Deals

New Rochelle, N.Y. -- Welco Realty, an X Team Partner, said it has arranged a lease representing Pier 1 Imports for Rego Center, in Queens, N.Y., for 8,500 sq. ft.

The firm represented both the landlord and tenant for leases at Bay Plaza Shopping Center, Bronx, N.Y., for 9,599 sq. ft. and at Summerhill Square, in East Brunswick, N.J., for 9,000 sq. ft.
 

Walnut Creek, Calif. -- Grubb & Ellis Co. said that Bay Area Family Fitness Centers has leased 38,133 sq. ft. of retail space at Gould Shopping Center, in San Jose, Calif.

The space will serve as the second location for the company, which markets affordable fitness. It is expected to open by year-end.
 

Hoffman Estates, Ill. -- A Friday report by Wall Street Journal said that Sears Holdings Corp. is in an active push to lease surplus space to other retailers. Its real estate division has listed on its website some 4,000 of its namesake and Kmart stores that have space for other merchants or retail operations to lease.

New York City -- Apparel designer Yigal Azrouel will open its first freestanding store, for its Cut25 lower-priced, younger collection, in the Soho South area of Manhattan.

Prudential Douglas Elliman’s Retail Group arranged a lease at 129 Grand Street, between Broadway and Crosby Street, for the new store. The opening date hasn’t yet been announced.

 

Minneapolis -- Target Corp. said Friday that it has finalized its real estate transaction with Canadian retailer Zellers with the selection of 84 additional Zellers leases. Target Canada will open between 125 and 135 stores, most by 2013. The discounter also entered into a deal with Sobey’s, Canada’s second largest supermarket chain, to supply its stores with food.

When Quincy, Mass.’s new downtown shopping district is officially unveiled, the City will host some of America’s premier retail destinations — thanks to a first-of-its kind joint venture between Street-Works Development and National Realty and Development Corp., based in Purchase, N.Y.

The partnership was announced on Sept. 21 by the City of Quincy, Street-Works and NRDC.

New York City -- BJ’s Wholesale Club reduced the size and increased the rate on $2.18 billion of loans backing its buyout by Leonard Green & Partners LLP and CVC Capital Partners, Bloomberg reported.

The retailer cut a first-lien piece by $50 million to $1.075 billion, the report said, citing a source who declined to be identified.
 

Millville, N.J. -- Fameco Real Estate, LP said that Hobby Lobby and Dollar Tree have signed leases at Cumberland Crossing, located in Millville, N.J., bringing the shopping center to nearly 90% leased.

Cumberland Crossing is a 258,414-sq.-ft. community center anchored by Walmart. Hobby Lobby signed a lease for 58,822 sq. ft. and Dollar Tree signed a lease for 12,000 sq. ft.
 

Oakbrook Terrace, Ill. -- Mid-America Asset Management announced that among the new leases the firm has signed in July and August, there were several large transactions spread across Chicagoland, Southeast Wisconsin and Northwest Indiana.

In Aurora, Ill., home furnishings retailer Premier Furniture Outlet leased 38,975 sq. ft. at Aurora Marketplace, opening in September 1. Anchors include Sports Authority and Hobby Lobby.  
 

Dallas -- SRS Real Estate Partners said it has hired Andrew Cornwell as a research analyst in the Austin/San Antonio office.

Prior to this role, Cornwell was an intern for SRS where he focused on research while working closely with the investment sales team.