Development/Redevelopment

Cincinnati -- Phillips Edison-ARC Shopping Center REIT Inc. has acquired Boronda Plaza in Salinas, Calif. Food 4 Less, a subsidiary of Kroger, anchors the 93,071-sq.-ft. shopping center, which is 98% occupied.

When combined with the Food 4 Less lease, 68% of the rents for the center derive from national tenants. More information at Phillipsedison-arc.com.
 

New York -- Buffalo Wild Wings has leased its first Midtown Manhattan location in Times Square, according to Winick Realty Group.

The 15,000-sq.-ft. flagship restaurant includes a 5,000-sq.-ft. ground floor with 22-ft. ceilings, a 2,000-sq.-ft. mezzanine, two lower levels and a 2,000-sq.-ft. roof deck for outdoor dining.

Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp.’s investment sales group has brokered the sale of the 301,045-sq.-ft. Mount Prospect Plaza in Mount Prospect, Ill., a northwestern suburb of Chicago.

Ramco-Gershenson Properties Trust purchased the property for $36.1 million from a pension fund advised by JP Morgan Asset Management Inc.

Cranford, N.J. -- Winick Realty Group N.J. has announced the formation of an investment sales division in the company’s Cranford, N.J., office. The new division will focus on a wide range of properties from ne-leased investment-grade properties to shopping centers throughout New Jersey.

“The investment sales market is red-hot right now, with a substantial amount of business that reaches pre-recession levels,” said Tyler Bennett, senior VP and founding partner of Winick Realty N.J.

Virginia Beach, Va. -- Destination Maternity Corp. has leased 5,033 sq. ft. for a new flagship store in The Town Center of Virginia Beach, according to Divaris Real Estate.

Motherhood Maternity will close all of its locations in Southside Hampton Roads and move into the new Destination Maternity in September. The new store will carry all of the retailers concepts including Motherhood Maternity and A Pea in the Pod.

Calabasas, Calif. -- Marcus & Millichap Real Estate Investment Services has named Paul Loubet as western region director of the national retail group.

Based in the firm’s Newport Beach, Calif., office, Loubet will direct more than 100 investment sales professionals operating from more than 25 offices comprising Marcus & Millichap’s western region.

New York -- The London Candy Co. has taken 1,000 sq. ft. on Bleecker Street in Manhattan’s West Village, according to RKF, which brokered the deal.

The new candy and coffee shop will replace the retailer’s existing location at Lexington and East 94th Street.

Columbus, Ohio -- Build-A-Bear Workshop Inc. has relocated to open a next-generation store in Easton Town Center’s new 40,000-sq.-ft. family friendly Fenlon Square, according to Stein + Associates and The Georgetown Company co-developers of Easton Town Center.

Wenatchee, Wash. -- Sportsman’s warehouse has signed a lease for a 49,000-sq.-ft. former Sears location at the Wenatchee Valley Mall in Wenatchee, Wash., according to Vintage Real Estate, which brokered the deal.

The new Sportsman’s will open in the spring of 2014. Sears will open a 10,813-sq.-ft. new format store in the mall.

Highland Park, Ill. -- Landmark Theatres will re-open its remodeled five-screen Renaissance Place Cinema in mid-July.

The extensive renovation added a full-service bar and lounge, new seating and sound systems that include hearing loop technology, which wirelessly transmits sound from films to hearing aids with telecoils.