Real Estate

Originally purchased by Paster Enterprises in 1985, Mendota Plaza in Mendota Heights, Minn., underwent a minor facelift in 1989. In 2005, it became evident that the 60,000-sq.-ft. community shopping center needed a significant revitalization, and so the planning began. While developing the plans for the new and improved Mendota Plaza, Paster Enterprises worked tirelessly to acquire the adjacent eight acres of land. Along with several smaller parcels, the land was acquired, bringing the full parcel to 21.2 acres.

New York City -- Retailer demand for new locations is up across the board, according to ChainLinks Retail Advisors’ just-released National Retailer and Restaurant Expansion Guide. The report details the current expansion plans for hundreds of the largest U.S. retail and restaurant chains.

Watchung, N.J. -- RAS Brokerage announced that it has secured a lease for Buffalo Wild Wings at BJ’s Shopping Center, located in Watchung, N.J.

Buffalo Wild Wings has signed a lease for a 5,856-sq.-ft. end-cap at the Vornado Realty Trust-owned center.

AMPAL Restaurant group d.b.a. Buffalo Wild Wings opened its first unit at the Monmouth Mall in 2010. The Watchung store will be its second and will open on March 7. 

RAS Brokerage is the restaurant division of Plymouth Meeting, Pa.-based Fameco Real Estate, LP.

Atlanta -- Columbia, S.C.-based Edens & Avant said that Seed Kitchen & Bar will open at its Merchant’s Walk retail redevelopment, located in the East Cobb area of Atlanta.

New York City -- Forest City Enterprises announced Tuesday that, as part of the company’s succession planning process, current president and CEO Charles A. Ratner will become chairman of the board, and will be succeeded as president and CEO by David J. LaRue, currently executive VP and COO.

The changes will be effective following Forest City's annual meeting of shareholders on June 10.

If Black Friday and Cyber Monday 2010 numbers were any indication, retail may well be prepping for some measurable bounce in 2011.

But the road to recovery isn’t going to be without frustrations, according to Chicago-based Jones Lang LaSalle’s North America Retail Outlook report, released in November.

The inaugural report examined retail real estate fundamentals such as vacancy levels, rental rates and investment sales volumes -- and drew the conclusion that 2011 would see a “slow and arduous retail sector recovery.”

Boca Raton, Fla. -- Woolbright Development announced that it has appointed Geoff Higginbotham as director of accounting.

Higginbotham is responsible for the monthly, quarterly and annual financial reporting for the company’s wholly owned assets and partnerships. He was previously corporate controller for Turnberry Associates in Aventura, Fla.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Elevation Burger has opened a 2,245-sq.-ft. restaurant at Moorestown Mall, located in Moorestown, N.J.

The casual eatery is located next to Bistro Express, with both a mall entrance and an outside entrance, and is a market first for the concept.

Another new concept to South Jersey also recently opened at Moorestown Mall -- Bubby’s Brisket. The 1,017-sq.-ft. restaurant is located in Moorestown Mall’s Food Court.