REAL ESTATE

Columbus, Ohio – A subsidiary of Express Inc. has entered into a franchise agreement with Edcon Group, a retail franchise operator in South Africa, to bring the Express brand to South Africa. The Express brand is expected to launch as a store-in-store concept at select Edgars department stores by the end of 2014 with standalone Express store locations to open in 2015.

Express has identified international expansion as one of the company's four pillars of growth and a significant long-term revenue opportunity for the company.

Playa Vista, Calif. — Marcus & Millichap has arranged the sale of The Shops at Concert Park, a portfolio of two 100% triple-net leased retail condominium shopping centers in Playa Vista, California, a master planned community in the Westside region of Los Angeles.

The buyer paid $16.9 million for the properties. That equates to $743 per sq. ft. The Marcus & Millichap Capital Corp. arranged $10,815 000 in CMBS financing to facilitate the sale.

South Plainfield, N.J. — Advance Auto Parts has signed an 11,382-sq.-ft. lease at Oak Park Commons in South Plainfield, New Jersey, bringing the center’s occupancy rate up to 95%. Charter Realty & Development co-brokered the transaction with NJ Commercial Realty.

The auto parts retailer will be joining Dollar Tree, A&P, McDonalds, CVS, Subway, GNC, Wells Fargo, Goodyear, RadioShack, and H & R Block.

Old Bridge, N.J. — Max Challenge Franchising, a fitness center franchisor, has appointed R.J. Brunelli & Co. as its exclusive national tenant representative.

Max Challenge studios currently operate throughout much of New Jersey, Staten Island, New York, and metropolitan Sacramento, California.

The company is seeking 2,000 to 3,000-sq.-ft. locations in the Hoboken/Edgewater, Montclair, Bergen County and Cherry Hill markets in New Jersey.

Washington, D.C. — The Fairfax, Virginia, City Council has approved a rezoning application for Combined Properties’ Fairfax Circle Plaza. The project aims to redevelop the current strip retail center and replace it with a mixed-use development with up to 400 new apartments and 88,000 sq. ft. of retail including a grocery store.

The project is located at the intersection of two major routes just over a half mile from the Vienna, Virginia, Metro station.

New York — Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, has leased a multi-level space at 45 East 58th Street in the Plaza District in Manhattan, to Caruso, the exclusive Italian menswear label.

The new location will be Caruso’s first in the United States. It will be the brand’s New York flagship and showroom.

Formerly the Spanierman Gallery, the unusually large space encompasses more than 11,000 sq. ft. on two levels.

Bronx, N.Y. — Triangle Equities has reached several milestones in the development of the $35 million, 88,000-sq.-ft. Triangle Plaza Hub at 149th Street in Bronx, New York. The development aims to help revitalize a generally underserved area with a mixed-use commercial and community facility located at a transit center that serves 200,000 people daily. Vista Optical has also leased space.

To date, Triangle’s accomplishments include signing two key anchor tenants: Fine Far supermarket and Metropolitan College of New York.

Nashville, Tenn. — Opry Mills, the largest outlet and value retail shopping destination in Tennessee, has expanded its staff with the addition of three new professions. Natalie Smailis has been named marketing/tourism coordinator. Jamie Phillips will serve as guest services manager. Billy Patton will step into the role of director of operations.