REAL ESTATE

Bay Area Family Fitness Centers to open in San Jose, Calif.

BY Staff Writer

Walnut Creek, Calif. — Grubb & Ellis Co. said that Bay Area Family Fitness Centers has leased 38,133 sq. ft. of retail space at Gould Shopping Center, in San Jose, Calif.

The space will serve as the second location for the company, which markets affordable fitness. It is expected to open by year-end.

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REAL ESTATE

SRS Real Estate appoints Denver exec

BY Staff Writer

Dallas — SRS Real Estate Partners has announced the hiring of Brian Hollenback as a VP in the Denver office.

Hollenback has been involved in over 2,000,000 sq. ft. of ground-up retail developments and has completed over 125 pad transactions throughout the Colorado market. He also has represented numerous national and regional retail and restaurants concepts as well as a variety of shopping center owners and developers in leasing their shopping centers.

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REAL ESTATE

Report: Sears pushes to lease space to outside retailers

BY Katherine Boccaccio

Hoffman Estates, Ill. — A Friday report by Wall Street Journal said that Sears Holdings Corp. is in an active push to lease surplus space to other retailers. Its real estate division has listed on its website some 4,000 of its namesake and Kmart stores that have space for other merchants or retail operations to lease.

According to Thursday’s report, Sears has secured two lease deals, one with Western Athletic Clubs for 69,000 sq. ft. of a 273,000-sq.-ft. Sears store in Cupertino, Calif. The health club is expected to open in December 2012.

In the second deal, a specialty grocer – Gonzalez Grocery – has leased 41,000 sq. ft. of a 104,000-sq.-ft. Kmart store in San Diego, with plans to open in November.

Last year, Sears leased about 15% of the space in its Costa Mesa, Calif., store to Forever 21.

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