REAL ESTATE

  • Inland raises $1.1 billion of investor capital

    Oak Brook, Ill. -- Inland Diversified Real Estate Trust announced it has raised over $1.1 billion of investor capital, which will be used to continue the company’s acquisitions of a diversified portfolio of commercial real estate properties.

    “We believe that we have built an outstanding portfolio of stable, performing commercial real estate assets with very high occupancy, generating sustainable distributions for our investors,” said Barry Lazarus, president and COO of Inland Diversified.

  • BJ’s Restaurant and Brewhouse to open at South Hill Mall

    Puyallup, Wash. -- Youngstown, Ohio-based Cafaro Co. announced that BJ’s Restaurant and Brewhouse will open a 9,200-sq.-ft. restaurant at South Hill Mall in Puyallup, Wash.

    The new tenant is scheduled to open February 11, 2013, located between Red Robin and Olive Garden restaurants.

     

  • Hobby Lobby expands at Paradise Pavilion

    West Bend, Wis. -- Brixmor Property Group announced Hobby Lobby recently expanded from 46,546 sq. ft. to 57,346 sq. ft. at Paradise Pavilion, located in West Bend, Wis.

    Brixmor, based in New York City, is the owner of Paradise Pavilion.

     

  • Six new tenants to open at White City Shopping Center

    Shrewsbury, Mass. -- Charter Realty & Development said it has arranged six leases, totaling 33,191 sq. ft., in the White City Shopping Center located in Shrewsbury, Mass.

    Planet Fitness will open a 19,079-sq.-ft. facility, Elements Massage will open a 3,520-sq.-ft. unit, which was co-brokered with Blake Commercial, and Two Ovens will open a 3,532-sq.-ft. restaurant, which was co-brokered with Gallivan & Co.

  • SPL Realty secures 11 leases for Lorna Jane’s U.S. expansion in California

    Santa Monica, Calif. -- SPL Realty Partners, exclusively representing Australian women’s activewear retailer Lorna Jane, announced 11 leases have been secured for Lorna Jane’s expansion into the United States.

    The retail sites are located throughout the Southern California region including stores in Santa Monica, Woodland Hills, Glendale, Irvine and Huntington Beach.

    A warehouse was also secured for the support of the network of retail stores and online fulfillment in Santa Monica, Calif.

  • CBL names CFO, promotes Reinsmidt

    Chattanooga, Tenn. -- CBL & Associates Properties announced that Farzana Mitchell has succeeded John Foy as CFO.  

    Foy will remain in the near term as executive vice chairman to provide continuity through the transition.  

    In addition, the CBL board announced that Katie Reinsmidt has been promoted to the new position of senior VP – investor relations and corporate investments.

     

  • SRS Real Estate to represent Shopko in property disposition

    Dallas -- SRS Real Estate Partners has been selected to represent Shopko in the disposition of its outlot properties and vacant properties in 19 states across the Midwest and western United States.

    The outlots range in size from 14,000 sq. ft. to 219,000 sq. ft., and the vacant properties range in size from 18,700-sq.-ft. retail locations to a 214,000-sq.-ft. industrial property.

     

  • Walgreens to close 76 USA Drug-affiliated stores

    Deerfield, Ill. -- Walgreens announced plans to close more than half of the stores it is acquiring in its deal with USA Drug.

    The company — which said in July it would purchase the mid-South drug store chain for approximately $438 million — confirmed it would close approximately 76 stores across the region. USA Drug operates 144 stores under the USA Drug, Super D Drug, May's Drug, Med-X and Drug Warehouse banners.

  • Corner Bakery to open 18 Seattle-area units starting next year

    Dallas -- Fast-casual bakery concept Corner Bakery Café said Thursday it has executed a deal with a franchise group to open the chain’s first restaurants in the Pacific Northwest beginning in 2013.

    Northwest Bakery Cafe, a group of restaurant operators that owns 95 Jack in the Box locations, is slated to open 18 Corner Bakery franchised restaurants in and around Seattle over the next seven years.

  • Ace Hardware on track to open 170 stores in 2012

    Oak Brook, Ill. -- Ace Hardware Corp. has reported substantial growth and expansion in priority markets across the country.

    “Our aggressive, long-term growth strategy features a total package of resources and support to ensure a successful future for our retailers,” said Mike Berschauer, director, retail development for Ace Hardware. “After a prosperous second quarter focused on store activations and conversions, Ace is on-track to achieve its goal of opening 170 new domestic stores in 2012.”
     

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