REAL ESTATE

  • Mid-America brokers sale of Park Ridge, Ill., center

    Oakbrook Terrace, Ill. — Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Shops of Uptown in Park Ridge, Ill. Phillips Edison-ARC REIT purchased the 70,402-sq.-ft. center for $27 million.

    Trader Joe’s anchors the center, which also hosts Jos. A. Bank, Chico’s, LensCrafters Optique, Houlihan’s, Jason’s Deli and Noodles & Company.

  • Robert Graham plans new Arizona store

    New York -- Robert Graham has signed a new lease agreement to open a branded retail store featuring the full Robert Graham collection in Scottsdale Fashion Square, Scottsdale, Ariz. The store, slated to open in spring 2014, will carry the complete range of Robert Graham, including men's sportswear, premium denim, footwear, furnishings, accessories, outerwear, and women's sportswear.  

  • Sony closing 20 U.S. stores

    San Diego -- As part of a restructuring, Sony Electronics announced plans to close 20 U.S. Sony stores, along with a total staff reduction of one-third by the end of the calendar year.

  • CBRE closes sale of West Star Plaza in Phoenix

  • DSW opens new store in Connecticut

    Columbus, Ohio – DSW Shoe is opening a new store in West Hartford, Conn., on Thursday, Feb. 27. Customers will have access to the DSW Rewards loyalty program in which they can 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, including chances to win free shoes on Facebook each Tuesday.

  • Ross Stores expanding in Texas, Northern California

    Dublin, Calif. -- Ross Stores’ said its Ross Dress for Less  will open three new locations in Texas on March 8, for a total of over 160 stores in the chain’s second largest state. The new Texas stores will be located in the Katy Mills shopping center in Katy, Rayzor Ranch Marketplace in Denton, and The Pavillions in El Paso.  

    Ross is also expanding its dd’s Discounts brand, opening two new locations in Northern California on March 1. The new stores are in White Road Plaza in San Jose and Hatch Road Center in Ceres.

  • Gap to make Mainland China debut

    San Francisco -- Gap Inc. is bringing its Old Navy brand to China, with the opening of a store on March 1 on Shanghai’s famous Nanjing West Road.

    The 22,000 –sq.-ft., three-level Shanghai Old Navy store is located in the Jing’an District, a major commercial area known for shopping, sightseeing, hotels and office buildings that draws thousands of locals and overseas visitors. The store features iconic elements from Old Navy’s U.S. flagship and such interactive features as touch-screen video games and game tables.

  • Starbucks joins Fisherman’s Wharf in Jupiter, Fla.

    Aventura, Fla. — Starbucks has signed a long-term lease at The Shops at Fisherman’s Wharf in Jupiter, Fla., according to the property’s owner, Elion Partners. Avison Young represented Starbucks in the transaction. Atlantic Retail Properties represented Elion Partners.

    The news comes a few weeks following the announcement that The Fresh Market will anchor the center.

  • Aventura Mall to add three-level upscale wing

    Aventura, Fla. -- Aventura Mall, in the Miami suburb of Aventura, plans a significant expansion that will include a new three-level, 241,000-sq.-ft. retail wing and parking garage. Construction is expected to begin in 2014.

    Located between Miami and Fort Lauderdale, Aventura Mall currently measures 2.7 million sq. ft.

  • As fast-casual segment grows, restaurants get aggressive by re-thinking real estate strategies

    By Carrie Smith, [email protected]
    It is undeniable that fast-casual restaurant chains in North Florida and South Georgia are resuming their expansion plans. The local unemployment rate ended 2013 under 6%, home building permits jumped nearly 30%, and car sales climbed — all signs of an improving local economy.

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