Real Estate

Chicago -- CBRE announced that Michael Kaider, first VP, has been named to the firm’s Net Lease Property Group.

CBRE’s Net Lease Property Group is a select team of senior level capital markets professionals that specialize in the sale, purchase and recapitalization of single-tenant, net leased properties throughout the United States.

More than 200 O’Reilly Automotive stores are expected to open in 2016 after the nation’s third largest auto parts retailer logged strong fourth quarter results and its 23rd consecutive year of same-store sales growth.

A celebrity chef is opening a 41,000-sq.-ft. food hall at Tysons Corner Center (McLean, Virginia) that will house 10 separate restaurant concepts. The move comes as more and more retail centers are turning to food as a lure to draw shoppers.

Former “Top Chef” contestant Mike Isabella will open Isabella Eatery at General Growth Properties’ Tysons Galleria in 2017. Several of the planned restaurants will share a common area with approximately 300 seats where diners will be able to order from any of the five menus.

Nordstrom revealed dramatic plans for a massive and elaborate flagship in Manhattan designed to wow residents of a city accustomed to the best retailers have to offer.

The approximately 363,000-sq.-ft. store will encompass four individual properties in the Columbus Circle neighborhood of Manhattan, along Broadway between West 57th and West 58th Streets. Slated to open in 2019, it will be the retailer’s second largest store to date (the largest, at 383,000 sq. ft., is in its Seattle hometown).

Cross Roads, Texas -- Shop Companies Investment Sales announced the sale of Crossroads Crossing a 14,680 sq. ft. shopping center located in Cross Roads, Texas.

Crossroads Crossing at the time of closing was 100% leased. The tenant mix includes: Domino’s, State Farm, January’s Salon, Cornerstone Dental and Villa Grande Mexican Restaurant among others. Just east of a newly opened Wal-Mart Supercenter.

Tractor Supply Company continues its rapid expansion, with the grand opening of its 1,500th store, on Feb. 13, in Odessa, Texas.

The retailer opened a total of 114 stores in 2015, and expects to open between 115 and 120 locations in 2016. Tractor Supply stores are located primarily in towns outlying major metropolitan markets and in rural communities.

Staples secured approval of its acquisition of Office Depot from European regulators after agreeing to numerous concessions. Now similar actions may be required if the company is to win over a stubborn U.S. Federal Trade Commission.

Staples said it received approval from the European Union to acquire Office Depot, highlighted a range of actions it took to alleviate the regulator’s competitive concerns and used the action to take a jab at the U.S. Federal Trade Commission (FTC).

So much for the argument that the U.S. market is saturated with retail stores and e-commerce is hurting mall traffic. Tanger Factory Outlet Centers brought four new properties online in 2015 and still managed to achieve a portfolio occupancy rate in excess of 95% for the 35th consecutive year.