Tenant Update

New Hyde Park, N.Y. — Kimco Realty Corp. has announced a purchase and sale agreement to acquire a 24-property retail portfolio in New England for $270 million, which includes the assumption of $121.5 million of mortgage debt.

The 1.4-million-sq.-ft. portfolio is 96% occupied. It includes 17 properties in the Boston metropolitan market. Anchor tenants include Whole Foods, Trader Joe’s, Lowes, Kohl’s, Petco, Pier 1 Imports, Aldi Supermarket, CVS and Walgreens.

New York — GRK Fresh, a fast-casual Greek restaurant located at 111 Fulton Street, has signed a lease for its second Manhattan location at 451 Lexington Avenue in the Grand Central area. The new GRK Fresh will span 2,150 sq. ft.

Winick Realty Group represented GRK Fresh in its search for a Midtown location. CBRE Group represented the landlord — Landlord Regency Development.

New York -- Lane Bryant has announced the opening of three new stores and one relocation of an existing store.

The specialty apparel retailer plans to open a new store in the Miracle Mile Shopping Center in Monroeville, Pa., on Oct. 25, with the grand opening running through the weekend.

Lane Bryant also plans to open a new store at Rushmore Crossing in Rapid City, S.D. on Oct. 25, with the grand opening continuing through Sunday.

Columbus, Ohio – Lane Bryant opens three new locations and a relocated store on Oct. 25. The stores are all located at shopping centers.
    
The new stores are located at Miracle Mile Shopping Center in Monroeville, Pa., Rushmore Shopping Center in Rapid City, S.D., and Commons at Magnolia in Florence, S.C. Lane Bryant also opens a relocated store outside of The Promenade at Millcreek Mall in Erie, Penn. on Oct. 25.

Louisville, Ky. — The Mansour Group has announced the sale of Pet Smart and TJ Maxx, a 49,410-sq.-ft. retail box on an outparcel located in a 218,000-sq.-ft. shopping center owned by Weingarten. The seller was a national real estate advisory group and the buyer was a private investor.

 The offering is part of a large portfolio of similar former Service Merchandise assets — all exclusively listed by The Mansour Group.

Richmond, Va. — Divaris Real Estate has announced the renewal of a 26,537-sq.-ft. Big Lots lease in the Midlothian Crossing Shopping Center in Richmond, Va.

DRE manages and leases the center for landlord Midlothian Associates. Other tenants include Goodwill, Family Dollar and Red Wing Shoes.

Las Vegas — Miracle Mile Shops at Planet Hollywood Resort & Casino is ushering in four new dining and retail destinations spanning 9,192 sq. ft.

Two new restaurants, Meatball Spot and Ketchup Premium Burger Bar will soon boost the restaurant count 17.

Tervis, the insulated tumbler retailer, will open at Miracle Mile Shops in December.  Slated to open in February 2014, Shoe Palace will add its selection of footwear, apparel and accessories to the center.

Austin, Texas — CBRE’s National Retail Investment Group has announced the sale of The Market at Parmer Lane on behalf of LPC Retail, a division of Dallas-based Lincoln Property Company. The buyer is a Texas-based private real estate fund advised by Crow Holdings Capital Partners. Terms were undisclosed.

H-E-B Grocery anchors the 122,349-sq.-ft. center, which is 93.3% occupied.

New York — Famous Footwear has leased its second Manhattan location at 48-50 West 14th Street between Fifth and Sixth Avenues in Union Square, according to Winick Realty Group. The 7,800-sq.-ft. store is a block-through retail site with 50 feet of frontage on 14th Street and 25 ft. of frontage adjacent to the New School entrance on 13th Street.

Ripco represented Famous Footwear in the transaction. Winick represented the landlord, CB Developers.

The Bon-Ton Stores plan to close its location in the mall at Steamtown in Scranton, Pa. The company will not renew the lease, which terminates January 31, 2014. The closing will impact approximately 50 employees at this location.

The company acquired the leasehold interests in the Scranton store in 2000. It does not expect costs associated with the closing of the location to be material.