REAL ESTATE

Cleveland, Texas — Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.

Virginia Beach, Va. — lululemon has leased a 3,200-sq.-ft. store at the Town Center of Virginia Beach. Like recently announced Anthropologie and Free People, lululemon will be the first and only store of its kind to open in Hampton roads, Virginia. In addition, Destination Maternity and It’s Sugar recently opened at The Town Center. lululemon plans to open during the fourth quarter of this year.

Virginia Beach, Va. — Free People has signed a lease for 3,200 sq. ft. at the Town Center of Virginia Beach. The retailer plans to open its doors in the fourth quarter of 2014.

Fort Worth, Texas — Trademark Property Co. is managing the major expansion and renovation of Saddle Creek in the Memphis, Tenn., suburb of Germantown.

Demolition has commenced on 20,000 sq. ft. of existing space on the southwest side of Poplar Avenue and West Street, with work scheduled to begin soon on 40,000 sq. ft. of new retail space for that area.

Goodlettsville, Tenn. — Dollar General plans to expand its nationwide presence into three new states within the next year, increasing the company’s presence to 43 states across the country. The discount retailer will begin construction on stores in Maine and Rhode Island in fall 2014, with plans to expand into Oregon in early 2015.

Cincinnati, Ohio — Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.

Oak Brook, Ill. — The Inland Real Estate Group of Cos. has appointed Chong P. Huan chief information officer. He will direct all information technology initiatives for Inland and its member companies. In addition, Huan will serve as CEO of Inland Computer Services, Inland’s in-house IT and computer services department.

Store closings are hardly an infrequent topic in this space. As a barometer for both the performance of individual brands and the market at large, they are an important part of the equation for any retail analyst. Store closings are part of healthy portfolio management for any brand, and, on a larger scale, bankruptcies and reorganizations are a reflection of the market at work.