REAL ESTATE

  • Ingenuity and NYSE REIT to combine on JVs

    Virginia Beach, Va. — Ingenuity Development has entered into a strategic alliance with a New York Stock Exchange-traded Real Estate Investment Trust (REIT) to combine forces on joint venture opportunities for retail and mixed-use projects in the Mid-Atlantic and the Southeast. Ingenuity will also see opportunities to work with its affiliate, Divaris Real Estate, to lease and manage completed projects.

  • Pine Tree names Ryan Montes property manager

    Northbrook, Ill. — Pine Tree Commercial realty has appointed Ryan Montes to the post of property manager and asset management coordinator. Montes will manage three Pine Tree assets, while overseeing quarterly asset management meetings and portfolio reporting.

    Montes comes to Pine Tree from Miller Capital Advisory’s asset management and reporting group, where he handled reporting and analysis for over 10.4 million sq. ft. of regional and lifestyle shopping centers.

  • Cobbs Ford Village in Prattville, Ala., adds tenants

    Nashville, Tenn. — GBT Realty has announced that Firehouse Subs, Aspen Dental, Bama Fever Tiger Pride, Smashburger and Edible Arrangements will be coming to Cobbs Ford Village, a new in-line shopping center in Prattville, Ala.

    Starbuck’s and Gigi’s Cupcakes have already opened at the shopping center, and Chipotle will open in mid February. Two 1,600-sq.-ft. places remain available.

  • Lloyd Center to acquire department store space

    Portland, Ore. — Cypress Equities, the management company for Lloyd Center in Portland, Ore., has announced that the Center’s owners intend to purchase the 130,000-sq.-ft. building currently owned and occupied by Nordstrom. The acquisition is part of the center’s recently announced renovation plans.

    Plans call for the building to change hands in January of 2015. Nordstrom has notified its employees that the store will close.

  • Havertys to Glensford Commons in Fayetteville, N.C.

    Charlotte, N.C. — Havertys Furniture has leased a 45,000-sq.-ft. location in Glensford Commons in Fayetteville, N.C. The Charlotte office of Divaris Real Estate represented Havertys Furniture in the lease negotiations.

    Other leases completed by Divaris in the Carolinas include a 3,600-sq.-ft. location for Firsthealth of the Carolinas in Carthage, N.C. Divaris handled the lease negotiations on behalf of the landlord, Food Lion.
     

  • Juice press to open five NYC locations by summer

    New York — Juice press has announced plans to open five new locations in New York City in the spring and summer of this year. The locations include Chinatown, Tribeca, Midtown, Bridgehampton and the World Financial Center.

    The new locations will bring the juice press total to 19.

  • Dunkin’ Donuts plans 22 new stores in Baltimore/Washington, D.C., market

    Canton, Mass. – Dunkin’ Donuts has entered multi-unit store development agreement with five existing franchise groups to develop 22 new restaurants throughout the Greater Baltimore/Washington, D.C., area over the next several years. The five franchise groups and their development plans include:

    • Existing franchisee Arun Mandi plans to develop eight restaurants throughout Washington, D.C., and Virginia. Mandi currently operates 28 locations in Delaware, New Jersey, and Pennsylvania. His next restaurant is planned to open in 2015.

  • J.C. Penney enters partnership to develop land around headquarters

    Plano, Texas – J.C. Penney Company has entered into a new partnership to develop the vacant land around its Plano, Texas, home office in the Legacy Business Park. The new partnership will be managed by Team Legacy, a venture of the Karahan Companies, Columbus Realty, and KDC.

  • Nordstrom Rack to open in Princeton, N.J.

    Seattle — Nordstrom has announced plans to open a Nordstrom Rack at Mercer Mall near Princeton, N.J. Plans call for the approximately 35,000-sq.-ft. store to open in the spring of 2015.

    Mercer Mall is owned and managed by Federal Realty Investment Trust www.federalrealty.com. The new store will add to the current tenant line up, which includes T.J.Maxx, Bed Bath & Beyond, DSW and Shop Rite.

     

  • 99 Cents Only opens three new stores Feb. 13

    City of Commerce, Calif. – 99 Cents Only Stores is opening three new stores on Thursday, Feb. 13. The stores are located in Scottsdale, Ariz., Carson, Calif., and Humble, Texas.

    The Scottsdale store is approximately 14,000 sq. ft., the Carson store is approximately 17,000 sq. ft. and the Humble store is approximately 12,000 sq. ft. All three will feature a perishable food department, including produce, dairy and frozen foods.

     

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