REAL ESTATE

  • Maurices opening 60 stores in 2014

    Duluth, Minn. -- Ascena Retail Group, parent to the Maurices, DressBarn and Lane Bryant banners, announced the 900th Maurices store opening. The Fresno, Calif., store will officially open later this month, joining 899 other stores in the U.S. and Canada.

    Maurices will open 60 new stores by the end of its fiscal year in July 2014. In addition to new store openings, Maurices is remodeling or expanding 80 stores this year.  

    The company's long-term goal is to reach over 1,200 stores domestically and 100 stores in Canada.

  • Cheesecake Factory, H&M to Fayette Mall in Lexington, Ky.

    Chattanooga, Tenn. — The Cheesecake Factory and H&M will open at Fayette Mall in Lexington, Ky., as part of a redevelopment by owner CBL & Associates Properties.

    The redevelopment will renovate a former Sears store and expand the mall entrance to create 115,000 sq. ft. of new retail space for a mix of fashion and home furnishing stores and restaurants. Construction has begun, and CBL expects the work to be completed this fall.

  • Johnny Rockets opens new restaurant in Kuwait

    Aliso Viejo, Calif. -- Continuing its opening march through Kuwait, Johnny Rockets has opened a new restaurant at the Divonne Restaurant Complex in Kuwait City.

    Franchisee Haidar Al-Naqeeb is expanding the American chain in the Arabian Gulf; his first unit opened in December 1995 at Salem Al-Mabarak in Salmiyah, Kuwait.  Since that time, he's grown his portfolio to now include over a dozen franchises in Kuwait, as well as Saudi Arabia, Qatar and Bahrain with additional openings planned.

  • CBRE arranges equity for San Francisco development

    San Francisco — CBRE has introduced AIG Global Real Estate to Associated Estates Realty Corp. The two companies have formed a 50:50 joint venture partnership to develop a 3.36-acre mixed-use project at 8th and Harrison in San Francisco, Calif. The project will be known as 350 Eighth.

    Located in the South of Market or SoMa neighborhood of San Francisco, 350 Eighth will consist of 410 rental apartment homes and 40,000 sq. ft. of office and retail space. Site work has begun and first occupancy is scheduled for fourth quarter 2015.

  • Simon taps JLL to lease one million square feet

    Chicago — Simon Property Group has awarded the leasing assignment for a trio of shopping centers totaling more than one million sq. ft. to JLL. Each is located at prime intersections in the southern suburbs of Chicago. They include:

    Country Side Plaza in Countryside, Ill. Anchored by Home Depot and Value City Furniture, the 400,000-sq.-ft. center has junio anchor and small shop space available.

  • Dick’s Sporting Goods to open two new stores

    Pittsburgh — Dick’s Sporting Goods has announced the opening of two new stores, one in Wauwatosa, Wis., and the other in Daly City, Calif.

    The Wauwatosa location will be Dick’s 8th store in Wisconsin and its 562nd nationwide. The Daly City location will be the 33rd California store and its 563rd in the U.S.

     

  • Hip Check

    I recently attended the 2014 SPECS (Store Planning, Equipment, Construction Services) conference in Grapevine, Texas, and came away with some fascinating food for thought. The event, which is produced by Chain Store Age, celebrated its 50th anniversary this year.

  • Cedar buys Quartermaster Plaza in Philadelphia

    Port Washington, N.Y. — Cedar Realty Trust has completed the acquisition of Quartermaster Plaza in Philadelphia. The 456,000-sq.-ft. grocery-anchored shopping center is 98% occupied and anchored by a BJ’s Wholesale Club.

    Cedar acquired the center for $92.3 million, including the assumption of $53.4 million of fixed rate debt. The company expects ultimately to fund deal with proceeds anticipated from asset sales. Pending those sales, Cedar will use it existing credit facility.

  • Ballpark Village in St. Louis signs three new tenants

    Baltimore — Jamba Juice, The Fudgery and Majestic Athletic have signed with Ballpark Village in St. Louis.

    Ballpark Village is a mixed-use retail, entertainment, office, and residential district being developed in partnership by the St. Louis Cardinals and The Cordish Companies.

  • Wow! Inks deal in Pawcatuck, Conn.

    Burlington, Mass. — New England regional fitness company, Wow! WorkOut World has subleased an 18,474-sq.-ft. space at Pawcatuck Shopping Center in Pawcatuck, Conn. KeyPoint Partners negotiated the sublease on behalf of its client Stop & Shop.

    Pawcatuck Shopping Center is a convenience-oriented center with a variety of local tenants and a Rite Aid pharmacy.

    The KeyPoint Partners leasing team handles leasing for retail properties totaling nearly six million sq. ft.

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