Deals

New York City -- RCS Real Estate Advisors announced that Moe Puri has been promoted to VP from assistant VP.

A member of the RCS Real Estate Advisors team since 2008, Puri’s primary responsibilities included re-negotiating leases on behalf of clients. He has since elevated his expertise and, as a VP, is managing several key client real estate portfolios.

Charlotte, N.C. -- X Team International, an international alliance of retail real estate advisors, said that Charlotte, N.C.-based partner The Chambers Group has completed a lease for the first small-format Burlington Coat Factory store in Charlotte.

Scheduled to open Oct. 1 at Woodlawn Marketplace, the smaller format store will be roughly 48,000 sq. ft. and joins T.J. Maxx and Family Dollar.
 

New York City -- Mexican billionaire Carlos Slim, through his Inmobiliaria Carso SA investment fund, spent $8.8 million to up his stake in Saks, according to Bloomberg. 

Slim, who was Saks’s largest shareholder before the purchases and last acquired the New York-based retailer’s shares in April 2009, raised his stake to 16% from 15.7%, the report said. Slim has made it a practice to add to his investment holdings when the markets slump.

Davis, Calif. -- Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, closed on the acquisition of Oak Shade Town Center, a 103,762-sq.-ft. neighborhood shopping center anchored by Safeway, Rite Aid and OfficeMax in Davis, Calif. The center is located within a mile of the University of California, Davis.

The property was purchased on August 18 for $35 million from the center’s original owner. 

 

If you’re peeking at the news between slats in your fingers, scared to see where the S&P 500 sits or what’s happening with the NASDAQ, the Dow and the price of oil, you’re quite obviously not alone. Each day is a frightening new one, and no one – not even economists – are quite sure what’s going to happen next.

New York City -- Spencer Gifts, a mainstay of malls across North America, has leased its first-ever location in Manhattan. The 60-year-old chain operates more than 600 stores in the United States, Canada and Puerto Rico.

As one of Spencer’s few free-standing locations, the store, located downtown near New York University, encompasses over 1,840 sq. ft. on the ground floor. It is due  to open in advance of the holiday season.

Mission Viejo, Calif. -- Watt Commercial Properties said it has completed a $6 million renovation of Alicia Towne Plaza in Mission Viejo, Calif.

The 19-month redevelopment project included converting an existing Mervyn’s building for L.A. Fitness and updating the façade treatment for the remainder of the 150,000-sq.-ft. property.

Detroit -- Marcus & Millichap Real Estate Investment Services said it has promoted Simon Jonna to the position of VP investments.

Jonna began his career with Marcus & Millichap in May 2005, specializing in the sale of retail properties. Most recently, he held the position of associate VP investments.