Real Estate

Rockford, Mich. -- Wolverine Worldwide said it plans to close about 140 stores, primarily under the Stride Rite banner,  over the next 18 months as part of a strategic realignment plan to accelerate growth and improve overall profitability.  About 60 stores will close by the end of the current fiscal year, with the rest to be shuttered by the end of 2015.

Greenwood Village, Colorado -- Red Robin Gourmet Burger announced it has completed the acquisition of 32 Red Robin franchised restaurants in the United States and Canada, for approximately $40 million from Mach Robin, LLC and Mach Robin, LLC’s Canadian affiliate.

Simon, a global leader in retail real estate, has appointed retail and real estate executive Stephen Yalof as CEO of premium outlets and senior EVP of Simon.

Yalof has served as SVP of real estate for Ralph Lauren Corporation since 2002. His 15 years of experience within the retail industry also includes his role as senior director of real estate for Gap. Yalof began his career in real estate under the leadership of Arnold Labich at New Plan Realty Trust, and became VP of leasing for their factory outlet business.  

Atlanta – Aaron’s Inc. on Tuesday said it plans to close 44 underperforming stores in the third quarter of fiscal 2014 and continue other cost-reduction initiatives in response to disappointing core business performance. The electronics, furniture and appliances rentals retailer also revised its earnings guidance downward for the second quarter.

The company praised the performance of its recently purchased Progressive Finance unit.

Indianapolis – Simon has named retail and real estate executive Stephen Yalof as CEO of premium outlets and senior executive VP of Simon. Yalof has served as senior VP of real estate for Ralph Lauren Corp. since 2002.
 
His 15 years of experience within the retail industry also includes his role as senior director of real estate for Gap. Yalof began his career in real estate at New Plan Realty Trust, and became VP of leasing for their factory outlet business. 

Brooklyn, N.Y. -- Home furnishings retailer West Elm will open in New Orleans on July 24.

Located in the Lower Garden District, the approximately 10,000-sq.-ft. store is designed with installations inspired by New Orleans culture and will feature a local assortment made by Louisiana-based artisans that includes art, leather goods, vases and stationery.

Dublin, Calif. -- Ross Dress for Less (“Ross”) will open a new store in Utah on July 19, in The Shoppes at Lake Park in West Valley City. This increases the number of stores in the state to 16 locations.
      
The opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations for the year.

Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.

New York -- RKF has announced a number of promotions for senior brokerage professionals in its New York City headquarters office. The promotions come closely on the heels of RKF’s expansion of its New York headquarters space at 521 Fifth Avenue in midtown Manhattan.