Retail
Pop-Up Shops Going Global
The effects of e-commerce on brick-and-mortar are on the rise and players from both sides of the line are increasingly turning to popup space. CPE talked to Patrick Burkert, co-founder & CMO of Go—PopUp, about the niche’s relationship with classic real estate and about the future of the field.
New York Life Secures NJ Retail Refi
EDENS’ 208,337-square-foot Closter Plaza in Closter, N.J., is home to big names such as Whole Foods and Target, and is the only shopping center within a 5-mile radius.
Retail RE Veteran Named Lat Purser VP
Jimmy Penman Jr. joined Charlotte-based Lat Purser & Associates in 2015 as director of leasing. He has now been promoted to the executive team and named vice president.
Mizrahi Begins Construction on Canada’s Tallest Tower
The One, a residential and retail project designed by Foster + Partners, will be an 85-story addition to Toronto’s skyline.
Simon Breaks Ground on Denver Premium Outlets
The company has begun work on its 92nd Premium Outlets destination. The property will be the only outlet center serving the north side of Denver.
ORION Facilitates Phoenix Retail Center Sale
Paragon Southern Plaza LLC sold the 16,980-square-foot property for $1.8 million. Southern 19 Plaza is located in a strong trade area near a major artery in the city.
Philly Investor Nabs Shopping Center in the Metro
The 359,673-square-foot property boasts good exposure and is situated off a major junction in Exton, Penn., only 30 miles from Philadelphia.
Branch Buys $110M Grocery-Anchored Retail Portfolio
The portfolio encompasses properties anchored by Publix, Kroger and Whole Foods, totaling 876,153 square feet of space. HFF secured the $110 million seven-year, fixed-rate loan.
Mammoth Brooklyn Retail Condo Hits the Market
The 59,930-square-foot retail structure occupies two full city blocks in the Waterfront/Kent Avenue retail corridor and is part of The Edge luxury condominium complex.
Baceline Acquires 2 Shopping Assets for $12M
The company acquired its first North Carolina shopping center when it acquired Galleria Village, which is currently 83 percent leased to various tenants. The company also bought Central Plaza in Minnesota, another shopping center, that is currently 92 percent occupied.