Development/Redevelopment

Need to fill empty space? Walk-in medical clinics hold a lot of tenant promise, as regional companies such as New York’s City Practice Group and national chains such as Humana’s Concentra increasingly find homes in spaces vacated by shuttered retailers in strip malls and shopping centers.

Hospitals are also getting in the game. Vanderbilt University Medical Center, for example, is building clinics in retail settings throughout the Nashville metro area.

If you’re after a hot tenant, look no further than food.

From food trucks to high-end restaurants and everything in between, dining has never been more essential to the shopping center experience. “E-commerce has made it more important for retail centers to enhance the experience,” said Terry Montesi, CEO, Trademark Property Co. “And food works great with retail.”

The federal government has extended the Investment Tax Credit (ITC) for solar energy investments through 2019. It provides businesses that install solar panels a tax credit equal to 30% of the total solar installation price. The credit will ramp down to 26% in 2020, 22% in 2021 and to 10% in 2022 for commercial solar installations.

Sam Dushey took the reins of his family-owned business, discount department-store chain Shoppers World, when he was just 27. The company was founded by his grandfather, an immigrant from Syria, in the 1930s, and then expanded upon by Dushey’s father, uncle and cousin.

Fully customized pizzas tailored to each guest’s liking, served up in minutes. That’s the idea behind PizzaRev, a Los Angeles-based fast-casual pizza chain whose “build-your-own” approach is bringing food customization to a new level.

Deals in “Mind” Games

Brain fitness might seem an unusual specialty for a retailer, but it’s proved a sweet spot for Marbles: The Brain Store.

Founded by Lindsay Gaskins and Scott Brown, the Chicago-based retailer sells games and other items designed to stimulate the brain. It made its debut in 2008, with a kiosk in a local mall. People were intrigued, but they wanted a more engaging shopping experience, said marketing director Hallie Steube.

Kansas City -- Taubman Centers and The Macerich Company announced a joint venture for Country Club Plaza location in Kansas City, Missouri from Highwoods Properties. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Taubman and Macerich each own a 50% interest in the center.

Fort Worth, Texas -- Trademark Property Co. announced that it is under contract to purchase 3.5 acres of land adjacent to its 278,000-sq.-ft. WestBend mixed-use development in Fort Worth, Texas. The parcel is located on University Drive immediately south of WestBend, along the Trinity River.

Columbus, Ohio -- CASTO, The Daimler Group and The New Albany Company announced a joint venture to develop a large scale, mixed-use property, comprising 320 acres located in Columbus, Ohio at State Route 161 and Hamilton Road interchange.

Hamilton Quarter when completed will include over 700,000 sq. ft. of office space, 1 million sq. ft. of retail, restaurant, and entertainment space, up to 800 multi-family units, and 130 senior living units, as well as hospitality and other destination oriented venues.

Fort Lee, N.J. -- Tucker Development announced long-term leases for first phase of Hudson Lights in Fort Lee, New Jersey. CycleBar, Linwood Wine & Liquor and SeeSaw will join the roster of tenants already signed to nearly 75% leased, 1 million sq. ft. development, anchored by iPic Theaters. The first-phase of the project will comprise approximately 140,000 sq. ft. of retail and 276 luxury apartments.