Real Estate

Sport Chalet has opened its first urban retail concept, at the renovated FIGat7th center in downtown Los Angeles. Sleek and contemporary looking, the 27,000-sq.-ft. store puts the emphasis on education and training, with a dedicated central area, the “Expert Center,” for classes and clinics. It’s designed to facilitate customer interaction with in-store experts on any topic, ranging from bike repair to the area’s best surfing spots.

Wenatchee, Wash. -- Sportsman’s warehouse has signed a lease for a 49,000-sq.-ft. former Sears location at the Wenatchee Valley Mall in Wenatchee, Wash., according to Vintage Real Estate, which brokered the deal.

The new Sportsman’s will open in the spring of 2014. Sears will open a 10,813-sq.-ft. new format store in the mall.

Calabasas, Calif. -- Marcus & Millichap Real Estate Investment Services has named Paul Loubet as western region director of the national retail group.

Based in the firm’s Newport Beach, Calif., office, Loubet will direct more than 100 investment sales professionals operating from more than 25 offices comprising Marcus & Millichap’s western region.

NEW YORK — Walmart is ditching plans to build three stores in Washington, D.C., after the city council passed a bill on late Wednesday setting a higher minimum wage for large retailers.

“This was a difficult decision for us — and unfortunate news for most D.C. residents — but the council has forced our hand,” said Wal-Mart spokesman Steven Restivo in a statement released after vote, which passed 8 to 5.

Cranford, N.J. -- Winick Realty Group N.J. has announced the formation of an investment sales division in the company’s Cranford, N.J., office. The new division will focus on a wide range of properties from ne-leased investment-grade properties to shopping centers throughout New Jersey.

“The investment sales market is red-hot right now, with a substantial amount of business that reaches pre-recession levels,” said Tyler Bennett, senior VP and founding partner of Winick Realty N.J.

Cincinnati -- Phillips Edison-ARC Shopping Center REIT Inc. has acquired Boronda Plaza in Salinas, Calif. Food 4 Less, a subsidiary of Kroger, anchors the 93,071-sq.-ft. shopping center, which is 98% occupied.

When combined with the Food 4 Less lease, 68% of the rents for the center derive from national tenants. More information at Phillipsedison-arc.com.
 

New York -- The largest national retailer in New York City by store count, Dunkin’ Donuts has just inched further ahead with the opening of its 500th city location, a co-branded restaurant with Baskin-Robbins.

Located in Times Square, the restaurant features new Dunkin’ Donuts’ and Baskin-Robbins’ design concepts such as digital menu displays, updated furniture and lighting, electrical outlets, bar top areas for smartphones and computers and free Wi-Fi Internet access.

Brussels, Belgium -- Belgian grocer Delhaize Group said that it has reached an agreement to sell 25 Maxi, Mini Maxi, and Tempo stores in Montenegro to Expo Commerce.

The transaction is slated to close in the fourth quarter, and Delhaize and Expo will enter into a franchise agreement to maintain the Maxi, Mini Maxi and Tempo names.