REAL ESTATE

  • CPRT names new chief operations officer

    Baton Rouge, La. — Commercial Property Realty Trust, a REIT that manages and develops property holdings of the Baton Rouge Area Foundation has named Gerard “Stick” Thibodeaux VP and COO.

    Thibodeaux will oversee the leasing and property management of Acadian Village Shopping Center in Baton Rouge, La., and the retail components of two traditional neighborhood developments — American in Zachary, La., and 5401 North in Raleigh, N.C.

  • Eight Corner Bakery Cafes coming to Sacramento area

    Dallas — Corner Bakery Café ended 2013 with a multi-unit restaurant development agreement to open eight new restaurants in the Sacramento area with a new franchise partner, East Bay restaurants of Pleasanton, Calif.

    East Bay owns and operates 48 Burger King and seven Taco Bell restaurants. The group of veteran restaurant operators plans to open its first Corner Bakery in 2014 and the remaining seven over the next five years.

  • Art Van Furniture to Downers Grove in Chicagoland

    Warren, Mich. — Art Van Furniture has announced a seventh Chicagoland location in Downers Grove. For the new store, slated to open in January of 2015, the retailer plans to renovate a two story 106,000-sq.-ft. former Home Depot Expo Center on Butterfield Road off of Interstate 88.

    Art Van Furniture will open its sixth Chicagoland location in Woodridge-Bolingbrook in April. Last year, the retailer rolled out five new stores in the region — in Logan Square, Bedford Park, Orland Park, Batavia and Merrillville.

     

  • Waba Grill Coming to Upland

    Upland, Calif. — NewMark Merrill Companies has announced that Waba Grill will open in February at Upland Town Square in Upland, Calif. The restaurant signed a 10-year lease for approximately 2,008 sq. ft. of space near O’Reilly’s Auto Parts. Voit Real Estate Services represented Waba Grill.

    NewMark Merrill manages Upland Town Square, which is owned by the company’s president and CEO Sandy Sigal.

     

  • Magnolia Marketplace breaks ground in New Orleans

    Covington, La. — JCH Development and Stirling Properties have broken ground on Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans, at the intersection of South Claiborne Avenue and Toledano Street.

  • Sheetz opens two new stores in North Carolina

    Altoona, Pa. — Sheetz Convenience Restaurants has opened two new locations in North Carolina. One is a 6,400-sq.-ft. store in Goldsboro, featuring a drive-through window, inside seating and a large shopping area. It will be the 59th Sheetz in the state.

    The second store will open in Elkin, bringing the total number of North Carolina stores to 60.

     

  • Tucson’s River Center trades for $24.8 million

    Tucson, Ariz. — Lee & Associates Arizona has negotiated the $24.8 million sale of the River Center, a 117,563-sq.-ft. shopping center anchored by Whole Foods and Petco. Located on East River Road in the Catalina Foothills of northeastern Tucson, the center posted a cap rate of 5.5%.

    Lee & Associates Arizona represented the buyer, Global Retail Investors LLC, a subsidiary of First Washington Realty of Bethesda, Md., and the seller, River Center Canada.

    River Center was constructed in 1986 and remodeled in 1997 and 2013.

  • New 99 Cents Only Store to open in Las Vegas

    City of Commerce, Calif. — 99¢ Only Stores will open a new 20,000-sq.-ft. Las Vegas location on Jan. 23. The new store will feature a perishable food department, with produce, dairy and frozen foods.

    The new store will kick off its grand opening celebration by selling Westinghouse 40-in. flat-screen TVs for only 99 cents to the first nine customers in line. In addition, anyone in line by 7:45 a.m. will receive a raffle ticket for a chance to win the tenth Westinghouse 40-in. flat-screen TV.

     

  • JLL appoints Greg O’Brien CEO, Americas

    Chicago — Jones Lang LaSalle has named Greg O’Brien chief executive officer, Americas. Reporting directly to Colin Dyer, president and CEO of JLL, O’Brien will have overall responsibility for the Americas business. He will be succeeded as CEO, Markets by John Gates. Both appointments are effective immediately.

    Currently a member of the firm’s Americas Executive Committee, which sets the strategic direction for the region, O’Brien will now head this group and join the firm’s Global Executive Board.

     

  • Corner Bakery Café expanding in Sacramento area

    Dallas -- Corner Bakery Cafe rounded out 2013 with a multi-unit restaurant development agreement and plans to open eight new restaurants in the Sacramento area with new franchise partner East Bay Restaurants, Pleasanton, Calif.

    East Bay Restaurants, which owns and operates 48 Burger King and seven Taco Bell restaurants, plans to open its first cafe in 2014 and the remaining sites over the next five years.

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