REAL ESTATE

  • Academy pilots high school business ed program

    Yonkers, N.Y. — Forest City Ratner Cos. has joined Yonkers Partners in Education to create Ridge Hill Academy, a pilot program in which local businesses teach local students about the “behind the scenes” operations of retail management.

    Twenty-five students selected from local high schools have just begun the pilot’s third of five 10-week sessions, which take place at Westchester’s Ridge Hill shopping, dining and entertainment center.

  • 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.

  • Jersey Mike’s opens at Kohl’s Plaza in Holmdel, N.J.

    Purchase, N.Y. — Jersey Mike’s Subs has opened a new shop at Kohl’s Plaza in Holmdel, N.J. Kohl’s and Stein Mart anchor the 184,575-sq.-ft. shopping center owned and managed by National Realty & Development Corp.

    The tenant line-up also includes 7-Eleven, Harmon Stores, Avenue, Wells Fargo and the Bayshore Academy of Dance.

     

  • Meijer announces plans to expand in Wisconsin

    MILWAUKEE — In his first major appearance before a Milwaukee crowd, Meijer CEO Hank Meijer said the retailer is gearing up for growth in Wisconsin over the next few years, according to the Milwaukee Business Journal.

    Speaking at the recent Milwaukee Business Journal’s Power Breakfast, he said the company is likely to open 10 to 12 stores a year, and most of the locations will be in Wisconsin, the publication reported.

  • Ahold acquires supermarket business in Czech Republic

    ZAANDAM, the Netherlands — Ahold has entered into an agreement to acquire Spar's business in the Czech Republic. The acquisition includes 50 stores of which 36 are compact hypers and 14 are supermarkets.

  • Ross Stores to open 96 stores in 2014

    New York -- Ross Stores continues to expand in 2014. The off-price retailer has already opened 30 Ross Dress for Less and seven dd's Discounts stores in 14 different states, and there's more to come.

    "We remain on track to open a total of approximately 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd's Discounts," said Jim Fassio, president and chief development officer. "Today, Ross Dress for Less is the largest off-price apparel and home fashion chain in the U.S.”

  • Starbucks, Disney to partner on six stores

    Seattle - Starbucks Coffee Company and the Disneyland Resort will open a new company-owned Starbucks location at Downtown Disney in Anaheim, Calif. This store will be the first of four to be operated by Starbucks across Disney properties in the U.S.

  • Cinemark Movie Bistro to Rayzor Ranch in Denton, Texas

    Phoenix — An eight-screen Cinemark Movie Bistro will open at Rayzor Ranch Town Center, a new open-air retail and entertainment destination set to break ground later this year in Denton, Texas.

    The state-of-the-art cinema will join a 126,000-sq.-ft. Dillard’s in anchoring Rayzor Ranch. Both are planning grand openings for summer 2015.

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