Deals

El Paso, Texas -- Dallas-based Venture Commercial Real Estate said it has negotiated leases for two retailers entering or expanding in the El Paso, Texas, market.
 
Rue21 has opened a 5,000-sq.-ft. store at El Paseo Marketplace, its fourth location in El Paso.

Jared, The Galleria of Jewelry has signed a lease to open its first El Paso location in a 6,057-sq.-ft. store at The Fountains at Farah, a 600,000-sq.-ft. power lifestyle center currently under construction and opening fall 2013.   

Los Angeles -- Midtown Shopping Center Associates said it has acquired the land under Midtown Shopping Center plus two adjacent properties totaling 14.56 acres for $42.5 million from Catellus Development Corp., based in Denver.  

New York -- Winick Realty Group said that Blink Fitness will open a 15,500-sq.-ft. facility at the base of Chelsea Park, a new residential building located at 260 West 26th St. in New York City.

Blink will have a ground-floor entrance at 308 Eighth Avenue, which will lead down to an expansive lower-level gym. The 12-story building is currently home to 204 luxury rental apartments ranging from studios to two-bedroom units.  

Virginia Beach, Va. -- Divaris Real Estate has announced the completion of several leases for retail space in Virginia Beach, Norfolk and Richmond, Va.  
 
The first lease was signed with O’Reilly Auto Parts for 12,608 sq. ft. in a former Rite Aid pharmacy located in Norfolk.  O’Reilly operates 13 other stores in Hampton Roads.
 

New York -- RKF has arranged a 1,500-sq.-ft. lease at 35 Crosby Street in SoHo for men’s e-commerce apparel brand Bonobos, which will open its first stand-alone Guideshop location in New York City.

Bonobos currently operates five other brick-and-mortar locations elsewhere.

In the cast iron district of SoHo, the retailer will operate in 1,000 sq. ft. on the ground floor and 500 sq. ft. on the lower level of the seven-story building. The new store is slated to open in mid-May.

Cary, N.C. -- Indianapolis-based Kite Realty Group announced that Petco has leased 12,500 sq. ft. at Parkside Town Commons, located in Cary, N.C.
 
As well, Total Wine & More has leased 23,890 sq. ft. at International Speedway Square, in Daytona Beach, Fla.

When The Mall at Bay Plaza opens to the public in 2014, adjacent to the highly successful outdoor Bay Plaza Shopping Center, it will be heralded as the first enclosed fashion mall in the New York City area in nearly 40 years.

That’s big news. Particularly at a time when new development has taken a back seat to redevelopment of existing assets.

MINNEAPOLIS — Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.

Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.