Real Estate

Pleasanton, Calif. -- Safeway Inc. announced it plans to get rid of its 72 Dominick's stores in the Chicago area, exiting the market in early 2014.

Safeway’s decision comes after Dominick's had a net loss of $8.4 million for the third quarter, ended Sept. 7, compared with a loss of $6.2 million in the year-ago period, and a net loss of $21.5 million for the year to date, compared with $16.8 million for the year- ago period.

Chicago — Jones Lang LaSalle’s Capital Markets team has announced the completion of a sale-leaseback transaction for a portion of Walgreens Corporate Campus in Deerfield, Ill.

Realty Income purchased the 38-acre property with six buildings spanning 574,605-sq.-ft. and secured a long-term lease from Walgreens. The terms have gone undisclosed.

Scottsdale, Ariz. — With the opening of the first Montana franchise location, Massage Envy Spa now operates in 48 states. Located in Missoula, the new spa is one of the first to introduce the brand’s latest clinic design elements.

With more than 900 franchise locations operating in 48 states, Massage Envy is the largest system of franchised massage clinics in the U.S.

Indianapolis — Simon Property Group has announced the grand re-opening of the redeveloped The Shops at Nanuet, a 750,000-sq.-ft. open-air main street center in Rockland County, N.Y.

With the re-opening, three new anchors are making a debut: Fairway Market, open now, Regal Cinemas, opening in November, and 24-Hour Fitness, opening in December. They will join existing anchors Macy’s and Sears at the property.

Atlanta — Kimco Realty Corporation has acquired Five Forks Crossing, a 73,910-sq.-ft. grocery-anchored retail center in Lilburn, Ga., according to Transwestern, the firm that brokered the transaction.

Five Forks Crossing occupies 6.6 acres in Lilburn in the Gwinnett County submarket near Ronald Reagan Parkway. Anchored by Kroger, the property is 100% leased.

Transwestern represented the seller, SWA Investment.

Centreville, Va. — Lotte Plaza International Grocer has leased 47,000 sq. ft. at the 200,366-sq.-ft. Centreville Square II in Centreville, Va., and plans to open next spring.

The Asian market will join Party Depot, Sleepy’s Mattress Professionals, Five Guys, Wells Fargo, Hair Cuttery and The UPS Store.

Los Angeles — The U.S. commercial real estate market continued a slow, but steady, recovery in the third quarter of 2013, according to the latest analysis from CBRE Group.

In the quarter, the retail availability rate declined 10 basis points to 12.2% and had fallen 70 basis points from one year ago.

New York — Planet Fitness has net leased a freestanding building on Fulton Street, a major retail corridor in the Bedford Stuyvesant section of Brooklyn. From basement to second floor, the three level building will encompass 22,500 sq. ft. with 7,500 sq. ft. on the ground floor. The second floor is currently under construction, and the entire building is being renovated to fit the gym concept.

Crown Retail represented Planet Fitness, while Winick Realty Group represented the landlord, Infinity Real Estate LLC.

New York -- Whole Foods Market has signed a lease for a 29,000-sq-ft. store in Newark, N.J., according to the Newark Star-Ledger.

The store is expected to be an anchor tenant in a 112-year-old landmark building that was once occupied by the Hahne & Co. department store. The building is being converted into a multi-use space that will feature apartments, retail and office space.
The project is a joint partnership between the Newark-based Hanini Group and L&M Development Partners of New York.

Matthews, N.C. -- Family Dollar hit a major milestone in its history on Thursday as the company opened its 8,000th store, in Lancaster, S.C.