Real Estate

Orlando, Fla. -- Darden Restaurants on Friday said it has reached an agreement to sell its struggling Red Lobster chain to private equity firm Golden Gate Capital for $2.1 billion.

"Red Lobster is exactly the type of company in which we seek to invest given its great brand profile and strong management team,” said Josh Olshansky, managing director at Golden Gate Capital. “We see significant opportunities for future growth by partnering with Kim Lopdrup and the management team to support the long-term success of Red Lobster."

New York -- From indie favorites to mass-market British brands, here are seven retailers getting ready to make their U.S. brick-and-mortar debut:

1. Nasty Gal

Dallas – A previously undisclosed conflict of interest may endanger the proposed $1.4 billion purchase of jewelry retailer Zale Corp. by rival Signet Jewelers. According to the New York Times, Bank of America, which represented Zale in talks with Signet, failed to disclose it had made an unsolicited presentation to Signet in October 2013 where it advised Signet to consider purchasing Zale.

Walmart’s new convenience store test concept, Walmart To Go, is located in its hometown of Bentonville, Arkansas.  

The approximate 2,500-sq.-ft. store is a hybrid. Part grocery store, part c-store and part quick-serve restaurant, it offers a mix of groceries, c-store staples, and refrigerated and fresh prepared foods, complete with a deli counter. Products are priced the same as they would be in a regular Walmart store.     

Woodland Hills, Calif. — E-commerce and smartphones are re-shaping brick-and-mortar shopping center industry. In recognition of that trend, NewMark Merrill Cos. has launched BrightStreet Ventures, a technology affiliate focused on developing new technology platforms.

Billund, Denmark – The Lego Group opens a new Legoland Discovery Center store at Assembly Row in Somerville, Massachusetts, on May 23. The 44.000-sq.-ft. store will include two Lego rides, a 4-D cinema, and a large soft play area.

It will feature 11 attractions in total and be the sixth Legoland Discovery Center in the U.S. and 10th worldwide. The store is aimed at children ages 3-10, but minors must be accompanied by an adult.

Fort Worth, Texas — Rice Management Co. has selected Trademark Property Co. to oversee asset and property management, leasing and repositioning of the village Arcade in the historic Rice Village district of Houston, Texas.

The selection comes after Rice University exercised an option to acquire the leasehold interest in the two-level 195,000-sq.-ft. open-air retail center from the current owner, Weingarten. Closing is set for the third quarter of this year.

Austin, Texas – Whole Foods Market is thrilled opens a new location at Greenway Town Center in Tigard, Oregon, on May 21. The store will feature products from local producers, a community art installation, LED lighting, recycled building materials, a fire pit, and a three-season outdoor seating area for about 60 customers.