International Business

Chicago -- A recent report from Jones Lang LaSalle showed that the current state of real estate markets suggests a temporary deceleration in the on-going global real estate market recovery.

According to JLL’s latest Global Market Perspective report, sentiment is, however, recovering and full-year 2012 commercial real estate volumes are expected to match the robust levels seen in 2011.

New York -- Manhattan-based ATCO Properties & Management said it has acquired a Whole Foods retail location in Mill Valley, Calif., for $17.3 million.

Situated within the Alto Shopping Center on Mill Valley’s North side, the 23,200-sq.-ft. store opened a year ago and has established itself as one of the chain’s best performers, according to ATCO senior VP Damon Hemmerdinger.

Houston -- Discount supermarket operator Aldi announced it is preparing to enter the Houston market with 30 new stores over the next three years. The expansion will begin in spring of 2013, with the opening of more than 10 new locations.

With this expanded Texas footprint, Aldi is expected to bring 400 jobs and an investment of over $100 million of capital expenditures to the local community. The first Aldi stores in Houston will open in the spring of 2013, with more than 10 new locations.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.

Toronto -- Golf Town, Canada's largest specialty golf retailer, will acquire Golfsmith International Holdings Inc. for approximately $97.2 million. The Canadian company will pay $6.10 per share in cash, which represents a 30% premium over the Austin, Texas-based Golfsmith’s Friday closing stock price of $4.71.

Golfsmith operates 85 stores in the United States.

Los Angeles -- Lorna Jane, the premier Australian activewear brand for women, will open its second U.S. location, in Marina del Rey, Calif., this month. 

The company’s other U.S. location opened in March 2012, in Malibu, Calif. A third flagship store is scheduled to open in June in Santa Monica, and an online retail store will launch later this year.

New York -- RKF announced the opening of a Chicago office as part of its ongoing expansion into key urban markets nationwide. This is the firm’s seventh office; others include its New York headquarters, Las Vegas, Los Angeles, Miami, Northern New Jersey, and San Francisco.

“The opening of our Chicago office is a crucial part of our national strategy to expand RKF’s on-the-ground presence in key urban markets in the U.S.,” said RKF chairman & CEO Robert Futterman.

As retail real estate professionals from around the world prepare for the annual RECon convention in Las Vegas, it seems pretty clear to me that the anticipation for this year’s event is on the rise. This is a noticeable change from some recent years, where the recession eliminated any enthusiasm we once saw in the “glory days.”