Real Estate

Boston -- Cushman & Wakefield announced the sale of South Cape Village in Mashpee, Massachusetts, to Dividend Capital. The Cushman & Wakefield team oversaw the $35.45 million transaction of the Roche Brothers-anchored lifestyle center on behalf of Mashpee Investors, LLC.    

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.

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.

Las Vegas -- Kleinfeld Hudson’s Bay, a glamorous bridal shop on the top floor of the Hudson’s Bay’s flagship and headquarters building in Toronto,  took the big prize — Store of the Year — in the Association for Retail Environments 2015 Design Awards. The annual awards recognize the best in retail design, store fixtures and visual presentation.
 

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.

Staten Island Mall announced that the 1.2-million-sq.-ft. property will undergo a much anticipated multi-million dollar redevelopment that will add interior and exterior upgrades, new fashion retailers, restaurants, a Fairway Market and public piazza for guests to gather and enjoy events year-round, including a farmers market, holiday festivities, fashion shows and community fundraisers.

Enhancements also include the ability for Macy’s to expand.

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.”
 

Philadelphia -- Five Below Inc. on Wednesday reported better-than-expected fiscal fourth-quarter net income of $33.3 million. It also confirmed plans to open 70 stores in 2015, up from 62 in 2014.

Net sales in the quarter, ended Jan. 31, increased by 24.4% to $263.8 million from $212.0 million the year-ago period. Same-store sales increased by 3.2%. The results exceeded Wall Street expectations.

For the year, the company reported profit of $48 million. Revenue was reported as $680.2 million.