Real Estate

Bentonville, Ark. — Wal-Mart is reportedly halting its Indian expansion plans, at least for now. According to the Financial Times, Wal-Mart has not opened any new cash-and-carry stores in India since October 2013 or any new convenience stores there since November 2013.

New York City — Gourmet Garage, an upscale market with five Manhattan locations, has signed a lease for a sixth Manhattan location at Collect Pond House, a co-op building at 366 Broadway.

The market will occupy approximately 6,435 sq. ft. on the ground floor and 3,510 sq. ft. in the lower level. An additional 910 sq. ft. in the mezzanine will provide seating.

Destin, Fla. — Charming Charlie and Icing by Claire’s will open at Destin Commons in Destin, Fla., next summer as part of the Northwest Florida center’s 100,000-sq.-ft. expansion.

H&M and Uncle Buck’s Fish Bowl & Grill will anchor the expansion wing.

Charming Charlie, a fashion accessories retailer, will occupy more than 6,000 sq. ft. next to Uncle Buck’s.

Oak Brook, Ill. — Retail Properties of America has appointed Matthew Beverly VP, director of investments — east region. In his new post, Beverly will lead investment activity through the evaluation and execution of acquisition and dispositions for all markets east of the Mississippi River.

Los Angeles, Calif. — CIM Group has acquired a seven-asset portfolio that includes an office tower with ground floor retail and an enclosed regional shopping mall.

Tucson, Ariz. — Sidecar, a craft beer and cocktail bar, will open in June in Tucson, Ariz., at Broadway Village plaza. The 963-sq.-ft. space will seat about 40 people inside and 12 or so people outside on the patio. Commercial Retail Advisors represented the landlord, CRI Broadway Village Partners in the transaction. Sidecar represented itself.

Whole Foods Market said total sales for the first quarter ended Jan. 19 climbed 10% to a record $4.2 billion. But those results reportedly missed analysts’ expectations, and the company has lowered its earnings outlook for 2014 as a result.

Momentum at Whole Foods — as well as shares — slipped. Comparable store sales for the quarter increased 5.4%, compared to a 7.2% increase in the prior year.

Cabela's revenue and earnings per share for 2013 grew at a double-digit rate for the fifth consecutive year, according to CEO Tommy Millner. However, despite an 18% increase in net income year-over-year to $80.1 million from $68 million, results for the fourth quarter did not meet the company’s expectations.

Millner explained that the two biggest short-term factors affecting results in the quarter were a much sharper-than-expected decline in ammunition sales as compared to last year’s surge and a softer-than-expected holiday season.

Chicago — Jones Lang LaSalle has announced the appointment of Josh Burmeister as executive VP and Gulf Coast retail brokerage lead and Ms. Buff Teague as VP. They will cover Alabama, Mississippi, Louisiana and the Florida Panhandle, partnering with John Bemis, Southeast retail market lead and John Lambert, Fla., retail market lead.

Burmeister and Teague join JLL from SRS Real Estate Partners.

While at SRS, Burmeister served as market leader for operations in Mobile, Ala., and co-market leader for Birmingham Ala., operations.

Atlanta — Flip Flop Shops has announced plans to develop 25 shops throughout South Africa, Zimbabwe and Mauritius. The new shops stem from a master franchise agreement with Barefoot, regional retail group. The first new shop is expected to open by mid-year, with additional shops following over the next 10 years.

Flip Flop Shops has nearly 100 locations globally plus more than 150 shops in the development pipeline, not including those within this new franchise agreement.