Real Estate

Hilton Head Island, S.C. -- Shelter Cove Towne Centre, an outdoor mall now under construction, has taken a bold step to engage the surrounding Hilton Head Island community — both residents and visitors. It has set up shop on a crowd-sourcing website called Popularise and asked Hilton Head residents to suggest tenants for the 290,000-sq.-ft. property.

Eagan, Minn. -- Steak buffet chain Buffets Inc. said that it has appointed Keith Kravcik as its CFO. The company also created a new position – director, office of the CEO and corporate administration – and promoted Jackie Fiebelkorn to the slot.

Kravcik will be responsible for all finance, accounting, purchasing and IT functions as well as continuing to strengthen the back office services organization. Fiebelkorn will lead the office for the CEO and oversee administrators throughout the organization.  

Oak Brook, Ill. – McDonald’s has signed a contract with Vietnamese businessman Henry Nguyen to serve as a developmental licensee for the company in Vietnam.

Nguyen, founder of Good Day Hospitality and managing partner of IDG Ventures Vietnam as well as a former part-time McDonald’s store employee in the U.S., is expected to open Vietnam’s first McDonald’s restaurant in Ho Chi Min City in early 2014.

Los Angeles -- Arden Group, owner of the 16-unit Gelson’s Market grocery chain, said that the company is exploring its strategic options and has hired financial adviser Moelis & Co. to help with the review process.

The options may include a possible sale of the company.

No timeline for any potential transactions has been outlined.

Boston -- Bonefish Grill has signed up for 4,614 sq. ft. at the Wayside Shopping Center in Burlington, Mass., the retailer’s first Massachusetts location, according to The Wilder Cos., Wayside’s leasing, management and development firm.

Part of the multi-phase revitalization of the open-air center, Bonefish anticipates opening in late fall of this year.

Cincinnati, Ohio -- Kimco Realty has sold Colerain Towne Centre, a 400,000-sq.-ft. Cincinnati power center, for $30 million, according to Mid-America Real Estate Corp.’s investment sales group, which represented Kimco in the transaction in cooperation with Anchor Associates. The buyer is a private real estate company.

Houston -- CBRE’s national retail investment group has arranged the sale of Sheldon Forest Shopping Center in Channelview, Texas, east of Houston, on behalf of Weingarten Realty Investors.

Gerland’s Food Fair anchors the 97,380-sq.-ft. center. Major tenants include Family Dollar and Burke’s Outlet. Both Phase I and II of the center are 100% occupied.

Capcor Partners purchased the property for an undisclosed price.

Brooklyn, N.Y. -- West Elm is opening its first location in Missouri – at the St. Louis Galleria.

The 8,385-sq.-ft. store, slated to open in July, will incorporate works by local artists as part of its plan to support St. Louis talent.

“Our customers are as passionate about supporting artists in their local communities as we are at West Elm,” said Jim Brett, president of West Elm. “We are proud to be incorporating some of St. Louis’ most talented artists into the assortment for our new store.”