Real Estate

Brussels, Belgium -- Belgian supermarket retailer Delhaize Group said Wednesday that it has completed the previously announced acquisition of Serbian retailer Delta Maxi.

Combined with its existing operations in Greece and Romania, Delhaize is now, with this transaction, considered a leading retail force in Southeastern Europe.

In the July 14 edition of SiteTalk, we asked you what you thought of
Best Buy's announcement that it would shore up its store size by
subleasing space to other retailers.  This is what one reader had to
say.

"Best Buy, in my opinion, is making the same smart move many other
retailers have made. They are trying to get it "right"!"

-- Patty Ernst
CASCO Architectural Engineering
St. Louis
 

Youngstown, Ohio -- Shopping center owner Cafaro Co. said Wednesday that Books-A-Million will fill vacant and soon-to-be vacant spaces in a lineup of its malls around the country.

Beginning in August, new Books-A-Million stores will open at Spotsylvania Towne Centre, Fredericksburg, Va.; Millcreek Mall, Erie, Pa.; and Meadowbrook Mall, Bridgeport, W.V.

Oak Brook, Ill. -- Inland Western Retail Real Estate Trust Inc. said Wednesday that Inland Western MDS Portfolio LLC, one of its wholly owned subsidiaries, has signed three leases with Hobby Lobby to occupy 227,450 sq. ft. of former Mervyn’s locations in California.

The three new stores, firsts to their respective markets, include a 76,211-sq.-ft. location in Temecula, a 76,248-sq.-ft. location in Roseville and a 74,991-sq.-ft. location in Rancho Cucamonga.

The stores are projected to open this fall.

New York City -- Robert K. Futterman & Associates said Tuesday it has arranged a long-term, 1,140-sq.-ft. lease for fine leather luggage and handbag retailer Ghurka at 781 Fifth Ave., located at 59th Street in the Plaza District. 

The new Ghurka flagship, which will augment an existing location at The Plaza Retail Collection, will occupy 915 sq. ft. on the ground floor and 225 sq. ft. in the basement at its new Fifth Avenue space. 

San Mateo, Calif. -- Hillsdale Shopping Center, located in San Mateo, Calif., is currently undergoing an extensive 80,000-sq.-ft. renovation to an area previously occupied by Mervyn’s.

The transformation will feature San Mateo County’s first Cheesecake Factory, a two-story Forever 21, and H&M as anchors of the center’s south end.

New Lenox, Ill. -- Urban Retail Properties, LLC, Center Creek Development, LLC and Mansur & Co. announced Wednesday a joint venture to build, lease and manage Spring Creek Outlets of Chicago, located in New Lenox, Ill.

Newtown, Conn. -- Westport, Conn.-based Charter Realty & Development Corp. announced that it has been named the exclusive leasing representative for Plaza South, located in Newtown, Conn.

The plaza is currently fully occupied, and Charter Realty will be responsible for leasing a new 22,500-sq.-ft. building coming on line at the end of August.

Current tenants include The Meat House, Union Savings Bank, The Learning Experience and Cork’n Barrel.

Gaylord, Mich. -- Birmingham, Mich.-based commercial real estate development firm Robert B. Aikens & Associates LLC announced Wednesday that it has acquired the Pine Ridge Square center, located in Gaylord, Mich.

At 189,000 sq. ft., Pine Ridge Square is home to Big Lots, Dunham’s, Bath & Body Works, GNC and Payless Shoe Source. The center currently has 30,000 sq. ft. available for lease.
 

BIRMINGHAM, Ala. — Books-A-Million's efforts to secure the inventory, fixtures, equipment and leasehold interests for 30 Borders stores ended unsuccessfully because the company could not agree with Borders on terms and the going out of business sales at these locations commenced, the company announced Monday.