Real Estate

Carlisle, Pa. -- Ahold subsidiary Giant Food said it has commenced its conversion of 15 former Genuardi's stores. The announcement follows FTC approval of Giant Food’s plan to acquire 15 Genuardi's stores, located in the greater Philadelphia area, from Safeway.

During the conversion process, five stores at a time will temporarily close for about a week. The three-phase staggered approach is expected to be completed on July 22.

Dallas -- X Team International said that Dallas-Fort Worth-based partner Venture Commercial has completed leases for Northern Tool + Equipment locations in Nebraska, Texas and Georgia. Houston-based X Team partner Baker Katz assisted with the Texas lease.

Northern Tool + Equipment has filled a 15,142-sq.-ft. box in Omaha, Neb., located in 72 Pacific Plaza; a 15,142-sq.-ft. box in Conroe, Texas, located in the Pine Hollow Shopping Center; and a 15,585-sq.-ft. box in Buford, Ga., located in Lee’s Crossing Center.
 

Philadelphia -- Fameco Real Estate said that its Center City leasing team has signed seven new retail leases in Philadelphia.

On Walnut Street, Chipotle leased 2,300 sq. ft., Swarovski leased 1,800 sq. ft., and Urban Igloo entered the market with its first lease.   

Aliso Viejo, Calif. -- Johnny Rockets said Tuesday it has finalized a franchise agreement with restaurant entrepreneur Antonio Augusto Ribeiro de Souza to open 30 restaurants in Brazil. 

This news follows recent announcements of the chain's new franchise agreements in Peru and Ecuador, as well as the opening of its second restaurant in Chile and its first in the Dominican Republic.

Miami -- Swire Properties announced it has broken ground on its Brickell CitiCentre project, a $1.05 billion mixed-use development that is billed as the largest private sector venture of its kind in Miami history.

Vineland, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that Body Central has opened a 4,256-sq.-ft. store at Cumberland Mall, in Vineland, N.J.

Justice also recently opened at Cumberland Mall, which is anchored by Boscov’s, Marshalls, J.C. Penney, Burlington Coat Factory, Michaels, Old Navy and Bed Bath & Beyond.

 

Westbrook, Maine -- Olympia Sports announced it has recently surpassed its 200th location and has begun a march south and west from its home state of Maine.

The company plans to open 25 stores during its current fiscal year, including its first store in West Virginia and others in states south of New York. A similar pace of expansion is expected for the following fiscal year beginning in October, said Olympia.

Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that The North Face will open its first New Jersey location at Cherry Hill Mall this fall.

The opening of the 6,500-sq.-ft. store will coincide with openings from Henri Bendel, Grand Lux Café, Essensuals London and Pottery Barn.

Cherry Hill Mall is anchored by Nordstrom, Macy’s and J.C. Penney.