Development/Redevelopment

Atlanta - Arby's Restaurant Group Inc. (ARG), franchisor of Arby’s, has signed development agreements with new and existing franchisees. ARG recently sold 14 company-operated restaurants in Tampa, Fla., to Mosaic Investments Inc., a fully integrated investment firm based in Atlanta. In addition to remodeling existing locations slated to commence at the end of 2014, Mosaic has committed to build 13 new Arby's restaurants in the Tampa area during the next nine years.

Columbus, Ohio — First Interstate Properties has named Steiner + Associates as the exclusive retail leasing agent for its 610,000-sq.-ft. mixed-use Legacy Village in Lyndhurst, Ohio.

Atlanta — JLL has announced the closing of the sale of Market Square at Montrose on behalf of LaSalle Investment Management to HP Realty LLC. Purchased for $32.5 million, the 510,231-sq.-ft. retail center hosts anchors Home Depot, J.C. Penney, Levin Furniture, Dick’s Sporting Goods, Regal Cinemas, Toys “R” Us and Cost Plus World Market.

“Akron and similar cities are back in favor with investors,” commented Kris Cooper, a JLL managing director.

Tampa, Fla. - The Melting Pot Restaurants  plans to expand its footprint in select markets throughout the U.S., and Canada. Domestically, the company is looking to recruit new franchisees in cities such as Anchorage, Alaska; Little Rock, Ark.; Fresno, Calif.; Hartford, Conn.; Des Moines, Iowa; New York City; Chattanooga, Tenn.; Charleston, S.C.; and Portland, Maine, as well as Houston and El Paso, Texas.

Woodland, Calif. – The Gateway Shopping Center in Woodland, Calif. has reportedly received permission to expand the types of businesses allowed in its use permit. According to the Woodland Daily Democrat, the Woodland Planning Commission is granting approval for food services, banks, professional service offices, nail salons and dry cleaners to be located at the center.

RadioShack and Payless Shoes are also reportedly awaiting approval to open stores at the center.

Hoffman Estates, Ill. - Sears Hometown and Outlet Stores Inc. has remodeled a Sears Hometown store in Helena, Mont. The store now has a fresh look.

New York — Vornado Realty Trust plans to spin off nearly 16.1 million sq. ft. of shopping center assets into a new publicly traded REIT by the end of 2014, leaving the company with a largely office-centric portfolio, according to SNL Real Estate.

The move will simplify Vornado’s investment strategy and enable the company to focus on the ownership of office assets in the Washington, D.C., and New York City regions, including the high-value Manhattan office over retail assets.

Ewing, N.J. — Giant Wine & Liquor, doing business as Buy Rite Liquor, has leased 6,000 sq. ft. at the 360,000-sq.-ft. Capitol Plaza in Ewing, N.J. Levin Management, the exclusive leasing and managing agent for the center negotiated the long-term lease.

Greenwich, Conn. — Newmark Grubb Knight Frank Retail Services has appointed Jessica Curtis as senior managing director in the Greenwich, Conn., office. Curtis will represent national clients in their expansion plans and work with local entrepreneurial retailers and restaurants ready to grow beyond their current locations.

Queens, N.Y. — The Children’s Place has leased a 3,799-sq.-ft. space near other child focused retailers at The Shops at SkyView Center in the Flushing neighborhood of Queens, N.Y. The retailer plans to open in May.