Tenant Update

Philadelphia — Century 21 has signed into The Gallery in Center City Philadelphia. It is the iconic fashion retailer’s first location outside of the New York market, according to the Pennsylvania Real Estate Investment Trust, the owner and manager of The Gallery.

Foothill Ranch, Calif. - The Wet Seal Inc. will begin winding down its Arden B brand. Arden B currently operates 54 mall-based stores and an e-commerce website.

Seattle – Nordstrom Inc. plans to open a Nordstrom Rack at Winrock Town Center in Albuquerque, New Mexico. The approximately 33,500-sq.-ft. store is scheduled to open in fall 2015.

The new Nordstrom Rack will be the company's first retail location in New Mexico.

Atlanta -- Boutique accessories and jewelry designer Kendra Scott will add two new Atlanta-area stores – one in Buckhead at The Shops Around Lenox, and the other in Alpharetta, at the Avalon Center.

The Shops Around Lenox store opens April 26, and will feature an interactive Kendra Scott Color Bar, where customers can design and personalize one-of-a-kind jewelry.

The Avalon Center store in Alpharetta is slated to open fall 2014.

New York – Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman's Retail Group are bringing Philadelphia-based, international Society jeweler, Paul Morelli, to 895 Madison Avenue, at the intersection of 72nd Street.

The jeweler has been a presence at Bergdorf Goodman since 1981. The multi-level first New York store will offer 40 feet of double frontage and face two Ralph Lauren mansions.

Irving, Texas — Yogurtland has signed a lease for 1,242 sq. ft. at Mansfield Crossing in Mansfield, Texas.

WindStar Properties represented the landlord, Mansfield Matlock Partners, in the transaction.  Transwestern Retail represented Yogurtland.

Plano, Texas – Rent-A-Center Inc. reported declining net earnings for first quarter 2014, even as revenues slightly grew. The company said it plans to optimize its U.S. store footprint by consolidating about 150 stores into existing stores by the end of the second quarter of fiscal 2014.

Net earnings fell 37% to $28.9 million from $46.1 million, while total revenues increased 1.8% to $833.7 million from $819.3 million. Same-store sales dropped 0.8%.

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.