Real Estate

Houston -- The Vista Cos. and Vista Spring Green, Ltd. announced that McDonald's USA has signed a 56,000-sq.-ft. ground lease at The Plazas at Spring Green.

Construction on a new 4,800-sq.-ft. McDonald’s restaurant will begin in the coming weeks and is set to open in November.

The Plazas at Spring Green, a Vista Equities Group development, is located in Katy, Texas.

Brooksville, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space to two new tenants in Brooksville, Fla., at Suncoast Crossing.

Sprint has leased 1,750 sq. ft., and Gia’s Cakes & Goodies has leased 1,400 sq. ft.

Both are slated to open this summer.

The 260,000-sq.-ft. shopping center is anchored by a 142,000-sq.-ft. Target and a 98,000-sq.-ft. Kohl’s alongside national retailers such as Supercuts and McDonald’s.
 

Newport Beach, Calif. -- Grubb & Ellis Co. said that Cole Real Estate Investments has selected members of the company’s Retail Group to lease Whittwood Town Center, a 686,211-sq.-ft. shopping center in Whittier, Calif.

Whittwood Town Center is approximately 97% leased, with national tenants including J.C. Penney, Target, Vons, Kohl’s, PetSmart, 24 Hour Fitness and Panera Bread.

MENOMONEE FALLS, Wis. — Kohl’s reported that its first quarter diluted earnings per share increased 14% to 73 cents, in line with Citi and Stifel analysts expectations and with the company's updated guidance that EPS would be toward the high-end of 68 cents to 73 cents (provided on May 5). Net income for the quarter was $211 million, compared with $199 million (64 cents per diluted share) a year ago. Net sales were $4.2 billion, an increase of 3.1% for the quarter. Comparable-store sales for the quarter increased 1.3%.

WAYNE, N.J. — Toys"R"Us is installing the largest rooftop solar power installation in North America at its distribution center in Flanders, N.J. Staging for the system is currently underway and construction will conclude this summer. Upon completion, the 5.38 megawatt on-site solar array will occupy 869,294 sq. ft. It is estimated to generate 72% of the electrical needs for the Toys"R"Us facility, which is the largest of the chain’s 10 DCs and covers over 1.5 million sq. ft., in addition to the roof, which spans 32 acres.

New York City -- Kohl’s Corp. is looking to focus on smaller stores as it continues to expand across the country, chairman and CEO Kevin Mansell said in remarks following the company's annual meeting Thursday, according to The Business Journal.

The chain expects to open about 40 stores this year, and 30 of them will be smaller models. Kohl’s smaller footprint generally averages about 60,000 sq. ft. as compared with 90,000 sq. ft. for a typical store, the report said.

New York City -- All Saints, the U.K. fashion retailer known for its dark interiors and edgy threads, has been bought by British investment firm Lion Capital and U.S. private equity firm Goode Partners, Britain’s The Telegraph reported. The purchase is likely to speed the chain’s expansion in the United States.

New York City -- Victoria’s Secret will begins construction on a multi- million dollar renovation of its store in Miracle Mile Shops at Planet Hollywood Resort & Casino in Las Vegas in late May.

Construction will take approximately three-months to complete. The newly renovated 7,722-sq.-ft. store will serve as a prototype for Victoria’s Secret, featuring various design elements not found at any of its other Las Vegas locations. 

New York City -- Britain’s trendy fashion brand Superdry plans to open three stores in the United States by July.

New stores are slated to open at Valley Fair, Santa Clara, Calif., in late May; at the South Street Seaport in Manhattan in June; and at Mall of America, in Bloomington, Minn., in July.

The company, which hopes to open 10 to 12 stores a year over the next four years, would like to open additional stores in the Los Angeles, Boston, Chicago and Miami markets, according to Women’s Wear’s Daily.

Plymouth Meeting, Pa. -- Fameco Real Estate is opening an office in Center City, Philadelphia, to better accommodate the growth of its clientele in the market.

Fameco will be fully operational in the center city office at 1425 Walnut Street in early June. Fameco partners Jeffrey Cohen, Brandon Famous and Rick Schuch will spearhead this new initiative.