Developer CK Prive Group is planning Uptown Biscayne, a mixed-use development along Biscayne Blvd. in North Miami Beach. Rendering courtesy of Arquitectonica.
A grocer, home furnishings stores, restaurants, a fitness center and maybe a salon and massage studio are the kinds of tenants Michael Comras of the Comras Cos. is looking for to fill the new Uptown Biscayne development in North Miami Beach, FL.
"Lifestyle-type tenants," Comras told CoStar...
Retail Leasing Starts at Uptown Biscayne in North Miami Beach
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BMO and Cadillac-Fairview Redeveloping Sears Space
Bank of Montreal and Cadillac-Fairview Corp. are set to announce Thursday that the financial institution is taking over 350,000 square feet of space at Sears' former head office, CoStar News has learned.
Multiple sources have confirmed the bank is planning to join with Cadillac-Fairview in a major redevelopment of the former Sears Canada space at 290 Yonge St.
"We're building something big," Bank of Montreal employees were told in an internal...
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Ashley Furniture Takes 30,000 SF in Oakwood Square
Ashley Furniture, a national furniture retailer, signed a seven-year lease for 30,131 square feet at 3503 High Point Road in Greensboro, NC.
This single-story building was built in 1995 and encompasses 38,659 square feet within the Oakwood Square shopping center. Ashley Furniture will be joining Total Wine & More in the building upon move in next month. Other major tenants located within Oakwood Square include Walmart Neighborhood Market, McDonald...
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Windmill Building’s Next Life: Carlsbad Food Hall
The vacated Windmill Building in Carlsbad, which most recently housed a TGI Friday’s, will soon house a multi-vendor food hall.One of San Diego County’s most unusual retail buildings, a 1980s-vintage Carlsbad property featuring its own full-sized windmill, is set to join a growing national trend toward artisanal food halls focused on local cuisines.Brokers at Co
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Starwood Retail Raises $290 Million in Israeli Bond Offering
Plaza West Covina Mall in West Covina, CA
Starwood Retail Partners completed a private bond offering in Tel Aviv, Israel, this week raising about $287 million. It hopes to raise another $28 million in a further public offering of the bonds there as well.
Starwood Retail Partners is a Chicago-based subsidiary of Starwood Capital Group that owns 30 U.S. malls and lifestyle centers. The bonds were sold under a newly formed entity called Starwood...
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Camping World Leases Former 21,000-SF Gander Mountain Bldg. in Sheboygan
CWI, Inc. (NYSE: CWH), a national Outdoor and Camping retailer doing business as Camping World, leased the entire 21,000-square-foot retail building formerly used as a Gander Mountain location at 4224 Gander Rd. in Sheboygan, WI.
Camping World, which acquired Gander Mountain and its Overton’s boating business last year, will be moving into the single-story building in the second quarter this year. Adjacent to Interstate 43, the free-standing building...
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TMCFM Pays $7.3M for Naples Retail
TMCFM, Inc. added to its growing holdings of Harley Davidson motorcycle dealerships, acquiring the retail building at 3645 Gateway Ln. in Naples, FL for $7.25 million, or about $375 per square foot, from Harley-Davidson, Inc.
This 19,353-square-foot, freestanding building was built in 2001 on 2.7 acres located east of I-75, just off Pine Ridge Road. Following the acquisition, the buyer now owns nine Harley Davidson properties.
Both parties...
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Think Tank Brew Lab Takes 25,000 SF in Greenville
Think Tank Brew Lab, a craft brewery and kitchen, signed a lease for 25,000 square feet in the industrial building at 101 Airport Rd. in Greenville, SC.
The space, which will be built out to be a trailside biergarten, tap-room and even hall, will be the company's first location and is slated to open this summer.
Situated on an 8.2-acre site, the complex totals 116,763 square feet and is located in the Downtown Airport Industrial submarket....
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The Abbey Company Secures $229M Refi on 27-Property Retail Portfolio
The Abbey Company, a privately-held real estate investment and management firm, secured $229.3 million in bridge financing to recapitalize its 27-property retail portfolio spread across Southern California.
Los Angeles-based corporate and real estate law firm Sklar Kirsh LLP arranged the loan on behalf of the borrower, placing the financing package with Citi Real Estate Lending and Barclay's Bank.
"This was a very complex loan with a lot of...
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Best Buy Closing 257 Stand-Alone Mobile Stores
Best Buy Co. Inc. (NYSE:BBY) yesterday announced plans to close its 257 remaining Best Buy Mobile stand-alone stores in the U.S. effective May 31.
The decision will impact from about 285,000 to 350,000 square feet of inline mall store space based on the average size range of the stores.
Best Buy, which began rolling out the specialty stores in 2007 and had most opened by the end of 2011, cited changes in the mobile phone business for its decision...
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Mark Teixeira Latest Ex-Brave to Take Swing at Development
Former Major League Baseball All-Star Mark Teixeira is back in Atlanta, working with Urban Creek Partners to create a mixed-use development adjacent to the Bankhead MARTA Station.
The partnership this week released plans for the $400 million first phase of Quarry Yards, a transit-oriented development 1.5 miles from Georgia Tech, where Teixeira played college ball. He played two stints with the Braves in 2007 and 2008 before signing with the Yankees...
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Going Small Opening Up New Opportunity for Kohl's: Groceries
Kohl's Corp. (NYSE:KSS), which has been paring down merchandise offerings in its full-size stores, is testing a new use for that unused space: groceries.
Kohl's and fast-growing international supermarket chain Aldi have tested two "proof of concept" stores and will be rolling out the concept to five to 10 more stores this year, the company announced yesterday.
Kevin Mansell, CEO of Kohl's, told analysts yesterday the collaboration with Aldi...
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Ollie’s Bargain Outlet Leases Space in Bridgeton
Ollies Bargain Outlet has signed a lease for 31,303 square feet in the retail building at 12-54 Cornwell Dr. in Bridgeton, NJ.
The 110,728-square-foot Upper Deerfield Plaza shopping center was developed in 1977 and is currently owned by Phillips Edison & Company. Other tenants include Dollar Tree, Tractor Supply Company and Aldi.
Eric Penny of Philips Edison & Company represented the landlord in-house.
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Capview Partners Appoints Manheimer to Managing Director, CIO
Mark Manheimer has been appointed managing director and CIO of Dallas-based real estate investment and fund management firm, Capview Partners.
A 20-year industry veteran, Manheimer spent the last four years with Spirit Realty Capital in its Scottsdale, AZ office as an executive vice president and head of the firm's asset management division.
His career also includes serving as a vice president and head of sale-leaseback acquisitions for Cole...
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Grocery Outlet Building in Imperial Beach Sold for $7.2M
Tri-Star Hotel Investments, Inc. purchased the retail building at 881 Palm Ave. in Imperial Beach, CA from Sudberry Properties, Inc. for $7.15 million, or about $447 per square foot.
The 16,000-square-foot building was constructed in 2017 within the Breakwater Town Center. The building is occupied by Grocery Outlet, which serves as the anchor tenant for the center. Other major tenants in the center include Starbucks and Chipotle.
Gleb Lvovich...
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Studio Movie Grill Coming to K-Mart Plaza in Citrus Heights
A new Studio Movie Grill is coming to Citrus Heights, CA.
The movie theater chain, which comes equipped with a full dining option and full-service bar, signed a lease to open a 50,000-square-foot location at the K-Mart Plaza on Auburn Rd. in suburban Sacramento's Orangevale/Citrus Heights Retail submarket.
Studio Movie Grill will share the property at 8501 Auburn Blvd. with Big Lots. Other tenants in the 149,652-square-foot neighborhood center...
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Harley-Davidson Purchases Commercial Property
American motorcycle manufacturer Harley-Davidson has purchased 9501 Thunder Rd. in Fort Myers, FL from a local investor for $9 million, or approximately $160 per square foot.
The Lee County motorcycle dealership is a two-story, 56,118-square-foot retail building that was built in 2014 in the South Ft. Myers / San Carlos submarket of Lee County.
Gary Tasman and Heather Adams of Cushman & Wakefield Commercial Property Southwest assisted the seller...
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Macerich, Hudson Pacific Confirm Plans to Redevelop Westside Pavilion
It's official: Hudson Pacific Properties, the LA-based office REIT headed by Victor Coleman, and Santa Monica-based mall owner Macerich are forming a joint venture with plans to convert 500,000 square feet of approximately 600,000 square feet at Westside Pavilion into creative office space.
Hudson Pacific and Macerich, which announced the expected arrangement today, said Hudson Pacific would control 75% of the joint venture with the remaining 25...
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Talavi Towne Center Sold for $21.9M in Glendale
Kimco Realty Corp., a NJ-based REIT that owns and operates more than 492 shopping centers across the U.S., sold the 118,377-square-foot Talavi Towne Center in Glendale, AZ to a private investor for $21.9 million, or approximately $185 per square foot.
The shopping center at 5715-5795 W. Bell Rd. is anchored by Walmart, Michael’s and MOR Furniture for Less. Additional tenants include Dollar Tree, Chennai Café, Cricket Wireless and Tokyo Lobby...
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Hix Snedeker Sells Retail Bldg. Leased to Tractor Supply Co. in Mobile
Hix Snedeker Cos., a local development company with more than 4.1 million square feet of projects, sold a 19,097-square-foot retail building in Mobile, AL to a private investor based in Los Angeles for $3.7 million, or approximately $193 per square foot.
The single-story building is leased to Tractor Supply Co. on a 15-year term. Hix Snedeker developed the retail building in 2017 less than two miles from the Mobile Regional Airport.
Jack Farritor...
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