REAL ESTATE

  • Lexy takes larger space at Moreno Valley, Calif., center

    Syracuse, N.Y. — Junior fashion retailer, Lexy, has expanded into a new 3,098-sq.-ft. store at Moreno Valley Mall in Moreno Valley, Calif. The new store opened on Feb. 14.

    Managed by Spinoso Real Estate Group, the center is home to 130 stores and restaurants including a number of new arrivals. Crunch Fitness recently moved into a 20,000-sq.-ft space. Junior fashion retailer, Image, opened in December 2013.

  • Wendy’s sells 70 restaurants in Dallas area

    Dublin, Ohio -- The Wendy’s Company announced the sale of 70 restaurants in the Dallas-Ft. Worth metroplex to Texas-based MUY Hamburger Partners, a Wendy's  franchisee. The transaction is designed to promote new restaurant growth and reimaging, while generating a more predictable revenue stream for the company.

  • BurgerMonger to Northwood Commons in Clearwater, Fla.

    Tampa, Fla. — BurgerMonger has taken a 2,700-sq.-ft. lease at Northwood Commons shopping center in Clearwater, Fla. This will be the restaurants fifth location, according to Florida Retail Partners www.floridaretailpartners, an X Team partner and co-broker representing BurgerMonger on the transaction. National Real Estate Ventures was the other co-broker.

    When the new BurgerMonger opens in April, the fast casual restaurant will have four locations in the Tampa Bay metropolitan area and one in Willow Grove, Pa.

  • Achieving Closure

    While we’re only just getting started on 2014, already one of the big retail stories is store closings. While the economy is far from robust, we aren’t in a recession either, and so at first these closings might seem a little surprising. I don’t see it that way, however: The recent spate of planned store closing for 2014 is exactly what we should expect from an industry in transition. It’s not a crisis, so much as it is a realignment.

  • Panera Bread to N. Canton, Ohio, Hoover District

    North Canton, Ohio — Construction of a new Panera Bread will get underway this spring in the Hoover District of North Canton, Ohio. The first retail establishment in the Hoover District, the restaurant plans to open this fall.

    Being developed by Industrial Realty Group, the Hoover District is a mixed-use redevelopment envisioned as a live-work-play environment.

  • Uniqlo to make Southern California debut

    Costa Mesa, Calif. — Uniqlo is expanding into Southern California. The Japanese apparel retailer will open its first stores in the region this fall, at the Beverly Center in Los Angeles and South Coast Plaza in Costa Mesa.

    Uniqlo announced announced it will an additional location in Northern California, at the Sunvalley Shopping Center in Concord. Also in the works: a store at Stamford Town Center, Stamford, Conn.
     
    The retailer, owned by Japanese holding company Fast Retailing Co., currently has 17 stores in the United States.

  • Westwood redoes North Park Plaza in Phoenix

    Los Angeles, Calif. — Westwood Financial Corp., a national owner-operator of shopping centers, has completed remodeling work at North Park Plaza shopping center in Phoenix, Ariz. Safeway anchors the center. Regional and national tenants include Frazee Paint, Peter Piper Pizza, Subway and Great Clips.

    Improvements to the 101,361-sq.-ft. center include a new façade, covering columns with stone, refreshed landscaping and a two-tone paint color scheme.

  • Whole Foods to Mayfair in Wauwatosa, Wis.

    Chicago, Ill. — Whole Foods Market has signed a 45,150-sq.-ft. lease to anchor the second phase of The Mayfair Collection, a large-scale, mixed-use development in Wauwatosa, Wis. It will be the specialty grocer’s second store in the Milwaukee metropolitan area.

    Plans for the second phase of the center also include approximately 50,000 sq. ft. of junior anchor retail space, a mix of upscale bars and restaurants, a bank branch and a 140-room hotel.

  • Retail Properties of America names VP

    Oak Brook, Ill. — Retail Properties of America has appointed Matthew Beverly VP, director of investments — east region. In his new post, Beverly will lead investment activity through the evaluation and execution of acquisition and dispositions for all markets east of the Mississippi River.

  • CIM Group buys 7 properties, 2 with retail

    Los Angeles, Calif. — CIM Group has acquired a seven-asset portfolio that includes an office tower with ground floor retail and an enclosed regional shopping mall.

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