REAL ESTATE

  • Simon acquires 100% ownership of two upscale outlet centers

    Indianapolis -- Simon Property Group said Wednesday it has acquired Paragon Outlets Grand Prairie in Grand Prairie, Texas, and Paragon Outlets Livermore Valley in Livermore, Calif.

    Simon now owns 100% of each asset.

    The 417,000-sq.-ft. Grand Prairie center is tenanted by Saks Fifth Avenue Off 5th, Bloomingdale's The Outlet Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Michael Kors, Nike and Tommy Hilfiger. The center opened in August 2012 and is 100% leased.

  • Whole Foods to open at Towers Plaza

    Melrose, Mass. -- Charter Realty & Development Corp. announced that shortly after acquiring Towers Plaza in Melrose, Mass., it has signed a 20-year lease for 29,980 sq. ft. to Whole Foods Market.

    Whole Foods will move into a space currently occupied by Johnny’s Foodmaster. The space will undergo a major renovation that will coincide with Charter’s renovation of the balance of the center.

     

  • Trademark JV acquires Watters Creek

    Fort Worth, Texas -- Trademark Property Group announced that together with Coventry Real Estate Advisors, Southern Land Co. and PCCP, it has recapitalized the Watters Creek at Montgomery Farm mixed-use project near Dallas in a joint-venture arrangement.
     
    The Joint Venture acquired the note on the property from a multi-bank syndicate led by PNC Bank. PCCP provided the capital for the transaction from its opportunistic fund, PCCP Equity VI, L.P.

  • Sherwin-Williams opens 3,500th retail store

    Cleveland -- Sherwin-Williams Paint Stores Group announced Wednesday it has opened its 3,500th retail location in total and its 70th in 2012.

    The newest store is 4,000 sq. ft. and located in Rancho Santa Margarita (Orange County), Calif.

     

  • Tesco set to sell or close all Fresh & Easy stores

    London -- Tesco CEO Philip Clarke announced Wednesday that the British supermarket retailer will likely sell or close its entire U.S. presence, which means that 199 Fresh & Easy stores could be shuttered or sold off.

    According to multiple reports, Tesco is close to making the decision after five unprofitable years in the U.S. The retailer launched the concept in 2007, confident there was a niche for a grocery store with fresh food offerings formatted in a unique footprint that was smaller than a typical supermarket but larger than a c-store.

  • David’s Bridal to open new store at Great Northeast Plaza

    Philadelphia -- Metro Commercial Real Estate said that David’s Bridal will open an 8,164-sq.-ft. store at Great Northeast Plaza, located in the northeastern part of Philadelphia.

    The new store is slated to open by spring 2013.

  • Retail vet joins DJM Realty

    Boston -- DJM Realty announced that Josh Podell has joined the company as a specialty retail and outlet consultant.

    Podell, who will continue to operate his own real estate consultancy Podell Real Estate Advisors, counts among his retail experience a lengthy stint as VP real estate for Jones Retail Corp., a division of Jones Apparel Group.

     

  • A&P teams with Esri for real estate solution

    Redlands, Calif. -- Esri announced Wednesday that the Great Atlantic and Pacific Tea Co. has licensed Esri GIS technology and data to provide localized shopping trends data toward supporting the grocer’s commitment to growing its market presence across the Northeast.

  • Applebee’s to open NYC’s first LEED Gold restaurant

    New York -- Applebee’s will open New York City’s first LEED (Leadership in Energy & Environmental Design) Gold certified restaurant on Monday, Dec. 10.

  • Wingstop to open 50 Russia locations

    Richardson, Texas -- Chain restaurant Wingstop announced Tuesday it has executed a master development deal that will facilitate about 50 unit openings in Russia, the first opening in Moscow.

    The chicken wing purveyor -- with more than 530 locations throughout the U.S. and Mexico -- signed a master development agreement with Baxtor Limited for 50 Wingstop restaurants to be opened throughout Russia over the next 10 years.

    The first location is expected to open in Moscow by the end of 2013.

     

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