REAL ESTATE

  • Edens closes $1.5 billion equity transaction

    Columbia, S.C. — Edens Investment Trust has closed a $1.47 billion equity transaction composed of the $718 million sale of a 29% equity stake in the company and a $750 million equity commitment from the company’s institutional investors.

    In the sales transaction, a Blackstone-sponsored real estate investment vehicle acquired a $718 million stake in Edens from the State of Michigan Retirement System.

  • Glimcher acquires Arbor Hills in Ann Arbor, Mich.

    Columbus, Ohio — Glimcher Realty Trust has acquired Arbor Hills, an upscale, open-air center located in Ann Arbor, Mich., in the main corridor that connects downtown Ann Arbor and the University of Michigan’s main campus. The new center, which opened in August, features 85,000 sq. ft. of leasable space and is approximately 87% leased. Tenants include Anthropologie, Arhaus, lululemon athletica, Madewell and The North Face. The property is expected to average above $500 per square foot in sales.

  • Sidecar to open in Tucson’s Broadway Village

    Tucson, Ariz. — Sidecar, a craft beer and cocktail bar, plans to open a 963-sq.-ft. upscale lounge at Broadway Village in Tucson. Slated to open in March of 2014, the bar will seat 40 people inside and 12 to 15 people on a patio.

    Commercial Retail Advisors represented the landlord, CRI Broadway Village Partners in the transaction. Sidecar handled the lease negotiations itself.

  • DDR signs anchors for Seabrook Commons in N.H.

    Beachwood, Ohio — DDR Corp. has announced he lease-up and construction of Seabrook Commons, a 380,000-sq.-ft. power center slated to open in the summer of 2014 in Seabrook, N.H.

    Anchored by Wal-Mart, Dick’s Sporting Goods, PetSmart, Michaels, Ulta, Five Below and Panera, the center will open 95% leased.

    The trade area has a population of 251,000 people and an average household income of approximately $90,000.

  • RadioShack opens Penn Station pop-up

    Fort Worth, Texas -- RadioShack has opened its newest Manhattan location as a pop-up concept store at Penn Station. The limited-time-only location is the third RadioShack pop-up store to open in Manhattan.

    In addition, RadioShack has opened a total of eight concept stores in the Manhattan area. The newest pop-up opened five days after construction began.

  • Dickey’s BBQ Pit to Plaza Escondida in Tucson

    Tucson, Ariz. — Dickey’s BBQ Pit has signed a 2,700-sq.-ft. lease at the Plaza Escondida Shopping Center in Tucson, Ariz. Keller Williams Southern Arizona represented the tenant in the transaction. CBRE (www.cbre.com) represented the landlord, Roseville Tucson LLC.

  • Image redoes its image

    Moreno Valley, Calif. — Image, a junior fashion retailer, has re-opened at the Moreno Valley Mall in Moreno Valley, Calif., with a big brand new image. The new store has expanded to 10,000 sq. ft. and is located on the lower level between Crazy 8 and Sports Treasure, according to Spinoso Real Estate Group, the mall’s property manager.

  • Yotagious Frozen Yogurt to Thatcher, Ariz., Center

    Tucson, Ariz. — Yotagious Frozen Yogurt of Thatcher has leased a 1,500-sq.-ft. space at the Gila Valley Shopping Center in Thatcher, Ariz., and plans to open in the early spring of 2014.

    The Tucson office of CBRE represented Gila Valley’s owners in the transaction.

  • JLL expands into Phoenix

    Phoenix — Jones Lang LaSalle is expanding its retail brokerage platform into Phoenix. Tyson Switzenberg will lead the firm’s new Phoenix practice. Senior Associate John Reva and Associate Trask Switzenberg will join him.

  • Nordstrom Rack announces two new stores for fall 2014

    Seattle – Nordstrom plans to open two new Nordstrom Rack stores in fall 2014. The approximately 35,000-sq.-ft. stores will be located at Tempe Marketplace in Tempe, Ariz. and Plaza at Jordan Creek in West Des Moines, Iowa.

    The Tempe property is owned and managed by Vestar and the Plaza at Jordan Creek is being co-developed by Hurd Real Estate Services, Inc. and Signature Real Estate Services, Inc.

Related Topics

X
This ad will auto-close in 10 seconds