Real Estate

Sierra Vista, Ariz. — The Realm Salon, an approved Aveda Salon, is opening a new 1,500-sq.-ft. full-service salon in Indian Hills Plaza in Sierra Vista, Ariz. The new salon plans to open by June 1.

First West Properties Corporation represented the tenant in the transaction. Commercial Retail Advisors represented the landlord, Indian Hills Investors.

Milwaukee — Mid-America Real Estate Corporation’s investment sales team has brokered the final sales phase of The Shoppes of Nagawaukee in Delafield, Wis. This was the third transaction consummated on behalf of the seller, Told Development, for this shopping center since 2012.

Dallas — Shayan Holdings has purchased the 29,200-sq.-ft. Lebanon Ohio Center, an unanchored strip retail complex, in Frisco, Texas. The seller was LandPlan Development Corporation. The price was not disclosed.

The center is currently 90% occupied. Tenants include CrossFit Remedy and Arts and Technology Institute. CBRE’s Dallas office represented the seller in the transaction and conducted the financial analysis.

New York — Vornado Realty Trust plans to spin off nearly 16.1 million sq. ft. of shopping center assets into a new publicly traded REIT by the end of 2014, leaving the company with a largely office-centric portfolio, according to SNL Real Estate.

The move will simplify Vornado’s investment strategy and enable the company to focus on the ownership of office assets in the Washington, D.C., and New York City regions, including the high-value Manhattan office over retail assets.

Old Bridge, N.J. — Retail leasing specialists R.J. Brunelli & Co. has announced the promotion of Nick DeLuca to sales associate.

Ewing, N.J. — Giant Wine & Liquor, doing business as Buy Rite Liquor, has leased 6,000 sq. ft. at the 360,000-sq.-ft. Capitol Plaza in Ewing, N.J. Levin Management, the exclusive leasing and managing agent for the center negotiated the long-term lease.

Greenwich, Conn. — Newmark Grubb Knight Frank Retail Services has appointed Jessica Curtis as senior managing director in the Greenwich, Conn., office. Curtis will represent national clients in their expansion plans and work with local entrepreneurial retailers and restaurants ready to grow beyond their current locations.

Queens, N.Y. — The Children’s Place has leased a 3,799-sq.-ft. space near other child focused retailers at The Shops at SkyView Center in the Flushing neighborhood of Queens, N.Y. The retailer plans to open in May.

Dallas - SRS Real Estate Partners welcomes T.J. Powell as first VP in the Austin office. He will focus on tenant and landlord representation.

Powell has four years of commercial real estate experience and joins SRS from Retail Solutions, where he focused on third-party project leasing and tenant representation.

Arlington, Va. — Simon Property Group has announced details of a multi-phase renovation and expansion at The Fashion Centre at Pentagon City in Arlington, Va. Anchored by Nordstrom and Macy’s, The Fashion Centre is home to more than 170 stores.