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Real Estate

  • CBRE announces two key hires

    Adam Cummings, an 18-year veteran of retail leasing, has been named senior VP and retail occupier practice leader at CBRE. Cummings will direct retail representation in the mall sector.   The company also announced the return of Matt Kircher as managing director and executive VP of its San Francisco office. Kircher began his real estate caeer at CBRE in the 1990s.  

  • Olshan to Trump competition at ICSC-New York

    Olshan Properties will pay tribute to the new president-elect and fellow developer Donald Trump at the International Council of Shopping Centers New York Deal Making show, which kicks off at the Javits Center on Monday.   Staffers at the Olshan booth will be sporting blue “Make Retail Great Again” baseball caps as they promote a message, said a release, of elevating retail to bring local communities together by connecting with their hometown shopping centers.  

  • S2 Capital has expansion plans for Richmond-area center

    McLean, Virginia-based S2 Capital Partners has purchased an 8-acre center on the outskirts of Richmond with plans to build it out to its full potential.   The company paid $12 million for the 52,000-sq.-ft. Stonebridge Marketplace, and principal Rob Seidel told Richmond Biz Sense that it plans to add 7,200-sq.-ft. and 8,400-sq.-ft. buildings to fill out the strip that fronts a 123,000-sq.-ft. Kroger Marketplace.   Current tenants include Firestone, Panda Express, Mattress Firm, Qdoba, and AT&T.

  • Gainesville center sold for $2.8 million

    University Towne Center in Gainesville, Florida, has been sold at auction to Pacific West Land for $2.8 million. Crossman & Company negotiated the deal on behalf of the seller, a south Florida special servicer.   The 18,496-sq.-ft. center is close to the University of Florida campus and to Butler’s sprawling retail complex, which is itself expanding with a town center called The Neighborhoods at Butler.   

  • Cole buys Baltimore Sam’s Club property

    VEREIT has purchased a 10.5-acre Sam’s Club property in Timonium, Maryland—just north of Baltimore — for $18.3 million in cash.   “The seller was able to secure an early lease extension prior to the sale, which created a well-positioned, long-term passive investment for the new ownership,” said Jon Busse, Senior VP at Colliers International, which handled the deal on behalf of the seller, Diamond Timonium LLC.  

  • U.K. activewear retailer has big plans for the U.S. market

    Move over Lululemon and Athletica, Sweaty Betty is moving onto your turf.   The London-based retailer of stylish activewear for women opened its ninth U.S. store — and third location in the Los Angeles area — on Melrose Ave. in West Hollywood, reported The Los Angeles Times, with a location in San Francisco up next.  

  • New York Retailer Market Update: Too Hot, or Not?

    The ICSC New York Conference is one of the larger gatherings of retail real estate professional’s on the calendar – and is an important touch point for professionals in the NYC market. Ahead of the show, Bob Gibson, retail vice chairman of JLL, based in New York, shared his take on this expansive and important retail market.  

  • Hudson Yards retail component is 60% leased

    After Neiman Marcus announced it would open its first New York store at Hudson Yards — the biggest development in that town in recent history — retail leases are being signed at a torrid pace.   According to developer Related Urban, The Shops & Restaurants at Hudson Yards are 60% leased more than two years before their scheduled opening in fall 2018.  
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