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Northpoint Center
Grocery-anchoredIllinoisInvestment salesNewsRhode Island

Joint Venture Acquires Two Shopping Centers Totaling 428,928 Square Feet in Rhode Island and Illinois

by Abby Cox

Warwick, R.I. and Arlington Heights, Ill. — A joint venture between Dallas-based Encore Enterprises Inc. and AmCap Management Holdings LLC, a subsidiary of Stanford, Connecticut-based AmCap Management LLC, has acquired two grocery-anchored shopping centers in Rhode Island and Illinois totaling 428,928 square feet. The properties are Cowesett Corners in the Providence suburb of Warwick and Northpoint Center in the Chicago suburb of Arlington Heights. Cowesett Corners is anchored by Stop & Shop and totals 152,595 square feet. Additional tenants at the center include PetCo, Five Below and Oak Street Health. The …

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San Clemente at Davenport
Investment salesNewsTexas

Whitestone Acquires 31,832-Square-Foot Retail Center in Austin, Texas

by Abby Cox

Austin, Texas — Houston-based Whitestone REIT has acquired San Clemente at Davenport, a 31,832-square-foot retail center located in Austin. Austin-based Mexican restaurant chain Fresas Chicken anchors the center. Other tenants at the property include Iron Fitness and Greenlake Energy. San Clemente at Davenport marks the fifth neighborhood shopping center Whitestone has acquired in Austin. Shea Petrick and Chris Gerard of JLL Capital Markets’ Investment Sales and Advisory team represented the seller, HPI Real Estate Services & Investments, in the transaction.

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Starbucks Coffee
CaliforniaInvestment salesLeasingNews

Hanley Investment Arranges $2.9 Million Sale of Single-Tenant Retail Property in Riverside, California

by Abby Cox

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a newly constructed, 928-square-foot single-tenant retail property located in Riverside. Starbucks Coffee occupies the building on a 10-year, triple-net-lease with scheduled rent increases every five years. Situated on 0.96 acres, the building features a drive-thru and walk-up window. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the seller, Atman Kadakia of Greens Group, in the transaction. Sam Olmstead of Voit Real Estate Services represented the 1031 exchange buyer, a Southern California-based private …

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Old Cloverdale Village
AlabamaDevelopmentLeasingNews

Partnership Begins Redevelopment of Old Cloverdale Village in Montgomery, Alabama

by Abby Cox

Montgomery, Ala. — A partnership between Birmingham, Alabama-based The FiveStone Group, Bayer Ventures and New York City-based D&A Cos. is underway with the redevelopment of Old Cloverdale Village, an 11,000-square-foot retail property located in Montgomery’s Old Cloverdale District. The project team comprises CCR Architecture & Interiors, Pilgreen and Bostick Engineering Inc. and Prier Construction. The partnership also includes Fresh Hospitality and Charles Morgan. The historic Old Cloverdale Village is home to various locally owned restaurants, pubs, specialty shops and art galleries, as well as an independent arts cinema and a volunteer …

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Skechers-Manhattan-Beach-Flagship-Store
CaliforniaCompany newsNew YorkNews

3G Capital Agrees to Acquire Skechers for $9.4 Billion, Take Company Private

by Abby Cox

Manhattan Beach, Calif. and New York City — Global investment firm 3G Capital has entered into an agreement to acquire footwear brand and retailer Skechers USA Inc. The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 …

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Windcrest Village Square
Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 14,907-Square-Foot Retail Center in Magnolia, Texas

by Abby Cox

Magnolia, Texas — Marcus & Millichap has brokered the sale of Windcrest Village Square, a 14,907-square-foot retail center located in Magnolia, roughly 45 miles northwest of Houston. Built in 2023, the center sits on 1.6 acres and is fully leased to a mix of tenants including The Toasted Yolk, Sugar Llamas, Anytime Fitness, Kitchen & Bath Shop and Ally Anne’s Kolache Kitchen. Allie Munday and Philip Levy of Marcus & Millichap’s Dallas office represented the seller in the transaction.

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Smalls Sliders
Company newsDevelopmentNewsRestaurantsTexas

Smalls Sliders Signs Five-Unit Franchise Agreement in Texas

by Abby Cox

Atlanta — Cheeseburger slider concept Smalls Sliders has signed a franchise agreement to open five new units in Texas. St. Louis-based entrepreneur Brett Stewart will own and operate the restaurants, which are dubbed “Cans.” The newest locations in the state will include Killeen, Temple and Waco. Stewart will now own and operate a total of 11 units in Texas after signing an initial deal for six units with Smalls Sliders in August 2024. Founded in 2019, Smalls Sliders has a portfolio of more than 350 restaurants currently open or under development.

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Company newsFinanceNewsPennsylvania

Rite Aid Files for Chapter 11 Bankruptcy, Company to Explore Acquisition Opportunities

by Abby Cox

Camp Hill, Pa. — Rite Aid has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey, marking the second time in 24 months that the Pennsylvania-based convenience and drugstore chain has filed for voluntary bankruptcy protection. The previous filing in October 2023 preceded the closure of hundreds of stores across the country. The company is currently exploring opportunities to be acquired by outside entities. The company did not explicitly state how many of its stores would be immediately impacted but noted that it would …

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Bobs Discount Furniture
Company newsConnecticutDevelopmentNews

Bob’s Discount Furniture to Open 20 New Stores in 2025

by Abby Cox

Manchester, Conn. — Bob’s Discount Furniture has announced plans to open 20 new stores in 2025. Among the 20 stores, six will be located in North Carolina, marking the brand’s entry into the Southeast. Bob’s will also open its first location in Vermont. The brand’s 2025 expansion began in February, which included new store openings in Burnsville, Minnesota; Winchester, Virginia; Reno, Nevada; and Davenport, Iowa. Summer and fall openings will comprise locations in Queens, New York; Eatontown, New Jersey; Eaton, Pennsylvania; Williston, Vermont; Troy, Michigan; Dorchester, Massachusetts; Sacramento, California; and …

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Superstition Gateway Shopping Center
ArizonaInvestment salesNewsPower centers

Desert Troon Sells Superstition Gateway Shopping Center in Mesa, Arizona for $121 Million 

by Abby Cox

Mesa, Ariz. — Desert Troon Cos. has sold Superstition Gateway Shopping Center, a 495,000-square-foot retail power center located in Mesa, for $121 million. Situated on 65.7 acres at the southwest corner of U.S. Highway 60 and Signal Butte Road, the center was constructed in 2006 and 2012 and comprises 19 individual parcels. Current tenants at the property — which was 90 percent leased at the time of sale — include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress For Less, Marshalls, Five Below, PetSmart, Panera Bread, …

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