Real Estate

Birmingham, Mich. -- Mid-America Real Estate Corporation’s Investment Sales team, in cooperation with NAI Farbman, recently brokered the sale of The Willits Retail in Birmingham, Michigan. The 25,396-sq.-ft. asset was purchased by Southfield, Michigan-based Seligman Group.

The Willits Retail is located at the southeast corner of Willits Street and Bates Street in the Detroit suburb of Birmingham. Willits features Mitchell’s Fish Market and Cameron’s Steakhouse, together with TD Ameritrade and Darakjian Jewelers.

New York -- Fred Segal will unveil its first “international lifestyle center” concept in spring 2015, in Tokyo. The format will feature a collection of stores in three buildings in a converted railway site at 13 Daikanyama-cho Shibuya-ku, Tokyo. It will be Fred Segal’s first location outside the United States.

Phillipsburg, N.J. -- National Realty & Development Corp. announced that Hobby Lobby has opened its 56,000-sq.-ft. store at Pohatcong Plaza in Phillipsburg, New Jersey.

Pohatcong Plaza is a 562,000-sq.-ft. power center located at the intersection of Route 22 and Greenwich Road, 1/2 of a mile northwest of Interstate-78 off of Exit 3.

Beachwood, Ohio - DDR Corp. will hold the grand opening of Seabrook Commons, the company’s most recent ground-up development project located in Seabrook, New Hampshire, on Aug. 12. This 380,000-sq.-ft. prime power center is 96% leased, anchored by Wal-Mart, Dick's Sporting Goods, PetSmart, Michaels, Ulta, Famous Footwear and Five Below, and features a complementary restaurant lineup that includes Panera, Outback Steakhouse and Noodles & Company.

Seattle – Starbucks opens its first store in Colombia on July 16. The three-story location in the capital city of Bogota is the first of 50 stores Starbucks plans to open in Colombia by 2019.

Livonia, Michigan — Schostak Brothers & Company, Inc. announced the acquisition of 23 shopping centers from Coldwater Liquidating Trust. The purchase is part of a bankruptcy liquidation in which Schostak Brothers purchased the majority of the remaining Coldwater Liquidating Trust portfolio, totaling 405,000 sq. ft.

The 23 shopping centers span 19 states, and is the third acquisition of Super Walmart shopping centers in less than a year.

Aurora, Ill. — Simon has launched construction of its expansion of Chicago Premium Outlets, adding 50 new stores, including Saks Fifth Avenue Off 5th, and including a comprehensive renovation of the Chicagoland center.

Rutherford, N.J. -- RKF announced that two brokerage professionals have been promoted in its New Jersey office. Glenn Beyer has been promoted from managing director to senior managing director, while Conor O’Hara was promoted from canvasser to associate.