REAL ESTATE

Construction complete on Azalea Regional Shopping Center
South Gate, Calif. -- Construction on the Nadel-designed Azalea Regional Shopping Center is now complete, bringing a new 32-acre retail hub to the city of South Gate, Calif. Located at 4635 Firestone Blvd., and owned by Primestor Development, Inc., the project includes more than 370,000 sq. ft. of retail space and 37 stores.
Carter’s recognizes two top brokers
Dallas -- SRS Real Estate Partners announced that two of its brokers have been recognized by their client, Carter’s, for bringing the two most profitable locations nationwide based on a sales-to-rent ratio.

Dawn Greiner, senior VP, and Carey Moen, first VP, both in the SRS Dallas/Ft. Worth office, helped Carter’s sign leases at the two locations. Greiner is the master broker for Carter’s and Moen is a part of the team of brokers that represent the retailer nationwide.

Mixed Use: A Mixed Bag

By Bruce Leonard and John Cumbelich
LaGuardia Airport upgrades stores in Terminal B

Queens, N.Y. -- Airport retail developer MarketPlace Development is opening new shops, restaurants and services as part of an overall plan to upgrade the Food & Shops program at Terminal B in LaGuardia Airport as planning continues on a new terminal.
Store of the Week: The White Company, Norwich, United Kingdom
NGKF to lead retail leasing at Grand Central Terminal

New York -- Newmark Grubb Knight Frank’s retail team has been retained by the New York Metropolitan Transportation Authority to lead the leasing of Grand Central Terminal.
Saks to close store in Hackensack, N.J.

New York -- Saks Fifth Avenue announced that it plans to close its Saks Fifth Avenue store in the Shops at Riverside in Hackensack, N.J. The store is expected to close in late 2014. “Closing a location is never an easy business decision. At this time, we are committed to offering support and assistance to our team affected by the closing,” commented Marigay McKee, President of Saks Fifth Avenue.
DDR and Blackstone JV closes on $2 billion 71-center purchase

Beachwood, Ohio --DDR Corp. and an affiliate of Blackstone Real Estate Partners VII announced that a joint venture formed by the pair has closed on the acquisition of 71 shopping centers previously owned by American Realty Capital Properties for $1.93 billion.
Washington Property leases to True Blue Kitchen in Bethesda center

Bethesda, Md. -- Washington Property Company (WPC) is bringing the True Food Kitchen restaurant to its latest upscale apartment development, Solaire Bethesda. Upon opening in 2016, Solaire Bethesda’s street-level retail space will be occupied by True Food Kitchen.
Sears raising cash via rights offer and leasing deal with U.K. apparel retailer Primark