REAL ESTATE

Divaris renews Big Lots lease for 26,537 sq. ft.

BY Michael Fickes

Richmond, Va. — Divaris Real Estate has announced the renewal of a 26,537-sq.-ft. Big Lots lease in the Midlothian Crossing Shopping Center in Richmond, Va.

DRE manages and leases the center for landlord Midlothian Associates. Other tenants include Goodwill, Family Dollar and Red Wing Shoes.

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REAL ESTATE

Cypress Equities acquires Minnesota retail center

BY Michael Fickes

Dallas — Cypress Equities has acquired Eden Prairie Center in Eden Prairie, Minn., an upscale suburb of Minneapolis. The transaction was carried out by a fund managed by Cypress’ real estate investment management group. Eden Prairie Center is a 1.1-million-sq.-ft., two-level, enclosed shopping center. The mall features more than 100 shops and restaurants. Annual shopper visits exceed 12 million.

Von Maur, Target, Kohl’s, Sears and J.C. Penney anchor the mall. The entertainment wing features an 18-screen AMC Theatres, Barnes & Noble Booksellers, Wildfire Steaks, Chops & Seafood, Biaggi’s Ristorante Italiano, Panera Bread and Prairie Tap House.

Eden Prairie ranked third on Money Magazine’s “Best Places to Live” in 2012 and was first on the list in 2010. The average household income within three miles of Eden Prairie Center is substantially higher than that of the Minneapolis metro average and the United States average.

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REAL ESTATE

Miracle Mile Shops welcomes four new tenants

BY Michael Fickes

Las Vegas — Miracle Mile Shops at Planet Hollywood Resort & Casino is ushering in four new dining and retail destinations spanning 9,192 sq. ft.

Two new restaurants, Meatball Spot and Ketchup Premium Burger Bar will soon boost the restaurant count 17.

Tervis, the insulated tumbler retailer, will open at Miracle Mile Shops in December. Slated to open in February 2014, Shoe Palace will add its selection of footwear, apparel and accessories to the center.

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