Real Estate

Jacksonville, Fla. -- Regency Centers announced it has closed on the acquisition of its first New York property, the 141,382-sq.-ft. Lake Grove Commons, for $72.5 million with its co-investment partner First Washington Realty.

Located on Long Island, Lake Grove Commons is a Class A property anchored by the only Whole Foods Market in Suffolk County along with LA Fitness and Petco. Built in 2008, the center is fully leased to six national tenants.

London -- A report released Tuesday by Bloomberg said that U.K. clothing chain Bonmarche will close as many as 160 out of 390 stores after its owner Peacock Group sold the chain to an affiliate of Sun European Partners.

KPMG administrated the transaction; the new buyer said that about 2,400 of 3,800 jobs will be retained.

The report said that KPMG had been seeking a buyer for Bonmarche since being appointed earlier this month as administrator to Peacock, which also owns Peacock’s Stores Ltd., a U.K. discount apparel chain.

Menomonee Falls, Wis. -- Kohl’s Department Stores said Tuesday it will build a new e-commerce distribution center in DeSoto, Texas, outside Dallas.

The 951,000-sq.-ft. DC, which is slated to open in summer 2012, will fulfill Kohls.com purchases. Kohl’s said it will close on the agreement once the building process is complete.

Madison, Miss. -- Chattanooga, Tenn.-based CBL & Associates Properties announced that Michaels would join the second phase of The Forum at Grandview, a community center in Madison, Miss.

Construction for the 83,000-sq.-ft. second phase is currently underway. In addition to Michaels, anchors will include Ulta, Homegoods, and Petco as well as 14,000 sq. ft. of specialty stores. The opening of phase II is scheduled for summer 2012.

Woodmere, Ohio -- Urban Outfitters’ concept Free People, as well as men’s shoe retailer Allen Edmonds, will make their debut to the Northeast Ohio market when they open their doors at Eton Chagrin Boulevard.

The Eton location is Free People’s first Ohio boutique while the only other Allen Edmonds stand-alone store in the state is an outlet store in Jefferson, Ohio.

Carmel, Ind. -- Indianapolis-based Kite Realty Group said that two new tenants will open at Hamilton Crossing Centre, located in Carmel, Ind.

Sport Clips has leased 1,293 sq. ft. and Evita Salon & Spa has leased 1,956 sq. ft.

Hamilton Crossing has a total GLA of 39,072 sq. ft. on 12.64 acres.
 

New York City -- Family Dollar plans to continue aggressive growth in the current fiscal year, with 450 to 500 new stores on tap, CEO Howard Levine said at the company's annual shareholder meeting Thursday, The Charlotte Observer reported.

The discounter also plans to open its 11th distribution center this year, to serve its stores in California where it has started expanding, the report said.

Levine said Family Dollar will continue its store renovation program, making over another 1,000 locations.

Jacksonville, Fla. -- Regency Centers Corp. announced changes in its executive management team. Bruce Johnson, executive VP and CFO has announced that he will retire at the end of 2012. Effective with his retirement, Lisa Palmer, senior VP of capital markets, will succeed him as CFO.