Real Estate

Philadelphia -- Five Below will expand its presence in Texas by opening 11 stores in the Dallas-Fort Worth area on Sept. 12, 2013. The teen retailer’s entry into Dallas follows four successful store openings in Austin, completed in August of this year.

August seems to have delivered a mixed bag to various retailers, but Costco seems to have fared well with reported net sales of $7.95 billion for the four weeks ended Sept. 1, an increase of 7% from $7.44 billion during the prior-year period.

Comparable-store sales in the U.S., adjusted to exclude changes in gasoline prices, increased 5% for August and for the fourth quarter and increased 6% for the 52-week period.

For the fourth quarter, the company reported net sales of $31.8 billion, an increase of 1% from $31.5 billion in the prior-year quarter.

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.

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.

Houston -- Saks Inc. will open a new flagship store immediately adjacent to its existing location in the Houston Galleria, featuring 198,000 sq. ft. over two levels and a state-of-the-art store design. The current store will remain open until the new store opens in fall 2015. Once the old store closes, it will be converted to a two-level mall wing connecting the new Saks to Neiman Marcus and adding 35 retailers and restaurants.

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. 

Atlanta — Brixx Wood Fired Pizza and Which Wich? Superior Sandwiches have leased restaurant space at The Avenue Peachtree City in Atlanta. Brixx will open Sept. 17 in what will be its third Georgia location.

Which Wich? with more than 50 kinds of sandwiches will make The Avenue is 15th Georgia location.