Real Estate

Chattanooga, Tenn. -- CBL & Associates Properties said Thursday that it has agreed to acquire Northgate Mall in CBL’s hometown of Chattanooga, for $11.5 million in cash.

The mall was listed for sale through an online auction. CBL anticipates closing on the transaction by Oct. 6.

Voorhees, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced Thursday that the Rizzieri School for the Healing Arts has opened at Voorhees Town Center on the Town Center Boulevard.

The school is an expansion of the current Rizzieri Studio Salon and Rizzieri Aveda School for Beauty & Wellness.

Elkridge, Md. -- Jacksonville, Fla.-based Regency Centers said that it has leased retail space in Elkridge, Md., at Elkridge Corners shopping center to Green Valley Markets. 

A Baltimore-based grocery wholesaler/retailer founded in 1915, B. Green & Company is opening its third retail location and its first new full-service neighborhood supermarket concept Green Valley Markets in a 39,571-sq.-ft. space. Interior and exterior store improvements will begin this month. The store opening date is still to be finalized.

Dallas -- SRS Real Estate Partners said Friday that it has named Mark Kapnick senior VP in the firm’s New York office.

Kapnick will join SRS’ newly formed SRS Urban team, which focuses on the major urban retail markets in the United States. In the Metro New York market, he will help lead the SRS Urban push into landlord services and investment sales.

Kapnick was previously with Robert K. Futterman and Associates, first as director then senior managing director specializing in retail leasing and investment sales.
 

Orlando, Fla. -- Crossman & Co. said Friday it has negotiated three lease agreements totaling 4,955 sq. ft. at shopping centers in Largo and Marco Island, Fla.

Sage’s West Bay Bistro leased 2,023 sq. ft. for five years at Pinellas Shopping Center, in Largo. At the West Bay Village Town Centre, in Largo, La Chic salon and spa leased 1,632 sq. ft. for three years. And, Harrison negotiated a new lease at the Shops of Marco, in Marco Island, along with Sapphire Dry Cleaners for 1,300 sq. ft.
 

New Rochelle, N.Y. -- Welco Realty, an X Team Partner, said it has arranged a lease representing Pier 1 Imports for Rego Center, in Queens, N.Y., for 8,500 sq. ft.

The firm represented both the landlord and tenant for leases at Bay Plaza Shopping Center, Bronx, N.Y., for 9,599 sq. ft. and at Summerhill Square, in East Brunswick, N.J., for 9,000 sq. ft.
 

Walnut Creek, Calif. -- Grubb & Ellis Co. said that Bay Area Family Fitness Centers has leased 38,133 sq. ft. of retail space at Gould Shopping Center, in San Jose, Calif.

The space will serve as the second location for the company, which markets affordable fitness. It is expected to open by year-end.
 

Dallas -- SRS Real Estate Partners has announced the hiring of Brian Hollenback as a VP in the Denver office. 

Hollenback has been involved in over 2,000,000 sq. ft. of ground-up retail developments and has completed over 125 pad transactions throughout the Colorado market. He also has represented numerous national and regional retail and restaurants concepts as well as a variety of shopping center owners and developers in leasing their shopping centers.
 

Hoffman Estates, Ill. -- A Friday report by Wall Street Journal said that Sears Holdings Corp. is in an active push to lease surplus space to other retailers. Its real estate division has listed on its website some 4,000 of its namesake and Kmart stores that have space for other merchants or retail operations to lease.

New York City -- Apparel designer Yigal Azrouel will open its first freestanding store, for its Cut25 lower-priced, younger collection, in the Soho South area of Manhattan.

Prudential Douglas Elliman’s Retail Group arranged a lease at 129 Grand Street, between Broadway and Crosby Street, for the new store. The opening date hasn’t yet been announced.