Deals

Greensboro, N.C. – The Fresh Market has named Randall A. Young as its senior VP real estate and development effective Sept. 30. Young, 56, will oversee the company's real estate and development functions including market strategy development, site selection, store design, construction, store relocations and renovations.

Young most recently served as VP, real estate at Advance Auto Parts. He has also held a variety of real estate and construction roles at McDonald's Corporation, among other companies.

Neiman Marcus is closing in on a deal to be purchased by Ares Management and the Canada Pension Plan Investment Board for $6 billion, according to reports.

Seattle -- Nordstrom plans to Nordstrom Rack at Riverside Plaza in Riverside, Calif. The approximately 45,000-sq.-ft. store will be the Rack's first location in Riverside County when it opens in spring 2014.

Riverside Plaza is owned and managed by Vestar.

"We are excited to have Nordstrom Rack as a tenant at Riverside Plaza," said Jeff Axtell, Vestar VP of acquisitions and development. "Nordstrom Rack is a premier retailer who will be a great complement to our existing tenants."

Nordstrom never rushes things. It moves forward slowly, thoughtfully and creatively. And when the company makes a decision, observers tend to nod their heads and say: “Hey, that’s a good idea.”

A week ago, in a news conference announcing the acquisition of a West Side Manhattan Nordstrom store site for $102.5 million, Peter Nordstrom said: “We’ve had the intention and the drive, gosh, probably for the last 25 years to try to be here. We fully expect this to be our most successful store.”

New York -- Fashion designer Robert Graham will open his first New York City branded retail store at 380 Bleecker Street in SoHo, joining high-end neighbors such as Burberry, Brunello Cucinelli, Marc Jacobs, rag & bone, and Ralph Lauren. The Robert Graham store is slated to open this fall.

Purchase, N.Y. — Hobby Lobby, Marshall’s and Home Goods have leased more than 98,000 sq. ft. of space at 562,000-sq.-ft. Pohatcong Plaza power center in Phillipsburg, N.J., according to National Realty & Development Corp.

The retailers will occupy a redeveloped building where Wal-Mart operated before expanding to a Supercenter early last year — in NRDC’s adjoining Pohatcong Plaza II.

Peoria, Ill. — MC Sports will open a 22,555-sq.-ft. location at Town Centre II in East Peoria this fall, according to Cullinan Properties, the firm that arranged the lease.

Town Centre II is owned by M&L Joseph Properties, a real estate investment partnership that owns retail and office properties throughout central Illinois. M&L Joseph and Cullinan are partners in an effort to enhance the retail mix at Town Centre II.

Cincinnati — Phillips Edison—ARC Shopping Center REIT Inc. has announced the acquisition of Yorktown Centre, a 196,728-sq.-ft. shopping center in Erie, Pa. Anchored by a Giant Eagle grocery store, Yorktown Centre is 100 percent occupied.

Chattanooga, Tenn. — CBL & Associates Properties has closed on the sale of three malls and three related associated centers in a portfolio transaction for a gross sale price of $176 million in cash. The properties include Georgia Square Mall and Georgia Square Plaza in Athens, Ga.; Panama City Mall and The Shoppes at Panama City in Panama City, Fla.; and Rivergate Mall and Village at Rivergate in Nashville, Tenn.

Washington, D.C. — Pret A Manger has leased a two-story retail building on Capital Hill in Washington, D.C., according to Douglas Development, the building’s owner. Located just two blocks from the U.S. Capitol Building, the restaurant will occupy 4,300-sq. ft. and offer two floors of indoor dining as well as a large outdoor patio.

Originally from London, Pret A Manger opened its first U.S. location in 2000 near the New York Stock Exchange. Today, there are over 300 Pret A Manger locations worldwide.