REAL ESTATE

  • Fannie May Fine Chocolates in 62-store franchise deal

    Carle Place, N.Y. -- 1-800-Flowers.com announced Tuesday the signing of a 45-store franchise development agreement for its Fannie May Fine Chocolates division with GB Chocolates. The agreement calls for 45 new Fannie May franchise stores beginning in December 2011, with all open and operating by year-end 2014.

    The first three stores under the agreement are slated to open in Minnesota in time for the Christmas holiday. The agreement provides exclusive development rights for several Midwestern states as well as specific cities in Florida and Ohio.

  • Levin tenant survey: Most are optimistic for the holidays

    North Plainfield, N.J. -- Shopping center owner and manager Levin Management Corp., in its annual pre-holiday survey, found that more than a third of its retail tenants predict 2011 sales will be higher than 2010’s, while just 18.9% project a drop in sales for the 2011 holiday season.

    The remaining 44.2% expect this year’s holiday sales to mirror last year’s.

  • New retail concept for kids makes Chicago debut

    New York City -- A new retail concept, Wonder!, has opened it first location in Deerfield, Ill. The 135,000-sq.-ft. space is intended as a one-stop shopping solution, focused on children ages birth to seven years. It combines a broad selection of product (including baby gear, furniture, bedding, apparel, and toys) with an array of experiential elements.

  • Golden Triangle Mall acquired, to be redeveloped

    Dallas -- GTM Development, a limited partnership created by The MGHerring Group and Cencor Realty Services, said it has completed the acquisition of Golden Triangle Mall in Denton, Texas.

    MGHerring will be responsible for the redevelopment of the 765,000-sq.-ft. Golden Triangle Mall, which will begin in early 2012 with a grand reopening slated for next fall.

    Cencor manages the mall while MGHerring and The Weitzman Group, Cencor’s brokerage affiliate, jointly lease the property.

  • Blakeney announces new leases, expansions

    Charlotte, N.C. -- CNL Crosland Commercial Real Estate announced two new tenant signings and an expansion for an existing retailer at Blakeney, a retail shopping center in south Charlotte, N.C.

    Flywheel Sports is slated to open at Blakeney in January. Accessory boutique Bijuju opened earlier in November, and Creative by Nature Home doubled its square footage and moved into a new space in September.

  • City Sports opens 21st store

    Silver Spring, Md. -- City Sports has opened its 21st store, in downtown Silver Spring, Md. It is the retailer’s second location in the metro D.C. area to open in the past year.

    The store features an interactive electronics section that offers shoppers the use of in-store iPads to access information about products and the ability to wear-test headphones.

  • Ulta opens at Springdale Mall

    Mobile, Ala. -- Brixmor Property Group announced that Ulta has opened a 12,017-sq.-ft. store at Springdale Mall, located in Mobile, Ala.

    Brixmor, based in New York City, is the owner of Springdale Mall.
     

  • Burke’s Outlet opens at Island Plaza

    James Island, S.C. -- Brixmor Property Group announced that Burke’s Outlet has opened a 26,680-sq.-ft. store at Island Plaza, located in James Island, S.C.

    Island Plaza is owned by Brixmor, based in New York City.
     

  • Report: U.S. retail availability expected to decline in 2012

    Boston -- A report released Monday by CBRE Econometric Advisors, a division of Los Angeles-based CBRE Group, said that the U.S. retail real estate sector’s availability rate is expected to decline to 12.4% by the end of 2012.

    In 2013, the national retail availability rate, including neighborhood and community centers, will drop further, reaching 11.7%.
     
    In third quarter 2011 the retail availability rate was 13.2%. This rate remains well above the previous availability peak of 11.3% set in second quarter 1992.

  • Stirling announces exec promotion

    Covington, La. -- Stirling Properties announced it has promoted Chris Abadie to VP and manager of the Commercial Brokerage Division after 11 years as a sales and leasing executive with the company.

    In his new role, Abadie will oversee all aspects of commercial operations throughout each of Stirling Properties brokerage offices located in Louisiana and Mississippi. 
     

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