Real Estate

Santa Monica, Calif. -- The Macerich Co. announced on Monday plans to acquire Kings Plaza, located in Brooklyn, N.Y., and Green Acres Mall, located in Valley Stream, N.Y., on the border of New York City and Nassau County. 

Kings Plaza is being acquired from a subsidiary of Alexander's for $751 million, with a closing date set for late 2012. Green Acres is being acquired from a subsidiary of Vornado Realty Trust for $500 million, with a first quarter 2013 closing date.

Sarasota, Fla. – Bloomfield Hills, Mich.-based Taubman Centers and Sarasota, Fla.-based Benderson Development Co. announced the ground breaking on a $315-million, 880,000-sq.-ft. shopping center in Sarasota, Fla.

The Mall at University Town Center will be a two-level enclosed mall anchored by Saks Fifth Avenue, Dillard’s and Macy’s, and featuring more than 100 specialty stores and restaurants.

The Mall at University Town Center is scheduled to open in Oct. 2014.

Bossier City, La. -- Covington, La.-based Stirling Properties announced the opening of a new 7,918-sq.-ft. Santa Fe Cattle Co. restaurant at its Stirling Bossier Shopping Center property, located on Airline Drive in Bossier City.

Headquartered in Baton Rouge, La., Santa Fe Cattle Co. operates 19 locations in six states, including four in Louisiana.

Miami Beach, Fla.-based Savitar Realty Advisors has nearly completed its transformation of the legendary Lincoln Theatre in the heart of South Beach from a historic movie theater and symphony hall into a 35,000-sq.-ft. mixed-use building located on the pedestrian promenade known as the Lincoln Road Mall.

The modern retail establishment scheduled to open in November will house H&M’s 30,000-sq.-ft. flagship store as well as a number of other smaller tenants including Swatch, Sabon, 4D Gelato and 100 Montaditos, a Spanish tapas and sandwich style restaurant.

Kokomo, Ind. -- Indianapolis-based Kite Realty Group said that Kirkland’s will open a 6,400-sq.-ft. store at Boulevard Crossing, located in Kokomo, Ind.

The 213,663-sq.-ft. shopping center is owned by Kite Kokomo Project Co. and is anchored by Kohl’s, Party City, Ulta, TJ Maxx, Petco, Shoe Carnival and Dress Barn.

Plymouth Meeting, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that American Eagle Outfitters plans to open a 5,732-sq.-ft. store at its Plymouth Meeting Mall property in spring 2013.

In addition, Mercy Health System, a consumer health and wellness satellite aligned with Mercy Suburban Hospital, recently opened, expanding the mall’s variety of services into the health sector.

Plymouth Meeting Mall is anchored by Macy’s, Boscov’s and Whole Foods Market and Café.

Hollywood, Calif. – Four new tenants have opened at Hollywood & Highland Center – the retail, dining and entertainment venue located on Hollywood’s Walk of Fame. Mr. Koji’s, GNC, Sweet! Hollywood candy store and Kitson fashion boutique have all recently opened and will be joined by another group of impending openings.

Chilli Beans, a Brazilian sunglasses retailer, is slated to open on Oct. 31; L'Occitane will open on Nov. 1; Zinzi jewelry will open Dec. 1; and Cho Oishi will open its Japanese restaurant in Feb. 2013.

Tustin, Calif. -- Present Value Properties said it has negotiated a 10-year, 24,160-sq.-ft. lease for HomeGoods at the Sher Lane Shops, a 45,000-sq.-ft. community center in Huntington Beach, Calif.

TJX Cos.-owned HomeGoods, which joins Men’s Wearhouse, Stone Hedge Tiles and Vitamin Shoppe, is expected to open in spring 2013 in a former Office Depot space.