REAL ESTATE

  • ARCP acquires Cole for $11.2B

    New York -- American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.

    ARCP has secured $2.75 billion in fully committed financing from Barclays. The loan is expected to close in the first half of next year.

    Updated ARCP pro forma 2014 guidance indicates that adjusted funds from operations will move from $1.13 to $1.19 per share, compared with 2013 guidance of $0.91 to $0.95 per share.

  • 99¢ Only opens Dallas/Fort Worth store

    City of Commerce, Calif. — 99¢ Only Stores has leased 18,728 sq. ft. in Fairmeadows Shopping Center on East Camp Wisdom Road in the Dallas/Fort Worth area. The Fairmeadows tenant line-up includes Dollar

    General, Popeye’s, Firestone and Dental Republic. The Weitzman Group, the exclusive leasing agent for the center, handled negotiations for the landlord.

  • Von Maur enters Alabama

    Davenport, Iowa -- Von Maur Department Store has opened its first store in the state of Alabama, at Riverchase Galleria in Hoover. The 185,000-sq.-ft. store is also one of the company’s largest locations to date.

    "After opening our first Southeastern location two years ago, we couldn't be more excited to continue building on our success in the region with the addition of our first Alabama location at Riverchase Galleria," said Jim von Maur, president of Von Maur."

  • Silicon Valley’s Westfield Valley Fair reopens

    Santa Clara, Calif. — Westfield Valley Fair celebrated its official grand re-opening with the debut of a multi-million dollar dining terrace and a fete for its expanded luxury collection in partnership with DuJour Magazine.

    The remodeled 23,000-sq.-ft. public dining terrace caters to fast casual dining and entertainment programming. Shoppers can select from 18 eateries and enjoy comfortable lounge seating or an alfresco patio complete with fire pits and sculpture. 

  • Saks to open Off 5th in metro Jackson, Miss.

    New York -- Saks Fifth Avenue Off 5th plans to open a new store in Pearl, Miss., (metropolitan Jackson) on Nov. 14.

    The 17,000-sq.-ft. store will be located in the Outlets of Mississippi in Rankin County, one of the fastest growing areas in the state. The outlet is developed by Spectrum Capital, an affiliate of the Yates Companies.

  • Alice + Olivia, from pop-up to permanent in Manhattan

    New York — Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group have arranged a multi-level Soho flagship for Alice + Olivia By Stacey Bendet at 98 Greene Street between Spring and Prince Streets.

  • ShopKo announces five new Hometown format stores

    Green Bay, Wis. -- Shopko continues on its growth path with the opening of five new Shopko Hometown stores in November. The new stores are located in: Afton, Wyo.; Ellsworth, Wis.; St. Peter, Minn.; Tomahawk, Wis., and Winneconne, Wis.

  • RadioShack inks deal in New Jersey shopping center

    North Plainfield, N.J. — RadioShack has leased 2,556 sq. ft. at the 175,515-sq.-ft Hamilton Plaza in Hamilton Township, N.J., according to Levin Management, the property’s managing and leasing agent. Metro Commercial Real Estate Inc. served as the tenant’s broker in the transaction.

  • SRS hires first VP in Tampa, Fla.

    Dallas — SRS Real Estate Partners welcomes T. Michael McNamara as first VP in the Tampa, Fla., office. A seasoned commercial real estate veteran with 23 years of experience, he will focus on tenant representation, landlord representation and land brokerage services across Tampa Bay and Central Florida.

    McNamara comes to SRS from Sperry Van Ness where he was a senior advisor specializing in the sale and leasing of retail, office and industrial properties in the Sarasota, Orlando and Tampa Ba markets.

  • Mama’s Hawaiian Bar-B-Cue to Cortaro Plaza

    Tucson, Ariz. — Mama’s Hawaiian Bar-B-Cue has signed a lease for a 2,000-sq.-ft. restaurant in Cortaro Plaza in Tucson, Ariz. The new location, the third for the young chain, is expected to open in mid-January 2014. The first two locations are near the University of Arizona and in Sahuarita, Ariz., a Tucson suburb.

    Commercial Retail Advisors represented both the landlord, Cortaro Investments and the tenant, Mama’s Family Restaurants in the lease transaction.

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