Real Estate

Paramus, N.J. -- Tuesday Morning is set to join the tenant mix at Paramus Place in Paramus, New Jersey. The retailer has leased 15,000 sq. ft. of space at the 261,000-sq.-ft. shopping center, announced Levin Management, the property’s managing and leasing agent.

Paramus Place is anchored by Kohl’s, and also features Panera Bread, Annie Sez, Modell’s, Party City, Lane Bryant, A.C. Moore and Cuts for Kids.
 

Port Washington, N.Y. – Consumer electronics retailer Tiger Direct, a subsidiary of Systemax, has decided to focus on its online territory. Tiger Direct is shuttering 31 of its 34 U.S.-based and international stores.

Gordon Brothers Group subsidiary DJM Real Estate is handling the disposal of 27 Tiger Direct stores in the U.S. and Canada. The stores, which range in size from 14,000 to 33,400-sq.-ft, can be subleased or have their leases purchased outright.
 

Virginia Beach, Va. -- DSW Shoe Warehouse will open a new store at Pembroke Mall in Virginia Beach, Virginia. The retailer will be taking 15,040 sq. ft. of an existing Sears store.

The lease negotiations were handled on behalf of the tenant by Divaris Real Estate, Inc.

DSW will open fourth quarter 2015 and will be joined by Nordstrom Rack and REI in 2016.
 
 

New York -- Aeropostale Inc. decreased its loss in the fourth quarter, and reported its first adjusted operating profit in its last eight quarters. But the struggling teen apparel retailer said it is considering potentially closing approximately 50 to 75 Aeropostale stores and one P.S. Store in 2015.

Aeropostale's net loss narrowed to $13.5 million in the fourth quarter ended Jan. 31, down from $70.3 million a year earlier.

Net sales fell 11.3% to $593.8 million. Comparable sales declined 9%.

Denton, Texas -- Fashion-forward retailer H&M will open a new store at Golden Triangle Mall, in Denton, Texas. The 23,000-sq.-ft. location is slated to open fall 2015, bringing its Texas store count to 15.

Golden Triangle Mall has recently undergone a redevelopment, with new entrances and facades, center court, performance area and other enhancements. The 765,000-sq.-ft. enclosed mall is owned by GTM Development, a partnership between The McHerring Group and Cencor Realty Services, and is anchored by J.C. Penney, Dillards, Macy’s and Sears.

New Orleans - Magnolia Marketplace, a 106,000-sq.-ft. shopping center located in New Orleans’ Central City neighborhood, opened Friday, March 13. The project, overseen by JCH Development and Stirling Properties, was 100% pre-leased prior to the January 2014 groundbreaking.

Express is going full-steam ahead with its outlet-store strategy, with plans to open 30-plus stores in 2015. The retailer ended the year with 41 outlet stores in operation.

“Together they generated approximately $55 million of incremental revenue, far surpassing our initial estimate,” said Paul Dascoli, senior VP and CFO, Express, on the chain’s quarterly earnings call. Express is expanding its outlet store division both through new construction and conversions.

Grand Chute, Wis. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Fox River Commons located in Grand Chute, Wisconsin. The 78,977-sq.-ft. asset was purchased by Bloomfield Hills, Mich.-based Agree Realty Corporation for $12.2 million.
 
Fox River Commons is located at the northwest corner of Casaloma Drive and College Avenue in Grand Chute (Appleton MSA), and is anchored by Bed Bath & Beyond, Barnes & Noble, Old Navy and Dress Barn.