Real Estate

Pleasant Prairie, Wis. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Plaza at Prairie Ridge located in Pleasant Prairie (Kenosha County), Wisconsin. The 9,035-sq.-ft. three-tenant center was purchased by Mark Cosenza, VP of Oak Brook, Illinois-based Inland Real Estate Acquisitions, Inc. The seller was Milwaukee-based Evo Properties, LLC.
 

Fort Worth, Texas – RadioShack Corp. will reportedly auction the leases of 2,000 stores in March, while GameStop has entered the picture as a bidder. According to Reuters, the bankrupt retailer received court approval to hold the auction on March 17 with Standard General making an initial “stalking horse” bid of $200 million and will move the date back to March 23 if more bidders emerge.

Cranberry Township, Pa. -- Teen retailer rue21 announced the opening of its flagship, which is located less than one mile from its corporate office. The 8,000-sq.-ft. store includes apparel and accessories for both girls and guys as well as the chain’s newest and fastest-growing division, rue+ plus sizes. The merchandise mix also features fragrance, beauty and room decor.

Madison, Wis. -- Two locally owned businesses – Mes Amies and Waxing the City – will join the tenant lineup as part of the redevelopment of Hilldale shopping center, located in Madison, Wisconsin.

Women’s apparel boutique Mes Amies will open this summer, a relocation from Chicago. And waxing and personal care studio Waxing the City will make its Wisconsin debut with the Hilldale store, also slated to open summer 2015.  

Fort Myers, Fla. – Chico’s FAS Inc. announced plans to open 40 new stores and spend $30 million rolling out new POS systems, including mobile technology, in fiscal 2015. But the retailer also said it would shutter 120 existing locations over the next two years to improve its overall store fleet productivity and slash jobs. The closings are expected to ultimately result in expense savings of approximately $55.2 million upon completion.

Conshohocken, Pa. -- Ikea announced that it has chosen VCC to serve as construction manager both for the site work and store development of its new, larger store in Burbank, California. The new location will replace the chain’s existing Burbank store, which is also Ikea’s oldest store in the Western United States.

Pending remaining approvals and permits, groundbreaking is on track for fall 2015 and store opening in spring 2017. Until the new, roomier store opens on the new site, customers can continue to shop at the existing Ikea Burbank.

Chico’s FAS Inc. has revealed plans to close more stores, cut jobs and decrease its capital spending to $100 million for fiscal 2015, a 29% decrease to its three-year average.

Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, Inc., will open a new store in north Jacksonville, Florida.  The opening is slated for Feb. 28.

The new store is located in Highland Square at Dunn Avenue and Monaco Drive off Interstate 95. Florida is the retailer’s third largest state with a total of 25 stores. Including this new location, dd’s Discounts will operate over 150 locations in 15 states.