Real Estate

Dallas -- The Retail Connection and North American Development Group announced the purchase of Towne Centre Plaza, a 94,109-sq.-ft. property located across from Town East Mall in Mesquite, Texas. 

The shopping center was built in 2002 on 8.8 acres and features Bed Bath & Beyond and Best Buy as tenants. The Retail Connection is currently in negotiations for the 23,000-sq.-ft. vacancy in the center with a national tenant, which, when leased will bring the center back to 100% occupancy.

San Diego -- Marcus & Millichap Real Estate Investment Services said it has named Phil Sambazis senior director of the firm’s National Retail Group in San Diego. Sambazis joined Marcus & Millichap in March 2006 and specializes in the acquisition and disposition of retail shopping centers and net-leased investments.

Marcus & Millichap has also named Kevin W. Boeve senior director of the firm’s National Retail Group in Ontario. Boeve joined Marcus & Millichap in June 1999.

Louis Vuitton Island Maison, part of the Marina Bay Sands resort complex in Singapore, represents the ultimate in luxury retail destinations. The striking crystal and glass structure, which sits directly on the water, was awarded top honors in the Association for Retail Environments’ (A.R.E.) design competition. It features the entire the complete Louis Vuitton offering, from its men's and women's collections to jewelry and accessories. It also houses a bookstore with a curated selection of books on travel, design, art and culture.

Bensalem, Pa. -- Charming Shoppes Inc. recorded a wider-than-expected loss for its fourth quarter as higher product costs and discounts at its Lane Bryant division cut into margins. The chain said plans to close between 90 to 105 underperforming stores this year.

Charming Shoppes, which hired Barclays Capital in December to help it review its options, posted a loss of $13.2 million for the three months ended January 28, 2012, compared with a loss of $30.4 million a year ago.

Dallas -- SRS Real Estate Partners announced three new hires in brokerage, marketing and research.

Scott Poehler, Alexandra Hilker and Kyle West have joined the SRS teams in Newport Beach, Calif.; Denver, and Orlando, Fla.

Scott Poehler has joined SRS as an associate in the Newport Beach office, coming to SRS from Keller Williams Realty.

North Plainfield, N.J. -- Levin Management announced that it has named Joe Lowry as director of acquisitions and business development for the company.

The 25-year commercial real estate industry veteran joined Levin in 2009 as director of acquisitions. His added responsibilities reflect the firm’s ongoing focus on adding new clients from among institutions, fund managers and private owners it does not already serve.

Honolulu -- Columbus, Ohio-based Glimcher Realty Trust announced plans to acquire 80% indirect ownership interest in Pearlridge Center, located in Honolulu, for about $290 million from partner Blackstone Real Estate Partners.

“With sales of nearly $500 per square foot and a dynamic growth profile, this strategic investment is consistent with our goal of enhancing the quality of our real estate portfolio,” said Michael Glimcher, chairman and CEO, Glimcher.

Costa Mesa, Calif. -- ChrisAnn and Roger Richards announced the opening of their second wine and cheese bar and shop, Wine Lab at The Camp, located in the restaurant and shopping destination at 2937 Bristol Street in Costa Mesa, Calif.

The 1,270 sq.-ft. bar, designed with a mid-century flair, augments the debut location in Newport, Calif., and features wines and beer on tap as well as a retail shop.