Real Estate

Old Bridge, N.J. — Thanks to absorptions of numerous empty big-box space on Route 22, the vacancy rate in retail properties along northern New Jersey’s six major shopping corridors inched own to 8.1% from a high of 8.2% a year ago, according to the latest survey by R.J. Brunelli & Co.

Peoria, Ill. — MC Sports will open a 22,555-sq.-ft. location at Town Centre II in East Peoria this fall, according to Cullinan Properties, the firm that arranged the lease.

Town Centre II is owned by M&L Joseph Properties, a real estate investment partnership that owns retail and office properties throughout central Illinois. M&L Joseph and Cullinan are partners in an effort to enhance the retail mix at Town Centre II.

New York -- Fashion designer Robert Graham will open his first New York City branded retail store at 380 Bleecker Street in SoHo, joining high-end neighbors such as Burberry, Brunello Cucinelli, Marc Jacobs, rag & bone, and Ralph Lauren. The Robert Graham store is slated to open this fall.

Busan, South Korea — Shinsegae Simon, a joint venture between Shinsegae Group and Simon Property Group has announced the grand opening of Busan Premium Outlets, its third Premium Outlet Center in South Korea. The first two are located in Yeoju and Paju.

The new center is located on the southeastern tip of the Korean Peninsula and features 180 outlet stores. Fashion brands include Coach, Ermenegildo Zegna, Isabel Marant, Jill Stuart, Marc Jacobs, Roberto Cavalli and Vivienne Westwood.

HOUSTON — The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria. 

Oakbrook Terrace, Ill. — Pure Barre has leased space in two Chicagoland shopping centers, according to Mid-America Asset Management Inc., the firm representing the centers.

PB Holdco LLC, d/b/a Pure Barre took 1,845 sq. ft. at Church Street Plaza in Evanston, Ill., and opened in August. Co-tenants include CineMark Century Theatres, Bravo! Cucina Italiana, Urban Outfitters, Cost Plus World Market and others.

Cincinnati — Phillips Edison—ARC Shopping Center REIT Inc. has announced the acquisition of Yorktown Centre, a 196,728-sq.-ft. shopping center in Erie, Pa. Anchored by a Giant Eagle grocery store, Yorktown Centre is 100 percent occupied.

Columbus, Ohio — DSW has opened two new footwear, handbag and accessories stores, one in Norman, Okla., and a second in Victor, N.Y.

The new stores bring the total number of DSW stores to 379. Locations include 42 states, the District of Columbia and Puerto Rico.