Mexican chain headed for the ‘Boro
Posted on November 4, 2009 at 12:13 pmChuy’s, the Mexican restaurant concept run by former O’Charley’s president Steve Hislop, will open its second Nashville-area spot on Murfreesboro’s Northwest Broad Street next spring.
SEE ALSO: Former O’Charley’s exec on the move with new concept
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CBL’s progress and stability
Posted on at 7:57 amThe boss of Chattanooga-based mall operator CBL — which runs three of the Nashville area’s largest shopping hubs — says he’s encouraged by “improving trends.” Occupancy rates rose by at least one percentage point in every one of the company’s categories, but shoppers appear to be giving smaller operators an especially hard time: Same-store sales for tenants occupying less than 10,000 square feet fell more than 6 percent from a year ago.
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Deutsche unit picks Crosland for local management contract
Posted on October 22, 2009 at 3:12 pmRREEF, a real estate investment subsidiary of Deutsche Bank, has offloaded the management of more than 11 million square feet of property from New England to Texas to five firms, one of which is Crosland. A spokeswoman says the firm will take over the day-to-day running of Providence Marketplace, the $75 million shopping center it developed with Carolina Holdings before selling a majority stake to RREEF in 2007. Crosland, which also built the Terrazzo tower in The Gulch, will manage three sites in the Carolinas as well.
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No Lowe’s for Spring Hill
Posted on October 20, 2009 at 10:10 am
The home improvement retailer has hired Atlantic Retail Properties to sell an acre where it had planned to build its second Spring Hill store. The company runs about 15 outlets in the Nashville area.
Illinois restaurateurs eyeing local outpost
Posted on October 13, 2009 at 8:17 am
The team at Restaurants America plan to bring their Bar Louie concept to Nashville. The company is franchising across the Midwest but this summer had to close its Phoenix-area location.
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Retail property market begins to groan
Posted on October 9, 2009 at 1:46 pm
Vacancy rates at strip centers reached a 17-year high last quarter, according to a new study. Rents haven’t dropped too much yet, but observers say it’s only a matter of time.
“Since asking and effective rent growth only turned negative about one year ago, it is daunting to observe this acceleration in decline in what has traditionally been regarded as a stable property type,” Calanog said.
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Car care center eyes Franklin
Posted on October 2, 2009 at 8:18 amThe Memphis company behind the Cecil’s Automotive group of auto maintenance stores wants to buy into Franklin next year. One site we’re guessing they’ve already looked at: The former Driver’s Way building on Mallory Lane.
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CBL extends debt deal
Posted on September 29, 2009 at 8:29 amMall owner CBL & Associates has negotiated with its bank to extend the maturity of more than $500 million in debt by two years. CFO John Foy said the deal is “a demonstration of the strength of our lending relationships and the confidence they have in our business.”
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Blockbuster in survival mode, will close stores
Posted on September 16, 2009 at 7:28 amEntertainment retailer Blockbuster says it will close at least a sixth of its U.S. stores — a minimum of 810 — by the end of next year as it looks to get back to profitability. Based on a Nashville-area network of more than a dozen locations, expect at least two to here get the ax.
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Survey says Nashville retail will bounce back early
Posted on September 15, 2009 at 3:11 pmA poll of real estate investors conducted by PricewaterhouseCoopers says the commercial real estate market as a whole will be in recession until at least 2011. But among retail markets, Nashville is perceived to be one of just a handful of markets that will regain their strength more quickly.
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Cosmetic Market heads down 24
Posted on September 14, 2009 at 6:43 am
Linda Roberts’ five-year-old Cosmetic Market venture is preparing to open its fourth location — and first outside the Nashville area — in a renovated Chattanooga warehouse.
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Gigi’s expanding to the ‘Boro
Posted on August 31, 2009 at 7:08 am
For those of you keeping up with cupcake mania: A pair of sisters are working toward a fall opening of a Gigi’s Cupcake outpost across the street from the Avenue shopping center of I-24 in Murfreesboro.
Green Hills mall owners testing market waters
Posted on August 21, 2009 at 7:30 amGreen Hills residents driving by area favorite La Paz Restaurante Cantina might stop and gape thanks to some startling signage. Outside of the Cleghorn Avenue eatery stands a sign advertising that the property is for lease.
But fans of the restaurant can rest assured. According to the property’s owner, Illinois-based Davis Street Land Co., the signage is only an effort to “determine the market rate of that property.” The company’s local rep said his team is in talks with La Paz’s owners for leasing as well, but added no change of tenant is in the works in the near future.
Davis Street made a concerted effort to purchase the property in 2007 when it was thought the parcels would be involved in a mall expansion driven by Nordstrom’s arrival.
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Mt. Juliet shopping center signs three
Posted on August 20, 2009 at 9:47 amDeveloper Crosland has signed on a handful new tenants to its Providence MarketPlace retail center in Mt. Juliet. The company announced yesterday three new tenants will take up a combined 7,426-square-feet of the 830,000-square-foot center.
Trendy national clothing retailer rue21 — which bills itself as offering prices 25 to 50 percent below the competition — will take up 4,210 square feet of space. Body Shop Fitness, a specialized personal training facility, has signed on for a 1,842-square-foot space. The gym plans to open its doors in May. Later this month, Cori’s DogHouse, a restaurant serving hot dogs and sausages, will open in a 1,374-square-foot-space.
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Retail’s weakest really wobbling now
Posted on August 5, 2009 at 8:25 am
The second-quarter numbers from mall operator CBL & Associates give us a glimpse of where the retail sector is feeling the most pain: Malls that already were struggling and smaller strip centers. The company’s higher-end destinations — such as the Cool Springs Galleria — are holding their own when it comes to occupancy, although CBL says sales for non-anchor tenants slipped 6 percent from a year ago
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