Deals

NEW YORK — A major renovation may be underway at Lululemon’s flagship store in Manhattan, but the fast growing retailer isn’t missing a beat.

The Vancouver, B.C.-based operator of 201 stores has set up a temporary store at 1142 Third Ave., across from its flagship location to satisfy the New Yorkers’ needs while the four-month renovation is underway.

Seattle -- Nordstrom announced plans to open two new Nordstrom Rack stores, with one in Atlanta, at the Perimeter Expo shopping center, which is owned by Kimco Realty Corp., and the other in Naples, Fla., at The Mercato.

The 36,000-sq,-ft. Atlanta store is scheduled to open in fall 2013. The 30,000-sq.-ft. Naples store is scheduled to open in fall 2013.

Fort Worth, Texas -- Columbus, Ohio-based Glimcher Realty Trust announced Monday the acquisition of University Park Village, an open-air center located in Fort Worth, Texas.

The 173,220-sq.-ft. center is 97% occupied, generates sales of more than $800/sq. ft., and is tenanted by Apple, Anthropologie, J. Crew, Lululemon Athletica and Madewell, among others.

Glimcher purchased University Park Village for $105 million.

Oak Brook, Ill. -- Inland Diversified Real Estate Trust announced Monday the acquisition of a majority interest a portfolio of six grocery/home-improvement-anchored retail properties located in Las Vegas.

The properties were acquired in a joint venture between a subsidiary of Inland Diversified and affiliates of the seller Territory Inc.; the joint venture valued the portfolio at about $296 million.

New York -- Douglas Elliman's Retail Group said Monday it has arranged a lease at 55 Spring Street, between Lafayette and Mulberry Streets, for Eight Turn Crepe, a Japanese-based restaurant chain.

The opening marks the quick-serve chain’s U.S. debut.
 
The space was previously occupied by Choco Bolo.

Cedar Rapids, Iowa -- Jones Lang LaSalle’s Capital Markets group said Thursday that it has brokered the sale of Westdale Mall in Cedar Rapids, Iowa, on behalf of Tremont Capital Corp. and Cedar Rapids Properties.

The 743,369-sq.-ft. property is anchored by J.C. Penney and Younkers.

Tempe, Ariz. -- Vestar, owners of the 1.3 million-sq.-ft. Tempe Marketplace, announced that it sold a 2.38-acre parcel on its southwest corner to Chicago hot dogs and beef eatery Portillo’s.

The restaurant is slated to open a 7,000-sq.-ft. location in summer 2013.

Tempe Marketplace features 1.3 million sq. ft. of retail space and more than 100 retail and restaurant tenants.

Chicago -- General Growth Properties said Thursday it was informed by Brookfield Asset Management that affiliates of Brookfield acquired the GGP warrants held by affiliates of Pershing Square Capital Management.

The warrants represent the right to acquire 18.43 million shares of GGP stock at a value of $0.01 per share.

General Growth also said it has been offered by Brookfield the right to acquire the warrants, for the same price of $271.88 million paid by Brookfield, within the next 30 days.