Real Estate

Paramus, N.J. — Vornado Realty Trust has announced an agreement to sell the 1.1 million-sq.-ft. Broadway Mall in Hicksville, Long Island, N.Y., for $94 million to an unknown buyer. The company purchased the mall in 2005 for $152.5 million.

In April 2012, the company announced its intention to reduce exposure to the enclosed mall business and to sell some of its other categories of retail shopping centers. This sale, Vornado’s last shopping center on Long Island, represents a continuation of that policy.

Coralville, Iowa — Pancheros Mexican Grill has announced plans to open 16 new locations in 2014. The fast casual Mexican restaurant rounded out 2014 with eight new location openings and 10 lease signings set for development this year.

Pancheros aims to sustain the expansion across the country with 70 additional restaurant launches over the next five years.

Los Angeles — Hong Kong is by far the world’s most expensive city for global retailers. Even so, prime rents in major global markets such as New York, Paris and London continue to break records, according to new research from global property advisor CBRE Group.

New York -- Rick Caruso, founder and CEO of Caruso Affiliated has launched a new blog on LinkedIn Influencers, an exclusive blog site for influential thought leaders. To read his inaugural post, visit post, ”The Indoor Mall is Dead, But Physical Retail Thrives.”

Beachwood, Ohio — DDR Corp has published its 2013 Corporate Social Responsibility report, which can be viewed at csr.ddr.com. The report features various initiatives taken by DDR employees throughout 2013

Chicago — Forever Yogurt and T’s Code, a women’s clothing boutique, have leased shops in Glen Town Center in Glenview, Ill. Forever Yogurt has taken 1,134 sq. ft., and T’s Code will occupy 1,789 sq. ft. CBRE represented the landlord, Bank of America Commercial Mortgage, in both leases.

Hoffman Estates, Ill. - Sears Hometown and Outlet Stores, Inc. has opened a new Sears Appliance & Hardware Store located in Huntsville, Texas. The store was the fourth Sears Appliance & Hardware Store to open in 2013 and will celebrate its official grand opening Feb. 28-March 1.

The new 18,000-sq.-ft. store offers in-store services such as blade sharpening, key cutting and screen repair, as well as products typically found in local hardware stores, such as fasteners and electrical and plumbing supplies.

Hoffman Estates, Ill. – Sears Hometown and Outlet Stores Inc. has opened two new Sears Hometown Stores. The stores are located in Longmont, Colo. and Wenatchee, Wash., and will celebrate their official grand openings Feb. 28-March 1.

The stores were the 15th and 16th Sears Hometown Stores to open in 2013. If a product is not available in-stores, Sears Hometown Store associates can order customers any product from the entire merchandise selection offered by Sears.

Dublin, Calif. -- Ross Dress for Less will open its first store in Oakland, Calif. on March 8, bringing the total to more than 250 stores in California, the retailer’s largest state. The new location will be in Foothill Square in Oakland.  

Together, Ross Dress for Less and DD’s Discounts currently operate approximately 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.