Real Estate

Virginia Beach, Va. -- Divaris Real Estate, Inc. announced the completion of four retail transactions, totaling 21,688 sq. ft.

Dollar Tree renewed its lease for 9,663 sq. ft. at Williamsburg Marketcenter, located at 6610 Mooretown Road, in Williamsburg.

Castaways Inc. leased 5,025 sq. ft. of retail space at the Divaris-leased and -managed Lynnhaven Green Shopping Center, located at 1505 Lynnhaven Parkway, in Virginia Beach.

Chicago -- Urban Retail Properties, LLC, announced the acquisition of Oakland Square and Oakland Plaza in Troy, Michigan, by its parent company RAIT Financial Trust. Purchase price was $50.8 million.

Both properties are adjacent to Oakland Mall, a 1.5-million-sq.-ft. super-regional center that Urban Retail currently manages.

Niagara Falls, N.Y. -- Macerich announced that its outlet property Fashion Outlets of Niagara Falls USA will open the doors of its planned expansion on Oct. 23. The new expansion delivers nearly 175,000 sq. ft. and opens with 35 new tenants, and more to come in 2015.

Flushing, Queens -- Onex Real Estate Partners announced The Shops at SkyView Center has welcomed five new tenants to the growing roster of retailers during the third quarter.
 
The newest addition to Flushing’s mixed-use, multi-level shopping center includes Nordstrom Rack, the off-price retail division of Nordstrom, which officially opened on Sept. 10. Additionally, Justice & Brothers, a national retailer known for the best in tween fashion and accessories, catering to both boys and girls, has opened on Level D.
 

In a time of evolution and change, when buzz terms like right-sizing and asset management dominate retail real estate conversations, an unwavering focus on the tenant is more important than ever before. Chain Store Age talked with Jeff Kuchman, Principal/Director Tenant Brokerage, Mid-America Real Estate Corp., based in Oakbrook Terrace, Illinois, about the company’s tenant representation business and how it has continued to take center stage.

Indianapolis -- Real estate giant Simon on Thursday announced 'Simon Launch,' a retail startup competition aimed at discovering, investing in, and accelerating the top startups in the retail industry. Simon will co-invest in the competition's winners through its recently formed venture capital arm — Simon Venture Group — in collaboration with Plug and Play,  a global investor and technology accelerator that specializes in growing tech startups. Simon will also become an Anchor Member of Plug and Play's Retail Accelerator program.

New York -- Lululemon Athletica signed leases to open two new stores in the Soho section of downtown Manhattan, including its first-ever freestanding store for men, The Real Deal reported.

The men’s store will be located at 127 Prince Street. The women’s store will take space at 125 Prince Street.

Lululemon is on track to open some 45 locations this year.

Lancaster, Pa. -- Auntie Anne’s Pretzels, the 1, 600-unit global franchise, has entered into a partnership with Meijer. In August, Auntie Anne’s opened its first Meijer franchise location, in Fort Wayne, Indiana.
 
Auntie Anne’s will continue to build its partnership with the Grand Rapids, Mich.-based retailer with two stores currently in the pipeline. The first is slated to also open in Fort Wayne later this year, with an additional location planned for Michigan in 2015.