R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined — December 18 - January 14, 2020 — 13A
www.marej.com
OMERS POINT, NJ — Somers Point Plaza will welcome a new 101,000 Richard Soloff &David Dunkelman rep. Dollar General in its 34th new store in Philadelphia Soloff Realty and Development represent Brahin Properties in 101,000 s/f lease at Somers Point S
remained open throughout the pandemic and have continued to experience elevated demand by providing an affordable, convenient retail option for cost conscious consumers. Seven Recent Grand Open- ings: Pennsylvania: Philadelphia – 5155 Lan- caster Avenue Philadelphia – 7564 Haver- ford Avenue Allentown – 1167 MacAr- thur Blvd. Southern New Jersey: Atlantic City – 621 Atlantic Avenue Pine Hill – 207 Berlin Cross Keys Road Stratford – 222 S. White Horse Pike Mantua – 271 Lambs Road Richard Soloff and David Dunkelman of Soloff Re- alty and Development, Inc. exclusively represent Dollar General in the Philly Metro Region. MAREJ Center in Pompano Beach is being sold to Elion Part- ners for $11.65 million. Katz & Associates’ Jon Cashion , Eric Spritz , and Leandro Pereira represented HAR- BAR-PB3141, LLC, and Cush- man & Wakefield’s Rick Etner Jr. represented Elion Partners. Located at 3141 SW 10th St., the distribution center is one of the largest existing indus- trial buildings in the area. The facility was no longer needed by Bennett Auto Supply nor O’Reilly Automotive, which acquired the auto parts related assets of Bennett in 2018. “Existing buildings of this size and caliber don’t often trade in this area, so it was ex- citing to be a part of this unique transaction,” said Cashion and Spritz. “It’s been great to work with Bennett Auto Supply, a family company that has such long- standing ties and has given so much support to the South Florida community.” MAREJ
s / f T a r g e t store at the site of the for- mer Kmart in Somers Point, according to Solof f Re - alty and De- velopment, I n c . w h o brokered the transaction. Richard Sol- off represent- ed the land- lord Brahin Properties, Inc . he ad - quartered in Philadelphia,
Richard Soloff
Somers Point rendering
prime shop spaces and a Junior Anchor position are available (view brochure). Somers Point Plaza is a 279,026 s/f regional Commu- nity Shopping Center on 35 acres. It features more than 25 stores including ACME Mar- kets, PetSmart, West Marine, Big Lots, VerizonWireless, and Chipotle Mexican Grill. The Kmart store was closed last year when Sears Holdings, s/f building that housed Pilgrim Furniture and Bob’s Stores. It will now be converted to a single-story, prototypical Floor & Decor store. Katz has been involved with this site for the past decade, culminating with the sale to Floor &Decor. When Linens ‘n Things vacated in 2010, Katz successfully leased the space to Pilgrim Furniture. Then, when Bob’s Stores vacat - ed in 2018, Katz began working on a lease transaction for Floor & Decor which converted to a sale when the owner decided to sell the property. For the Fairfield location (lo - cated at 290 Tunxis Hill Rd.), Katz facilitated the lease for Floor & Decor which will fill the former Kohl’s space along with Aldi. These new locations will be the first in Connecticut, joining Floor & Decor stores across the country to offer the broadest in-stock selection of flooring, tile products, and re - lated accessories at everyday low prices. “It’s great working with Floor
the parent company of Sears and Kmart, closed four addi- tional New Jersey stores. PHILADELPHIA, PA — Dollar General celebrated the grand opening of their 34th store in Philadelphia last week at 5155 Lancaster Avenue in West Philadelphia joining a newWine & Spirits Shoppe and a new Boston Market coming soon. The retail project was developed by Abrams Realty & Decor as they expand in the metro New York area. It’s ex- citing to help this best-in-class retailer open their first two Connecticut stores and being a part of the evolution of the Danbury site over the past 10 years,” said Brian Katz. “Resi- dents of Danbury, Fairfield, and beyond will benefit greatly from these new locations.” MANHATTAN, NY — Katz & Associates is helping con- venience retailer 7-Eleven grow its Manhattan footprint. Katz’s Scott Sher represented 7-Eleven for three newManhat- tan locations for a combined total of over 8,000 s/f. The new stores are slated to open in Q1 2021. The new 7-Eleven locations include: • 675 8th Ave. (3,471 s/f); landlord rep by David Green and Zach Nathan of Colliers International • 800 6th Ave. (2,800 s/f); landlord represented by David Yablon of Katz & Associates • 110 Church St. (2,500 s/f);
& Development of Elkins Park, PA. This is Dollar General’s 34th store in the city of Phila- delphia and one of seven new store openings within the last few months in the region. Soloff Realty and Develop- ment, Inc. represents Dollar General in the Philadelphia Metro Area. The company’s stores, which were deemed essential, have landlord represented by Ross Berkowitz, Jake Siegel, and Andrew Stern of Newmark Group “7-Eleven is a great tenant in any real estate market, and they’ve been exceptional to work with during these unique and challenging times,” said Scott Sher, managing direc- tor, Katz & Associates. “They are leveraging the opportunity to find new locations that in some cases may not have been available to them prior to the pandemic. 7-Eleven realizes that New York City will be back to business as usual in the near future so they are wisely making moves to ensure their long-term success in what is, in ‘normal’ times, the best retail market in the country.” 7-Eleven continues to be an active tenant, working with Sher for additional prime, high- traffic locations; 2,500 s/f corner properties are ideal. POMPANO BEACH, FL — The 93,000 s/f former Ben - nett Auto Supply Distribution
David Dunkelman
PA. The landlord will be com - pleting extensive renovations to the shopping center façade, parking lot, and lighting, in conjunction with the new Tar - get store opening. Several
Brian Katz executes two deals totaling 154K s/f to bring first Floor & Decor Stores to CT - One sale, one lease - Danbury & Fairfield
DANBURY&FAIRFIELD, CT — Brian Katz, CEO of Katz & Associates , an-
nounced that Katz repre- sented Floor & Decor in deals to bring the retailer’s f i r s t t w o Connecticut stores to mar- ket. In Dan-
Brian Katz
bury, Brian Katz facilitated the sale from Realty Income to Floor & Decor on a 12-acre property. He also represented Floor and Decor for the lease in Fairfield, CT, which will fill the site formerly held by Kohl’s, in co-tenancy with a new Aldi grocery. The new Floor &Decor stores (74,000 s/f in Danbury; 80,000 s/f in Fairfield) are slated to open in the first half of 2021. For the Danbury location, Floor & Decor bought the prop- erty (located at 114 Federal Rd.) which was formerly oc- cupied by a two-story,150,0000
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