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Premier Retail commercial real estate news, analysis, trends and information including shopping centers, malls, strip centers, big boxes, mixed-use, grocery, neighborhood and high-street segments deals and players.
SHERMAN, TX-NewQuest Properties of Houston has the ground crew moving on a 100-acre tract to mark its inroad into North Texas. The 700,000-sf town center, situated 65 miles northeast of Dallas, is about 65% pre-leased.
PORTLAND-Under an agreement approved this morning by Port of Portland Commissioners, Washington D.C.-based Anton Airfood Inc. will lease 6,635 sf for 15-years, spend upward of $2 million on tenant improvements and pay rent equal to 8% of the restaurant's annual gross sales.
LOS ANGELES-Britain's DMG World Media goes from tenant to part owner of the California Market Center, buying "a significant share" from the Hertz Group, which paid $90 million two years ago for the building trio in Downtown LA.
SANTA CLARITA, CA-An Encino, CA-based investor, acquires the 220,000-sf shopping center from Forest Family Partners, also of Encino. The plaza, boasting a roster of national retail names, was 98% leased at sale time.
FORT WORTH-The Hispanic retail community delivers two tenants for the Fort Worth Town Center, bought a year ago for a repositioning play. A closed club will reopen as an OK Corral while a shuttered theater's lights are flicked by what could be a new chain.
ORLANDO-The 84-year-old frozen food magnate is selling one of the two parcels for $1 million per acre or $22.96 per sf. Colonial Properties Trust and CNL Financial Group Inc. are interested, area brokers tell GlobeSt.com.
PHILADELPHIA-By Memorial Day, the rapidly expanding warehouse grocer will open in the space at the strip center in Phoenixville, PA that was vacated last March by the Ames department store chain. Plymouth Meeting, PA-based Kramont Realty Trust recently renovated the 177,000-sf property.
ATLANTA-The deal for the 14-building, 300,000-sf, 88%-leased property on Hammond Drive is expected to close this quarter, area brokers tell GlobeSt.com. The estimated price is $15 million, or about $50 per sf.
COLUMBIA, MD-The Plaza at The Mall in Columbia prepares to welcome a new tenant as AMC Entertainment Inc. commits to opening a new theater in the retail center. The 14-screen, state-of-the-art movie complex is expected to make its debut later this year.
SOUTHFIELD, MI-Ramco-Gershenson Properties Trust acquires 75% equity interest in 342,000-sf East Town Plaza near an I-90 interchange in Madison, WI. The REIT's purchase was made with preferred stock offering money.