REAL ESTATE

Arlington, Va. — Forest City has acquired Macy’s Furniture Store building at the Ballston Common Mall from Macy’s. Forest City, the owner, developer and manager of the mall, plans to redevelop the property and add mixed uses including residential and office. The Home Store, which is connected to the mall on three levels, is the first step in the redevelopment.

Indianapolis — Simon Property Group and Tanger Factory Outlet Centers have announced that construction has begun on Charlotte Premium Outlets. The first phase of the planned 400,000-sq.-ft. center will open in the summer of 2014. The project is a 50/50 joint venture between Simon and Tanger.

Charlotte Premium Outlets will feature Saks Fifth Avenue Off 5th and more than 90 other outlet stores.

Tanger is providing site development and construction supervision to the venture. Simon is providing management services and marketing.

Meriden, Conn. — A TJX Marshall’s store has leased a 23,137-sq.-ft. space at the Meriden Mall in Meriden, Conn. Charter Realty and Development represented the TJX Company in the transaction. Charter Realty is TJX’s exclusive broker for Connecticut, and this is the 25th lease TJX lease the company has arranged.

Anchored by Best Buy, Dick’s Sporting Goods and Macy’s, the 894,435-sq.-ft. mall, owned by The Westfield Group, has 142 stores and ranks as the seventh largest mall in Connecticut.

Charlotte, N.C. — Fiesta Restaurant Group has selected the AMTdirect software platform to manage its portfolio of more than 300 company-owned and franchised locations in the U.S. and Latin America.

AMTdirect’s integrated platform will streamline processes, consolidate real estate data across the business and provide Fiesta with a 360-degree view of its entire portfolio.

Richmond, Va. — Divaris Real Estate has renewed two retail leases totaling more than 9,500 sq. ft. in Richmond, Va.

Aaron’s renewed its lease for 8,008 sq. ft. in Brookhill Azalea Shopping Center, which DRE leases and manages for the landlord, BSV Premier Brookhill.

In a separate transaction, Subway renewed its lease for 1,575 sq. ft. at 360 West Shopping Center, which DRE www.divaris.com leases and manages for the landlord, a partnership between HSW and RMW1.

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sales of two power center properties. In two separate transactions, PREIT sold Christiana Center in Newark, Del., and Commons at Magnolia in Florence, S.C. for $87.3 million. The proceeds represent a blended cap rate of 6.8%. Gains on the sales totaled approximately $45.4 million.

In connection with these transactions, the buyer assumed the $49.2 million mortgage loan secured by Christiana Center.

Northbrook, Ill. — Pine Tree Commercial Realty LLC recently promoted Todd Zinsmaster from senior VP to executive VP of acquisitions and development.

Puyallup, Wash. — WiggleWorks Kids has leased a 4,500-sq.-ft. space for an indoor playground and birthday party center in the South Hill Mall in Puyallup, Wash. WiggleWorks will open the first week in December. It will be WiggleWorks second playground. The first is in Bellevue, Wash.

In addition to the playground, the WiggleWorks offers a semi-private part room equipped with a small kitchen for birthday parties, community gatherings and family gatherings.