Real Estate

West Palm Beach, Fla. -- Boca Raton, Fla.-based Woolbright Development announced that it has acquired Village Commons shopping center, located in West Palm Beach, Fla. 

Woolbright will oversee the center’s leasing, property management, construction management, marketing and promotions.

Irvine, Calif. -- KTGY Group, Architecture and Planning, said that Diane's Beachwear will be opening its newest store in Scottsdale, Ariz., at the Scottsdale Quarter in early March.

The new 1,200-sq.-ft. flagship store represents the 19-store chain's debut outside of California. KTGY is the architect for the new Diane's Beachwear store.   Skyline Development and Construction of Norco, Calif., is the general contractor.

Atlanta -- Columbia, S.C.-based Edens & Avant announced that Ulta, along with additional retailers and restaurants, will open at its Merchant’s Walk open-air center in the East Cobb area of Atlanta.

Rowland Heights, Calif. -- Shoe City has opened a 7,680-sq.-ft. store at Puente Hills Town Center, located in Rowland Heights, Calif.

The shopping center is owned by Centro Properties Group, based in New York City.

Dallas -- X Team International, an international alliance of retail real estate advisors, said Tuesday that Venture Commercial, through its Venturetainment division, assisted with site-selection efforts and completed two leases for global visitor attraction operator Merlin Entertainments Group to bring two of its iconic attraction brands to the Texas market for the first time.

Ann Arbor, Mich. -- Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Last week, the company received a commitment for $550 million in financing from General Electric Capital, subject to conditions that include securing $175 million from other lenders and continuing to close stores.

New York City -- Robert K. Futterman & Associates said Monday that it has secured a long-term lease for Gap 1969 at 513 Broadway, between Spring and Broome Streets in SoHo, for the brand’s first permanent location in New York City for the concept store.  

Gap 1969 is currently operating in a temporary space at 524 Broadway.  Scheduled to open in early spring 2011, the new apparel store will occupy 2,800 sq. ft. of ground-floor selling space, and 3,000 sq. ft. in the basement and 3,000 sq. ft. in the sub-basement.    

Ann Arbor, Mich. -- Borders Group said it has received a commitment from GE Capital, Restructuring Finance to provide a $550 million senior secured credit facility. Upon completion, the facility, including the obtaining of $125 million of additional junior debt financing via the conversion of vendor payables and/or external sources, will provide Borders with the financial flexibility and an appropriate level of liquidity to move forward with its strategy to reposition its business model and the Borders brand.