Northmarq’s Pacific Northwest team of Sean Tufts, Kevin Adatto and Joe Dugoni has completed the $12.9 million sale of Westgate South #ShoppingCenter in #Tacoma, Washington. “Our involvement with Westgate South spans nearly two decades and multiple sales including this $12.9 million disposition,” said Tufts. “We’re thrilled to have helped a great client execute the full strategy, and we’re excited for the new buyer to continue to expand their portfolio in the Northwest.” The neighborhood retail center features a diverse mix of national and local tenants, including a freestanding Comfort Dental, and is shadow anchored by Safeway, Big Lots and Planet Fitness. #Northmarq #CRE #Retail Read more: https://lnkd.in/ehXV-mWm
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Denver's retail market is booming with high demand and low vacancy rates. Retailers expanding in California, Arizona, and Texas are now considering the greater Denver market sooner rather than later. Tami Lord, Senior Vice President at SRS Real Estate Partners, notes, "With new brands entering the market and local companies expanding, the competition for quality space is fierce. While this is great for existing centers, the lack of new development is concerning." Click the Colorado Real Estate Journal article to read more into this story and the growth of Denver's retail market ➡️ https://lnkd.in/dFmWs_zi #DenverRetail #RealEstateTrends #SRSRealEstate
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🚨 UPDATE: Change of plans! 🚨 Unfortunately, I won't be able to make it to the Ridgefield market tomorrow 😔 But fear not, because I've got some exciting news! 🥳 Instead, I'll be busy moving a fabulous display case into the Three Rivers Mall for a brand new store that I'll be selling some of my products at! 🛍️ Stay tuned for more updates on this exciting venture! 💫 #ChangeOfPlans #NewBeginnings #ThreeRiversMall
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In Detroit, retailers continue to display a preference for multi-tenant and mixed-use spaces as redevelopments like the former Northland Shopping Center in Southfield attract big leases, even years before opening. What do you think are the driving factors for this? #cre #commercialrealestate #realestate #retailrealestate
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For years, retailers have flocked to set up shop in “it” neighborhoods in New York City. Before the #pandemic, as well as during the first couple years of its recovery, #Soho and #Nolita reigned supreme, with Valentino, Wilson Sporting Goods Co. and Vuori all opening stores there. #Williamsburg has also been buzzy among #DTC businesses, thanks to its chic cafes, thrift stores and waterfront views. Now, tides are shifting, and brands of all types and sizes — not just high-end ones — are making the move to #Midtown. Much of this is due to a major revamping of Rockefeller Center, which encompasses six square blocks. All in all, it’s a promising sign for the continued post-pandemic recovery of New York City, one of retail’s biggest markets and a major business capital. Read more: https://buff.ly/4aBhrPp
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"Incoming opportunities in the urban core bolster recovery downtown." What are your thoughts on the Pittsburgh retail market? Let us know in the comments, and count on us to keep you informed. Read the full report here: https://ow.ly/IIUn50RlkCU #UrbanCoreOpportunities #DowntownRecovery #PittsburghRetail #RetailMarket #RetailTrends #MarketInsights
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Did you know the Dallas-Fort Worth area is experiencing a remarkable resurgence in retail? With a booming population and an impressive 95.2% retail occupancy rate, the demand for retail space is skyrocketing. We're witnessing 847,000 square feet of development unfolding thanks to an enduring population increase and a savvy blend of strategic investment that aligns perfectly with consumer needs. Whether it’s the thriving neighborhood centers, mixed-use spaces, or the transformation of traditional malls, DFW is setting the pace for retail rejuvenation. This is a golden era for investors and retailers looking to tap into North Central Texas's burgeoning market. #CommercialRealEstate #RetailResurgence https://lnkd.in/gkjmnFgj
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Detroit's shopping malls have shown resilience and innovation over the past few years, adapting creatively to market shifts. 🏢 With even more significant developments this year, we're looking at an evolving landscape where these retail hubs are not just responding to change, but are at the forefront of it. For insights into the evolving landscape as businesses strategize to meet their demands, check out this Crain's Detroit Business article: ▸ https://lnkd.in/ggWxz9Xf 📸: CoStar Group Inc. #IntegrisVentures #CRE #RealEstateOperator #Detroit #DetroitRetail
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Sr. Director of Market Analytics at CoStar - I provide insights on office, industrial, retail, and apartment market trends in Southern California
How Will 99 Cents Only Store Closures Impact Orange County? Retail Vacancy in Garden Grove, California, To Rise Most The discount retailer occupies over 500,000 square feet in Orange County. Anchor spaces below have been listed available for lease. - Yorba Linda Center, Placentia - asking $1.95 NNN - 14731 Goldenwest St, Westminster - asking $2.00 NNN - Red Hill Village, Tustin - Brookfield Promenade, Huntington Beach - Lake Forest Town Center - College Plaza Shopping Center, Fullerton - Pinnacle Plaza, Anaheim In early April, discount retailer 99 Cents Only announced that it would close all 371 of its stores across Arizona, California, Nevada and Texas. The majority of those storefronts are in Southern California, where a group of investors led by the former president of Big Lots and CEO of Pic ‘N’ Save Bargains is positioning to reopen 143 stores, following the initial closures and liquidation sales. 99 Cents Only — which is seeking Chapter 11 bankruptcy protection — occupies more than 90 locations in Los Angeles County, nearly 50 in the Inland Empire, 26 in Orange County and just over 20 in San Diego County, according to CoStar research. CoStar subscribers may read more here https://lnkd.in/gRZ3-9pA #99CentsOnly #orangecountyretail #OCRetailCRE
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Understanding Prime Retail Property in Victoria, Texas ✅ Let's explore a fantastic retail space in Victoria, TX! This 33,400 sq. ft. multi-tenant shopping center, anchored by Planet Fitness and shadow-anchored by Aldi, offers a great example of strategic retail placement. Located at the high-traffic intersection of Navarro and Sam Houston Drive, this center benefits from over 37,000 cars passing by daily, providing excellent exposure for its tenants. With multiple access points and minimal improvements needed, it showcases how long-term leases and strategic positioning can maximize customer reach and investment potential. Victoria, TX, serving a population of 111,663 in the Victoria MSA, highlights the importance of location in retail success. Key intersections with signalized traffic control, like this one with a Walgreens on the hard corner, demonstrate how accessibility and visibility are crucial for retail hubs. #RetailInsights #VictoriaTX #CommercialRealEstate #PrimeLocation #HighTraffic #UrbanPlanning #RetailStrategy #EconomicDevelopment
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Tue 2024-02-13 11:01 THE FUTURE OF NYC'S STOREFRONTS Join us for a morning of profound insights from esteemed keynote speakers who will unravel the intricate challenges and triumphs of New York City's storefronts hosted by TD Bank at the iconic One Vanderbilt. Storefronts, which are primarily retail shops and restaurants on the ground floors of buildings, are a vital part of New York City’s streetscapes. They were uniquely threatened during Covid shutdowns because of the innate face-to-face nature of their services. The result: a significant loss of businesses and jobs. However, the recent resurgence of storefronts has helped to drive the city’s recovery. So what is the current state of storefronts and where are we headed? What is the future of New York City’s storefronts? Wednesday, February 28, 2024 8:30 AM (In-person) Contact: One Vanderbilt New York NY 212-473-7875 events@manhattancc.org
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Executive Managing Director at Northmarq
1moCongrats on a great outcome for the client!