Real Estate

Plymouth Meeting, Pa. -- Fameco Management Services said that Columbia Bank in conjunction with the Superior Court of New Jersey has appointed it as Rent Receiver/Property Manager for three properties in Burlington, Edison and Kenvil, N.J.

The properties include a 15,530-sq.-ft. site located in Burlington anchored by Family Dollar, a 30,000-sq.-ft. unanchored center in Edison and a vacant 28,000-sq.-ft. freestanding building in Kenvil.

Fameco Management Services is a division of Fameco Real Estate.
 

New York City -- Centro NP Residual Holding LLC said Friday it has sold a portion of its interest in 25 shopping centers and formed a joint venture with Inland American CP Investment, LLC, a wholly owned subsidiary of Inland American Real Estate Trust.

The new joint venture has secured $310 million of term loans with J.P. Morgan and Goldman Sachs, which mature in 10 years and are secured by assets within the joint venture.

New York City -- Winick Realty Group announced that Smart Fashion, a national importer and exporter of women’s apparel, has leased its first retail location at 149B West 36th Street, between Broadway and 7th Avenue in Manhattan’s Garment District.

Smart Fashion already operates a wholesale showroom nearby at 1407 Broadway.

The 2,000-sq.-ft. store will focus on trendy junior sportswear.

Jacksonville, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Jacksonville at Johns Creek Center to Tony’s New York Style Pizza.

The local pizzeria will open a 1,600-sq.-ft. restaurant in March 2011, and brings the center to 93% leased.

The 75,100-sq.-ft. shopping center is anchored by Publix alongside Great Clips, H&R Block and Bank of America.

CINCINNATI - Macy’s, Inc. (NYSE:M - News) today announced it will build a major new fulfillment center near Martinsburg in Berkeley County, W.Va., to support the continued growth of its online business. The site is located strategically along I-81, about 80 miles northwest of Washington, D.C.

New York - Fast Retailing, Asia’s biggest clothing chain and the parent of Uniqlo, is lookjing to open at least 200 Uniqlo stores in the United States  by 2020 as it seeks to raise sales sixfold in a decade, according to a Bloomberg report. 

"The United States is one of the most important markets for us,” Shin Odake, CEO of Uniqlo’s U.S. unit, said in an interview with Bloomberg Television. 

Cincinnati - Macy’s announced it plans to build a major new fulfillment center near Martinsburg in Berkeley County, W.V., to support the continued growth of its online business. The site is located about 80 miles northwest of Washington, D.C. 

Construction on the 1.3 million-square-foot facility is expected to begin in spring 2011, with operations beginning in April 2012 and order shipments beginning in summer 2012. 

Bentonville, Ark. - Wal-Mart Stores Inc. is closing its Moscow office but said it is still interested in the Russian market.

The retailer said Monday that it has been looking to enter the Russian market through an acquisition, but has not found a near-term opportunity so it does not need the Moscow office at this time.

FRAMINGHAM, Mass. - TJX Companies announced that it will consolidate its A.J. Wright division by converting 91 A.J. Wright stores into T.J. Maxx, Marshalls or HomeGoods stores and by closing the remaining 71 stores, A.J. Wright’s two distribution centers and its home office. This action is expected to improve the overall profitability of the company, and will allow TJX to focus its managerial and financial resources on its larger, more profitable businesses, all of which have major growth potential, as well as to serve the A.J.

NEW YORK - Gracious Home, a home goods retailer with stores in New York City's Upper West and Upper East side neighborhoods, as well as online at gracioushome.com, was acquired by Americas Retail Flagship Fund LLC. The company under its prior ownership had filed for bankruptcy protection in August.