REAL ESTATE

  • Corner Bakery Café to enter Indianapolis

    Dallas -- Corner Bakery Café has signed a new multi-unit development agreement to open its first restaurants in Indianapolis beginning later this year and the remaining sites over the next six years.

  • New white paper addresses retail project management challenges

    New York -- A new white paper from Austin, Texas-based Accruent offers retailers insights into key project management challenges.

    Called “The Business Case for an Automated Project Management Solution,” the paper discusses ways to maximize store profitability by reducing the time and cost required to open new locations. It also summarizes research findings that support automating project management toward portfolio-wide visibility and maximum real estate asset value.

  • Huntington Plaza in Monrovia, Calif., sells to private buyer

    Los Angeles — A private buyer has acquired Huntington Plaza, a 57,148-sq.-ft. shopping center in Monrovia, Calif., in the San Gabriel Valley. Anchored by Sprouts Farmers Market and Walgreens, the center was 96% leased at the time of the sale. The tenant roster includes McDonald’s, Jersey Mikes, Flame Broiler, Great Clips and Pacific Dental.

    The owner engaged Studley and Colliers International to offer the property for sale. The two companies have jointly handled the leasing of Huntington Plaza for more than six years.

  • CBRE named top real estate brand for 13th year

    Los Angeles — The Lipsey Company has named CBRE Group the top global brand in commercial real estate for the 13th consecutive year.

    A training and professional development firm specializing in commercial real estate, Lipsey has surveyed commercial real estate professionals on their perceptions of the industry’s leading brands since 2001. More than 100,000 U.S. and international professionals participated in the 2014 survey. Respondents included property owners, investors, lenders, occupiers, brokers and property managers.

  • Report: Cumberland Farms sells 27 stores

    Framingham, Mass. – Cumberland Farms is reportedly selling 27 stores in New Jersey, Delaware, and Pennsylvania, to Petroleum Marketing Group, based in Woodbridge, Va. According to the Boston Globe, the stores will continue to operate as convenience stores and all roughly 600 affected employees are expected to keep their jobs.

    Cumberland Farms will focus on its nearly 600 remaining stores in New England, New York, and Florida. Both companies are private and terms were not disclosed.

  • Gap set to open three-story flagship in Taiwan

    TAIPEI -- Gap will officially open its first Taiwan flagship store on March 8 as part of its ongoing strategy to expand Gap’s global footprint. With plans to open about 30 Gap stores across its Greater China region, including three in Taiwan, the brand expects to have more than 100 stores by the end of fiscal 2014.

  • Trademark to manage and lease Highland Village, Texas, Center

    Fort Worth, Texas — Trademark Property Co. will oversee management, retail leasing and redevelopment analysis for The Shops at Highland Village, a 351,631-sq.-ft. open-air retail center in Highland Village, Texas, serving affluent communities in southern Denton County.

  • RMC acquires a Palm Harbor, Fla., shopping center

    Tampa, Fla. — RMC Property Group has acquired a 60,000-sq.-ft. shopping center in Palm Harbor, Fla., for $6.75 million, or $112 per square foot. It is located at the intersection of U.S. Highway 19 and Nebraska Avenue.

    Anchor retailer Office Depot leases 100% of the center, which was built in 1997.

  • Nordstrom to open second location in greater Austin market

    Seattle -- Nordstrom announced plans to open a full-line store at The Domain in Austin, Texas. The two-level, approximately 123,000-sq.-ft. store is scheduled to open in fall 2016 and will be the company's second full-line store serving the greater Austin area. The Domain is owned and operated by Endeavor Real Estate Group.

  • Kroger plans North Texas expansion, store refresh

    Cincinnati – Within the next 24 months, Kroger will build six new stores and expand three locations, along with opening multiple fuel centers and remodeling existing properties in the North Texas area. Kroger has already begun a store refresh program in the region that includes lower prices on thousands of popular food and household items, along with a renewed emphasis on shopping experience, fuel discounts, local products and community relations.

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