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Shops-at-Mockingbird
Investment salesNewsTexas

JLL Arranges Sale of 76,426-Square-Foot Shopping Center in Dallas

by Abby Cox

Dallas — JLL Capital Markets has arranged the sale of the Shops at Mockingbird, a 76,426-square-foot shopping center located in Dallas. Adam Howells, Erin Lazarus and Michael Jankovich of JLL represented the seller, Bill Hutchinson of locally based Dunhill Partners. Situated adjacent to Dallas Love Field Airport, the Shops at Mockingbird was built on 6.4 acres in 2008. LA Fitness anchors the property, which was 94.7 percent occupied at the time of sale. Additional tenants include Family Dollar, Tropical Smoothie, Leslie’s Pool Supplies and Fuzzy’s Taco.

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rise-koreatown
DevelopmentGrocery-anchoredMixed-useNews

Retail Component of Rise Koreatown Mixed-Use Development in Los Angeles Nears Completion

by Abby Cox

Los Angeles — Nadel Architects has announced that the retail component of Rise Koreatown, a seven-story mixed-use development in Los Angeles’ Koreatown neighborhood, is nearing completion. The project will introduce more than 52,000 square feet of ground-floor retail space, which will be anchored by a 30,000-square-foot Zion Market, an American supermarket chain that specializes in Korean and Asian foods. The retail component of Rise Koreatown is expected to open later this year. Developed by Rescore Property Corp., the broader project includes over 350 residential units. Nadel’s design team drew inspiration from …

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Starbucks_San_Bernardino
CaliforniaInvestment salesNews

Hanley Investment Negotiates $3.6 Million Sale of Starbucks-Occupied Retail Property in San Bernardino, California

by Abby Cox

San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $3.6 million sale of a single-tenant retail property leased to Starbucks Coffee in San Bernardino. The newly constructed, drive-thru-only café prototype spans 1,200 square feet and operates on a 15-year triple-net corporate lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller, a local developer, in the transaction. David Kluver of Lee & Associates represented the buyer, a local investor from Orange County, California.

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Chipotle-Wasau
Investment salesNewsWisconsin

Marcus & Millichap Brokers $2.5 Million Sale of Single-Tenant Restaurant Property in Wisconsin

by Abby Cox

Wausau, Wis. — Marcus & Millichap has brokered the $2.5 million sale of a single-tenant restaurant property net leased to Chipotle Mexican Grill in Wausau. The newly constructed building totals 5,000 square feet. The property is secured by a 15-year, corporate-guaranteed net lease and is the only Chipotle within a 95-mile radius, according to the company. Jeff Rowlett, Blake Hanlon and Mark Peltin of Marcus & Millichap procured the buyer, Niets Investment Co. Michael Hughes of Marcus & Millichap Capital Corp. secured a five-year loan with a fixed interest rate …

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grocery-anchored-retail-portfolio
GeorgiaGrocery-anchoredInvestment salesNew JerseyNewsSouth CarolinaVirginia

JLL Negotiates $115 Million Sale of Grocery-Anchored Retail Portfolio Across Four States

by Abby Cox

Atlanta — JLL Capital Markets has acquired a 588,000-square-foot portfolio of grocery-anchored retail centers in Georgia, South Carolina, Virginia and New Jersey, for $115 million. The portfolio comprises seven retail properties: Hickory Flat Village in Canton, Georgia; Deshon Plaza in Stone Mountain, Georgia; Flat Shoals Crossing in Decatur, Georgia; Cascade Corners in Atlanta; The Plaza at Carolina Forest in Myrtle Beach, South Carolina; Kroger Plaza in Virginia Beach, Virginia; and Lewandowski Commons in Lyndhurst, New Jersey. The portfolio is 99.6 percent leased and features a mix of grocers including Publix, Kroger …

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lobo-crossing-rendering
DevelopmentNew MexicoNews

SimonCRE Acquires 38 Acres to Develop 363,000-Square-Foot Retail Center in Albuquerque, New Mexico

by Abby Cox

Albuquerque, N.M. — SimonCRE has acquired approximately 38 acres of land to develop Lobo Crossing, a 363,000-square-foot, open-air center located on the University of New Mexico’s south campus in Albuquerque. Lobo Crossing is set to be the largest retail center developed in New Mexico in recent decades, according to the company. Target will anchor Lobo Crossing, which will feature 11 junior anchors and 45,000 square feet of space for small retail and restaurant operators. Committed tenants include Burlington, Marshalls, HomeGoods, Sierra, Boot Barn, Five Below and Michaels. Seven additional retailers are …

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Panera_Bread_Plattsburgh_NY
Investment salesNew YorkNews

Hanley, NAI DESCO Arrange $3.3 Million Sale of Single-Tenant Restaurant Property in Upstate New York

by Abby Cox

Plattsburgh, N.Y. — Hanley Investment Group Real Estate Advisors and Clayton, Missouri-based NAI DESCO have arranged the $3.3 million sale of a single-tenant restaurant property located in Plattsburgh. Panera Bread occupies the 4,373-square-foot building, which was built in 2020, on an absolute triple-net corporate lease with zero landlord responsibilities with nine years remaining on its 15-year lease term. Jeff Lefko and Bill Asher of Hanley, Stephen Gwinnup of NAI DESCO and Brian Brockman of Bang Realty represented the seller, a private family trust, in the transaction. Bang Realty, along with …

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marcos-pizza
CaliforniaDevelopmentNewsRestaurants

Marcos’s Pizza Signs 12-Unit Franchise Agreement in Southern California

by Abby Cox

Toledo, Ohio — Toledo, Ohio-based Marco’s Pizza has signed a franchise agreement to develop 12 new restaurants in Southern California. The restaurants will be owned and operated by Baljit Gill. Today, there are three Marco’s Pizza locations open in Upland, Fontana and Hesperia, with two additional stores under development in Yucaipa and Highland, which are scheduled to debut in early April. The remaining units are currently in the site selection process. Marco’s Pizza operates more than 1,200 stores across 35 states with locations in Puerto Rico, the Bahamas and Mexico. 

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Texas-Heritage-Marketplace_Katy
DevelopmentMixed-useNewsTexas

NewQuest Breaks Ground on Junior Retail Component at $400 Million Texas Heritage Marketplace in Metro Houston

by Abby Cox

Katy, Texas — NewQuest, a local commercial real estate development and services firm, has broken ground on the multi-tenant retail component of Texas Heritage Marketplace, a $400 million mixed-use development in Katy, a western suburb of Houston. The project represents the largest cluster of retail space in the history of Waller County, according to NewQuest. “As it stands, Waller and surrounding rural counties have been unserved by major retailers,” says Austin Alvis, president and chief development officer for NewQuest. “Texas Heritage Marketplace will fill in that gap.” Situated in the center …

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BBB-Logo
Investment salesNewsRetailersUtah

Bed Bath & Beyond to Acquire The Container Store for $150 Million

by Abby Cox

Murray, Utah — Beyond Inc. has agreed to acquire The Container Store for approximately $150 million, in a deal that aims to combine the two brands. The acquisition comprises The Container Store’s entire business, including its Sweden-based Elfa customizable closet systems and Chicago-based Closet Works subsidiaries. These businesses are anticipated to serve as foundational anchors of Bed Bath & Beyond’s ‘Home Services’ pillar. As part of this reimagination, these locations will be branded The Container Store / Bed Bath & Beyond. With an average footprint of approximately 21,000 square feet per …

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