Real Estate

Ramsey, N.J. -- Welco Realty, an X Team partner, announced that it has signed a lease with Modell’s Sporting Goods for its new smaller-concept store, the retailer’s first in New Jersey.

The store is approximately 8,551 sq. ft., about half its standard size. Modell’s first small-format store opened on Amsterdam Avenue in Manhattan.
 

Paramus, N.J. -- New Rochelle, N.Y.-based Welco Realty, an X Team partner, announced that it has signed a lease representing Jo-Ann Fabric and Craft for 30,000 sq. ft. for a flagship store in the former Comp USA space in Paramus, N.J.

This store will be one of the largest format stores for Jo-Ann Fabric and Craft Stores, its first store in the Paramus market. 
 

Union, N.J. -- A Seabra Foods and Koki Japanese Buffet opened at Galloping Hill Center in Union, N.J., according to Plainfield, N.J.-based Levin Management Corp., the property’s exclusive leasing and managing agent.

A Seabra Foods is a full-service grocer and will open a 30,861-sq. ft. space formerly housed by another supermarket tenant.

Koki Japanese Buffet leased 5,500 sq. ft., joining other retailers and services including Mandee, Memory Lane Hallmark, Citibank, Weight Watchers, Radio Shack and Manhattan Bagel.

Westchester, Ill. -- Tri-Land Properties announced that Dr. Holly Xu, Fashionista Exchange, Jimmy John’s, Lee Lee Nails, Party Time Liquor and Pride Cleaners have joined the company’s projects throughout Indiana and Kansas City.

Lee Lee Nails opened a 1,200-sq.-ft. salon at Century Plaza, a 300,592-sq.-ft. community center in Merrillville, Ind.

Houston -- Los Angeles-based Sundance Cinemas, Baltimore-based The Cordish Cos. and the City of Houston announced that a lease has been signed for the former Angelika center space at Bayou Place in the theatre district of Downtown Houston.

Sundance said it expects the extensive refurbishment work to begin immediately on the eight-screen complex with the target of a Nov. 1 opening.

Deerfield, Ill. -- Walgreens said Tuesday that sales for the month of March rose 7.6% to $6.28 billion, compared with $5.83 billion in the year-ago period.

Duane Reade stores, acquired in April 2010, contributed 2.8% to the total sales increase for the month.

Same-store sales rose 3% in March, not including Duane Reade stores. Results topped Wall Street expectations.

Walgreens opened 12 stores during March, including three relocations, acquired one store and closed two.

Wheaton, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that Yoga By Degrees and Smashburger recently signed leases at Rice Lake Square in Wheaton, Ill., a western suburb of Chicago.

The independently owned yoga studio is slated to open this spring in 4,598 sq. ft. of space. Denver-based Smashburger, a privately held gourmet burger chain, leased 2,200 sq. ft. of space, with plans to open this summer.

Rice Lake Square is a 251,313-sq.-ft. shopping center anchored by Whole Foods, Stein Mart, Borders and PetSmart.

New York City -- Blockbuster's bankruptcy auction is set to stretch into a second day on Tuesday after preliminary talks between bidders and the chain's representatives dragged on late into Monday, a company spokesman said.

Blockbuster did not say how many bidders it attracted, but halls outside the auction room in Manhattan bankruptcy court were packed with attorneys and investment bankers refining their bids throughout Monday, Reuters reported.