REAL ESTATE

Seattle -- TC Global (dba Tully’s Coffee Shops) has announced the completion of the sale of substantially all of its assets to Global Baristas, an investment group led by Patrick Dempsey. Global Baristas bought the assets in an auction in bankruptcy court last January. The company plans to continue to operate Tully’s Coffee Shops and to retain all of the employees.

Burlington, Mass. -- KeyPoint Partners has released The KeyPoint Report for Eastern Massachusetts/Greater Boston 2013. The report examines supply, occupancy, absorption and retailer expansion and contraction for virtually every retail property in the region. The 2013 report also includes a ten-year historical perspective that discusses the regional retail economy before, during and since the recession.

Chattanooga, Tenn. -- CBL & Associates Properties has announced the acquisition of two Sears locations, one at CBL’s Fayette Mall in Lexington, Ky., and the other at CoolSprings Galleria in Nashville. Sears will continue to operate in both locations until closing dates have been finalized.

“We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants,” said Stephen Lebovitz, CBL’s president and CEO.
 

Chicago -- The Macy’s store in the recently renovated Ohio Valley Mall in St. Clairsville, Ohio, has begun its first full-store renovation since opening in 1979. The single-level 100,000 sq. ft. store will receive new flooring, wall treatments, paint and additional accent lighting. In addition, the renovation will reconfigure the aisles to improve flow and sight lines. Macy’s will remain open throughout the renovation, which will finish up in time for the holiday season.

Atlanta -- Jones Lang LaSalle has closed the sale of Shiloh Square Shopping Center on behalf of Torchlight Loan Services. Phillips Edison-ARC Shopping Center REIT Inc. purchased the 139,720 sq. ft. Kroger-anchored center.

“Shiloh Square is strongly positioned in one of Atlanta’s largest suburbs of Kennesaw, serving more than 70,000 residents within a three mile radius,” said Margaret Caldwell, managing director with JLL.

New York -- Urban Outfitters has signed a lease for 56,730 sq. ft. on three levels at W&H Properties’ 1333 Broadway site, where the retailer will create its innovative new “lifestyle center” concept with new features never before seen from the brand, according to Anthony Malkin, president of Malkin Holdings, which supervises the W&H Properties portfolio.

The retailer will take occupancy in September.  

New York -- RadioShack Corp. unveiled its new concept store, opening a location on the Upper West Side of Manhattan. The store showcases a number of the features that will be part of a new generation of RadioShack stores that will be rolled out in locations throughout the United States and internationally over the next several months. The new concept is part of a wider initiative by new CEO Joseph C. Magnacca, who took the reins in February, to turn around the ailing chain.
   

Atlanta -- Developer OliverMcMillan has secured a $167 million syndicated construction loan, led by PNC Capital Markets, LLC, to finance construction of Buckhead Atlanta, the mixed-use retail, residential and office development located in Atlanta’s Buckhead neighborhood.

The loan will cover the full construction of the six-block, 8-acre complex. Five lenders are involved, including PNC Bank, N.A., CIT Finance LLC, Compass Bank, Regions Bank and SunTrust Banks.