Real Estate

With an 18% same store sales increase and a 217% profit improvement in the first quarter no wonder Restoration Hardware is looking to add 31 new stores to its 69 current locations.

The company is on track to open stores in Los Angeles and Atlanta later this year and is adding two floors to its top-performing store in New York. In addition, Restoration Hardware chairman and CEO Gary Friedman said the company has signed leases for six of its stores called “next-generation full line design galleries,” and is in negotiations for 25 additional locations.

Clifton, N.J. — Blink Fitness has leased a 15,000-sq.-ft. location at the 80,000-sq.-ft. Clifton Plaza shopping center in Clifton, N.J., according to Levin Management (www.levinmgt.com), the property’s managing and leasing agent.

Co-anchored by a 24,000-sq.-ft. Big Lots and a 14,000-sq.-ft. Dollar Tree, Clifton Plaza’s tenant roster includes GameStop, Radio Shack, Angel Tip Nails & Spa, Bruno’s Pizza, Sally Beauty Supply and Valley National Bank.

Cincinnati — Kroger Co. is reportedly planning to build a $250 million distribution center in the suburban Atlanta area. According to the Cincinnati Business Courier, Kroger will open the 1 million-sq.-ft. facility in the suburb of Forest Park, on the site of the former Fort Gillem army base by September 2015.

The distribution center will open with 700 to 900 skilled workers, and eventually employ about 1,500 people. Kroger declined to comment on the report.

Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has secured four new retail leases on behalf of three lifestyle shopping centers in the Chicago metropolitan area. Mid-America represented the landlord in each transaction.

In Algonquin, Ill., Pure Mountain Company has taken 8,824 sq. ft. at Algonquin Commons in Algonquin, Ill. Premier Commercial Realty represented the tenant. Dick’s Sporting Goods, DSW, Old Navy, PetSmart and Trader Joe’s anchor the 578,825-sq.-ft. Algonquin Commons lifestyle center.

New York City — Restaurant chain Pret A Manger has leased a 2,577-sq.-ft. shop at 600 Lexington Avenue, a boutique 36-story office tower on East 52nd Street. The new location will bring the chains Manhattan locations to a total of 39.

RKF (www.rkf.com) represented Pret A Manger and the landlord, SL Green Realty Corp. in the transaction. Over the last two years, RKF has arranged a dozen new leases for the chain.

San Francisco — La Boulange, the bakery-café chain owned by Starbucks, has opened its first restaurant outside its base of San Francisco, in Los Angeles. The new all-day menu offers breakfast, lunch and dinner, using local California-sourced ingredients wherever possible, as well as tap wine and beer and specialty cocktails.

Atlanta — Arby's Restaurant Group, Inc. announced plans to launch a major remodeling program across its nationwide network of nearly 3,400 Arby's quick-service sandwich restaurants.

The turnkey revitalization initiative includes a new building image, team member re-training program and franchisee remodel financing solution.  

Bethesda, Md. — Bed Bath & Beyond has opened a new 23,400-sq.-ft. store at Wildwood Shopping Center in California, Md. This is the retailer’s 19th store in Maryland. J.C. Penney and Belk’s anchor the 289,000-sq.-ft. center. Sax Realty (www.saxrealty.com) represented Bed Bath & Beyond in the transaction. Scheer Partners represented the landlord.