REAL ESTATE

Levin Management inks three dozen retail leases in 4 months
Modell’s Sporting Goods celebrates 125 years with new store opening
New York -- Modell’s Sporting Goods will celebrate 125 years in business with the grand opening of its newest location at 1019 Montauk Highway in Shirley, Long Island, bringing the sporting goods chain’s total to 157 storefronts. The 14,000-sq.-ft. Southport Shopping Center location will officially open on Thursday, Oct. 23 with a ribbon cutting by president and CEO Mitchell Modell and area officials.

Retail Properties of America receives investment grade rating from S&P

Oak Brook, Ill. -- Retail Properties of America, Inc. announced that it was assigned a BBB-corporate credit rating from Standard and Poor’s Ratings Services with a stable outlook. S&P indicated in its announcement that the rating reflects RPAI’s measured investment and operating strategy, and strengthening portfolio fundamentals.
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.
Cohen Commercial completes refinancing of Buttermilk Crossing

New York -- Cohen Commercial Properties has completed an $8.65 million refinancing of Buttermilk Crossing, located in Crescent Springs, Ky. The 94%-occupied, 78,012-sq.-ft. shopping center is located immediately off of Interstate 71/75. Tenants include Staples, Outback Steakhouse, Petco and The UPS Store.
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.
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.