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Latest Atlanta & Southeast Retail Stories
Tanger Factory Outlet Centers, Inc., has broken ground on Tanger Outlets Nashville. The six-building, 290,000-square-foot open-air shopping center, located along I-24 at the Century Farms development, opens in fall 2023 on a 32-acre parcel. The new Nashville location will house a roster of more than 70 brands, including digitally native companies and popular local concepts. …
Stan Johnson Company has completed the $6.7-million sale of a 40,522-square-foot retail property leased to Caliber Collision in Memphis, TN. The tenant operates on a long-term net lease that features rental increases and option periods. The store on Adams Avenue is more than double the tenant’s typical size and allows work on commercial vehicles, emergency …
Latest Boston & New England Retail Stories
Newmark has completed the $390-million sale of nine grocery-anchored shopping centers located across greater Boston, MA and in Providence, RI. The portfolio is 95% leased. Robert Griffin, Geoffrey Millerd, Jonathan Martin and Paul Penman of Newmark represented seller Gravestar and procured the buyer, TA Realty and operating partner Wilder. Newmark’s Mathew Adler provided additional support …
Newmark has completed the sale of two retail shopping centers on Cape Cod in MA totaling more than $120 million. The assets include Southwind Plaza, a 258,110-square-foot shopping center in Hyannis and Falmouth Landing, a 279,989-square-foot retail center in Falmouth. Robert Griffin, Geoffrey Millerd, Jonathan Martin and Paul Penman of Newmark represented both the seller, …
Latest California Retail Stories
Newmark has completed the sale of the Village Oaks, a 79,875-square-foot grocery- and drug-anchored community shopping center in Martinez, for an undisclosed amount. The property traded from the seller, an undisclosed private family investor, to the buyer, an institutional investment group. Nicholas Bicardo, head of Retail Capital Markets for Northern California, represented the seller with associate …
The LA Fitness at 13822 Garvey Ave. in Baldwin Park has sold in a 1031 exchange for $18.08 million. Kidder Mathews’ Tanel Harunzade, Darrell R. Levonian, and Brittney McCarthy represented the seller, a private family investor. The buyer was represented by Janet Neman and Angelica Gotzev, also with Kidder Mathews. The approximately 45,000-square-foot facility is …
Latest Chicago & Midwest Retail Stories
Clear Height Properties has engaged Colliers to sell a three facility, net leased Cannabis real estate portfolio with strategic locations in Illinois. Colliers Chicago EVP Peter Block and his partners Christian Pera and Eric Okleshen are overseeing the disposition. The properties are operated by Sunnyside Dispensary, the first national retail brand of Cresco Labs, and are located at 3524 …
Chicago-based Newport Capital Partners, longtime niche specialists in neighborhood retail plazas, having just bought Elston Logan Plaza in Chicago’s trendy Bucktown neighborhood for $29.25 million, is eyeing expansion outside its usual Midwest stomping ground, Newport principal Ben Andrews told Connect CRE in an interview this week. “We have raised $150 million of a $300 million …
Latest Florida & Gulf Coast Retail Stories
CBRE has facilitated the sale of The Cascades, a mixed-use property located on Gadsden Street in Tallahassee, FL, for $95 million. A CBRE team of Frank Carriera, Mike Regan, Joe Ayers, Cliff Taylor and Mike Harrell represented the both the buyer, Becovic Management Company, and the seller, North American Properties, in the transaction. Constructed in …
Miami-based developer Shoma Group has acquired 2.5 acres on Bird Road in Miami, FL for $34 million. The site near Coral Gables will house the $220-million Shoma One mixed-use development, which includes 391-unit apartment community and a Shoma Bazaar food hall. Michael Fay of Avison Young represented the seller, Deel Volvo. “Miami is more popular …
Latest Global Retail Stories
Despite the worldwide geopolitical and economic uncertainty, global commercial real estate investment seemed undaunted, growing by 34% year over year in Q1 2022 to US$282 billion. According to a CBRE report, investment increased by 47% in the Americas, 25% in Europe, the Middle East and Africa (EMEA) and 5% in the Asia-Pacific region. Multifamily investments …
Only a few short years after paying $15.7 billion for Westfield Corp, a top U.S. mall operator with properties from coast-to-coast, Europe’s largest mall operator Unibail Rodamco-Westfield, URW, has decided to exit the U.S. market, URW said in a press release detailing a radical restructuring of the company. “Following the completion of its comprehensive deleveraging …
Latest National Retail Stories
Despite the worldwide geopolitical and economic uncertainty, global commercial real estate investment seemed undaunted, growing by 34% year over year in Q1 2022 to US$282 billion. According to a CBRE report, investment increased by 47% in the Americas, 25% in Europe, the Middle East and Africa (EMEA) and 5% in the Asia-Pacific region. Multifamily investments …
National asking cap rates in the single-tenant bank ground lease sector decreased to 5.15% in the first quarter, according to the Boulder Group’s 2022 Net Lease Bank Ground Lease Report. This represented a 20-basis-point decrease year-over-year. “The cap rate compression associated with the banking sector can be best attributed to overall market conditions in the …
Latest New York & Tri-State Retail Stories
Newmark Retail completed a 4,400–square-foot lease with high-end jeweler Ted Muehling at 104 Franklin St. in Lower Manhattan’s Tribeca neighborhood. Managing director Andrew Stern and director Ravi Idnani represented asset owner Magna & York. Ted Muehling has been designing jewelry and decorative objects since 1976. The jeweler, a longtime tenant of downtown, first had a shop on Greene Street, then Howard Street, and most …
Ariel Property Advisors has arranged the sale of three properties totaling $12.9 million located in Brooklyn and Northern Manhattan. The largest of the three transactions was the $5.05-million sale of a vacant two-story commercial building at 222-226 W. 145th St. In Manhattan. The transaction was brokered by an Ariel team including director Jason M. Gold, founding partner Michael …
Latest Phoenix & Southwest Retail Stories
Coldwater Plaza, an 80,600 square foot retail center, sold for $174 a square foot. The property was sold by its original developer, WM Grace, who built it in 2005. Newmark represented the seller. The buyer was Kwon-State Ave, LLC. The development sits on a 12.58 acre lot and is home to a Sam’s Club and …
112,000 square foot retail property Tri-Valley Plaza was sold to an undisclosed buyer for $13.4 million. The center, in Casa Grande, is made up of two buildings. The larger of the two was vacated by Walmart but the owner was able to fill the space with a number of mid-sized tenants such as Planet Fitness, …
Latest Seattle & Northwest Retail Stories
Opened in 2005 by CenterCal Properties, the Bridgeport Village lifestyle center in Tigard, OR is now undergoing a refresh. beloved lifestyle center is undergoing a significant refresh which will elevate and modernize the Village. With an investment valued at more than $35 million, the refresh will feature covered seating areas, a center court village green surrounded by …
Bank of Idaho together with HomeStreet Bank have announced that Bank of Idaho will acquire five branches of HomeStreet Bank in Eastern Washington, including their lending business and employees. The transaction is expected to close this summer, subject to customary regulatory approvals. With the acquisitions, Bank of Idaho’s presence will now extend into Washington with …
Latest Texas Retail Stories
MetroNational went public with its intent to build a 27-acre urban infill development, made up of boutiques and known brands, restaurants and health and wellness services. Located at Barryknoll Lane and Gessner Road, the new project will be part of Memorial City, a 300-acre mixed-use development. Construction is expected to begin in 2023 and completion …
The street is famous for many of the wrong reasons. Rowdy partying and some recent shootings have many residents clamoring for upgrading the area. At a recent meeting of the Austin Historic Landmark Commission, Stream representatives shared a few ideas with the group. Stream owns as many as 30 buildings on the street and hopes …
Latest Washington DC Retail Stories
JLL has closed the sale of Stony Point Fashion Park, a 396,961-square-foot, single-story, open-air regional shopping center in Richmond, VA. David Monahan, Cameron Pittman, Jordan Lex, Jimmy Appich and Spotty Robins with JLL advised the seller, a receiver acting pursuant to a receivership order entered by the Circuit Court of the City of Richmond. Second …
Baltimore-based Continental Realty Corporation has purchased its third retail asset in GA with the $24.4-million acquisition of Banks Crossing. The 255,101-square-foot regional shopping center in the Atlanta submarket of Fayetteville, GA is anchored by Kroger and JCPenney and approximately 91% occupied. CRC also owns North Bridges shopping center in Alpharetta and Summit at Towne Lake …