REAL ESTATE

  • PizzaRev adds four franchisee groups

    Los Angeles — PizzaRev has signed agreements with four franchisee groups covering territory in five states. The deals will lead to the opening of new units in San Diego and Orange counties in California plus Utah, Nebraska, North Dakota and South Dakota. Here are brief profiles of each group:

  • J.C. Penney to close 33 stores by May

    Dallas -- J. C. Penney Company announced that as part of its turnaround efforts it will close 33 underperforming stores across the country. The shutterings, which will result in the elimination of about 2,000 positions, are expected to result in an annual cost savings of approximately $65 million, beginning in 2014.

  • Moe’s Southwest Grill enters California market

    Atlanta — Moe’s Southwest Grill has signed a deal to bring 18 new restaurants to Sacramento and Santa Cruz over the next seven years. This is the franchiser’s first push into California.

    HKM II is the franchise group behind the California expansion. HKM II owns 42 quick-serve burger restaurants throughout Northern California, Southern Nevada and Arizona.

  • Nordstrom to open at Toronto Eaton Centre

    Seattle -- Nordstrom plans to open a full-line store in the heart of downtown Toronto, at Toronto Eaton Centre.

    Construction of the approximately 213,000-sq.-ft., three-level store is set to begin in March 2014, with the store opening slated for fall 2016. Toronto Eaton Centre is owned and managed by The Cadillac Fairview Corp. Ltd.

  • Johnny Rockets opens first restaurant in Brazil

    Aliso Viejo, Calif. — John Rockets has opened its first restaurant in Guarulhos, Brazil, a suburb of Sao Paulo. It is the brand’s 100th location outside of the United States.

    Franchise partners Antonio Augusto Ribeiro de Souza and Nicolli Ciappina de Souza operate the restaurant at Shopping Internacional, a large retail center with 2.4 million visitors per month. The partners have committed to opening 29 additional restaurants in Brazil over the next 10 years.

  • Easton’s Northampton Crossings now 100% leased

    Purchase, N.Y. — Visionworks has taken 3,100 sq. ft. at Northampton Crossings in Easton, Pa., bringing the property up to 100% leased, according to National Realty & Development Corp., the center’s owner.

    NRDC also noted that existing tenants Regis Hair Salon and Chrin’s Cleaners have extended their Northampton Crossings leases.

    A Wal-Mart Supercenter, Regal Cinemas, Sam’s Club and Hobby Lobby anchor the 622,000-sq.-ft. power-center.

  • Burger 21 opens first Virginia Restaurant

    Tampa, Fla. — Burger 21, a new concept from The Melting Pot Restaurants, has announced the opening of its first restaurant in Virginia. To be located in Ashburn, the restaurant, which is approximately 3,200 sq. ft., will be one of four units planned for the Greater Washington, D.C., area.

    Currently, Burger 21 has 11 restaurants open and 17 franchised locations in development across the U.S. Plans call for a minimum of 15 additional restaurants in the Greater Washington, D.C., area.

     

  • The Retail Connection boosts development in Texas

    San Antonio, Texas — The Retail Connection has brought retail development veteran David Berndt on board to extend the company’s tenant driven retail development capacity. Berndt will join as Development Partner of The Retail Connection | Connected Development Services. In that role, he will lead the company’s development platform in Central and South Texas.

    The Retail Connection is expanding its capabilities across the board in Central and South Texas, adding senior brokerage leaders too.

  • Pizza Hut debuts new store formats

    Plano, Texas -- Pizza Hut has debuted new concept stores in York, Neb., and Pawtucket, R.I.

    The concepts feature an all-new "pizza by the slice" experience with slices cut from an 18-inch pizza.

  • Mid-America arranges sale of two RPAI centers

    Oakbrook Terrace, Ill. — Mid-America Real Estate Corp. has brokered the sale of two centers on behalf of Retail Properties of America.
     
    First, Phillips Edison & Company purchased the 134,229-sq.-ft. Duck Creek Plaza in Bettendorf, Iowa, for $19.7 million. Schnucks and Marshalls anchor Duck Creek Plaza, and Home Depot serves as a shadow anchor. Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate — Iowa LLC brokered the transaction exclusively on behalf of RPAI.

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