REAL ESTATE

  • Google eyeing store site in New York City

    New York -- Google. Inc. may be close to signing a lease for its first-ever freestanding retail store in the United States, according to Crain’s New York Business. The site is located in New York City’s SoHo area, at 131 Greene Street, and is just a block away from an Apple store. The search giant reportedly wants to open brick-and-mortar stores to showcase its various gadgets, ranging from the Nexus line of smartphones and tablets to the Chromebook Pixel laptop. The company is also getting ready to go public with its Google Glass eyewear and smartwatches.
  • Mid-America brokers sale of Shadeland Station in Indianapolis

    Oakbrook Terrace, Ill. — Mid-America Real Estate Corp.’s investment sales team has brokered the sale of Shadeland Station. Time Equities purchased the 104,906-sq.-ft. grocery-anchored shopping center. Marsh Supermarkets and Dollar Tree anchor the center.

    Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate – Indiana LLC brokered the transaction exclusively on behalf of the seller, a joint venture between Tri-Land Developments and an affiliate of Equity Group Investments.

  • Uniqlo to enter Pennsylvania

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  • Horizon to develop outlet center in East Hartford, Conn.

    East Harford, Conn. — Horizon Group Properties has announced an agreement to develop a new outlet center in East Hartford, Conn. The 350,000-sq.-ft. Outlet Shoppes at Rentschler Field is scheduled to open in the summer of 2016. Rentschler Field is a historic airstrip located near downtown Hartford.

    The Hartford metropolitan area has 2.2 million residents and an average annual household income above the national average. No outlet shopping centers currently serve the market.


  • DSW opens new store in Iowa March 20

    Columbus, Ohio – DSW Inc. opens a new store in Davenport, Iowa on March 20. As of March 20, DSW will operate 398 stores in 42 states, the District of Columbia and Puerto Rico.

    DSW Rewards is a free loyalty program in which customers earn certificates toward future DSW purchases and receive special member-only offers. Customers can also participate in a Shoe Lover community on Facebook to receive exclusive offers and giveaways.

  • CBL to develop Parkway Plaza in Ft. Oglethorpe, Ga.

    Chattanooga, Tenn. — CBL & Associates Properties has announced its newest community center development, Parkway Plaza, a 134,100-sq.-ft. project in Fort Oglethorpe, Ga. Construction will begin in June, with the grand opening scheduled for spring 2015. Once complete, the 16+-acre site will offer several national retailers new to the area including anchor stores Hobby Lobby, Marshalls and Petco.

  • Disney-inspired Starbucks opens at Downtown Disney

    Seattle -- Starbucks has opened up its first company-operated store on a Disney property, at Downtown Disney in Anaheim, Calif. The 5,600-sq.-ft. store is the first of several company-operated locations that are scheduled open across Disney properties in the United States.

  • Mid-America announces four new suburban Chicago leases

    Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has announced new retail leases in four shopping centers in Chicago’s northwest suburbs.

    Big Blue Swim School signed a lease for 10,075 sq. ft. at The Grove in Buffalo Grove, Ill. The School’s second location in the Chicago area, it is expected to open in November. Jewel Osco, Chase and American Mattress anchor the 117,367-sq.-ft. center. Mid-America represented the landlord in the transaction. NGKF represented the tenant.

  • Brixton Capital buys Moreno Valley, Calif., center

    Los Angeles — Brixton Capital has acquired TownGate Center in Moreno Valley, Calif., for $41,971,000, a 6.9% cap rate, according to CBRE, which represented both the buyer and seller in the transaction. The seller was a partnership between Walton Street, a private equity firm, and Fritz Duda Co.

    The CBRE marketing system distributed more than 460 offering memoranda to investors and brokers. The managed bid offer process generated more than nine offers. The purchase price mirrored CBRE’s pricing guidance to the seller.

  • PizzaRev to expand in St. Louis and Austin

    Los Angeles — A Buffalo Wild Wings Franchisee has signed an agreement to open fast-casual PizzaRev restaurants throughout the St. Louis, Mo., and Austin, Texas, markets.

    The PizzaPeel franchise group plans to open four PizzaRevs in Austin and three in St. Louis. The agreement also includes rights to develop both regions further.

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