Real Estate

Tustin, Calif. — Present Value Properties, a real estate brokerage and consultant, has appointed real estate veteran Bradley O. Whitaker executive VP. His responsibilities include expanding investment acquisitions and sales, develop partners and look for opportunities. In addition, he will open the firm’s first Utah office.

Minneapolis -- Grocery retailer Roundy’s said it had entered into definitive agreements to sell 18 Rainbow stores in the Minneapolis/St. Paul market to a group of local grocers, including Supervalu.

The sale price is $65 million, and Roundy’s said it is seeking buyers for a remaining nine Rainbow stores so that it can fully exit the Minneapolis/St. Paul market.

The transaction is expected to close during the third quarter of this year.

Indianapolis — Simon Property Group plans to distribute all of the common shares of Washington Prime Group Inc. to Simon stockholders. Following the distribution, Washington Prime will be an independent, publicly traded company listed on the New York Stock Exchange under the symbol “WPG.”

Washington Prime (www.washingtonprime.com) will own or have an interest in 54 strip centers and 44 smaller enclosed malls across the United States, comprising approximately 53 million sq. ft.

Hudson’s Bay Company has named Paul V. Beesley as CFO, effective June 2014.

Las Vegas — Miracle Mile Shops at Planet Hollywood Resort & Casino has begun planning efforts to convert a 60,000-sq.-ft. area on Harmon Avenue along the center’s south end into a dining and entertainment destination.

New York - Uniqlo announced it will enter two new markets, Pennsylvania and Massachusetts, starting this spring. The Japanese apparel giant will open three stores in the Philadelphia market and six stores in the Boston metro area.  In addition, Uniqlo will open a pop-up shop at Faneuil Hall Marketplace, Boston, early this summer.

Uniqlo will enter Pennsylvania with three stores in the greater Philadelphia area:

• King of Prussia Mall, King of Prussia (May 16)
• 1608 Chestnut Street, Philadelphia (Oct. 3)

Despite the Easter holiday shift, Whole Foods reported second-quarter revenue of $3.32 billion, a record increase of 10% from the prior-year quarter. But the record was not enough for Wall Street, which expected $3.34 billion.

The company’s earnings per share of 38 cents for the quarter also came in below expectations of 41 cents per share.

Lewisville, Texas — Kroger and retail developer Cencor Realty Services will break ground on a 123,000-sq.-ft. Kroger Marketplace this week. Slated to open in the first quarter of 2015, the new Kroger will anchor a community-regional-draw center located in the 2,500-acre master-planned community of Castle Hills, Texas.

In addition to the Kroger Marketplace, the center’s first phase will include 40,000 sq. ft. of in-line retail space and several ground sites for national restaurant concepts that have not been announced yet.