Real Estate

Highland Park, Ill. — Executives with Renaissance Place are working with officials from the City of Highland Park, Ill., to identify the best use for a 49,000-sq.-ft. building that Saks vacated at the close of 2012.

One possible use is healthcare, which may involve interventional cardiology, MRI/radiology and other outpatient services. The Renaissance Place team is also considering national, regional and local retailers.

Simi Valley, Calif. — Milan Capital Management has acquired the Smart & Final Center in Simi Valley, Calif., for $16.9 million — $170 per square foot Marcus & Millichap Real Estate Investment Services represented Milan Capital and the seller, who had owned the property for 45 years.

The Woodlands, Texas -- Conn’s has opened two new HomePlus stores in Scottsdale, Ariz., and Laredo, Texas. The new Conn’s HomePlus store format showcases furniture and mattresses in addition to consumer electronics and home appliances.

Conn’s currently operates more than 70 retail locations in Texas, Louisiana, Arizona, Oklahoma and New Mexico.

New York – The Jones Group has reportedly set Dec. 1 as a final deadline for a buyout bid from Sycamore Partners. According to Women’s Wear Daily, with the assistance of Citi Jones Group has gone through an extensive auction process which at times included KKR & Co. and G-III Apparel Group Ltd.

Fremont, Calif. -- Men's Wearhouse has turned the tables on Jos. A. Bank Clothiers, with a proposal to acquire its one-time suitor for approximately $1.54 billion. Men's Wearhouse is offering $55 per share for Jos. A. Bank, which represents nearly a 9% premium to the company's $50.32 Monday closing price.

Jos. A. Bank made an unsolicited $2.3 billion bid in early October for Men’s Wearhouse, which rejected the offer, calling "opportunistic" and "inadequate."

New York — European Wax Center has signed a lease for 1,650 sq. ft. of ground floor retail space at 95 Chambers Street/75 Reade Street between Broadway and Church in Tribeca, according to Winick Realty Group, the broker representing both the retailer and the landlord, Ascend Group, in the transaction.  

Winick also represented Reade Street Prep in a lease transaction for a 3,600-sq.-ft. expansion space on the 75 Reade Street side of the building.

Deerfield Beach, Fla. — Konover South has bought back a portfolio of nine Florida retail shopping centers valued at more than $100 million. Konover had previously sold a share of the portfolio to an institutional investment partner. The buy-back returns complete ownership to Konover, which developed or redeveloped the properties over the years.

Peoples United Bank provided $75 million of new permanent financing for the transaction.

Virginia Beach, Va. — Dollar General, Lily’s As Seen on TV, Sunrise Pizzeria and General Nutrition Corporation have all signed leases for retail space in Virginia, according to Divaris Real Estate, which represented the shopping centers in the transactions.

Dollar General renewed its lease for 6,720 sq. ft. in the Divaris-leased and –managed Glenwood Shoppes in Norfolk.

Undeterred by volatility in its sales results, leading footwear retailer DSW maintained its pace of expansion and opened 16 new stores to end the third quarter with 393 locations.

The operator of large format footwear stores that average about 22,000-sq.-ft., said its third quarter sales declined 0.7% while total sales increased 6.8% to $633 million due to the addition of the new stores. The third quarter comp decline is the latest development in what has been a tumultuous year from a sales standpoint.

East Rutherford, N.J. -- Victoria’s Secret, in partnership with travel retailer Hudson Group, has opened a new beauty & accessories store in Los Angeles International Airport's Tom Bradley International Terminal (TBIT).
The store has a sophisticated storefront, while the interior features upscale elements like black-cherry fixtures and eye-catching focal walls. The interior includes a gallery of iconic black and white images and a video wall that broadcasts footage of the Victoria's Secret Angels.