Tenant Update

Mount Vernon, Ill. — Sansone Group and Pine Tree Commercial Realty LLC have signed a lease extension with Subway restaurant at Times Square Mall in Mount Vernon, Ill. As part of the extension, Subway will expand its restaurant by approximately 500 sq. ft.

Sansone Group (www.sansonegroup.com) and Pine Tree (www.pinetreecommercial.com) own the 269,328-sq.-ft. center in partnership with the Wanxiang America Real Estate Group.

Columbus, Ohio – Lane Bryant is opening four stores at different shopping centers on Nov. 8. These locations include a refreshed store at Eastwood Towne Center and a new store at The Marketplace at Delta Township in Lansing, Mich., as well as new stores at the Clackamas Promenade in Clackamas, Ore., and the Epps Bridge Center in Athens, Ga.

Lane Bryant operates more than 800 full-line and outlet stores in 48 states nationwide.

New York -- Winick Realty Group has welcomed the broker team of Alison Cohen and Susan Preisler to its New Jersey branch, in Cranford. Cohen and Preisler have been partners for more than a decade, starting up a retail division at Hirschman Realty before moving to Vanguard Realty.

As a team, they specialize in leasing regional shopping centers, a specialty they plan to continue as part of Winick, working with both landlords and tenants.

Brooklyn, NY. -- Home furnishings retailer West Elm will open a new store in Huntington Station, N.Y. at the Walt Whitman Shops on Nov. 7. The 9,948-sq.-ft. store is the brand’s first location on Long Island.

“We are excited to continue to grow the West Elm brand with new locations around the world,” said Jim Brett, president of West Elm. “The Walt Whitman store will be a creative, community-driven space with products and services designed to help customers discover their personal style at home.”

City of Commerce, Calif. — 99¢ Only Stores has leased 18,728 sq. ft. in Fairmeadows Shopping Center on East Camp Wisdom Road in the Dallas/Fort Worth area. The Fairmeadows tenant line-up includes Dollar

General, Popeye’s, Firestone and Dental Republic. The Weitzman Group, the exclusive leasing agent for the center, handled negotiations for the landlord.

New York -- American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.

ARCP has secured $2.75 billion in fully committed financing from Barclays. The loan is expected to close in the first half of next year.

Updated ARCP pro forma 2014 guidance indicates that adjusted funds from operations will move from $1.13 to $1.19 per share, compared with 2013 guidance of $0.91 to $0.95 per share.

Dallas — SRS Real Estate Partners welcomes T. Michael McNamara as first VP in the Tampa, Fla., office. A seasoned commercial real estate veteran with 23 years of experience, he will focus on tenant representation, landlord representation and land brokerage services across Tampa Bay and Central Florida.

McNamara comes to SRS from Sperry Van Ness where he was a senior advisor specializing in the sale and leasing of retail, office and industrial properties in the Sarasota, Orlando and Tampa Ba markets.

Tucson, Ariz. — Mama’s Hawaiian Bar-B-Cue has signed a lease for a 2,000-sq.-ft. restaurant in Cortaro Plaza in Tucson, Ariz. The new location, the third for the young chain, is expected to open in mid-January 2014. The first two locations are near the University of Arizona and in Sahuarita, Ariz., a Tucson suburb.

Commercial Retail Advisors represented both the landlord, Cortaro Investments and the tenant, Mama’s Family Restaurants in the lease transaction.