REAL ESTATE

  • Agree Realty announces re-tenanting and disposition of Borders assets

    Farmington Hills, Mich. -- Agree Realty Corp. said it has executed two leases and completed a disposition of the company's remaining assets that were formerly leased to Borders.
     
    The company has executed a lease with HomeGoods for the building formerly occupied by Borders in Monroeville, Pa. HomeGoods, a TJX Cos. banner, will occupy the space effective third quarter of 2013.

  • Inland American Real Estate names president

    Oak Brook, Ill. -- Inland American Real Estate Trust has announced the appointment of Thomas P. McGuinness as president. McGuinness joined Inland in 1982 and has held several executive positions throughout the Inland organization.  

    In his new role, he will oversee the management of the company’s day-to-day operations, including the strategic business plan, investment decisions, asset management and financing functions for the national portfolio of 48 million sq. ft.

  • Kohl’s opens 12 stores, with nine built to LEED Gold standards

    Menomonee Falls, Wis. -- Kohl’s Department Stores announced the grand opening of 12 stores, creating approximately 1,500 jobs nationwide. The company now operates 1,146 stores in 49 states.

    The company is celebrating the grand opening of 12 stores in 10 states, including Connecticut, Georgia, Iowa, Kansas, Maryland, Massachusetts, North Carolina, South Carolina, Virginia and Washington. Of the 12 new locations, 11 are small format stores with approximately 64,000 sq. ft. or less of retail space.

  • CBRE launches global green research challenge

    Los Angeles -- CBRE Group on Tuesday announced the launch of the Real Green Research Challenge, a four-year, $1 million commitment to fund leading-edge sustainability research and innovation relating to commercial real estate.

    CBRE said it is accepting submissions for research proposals, with the goal of developing solutions to the industry’s critical environmental challenges.

  • Staples unveils plan to close 60 stores, invest in online/mobile efforts

    Framingham, Mass. -- Staples Inc. announced Tuesday a strategic plan to shore up sales and profitability that will involve accelerating the closure of 15 U.S. stores and 45 stores in Europe.

    The office supplies retailer also said it will ramp up investment in its online and mobile efforts.

    The announcement comes after a soft second quarter in which profit and traffic dipped downward.
     

  • Landmark NYC gourmet market to be auctioned

    New York -- IPG Real Estate said Monday that Amish Market, a landmark Manhattan gourmet market located in the Midtown neighborhood of TriBeCa, is being offered for sale in hopes of an offer prior to an auction slated for November 2012.

    The supermarket/deli features 7,500 sq. ft., including 1,000 sq. ft. of mezzanine, supported by 2,000 sq. ft. of basement space. An initial review by a court-appointed Chapter 11 trustee verified $8.2 million in sales from a September 2011 to an August 2012 time period.
     

  • Macy’s expanding presence in Las Vegas

    Cincinnati -- Macy's is enhancing its presence in the Las Vegas market. The department store retailer has signed on as the first anchor tenant at the Shops at Summerlin, in west Las Vegas.  

    Macy’s will build a two-level, 180,000-sq.-ft. store in the open- air center, which is being developed by The Howard Hughes Corp. The new Macy’s is expected to open in fall 2014, with construction beginning in fall 2013.

    The 1.5 million sq.-ft. Summerlin will feature over 125 stores and restaurants.

  • Alamo Drafthouse Cinema to open at Yonkers Gateway Center

    Yonkers, N.Y. -- Charter Realty & Development announced that Alamo Drafthouse Cinema will open a 25,596-sq.-ft. location at Yonkers Gateway Center in Yonkers, N.Y.

    Alamo will be occupying a former United Artists Theatre – Regal Cinema with co-tenants such as Best Buy, Burlington Coat Factory, Gap, Nine West, Starbucks, DSW Shoe Warehouse and more.

  • True Food Kitchen to open at Plaza at Preston Center

    Dallas -- Venture Commercial announced that True Food Kitchen will open a 5,915-sq.-ft restaurant at The Plaza at Preston Center, a five-story mixed-use development under construction in Dallas.

    True Food, a Fox Restaurant Concepts brand, is slated to open in 2013 in a ground-floor space of a building that is devoted to retail tenants.

     

  • Study: Retail health clinics, urgent care centers a $10B market and growing

    Tampa, Fla. — The retail health clinic and urgent care center market currently is worth about $10 billion and is poised for strong growth in the coming years as the shortage of primary care physicians and crowded emergency rooms increasingly move patients to retail sites, according to new data by Marketdata Enterprises, an independent market research publisher.

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