REAL ESTATE

  • Forman Mills takes former Kmart in Franklin Park

    Chicago, Ill. — Forman Mills, an off price apparel retailer, has leased 38,487 sq. ft. at Grand Plaza in Franklin Park, Ill., according to CBRE, the leasing agent. The new store plans to open next spring.

    The Forman Mills lease completes the lease up of a 96,260-sq.-ft. former Kmart, which closed in 2011.  

    CBRE began leasing the space in 2012. The first lease was with Big Lots for 29,000 sq. ft. Next came a 29,000-sq.-ft.- lease to Savers Thrift Superstore, which later took another 29,000 sq. ft.

  • Kroger buys 12 acres at Hampton Roads Crossing

    Virginia Beach, Va. — Kroger has acquired 12 acres at the Hampton Roads Crossing mixed-use project in Suffolk, Va., according to Divaris Real Estate (www.divaris.com), the broker that represented the seller, Terry/Peterson Investment Thirty, in the transaction.

    Kroger intends to construct a 113,361-sq.-ft. Kroger Marketplace on the site.

  • Mattress Warehouse to Falls Church, Va., center

    North Plainfield, N.J. — Mattress Warehouse has leased a 21,404-sq.-ft. space at Crossroads Place in Falls Church, Va., according to Levin Management (www.levinmgt.com), the leasing and management agent for the 336,248-sq.-ft. shopping center. The lease signing brings retail occupancy at the center to 100%. JBG Rosenfeld Retail served as the tenant’s broker in the transaction. Plans call for the new store to open in March.

  • Tile Shop opens third Boston-area store

    Plymouth, Minn. – The Tile Shop is launching its third retail store in the Boston metropolitan area. The new 15,805-sq.-ft. store will be located in the Worcester suburb of Shrewsbury, Mass.

    The new store will join The Tile Shop’s other Boston area stores in Natick and Avon, Mass.

  • Transwestern brokers two East Bay leases

    Walnut Creek, Calif. — Transwestern has brokered leases on behalf of two retail tenants: 9Round Fitness & Kickboxing and Buon Vino Manufacturing.

    9Round Fitness has taken a 1,300-sq.-ft. lease for five years in the Diablo Plaza in San Ramon, Calif.  Buon Vino signed a 1,635-sq.-ft. lease for three years at 1545 Locust St. in downtown Walnut Creek, Calif.

  • Metro PCS expands to Tucson

    Tucson, Ariz. — Metrocom-DBC doing business as Metro PCS is expanding with a new 1,380-sq.-ft. store in Tucson’s Northgate Plaza. The prepaid wireless service provider has 14 stores in California and two in Phoenix. Metro PCS is planning four new stores in Tucson. T-Mobile owns Metro PCS.

    Commercial Retail Advisors represented the landlord, TNP SRT Portfolio I, in the transaction. The tenant was self-represented.
     

  • REI to open two Columbus, Ohio, stores next year

    Seattle — Next fall, REI will open a 23,000-sq.-ft. store at Sun Center in Columbus, Ohio. That store will join a previously announced 23,400-sq.-ft. REI slated to open in the spring at Easton Gateway. The retailer opened its first Ohio store in Cincinnati in 2012.

    REI is the nation’s largest consumer cooperative with 5.1 million active members and 132 stores.

  • Cleveland-area center sells for $17.79 million

    North Olmsted, Ohio — Marcus & Millichap Real Estate Investment Services has arranged the sale of North Olmsted Towne Center, a 95,446-sq.-ft. shopping center in North Olmsted, Ohio, approximately 17 miles southwest of Cleveland. The selling price was $17.79 million, $186 per square foot.

    Towne Center tenants include David’s Bridal, The Tile Shop, Jimmy John’s, La-Z-Boy, Men’s Wearhouse, Moe’s Southwest Grill, Party City and Pearle Vision.

  • Stirling and JCH acquire land for New Orleans center

    Covington, La. — Stirling Properties and JCH Development have closed on land acquisition and development financing for Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans at the intersection of South Claiborne Avenue and Toledano Street. First NBC Bank of New Orleans provided financing for the project.

  • Devonshire REIT acquires five Ohio properties

    Whitehouse, Ohio — Devonshire REIT has acquired five retail properties in Ohio for $31 million. The properties include:

    •    Monroe Street Square Shopping, a 124,904-sq.-ft. center in Toledo, Ohio, anchored by Hobby Lobby. Tenants include Sally Beauty Supply, Gamestop, Play It Again Sports and Sprint PCS.

    •    Bed Bath & Beyond Plaza, a 100% leased, 55,139-sq.-ft. center in Toledo, anchored by Bed Bath & Beyond. Tenants include SalonCentric and Edward D. Jones.

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