopping Center in Metro Dallas

by Hayden Spiess

Richardson, Texas — A joint venture between 2GR Equity and SHOP Development has acquired Promenade North Shopping Center, a 177,000-square-foot retail center located in the northeastern Dallas suburb of Richardson. Tenants at the property, which was 70 percent leased at the time of sale, include Verizon Wireless, Papa Murphy’s and WingStop. The new ownership plans to implement a value-add program that will include landscape and parking lot improvements, along with new paint, LED lighting and signage upgrades.

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DevelopmentEntertainmentLeasingNewsTexas

Chicken N Pickle to Open 43,000-Square-Foot Venue at The Farm in Allen in Texas

by Hayden Spiess

Allen, Texas — Eatertainment concept Chicken N Pickle has broken ground on a new venue at The Farm in Allen, a 135-acre mixed-use project located in the Dallas suburb of Allen. Upon completion, the facility will comprise 43,000 square feet and feature indoor and outdoor pickleball courts, lawn games and a full-service restaurant. The opening is scheduled for early 2025. Other entertainment tenants at The Farm, which is being developed by JaRyCo, include High 5 and The Hub. 

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ArizonaFinanceGrocery-anchoredHawaiiIllinoisMinnesotaNewsTexas

Cushman & Wakefield Arranges $100 Million Refinancing for Grocery-Anchored Retail Center Portfolio

by Hayden Spiess

Austin, Texas — Cushman & Wakefield has arranged $100 million in refinancing for a portfolio of grocery-anchored retail centers on behalf of the borrower, Austin-based Epic Real Estate Partners. Totaling 625,000 square feet, the portfolio includes Eagan Towne Center in Eagan, Minnesota; Ventana Village in Tucson, Arizona; Preston Trail Village in Dallas; Kauai Village in Kapa’a, Hawaii; and Cobbler Crossing in Elgin, Illinois. The properties, which were 93.2 percent leased at the time of sale, are anchored by Cub Foods, Kroger, Bashas, Safeway and Jewel Osco. Beth Lambert, Chase Johnson, Caleb …

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LeasingMixed-useNewsTexas

Seven Tenants Join Work/Shop Mixed-Use Development in Dallas

by Hayden Spiess

Dallas — Seven new tenants have joined the lineup at Work/Shop, a 12-acre mixed-use development located in Dallas. Triten Real Estate is the developer and landlord of the property, which features 81,500 square feet of retail space, in addition to office and green space. EVO Entertainment Prestonwood opened at the development in November, and Local Jonny’s, MAI (My Aesthetics Intelligence), Rose Couture Nail Bar and [solidcore] are scheduled to open later this year. Toast and juice bar Toastique is also scheduled to open at the property in February, and eatery Crisp …

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LeasingNewsTexas

American Girl to Open 14,720-Square-Foot Store in Dallas

by Hayden Spiess

Dallas — American Girl will open a 14,720-square-foot store next month at The Shops at Park Lane, a 33.5-acre mixed-use development in Dallas. In addition to the full range of American Girl dolls and accessories, the two-level store will feature a full-service café. Northwood Retail owns and operates The Shops at Park Lane. 

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Cohen & Steers, Sterling Acquire Portion of the Marketplace at Highland Village in Dallas 

by Hayden Spiess

Dallas — A joint venture between Cohen & Steers Income Opportunities REIT and Sterling Organization has acquired a portion of the Marketplace at Highland Village, a 451,000-square-foot shopping center located in Dallas. The acquired segment of the property spans 207,000 square feet and was 93 percent occupied at the time of sale by tenants including T.J. Maxx, HomeGoods, LA Fitness, DSW and Petco. The remaining portion of the center is occupied by a corporately owned Walmart Supercenter.

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IKEA to Open Four New-Format Stores in 2024

by Hayden Spiess

Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …

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Company newsDevelopmentLeasingNewsRestaurantsTexas

Smalls Sliders to Open Five Restaurants in Metro Dallas

by Hayden Spiess

Dallas — Cheeseburger concept Smalls Sliders has signed an agreement with hospitality group Om Texas to open five restaurants, dubbed “Cans,” in metro Dallas. This marks the second multi-unit franchise deal in the city for the brand. Potential locations include Mesquite, Garland, Rockwall, Greenville, Murphy, Rowlett and Richardson, with the first store scheduled to open in the fourth quarter of 2024. Smalls Sliders opened its first Can in 2019 and currently has more than 160 restaurants open or under development.

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