REAL ESTATE

Indianapolis -- Simon Property Group and Institutional Mall Investors (the co-investment venture owned by an affiliate of Miller Capital Advisory and The California Public Employees' Retirement System [CalPERS]), on Thursday announced that they have formed a joint venture to own and operate The Shops at Mission Viejo in the Los Angeles suburb of Mission Viejo, Calif., and Woodfield Mall in the Chicago suburb of Schaumburg, Ill.

New York -- British clothing and accessories retailer Jack Wills Outfitters is opening a new store, in New Canaan, Conn.

The company has chosen builder and general contractor A&O Danner, Inc., of Plymouth, Mass., to complete the buildout. In 2010-11, Danner built two other Jack Wills stores in Connecticut, in Greenwich and Westport.

Seattle -- Nordstrom plans to open a full-line store in Minnetonka, Minn., at Ridgedale Center, which is owned by General Growth Properties.

The store will be approximately 138,000 sq. ft. and will open in fall 2015. It will be Nordstrom's second full-line store in Minnesota.

Cedar Rapids, Iowa -- Jones Lang LaSalle’s Capital Markets group said Thursday that it has brokered the sale of Westdale Mall in Cedar Rapids, Iowa, on behalf of Tremont Capital Corp. and Cedar Rapids Properties.

The 743,369-sq.-ft. property is anchored by J.C. Penney and Younkers.

Tempe, Ariz. -- Vestar, owners of the 1.3 million-sq.-ft. Tempe Marketplace, announced that it sold a 2.38-acre parcel on its southwest corner to Chicago hot dogs and beef eatery Portillo’s.

The restaurant is slated to open a 7,000-sq.-ft. location in summer 2013.

Tempe Marketplace features 1.3 million sq. ft. of retail space and more than 100 retail and restaurant tenants.

Chicago -- General Growth Properties said Thursday it was informed by Brookfield Asset Management that affiliates of Brookfield acquired the GGP warrants held by affiliates of Pershing Square Capital Management.

The warrants represent the right to acquire 18.43 million shares of GGP stock at a value of $0.01 per share.

General Growth also said it has been offered by Brookfield the right to acquire the warrants, for the same price of $271.88 million paid by Brookfield, within the next 30 days.

Beachwood, Ohio -- DDR Corp. announced that senior executive VP and CFO David J. Oakes has been named president of the company, effective Jan. 1.
 
Oakes will remain CFO, and will continue to report to CEO Daniel B. Hurwitz.
 
Oakes joined DDR as executive VP of finance and chief investment officer in April 2007. He was promoted to senior EVP finance and chief investment officer in December 2008, and CFO in February 2010.

Houston -- Houston-based X Team International partner Baker Katz said that it has completed the sale of the former Syms clothing store in Houston’s Westchase District.

The 40,777-sq.-ft. building was sold to Tennis Express for an undisclosed amount. Tennis Express will relocate an existing store and consolidate off-site storage into the new location.