Real Estate

Thor Equities acquires property on Avenue Des Champs-Elysees
New York -- Thor Equities has signed a contract to acquire a prime retail and office property at 102 Avenue des Champs-Elysees in Paris. “102 Avenue des Champs-Elysees is at the center of one of the most desirable locations in the world, just blocks from the Arc de Triomphe and Place Charles de Gaulle,” said Joseph Sitt, CEO of Thor Equities. “We continue to believe strongly in the Paris retail market, in particular prime shopping and tourist destinations such as the Champs-Elysees and Boulevard Haussmann.”
JLL expands Gulf Coast platform with retail and office expertise
Mobile, Ala. -- JLL announced the expansion of its platform in Alabama with the addition of Shannon Tyndall and Allen Garstecki. Tyndall and Garstecki join JLL as VPs, and bring more than 20 years of combined experience to the firm. They will be based in the firm’s Mobile office, bolstering the existing practice that JLL built last year when it added Gulf Coast Retail Brokerage lead Josh Burmeister and VP Buff Teague.

The team provides retail and office expertise throughout Alabama, Mississippi, Louisiana and the Florida Panhandle.

Risk-Averse Strip Mall Landlords Seek 'Internet-Proof' Renters in Smaller Spaces

By Neil Axler

“You can’t get your nails done online, you can’t get dry cleaning done online and you can’t eat the Internet.” These are the dominant themes from retail clients (property owners) over the last few years. Today’s shopping center acquirers are looking for “necessity centers” with a stable rent roll. These centers consist of restaurants, nail salons and other destination retail that is not competing with e-commerce.
American Eagle takes flight in South America

Specialty apparel retailer American Eagle had a solid fourth quarter and now is eyeing growth opportunities far from its home market by teaming up with leading South American retail conglomerate Cencosud.
Ikea to open its largest U.S. store, in Burbank, California

New York -- Ikea will open its largest U.S. store on a 22-acre site in Burbank, California. As the first step in the construction process, the retailer must demolish 19 existing structures on the site. The new 456,000-sq.-ft. store is slated to open in spring 2017.

Reflecting the company’s commitment to sustainability, Ikea plans to recycle, repurpose or salvage as much of the existing buildings’ equipment, materials, and parts as possible.
Retail Rap: Shacking Up

The end of a retail icon is always big news in commercial real estate, and it’s particularly relevant when the brand in question is closing more than 4,000 stores around the country.
Fresh & Easy to close 55 stores

Fresh & Easy plans to close 55 stores, which would leave the chain with about 110 locations, the Orange Country Register<span style="color: rgb(54, 54, 54); font-
Largest IKEA ever planned for Burbank

IKEA plans to open a store of truly epic proportions on a 22 acre site in Burbank, Calif., that will require the home furnishing retailer first demolish 19 existing structures.
Fresh & Easy to close 55 stores as it transitions to new convenience model

New York -- Fresh & Easy plans to close 55 stores, which would leave the chain with about 110 locations, the Orange Country Register reported. Fresh & Easy is owned by the Yucaipa Cos., which bought the supermarket chain out of bankruptcy in 2013 from U.K. retailer Tesco. It operates stores in Nevada, California and Arizona.

The stores slated for closing do not meet Fresh & Easy’s new model of “modern convenience.”
The Melting Pot goes global with Indonesia location

Tampa, Fla. – The Melting Pot Restaurants Inc. has opened its first restaurant outside of North America in Jakarta, Indonesia. The latest opening comes on the heels of the company announcing its plans for continued international expansion.

The Melting Pot is on track to open its first restaurants in Dubai, United Arab Emirates and Riyadh, Saudi Arabia later in 2015, as well as its fourth location in Mexico City, Mexico.
McAlister’s Deli sees rising Phoenix franchise opportunity

Alpharetta, Ga. - McAlister's Deli is targeting Phoenix for franchise growth. The fast-casual dining chain is seeking experienced multi-unit restaurant operators to help expand McAlister's presence in the market through multi-unit development agreements in areas such as Mesa, Tempe, Chandler, Gilbert, Glendale and Goodyear.
Pirch enters the Northeast, opens 20,000-sq.-ft. store at Garden State Plaza

New York -- High-end home appliances and outfitting retailer Pirch will open its first store in the Northeast, at Garden State Plaza in Paramus, New Jersey, on March 28.

The 20,000-sq.-ft. store, the company’s eighth to date, allows shoppers to "test-drive" a carefully-curated collection of premier kitchen, bath, laundry, and outdoor living brands in a highly interactive and sensory environment.