News

Dior-Saks
Company newsFinanceNew YorkNews

Saks Global Files for Chapter 11 Bankruptcy, Secures $1.75 Billion Financing Commitment

by Abby Cox

New York City — Saks Global Holdings LLC, the owner of luxury retailers such as Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. The company secured a financing commitment of approximately $1.75 billion, comprising $1.5 billion from an ad hoc group of the company’s senior secured bondholders and roughly $240 million of incremental liquidity from its asset-based lenders. Saks Global says the financing package will strengthen its balance sheet and position …

Continue Reading
0 FacebookTwitterLinkedinEmail
Chino-Spectrum-Towne-Center
CaliforniaInvestment salesNews

Brixmor Property Group Acquires Chino Spectrum Towne Center in California for $138 Million

by Abby Cox

Chino, Calif. — New York-based Brixmor Property Group has acquired Chico Spectrum Towne Center, a 461,269-square-foot grocery-anchored power center located in Chino, for $138 million. Jimmy Slusher, Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup of CBRE represented the seller, MetLife Investment Management, in the transaction. Chino Spectrum Towne Center is 95 percent leased to tenants including Kohl’s, Five Below, Best Buy, Marshalls, BevMo!, Ulta Beauty, Nordstrom Rack and a newly opened H Mart grocery store.

Continue Reading
0 FacebookTwitterLinkedinEmail
The Shops at Evergreen Walk
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $98 Million Sale of The Shops at Evergreen Walk in Windsor, Connecticut

by Abby Cox

Windsor, Conn. — CBRE has arranged the $98 million sale of The Shops at Evergreen Walk, a 400,000-square-foot lifestyle center in Windsor, a northern suburb of Hartford. Brand Street Properties and Barings acquired the property, while Nat Heald of CBRE National Retail Partners represented the seller, PGIM, in the transaction. Anchored by Whole Foods Market, The Shops at Evergreen Walk features a mix of additional tenants including L.L. Bean, Apple, Anthropologie, Pottery Barn, Sephora, lululemon, Nike and Williams-Sonoma.

Continue Reading
0 FacebookTwitterLinkedinEmail
grossmont-center
CaliforniaDevelopmentNews

Federal Realty Underway on Redevelopment of 925,000-Square-Foot Shopping Center in La Mesa, California

by Abby Cox

La Mesa, Calif. — Federal Realty Investment Trust is underway on the redevelopment of Grossmont Center, a 925,000-square-foot shopping center located in the San Diego suburb of La Mesa. The first phase of the multi-year renovation will include façade upgrades for storefronts; updated landscaping and greenery; enhanced common areas with new outdoor seating; and improvements to pedestrian foot traffic routes, lighting and overall visibility. Completion of Phase I is anticipated for October 2026. All existing businesses will remain open throughout construction. Federal Realty Investment Trust acquired Grossmont Center in 2021. Tenants …

Continue Reading
0 FacebookTwitterLinkedinEmail
Starbucks_Perris
CaliforniaInvestment salesNews

Hanley Investment Group Brokers Sale of Single-Tenant Retail Property in Southern California for $4.8 Million

by Abby Cox

Perris, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.8 million sale of a newly constructed, single-tenant retail property located in the Inland Empire city of Perris. A Starbucks café and drive-thru occupies the 2,200-square-foot building on a 10-year triple-net corporate lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Yellow Rose Ranch LLC, an affiliate of The Lynch Group. Betty Gulezyan of I.D.L. Home represented the buyer, a private investor based in Newport Beach, California. …

Continue Reading
0 FacebookTwitterLinkedinEmail
coosa-commons
AlabamaInvestment salesNews

Aly Group Acquires 9,824-Square-Foot Coosa Commons in Pell City, Alabama

by Abby Cox

Pell City, Ala. — Atlanta-based The Aly Group has acquired Coosa Commons, a 9,824-square-foot retail center located in Pell City, approximately 30 miles west of Birmingham. Tenants at the property include Starbucks Coffee, Jersey Mike’s, Wingstop and The St. Clair. Jacob Fahner of Hanley Investment and Scott Reid of ParaSell Inc. represented the seller in the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
eastland-plaza
IndianaInvestment salesNews

Kaden Cos. Acquires Eastland Plaza in Bloomington, Indiana, for $22.4 Million

by Abby Cox

Bloomington, Ind. — Louisville, Kentucky-based Kaden Cos. has acquired Eastland Plaza, a 125,000-square-foot shopping center in Bloomington, for $22.4 million. Situated adjacent from College Mall on 12 acres, Eastland Plaza is anchored by Petco, DSW, Dollar Tree and Rally House. Additional tenants include Jimmy John’s, McAlister’s Deli, Noodles & Company and Domino’s Pizza. The center was 80 percent leased at the time of sale. Rebecca Wells of Cushman & Wakefield represented the seller, an entity doing business as Eastland Plaza LLC, in the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceGrocery-anchoredNew YorkNews

Newmark Arranges $425 Million Sale, Financing for The Shops at Skyview in New York City

by Abby Cox

New York City — Newmark has arranged the $425 million sale of The Shops at Skyview, a 555,000-square-foot grocery-anchored retail center located in the Flushing neighborhood of Queens in New York City. Jordan Roeschlaub, Nick Scribani, John Caraviello and Tim Polglase of Newmark secured a $289 million acquisition loan through Mizuho on behalf of the buyers, a joint venture between Acadia Realty Trust and TPG Real Estate. Adam Spies, Adam Doneger, Conor Lalor and Ben Lushing, also of Newmark, represented the seller, Perform Properties, in the transaction. Anchored by BJ’s Wholesale …

Continue Reading
0 FacebookTwitterLinkedinEmail
Big Y Plaza
ConnecticutGrocery-anchoredInvestment salesNews

Marcus & Millichap Negotiates $14.3 Million Sale of Grocery-Anchored Center in Metro Hartford

by Abby Cox

Rocky Hill, Conn. — Marcus & Millichap has negotiated the $14.3 million sale of Big Y Plaza, a 60,947-square-foot grocery-anchored shopping center in Rocky Hill, approximately eight miles south of downtown Hartford. Built in 1988 on 14 acres, the property is fully occupied by Big Y Supermarket and Wells Fargo Bank. Joseph C. French Jr. and Jeffrey Stearney of Marcus & Millichap marketed the property on behalf of the seller, a private Connecticut-based company, and procured the buyer, a private New York-based investor. John Krueger was Marcus & Millichap’s broker of …

Continue Reading
0 FacebookTwitterLinkedinEmail
VASA Fitness
ColoradoInvestment salesNews

DoubleBay, Midloch Sells 56,000-Square-Foot Single-Tenant Retail Property in Longmont, Colorado, for $13.9 Million

by Abby Cox

Longmont, Colo. — DoubleBay Partners and Midloch Investment Partners has sold 1630 Pace Street, a 56,000-square-foot single-tenant retail property located in Longmont, approximately 37 miles north of Denver. Situated within the Fox Creek Marketplace neighborhood center, the space is occupied by VASA Fitness, which was converted from a former Safeway grocery store. Mark Thiel and Cory Gross of Marcus & Millichap arranged the sale.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts