REAL ESTATE

  • Report: L. Brands expanding internationally

    New York -- L Brands Inc., parent of  Victoria's Secret, is bullish when it comes to foreign expansion. The company opened 160 international stores in 2013, for a total of 863 locations. It hopes to add more than 140 this year, according to Columbus Business First.

    Victoria's Secret expects to open 100 stores in 2014, including six additional locations in the United Kingdom, the report said.

  • Divaris finalizes four new retail leases in Richmond metro

    Virginia Beach, Va. — Divaris Real Estate has announced four new retail leases in the greater Richmond area.

    Friendly Motors has leased 5,000 sq. ft. in the Divaris-leased and –managed Belt Trade Center.

    Zoe’s Kitchen has taken 2,800 sq. ft. in The Corner at Short Pump. DRE’s Richmond office represented the tenant in the negotiations.

  • Report: Gap plans China expansion

    San Francisco – Gap Inc. reportedly plans a substantial increase in its Gap and Old Navy store count in China during the next several years. Reuters reports that Gap plans to add 30 stores to its existing 81 Chinese locations.

  • A bigger Belk

    Charlotte, N.C. — Belk has announced a $12.6 million expansion and renovation of its store in Cool Springs Galleria, a 1.1 million-sq.-ft. mall in Franklin, Tenn., a suburb of Nashville. CBL & Associates Properties and TIAA-CREF own the center jointly.

    Belk plans to create a new fashion flagship store for the greater Nashville region.

  • Dunkin’ Donuts seeks Alabama franchise growth

    Canton, Mass. – Dunkin’ Donuts is recruiting franchisees in Dothan, Ala. Currently, there are 18 Dunkin’ Donuts restaurants located throughout Alabama. To help fuel growth in Dothan, special development incentives are available, which include reduced royalty fees for three years and up to $10,000 in local store marketing.  

  • Inland REIT acquires Park Avenue Center in Little Rock, Ark.

    Oak Brook, Ill. — Inland Real Estate Income Trust has acquired the 69,381-sq.-ft. Park Avenue Shopping Center in Lille Rock, Ark., for $28.12 million. IREIT Business Manager & Advisor assisted Inland Real Estate Acquisitions in the transaction.

  • Aventura Mall to add three-level upscale wing

    Aventura, Fla. -- Aventura Mall, in the Miami suburb of Aventura, plans a significant expansion that will include a new three-level, 241,000-sq.-ft. retail wing and parking garage. Construction is expected to begin in 2014.

    Located between Miami and Fort Lauderdale, Aventura Mall currently measures 2.7 million sq. ft.

  • As fast-casual segment grows, restaurants get aggressive by re-thinking real estate strategies

    By Carrie Smith, [email protected]
    It is undeniable that fast-casual restaurant chains in North Florida and South Georgia are resuming their expansion plans. The local unemployment rate ended 2013 under 6%, home building permits jumped nearly 30%, and car sales climbed — all signs of an improving local economy.

  • Mid-America brokers sale of Park Ridge, Ill., center

    Oakbrook Terrace, Ill. — Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Shops of Uptown in Park Ridge, Ill. Phillips Edison-ARC REIT purchased the 70,402-sq.-ft. center for $27 million.

    Trader Joe’s anchors the center, which also hosts Jos. A. Bank, Chico’s, LensCrafters Optique, Houlihan’s, Jason’s Deli and Noodles & Company.

  • Robert Graham plans new Arizona store

    New York -- Robert Graham has signed a new lease agreement to open a branded retail store featuring the full Robert Graham collection in Scottsdale Fashion Square, Scottsdale, Ariz. The store, slated to open in spring 2014, will carry the complete range of Robert Graham, including men's sportswear, premium denim, footwear, furnishings, accessories, outerwear, and women's sportswear.  

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