REAL ESTATE

  • Building #19 plans to open Rug Dept. stores

    Hingham, Mass. – Building #19, the New England closeout retailer, which recently shut its doors after declaring Chapter 11 bankruptcy, is planning to reopen at least a few stores as specialty closeout rug retailers under the banner of “The Rug Dept.”

  • KeyPoint adds six management assignments

    Burlington, Mass. — KeyPoint Partners has added six new properties to its property management portfolio, five in Massachusetts and one in Virginia. The assignments consist of retail, office and industrial space totaling more than 1.39 million sq. ft.

  • ICSC’s U.S. Design and Development Award winners are ...

    New York — The annual ICSC U.S. Design and Development Awards competition focuses on four general categories: Innovative Design and Construction of a New Project; Renovation or Expansion of an Existing Project; Sustainable Design; and Retail Store Design.

    The 2013 gold winners in the New Development category are City Creek Center, Salt Lake City, and Mosaic District, Fairfax, Va.

    In the Renovations and Expansions, the silver winner is: Cross County Shopping Center, Yonkers, N.Y.

  • CBRE completes sale of Kohl’s in Avondale, Ariz.

    Phoenix — CBRE has completed the sale of a single tenant net leased Kohl’s department store at the Alameda Crossing shopping center in Avondale, Ariz. The 88,402-sq.-ft. retail property on 8.89 acres commanded a price of $10.6 million.

    CBRE’s Phoenix office represented both the buy and the seller in the transaction. The seller was La Jolla, Calif.-based Collins Family Trust, Stanford Decedents Trust and Sarn Family Trust. The buyer was Investors Associated LLP of Oconomowoc, Wis.

  • PizzaRev to open in Burbank, Calif.

    Los Angeles — PizzaRev has completed construction on its sixth location and will open in Burbank, Calif., on Dec. 12. PizzaRev uses custom-built 9,600-pound stone-bed “Fire-Deck” ovens to fry pizzas in less than three minutes.

  • La Maison Simon to open first Ontario store in 2016

    Quebec City, Quebec – La Maison Simons will open a 113,000-sq.-ft. flagship at Square One Shopping Centre in Mississauga, Ontario in spring 2016. The two-level Simons store will be the retailer’s first store in Ontario and represents a $52 million investment and will occupy a large portion of the existing Sears store as part of Square One's ongoing development projects.

  • Levin to lease Stafford Park in Manahawkin, N.J.

    North Plainfield, Manahawkin, N.J. — The Stafford Park shopping center in Manahawkin, N.J. has named Levin Management as its exclusive leasing agent. The 350-acre mixed-use redevelopment project includes 400,000 sq. ft. of retail space, including anchor tenants Costco and Target. The site has received approval to add another 195,000 sq. ft. The new retail space includes several pad sites.

  • Devonshire buys Great Lakes in Mentor, Ohio

    Whitehouse, Ohio — Devonshire REIT has announced the closing of its acquisition of the Great Lakes Plaza shopping center in Mentor, Ohio, a suburb of Cleveland. Michaels and hhgregg co-anchor the center, which is 100% leased.

    Devonshire bought the 81,349-sq.-ft. center from Simon Property Group for $8 million. Goldman Sachs Mortgage Company provided financing.

  • DDR completes redevelopment of Roswell, Ga., center

    Beachwood, Ohio — DDR Corp. has announced the completion of a $12 million redevelopment project at Sandy Plains Village, a power center located in the Atlanta suburb of Roswell.

    The redevelopment installed a 60,000-sq.-ft. Wal-Mart Neighborhood Market in a space formerly occupied by a traditional grocer. The new location is DDR’s 79th Wal-Mart store and the company’s eighth in the Atlanta market.

  • Four new upscale retailers come to Galleria in Houston

    Houston -- Simon Property Group announced today that four new, high-end retailers, Rolex, Tod's, Trina Turk and Tourbillon, will be added to the retail mix at The Galleria shopping center in Houston. Gucci, Tory Burch, Zara, Sephora and Club Monaco will also execute lease renewals and expansions in 2014. In addition, Chanel has renewed its lease and will be renovating the boutique.

    Details of 2014 activity at The Galleria in Houston include:

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