Real Estate

Sidney, Neb. -- Cabela’s Inc. on Tuesday announced plans for two new stores, one in Greenville, S.C., and the other in Woodbury, Minn.

Cabela’s expects to open the Greenville store – its first South Carolina location – in spring 2014. The 100,000-sq.-ft. store will be located in Magnolia Park, a newly redeveloped shopping center.

Toronto -- Vitapath, a subsidiary of U.S.-based Vitamin Shoppe, has opened its first two Canadian stores in the greater Toronto area in Newmarket and Leaside. The company expects to expand its retail stores under the Vitapath banner across Canada, with additional locations expected to open later in 2013.

Minneapolis -- Target announced plans to open a store in Huntington, N.Y. in October.

To date, Target has announced plans to open 17 Target stores in 2013.

Levi’s latest New York City location, in SoHo, has a rustic feel, enhanced by the use of wood and other materials. Designed by MBH Architects, the 12,683-sq. ft. store features tent-like dressing rooms and lighting fixtures made of rope. The "fit bar" is a table made of natural wood logs.

Farmington Hills, Mich. -- Agree Realty Corp. said Thursday it acquired a portfolio of four Applebee's restaurants, as well as an Advance Auto Parts in late December 2012 for about $10 million.

These latest acquisitions bring Agree’s 2012 total purchase activity to approximately $81.5 million.

The recently acquired Applebee's assets are located in Harlingen, Texas, and Wichita Falls, Texas, as well as two properties in Pensacola, Fla. The Advance Auto Parts is located on an outlot to a Walmart Supercenter in Lebanon, Va.

Minneapolis -- Supervalu Inc. announced Thursday that it has reached a deal to sell its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies to a private equity group in a transaction valued at $3.3 billion.

AB Acquisition, a consortium of investors led by Cerberus Capital Management, will get 877 stores across the various banners in the deal. The investor group also includes Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners and Schottenstein Real Estate Group.

Los Angeles -- CBRE Group reported Thursday that, despite sluggish economic growth, the U.S. commercial real estate market remained on a recovery path in fourth quarter 2012.

The retail availability rate declined slightly to 12.8%, down 10 bps compared with the previous quarter.

“The broken record of slow but positive progress toward a real estate recovery continues to repeat,” said Jon Southard, managing director of CBRE’s Econometric Advisors Group.

Philadelphia and New York -- Law firm Duane Morris announced that it has named partners Chester Lee in New York and George Kroculick in Philadelphia as co-chairs of its firmwide Real Estate Practice Group.

Lee and Kroculick succeed partner Marc Brookman in heading the practice.

Lee and Kroculick will take over a national practice involving more than 90 lawyers with broad experience in real estate and development matters.