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Development/Redevelopment

  • Planet Fitness to Frenchtown, Mich.’s Mall of Monroe

    Youngstown, Ohio — Planet Fitness will open a new 24,000-sq.-ft. health club in The Mall of Monroe in Frenchtown Township, Mich., in March of this year. Planet Fitness boasts 700 locations nationwide and 4.5 million members.

    Cafaro affiliated companies (www.cafarocompany.com) own and manage the regional Mall of Monroe.

     

     

     

  • 99 Cents Only opens Waco, Texas store Jan. 9

    City of Commerce, Calif. — 99 Cents Only Stores opens its first store in Waco, Texas on Thursday, Jan. 9. The new store is approximately 13,000 square feet and will feature a perishable food department, including produce, dairy and frozen foods.

    99 Cents Only Stores currently operates 339 extreme value retail stores consisting of 244 stores in California, 45 in Texas, 33 in Arizona, and 17 in Nevada.

  • GBT to build Middletown Commons

    Louisville, Ky. — GBT Realty Corp. has closed on the purchase of approximately 32 acres along Shelbyville Road at I-265 for the development of Middletown Commons in Louisville, Ky. Plans call for the first tenants to open in late 2014.

    The mixed-use power center will include more than 225,000 sq. ft. of retail space and six outparcels ranging from 0.6 acres to 1.88 acres. According to GBT Realty, total development costs will likely exceed $50 million.

  • Kroger buys 12 acres at Hampton Roads Crossing

    Virginia Beach, Va. — Kroger has acquired 12 acres at the Hampton Roads Crossing mixed-use project in Suffolk, Va., according to Divaris Real Estate (www.divaris.com), the broker that represented the seller, Terry/Peterson Investment Thirty, in the transaction.

    Kroger intends to construct a 113,361-sq.-ft. Kroger Marketplace on the site.

  • Forman Mills takes former Kmart in Franklin Park

    Chicago, Ill. — Forman Mills, an off price apparel retailer, has leased 38,487 sq. ft. at Grand Plaza in Franklin Park, Ill., according to CBRE, the leasing agent. The new store plans to open next spring.

    The Forman Mills lease completes the lease up of a 96,260-sq.-ft. former Kmart, which closed in 2011.  

    CBRE began leasing the space in 2012. The first lease was with Big Lots for 29,000 sq. ft. Next came a 29,000-sq.-ft.- lease to Savers Thrift Superstore, which later took another 29,000 sq. ft.

  • Mattress Warehouse to Falls Church, Va., center

    North Plainfield, N.J. — Mattress Warehouse has leased a 21,404-sq.-ft. space at Crossroads Place in Falls Church, Va., according to Levin Management (www.levinmgt.com), the leasing and management agent for the 336,248-sq.-ft. shopping center. The lease signing brings retail occupancy at the center to 100%. JBG Rosenfeld Retail served as the tenant’s broker in the transaction. Plans call for the new store to open in March.

  • IKEA will open in St. Louis in fall of 2015

    St. Louis, Mo. — IKEA plans to break ground on a three-level, 380,000-sq.-ft. building in midtown St. Louis this summer, according to Pace Properties, the broker selected by IKEA to help facilitate the chain’s expansion into the St. Louis market.

    The site is a 21-acre redeveloped tract at the intersection of Forest park and Vendeventer avenues within the 240-acre CORTEX Life Science District in midtown St. Louis.

  • Wendy's sells 49 locations

    Dublin, Ohio — The Wendy's Company has sold 30 locations Austin, Texas and another 19 in the Sacramento, Calif.-area in separate transactions. With the completion of the transactions, the company has now either sold or announced sales agreements for a total of 282 restaurants in 2013 as part of its System Optimization initiative.

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