Real Estate

Covington, La. — JCH Development and Stirling Properties have broken ground on Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans, at the intersection of South Claiborne Avenue and Toledano Street.

Altoona, Pa. — Sheetz Convenience Restaurants has opened two new locations in North Carolina. One is a 6,400-sq.-ft. store in Goldsboro, featuring a drive-through window, inside seating and a large shopping area. It will be the 59th Sheetz in the state.

The second store will open in Elkin, bringing the total number of North Carolina stores to 60.

Bentonville, Ark. – Wal-Mart Stores has reportedly registered a new company called “Wal-Mart India Private Ltd.” in India, setting the stage for entering the Indian grocery market with a new local partner. According to the Free Press Journal, an Indian publication, Wal-Mart registered the company on Jan. 15, 2014 with the Indian Ministry of Corporate Affairs.

Tucson, Ariz. — Lee & Associates Arizona has negotiated the $24.8 million sale of the River Center, a 117,563-sq.-ft. shopping center anchored by Whole Foods and Petco. Located on East River Road in the Catalina Foothills of northeastern Tucson, the center posted a cap rate of 5.5%.

Lee & Associates Arizona represented the buyer, Global Retail Investors LLC, a subsidiary of First Washington Realty of Bethesda, Md., and the seller, River Center Canada.

River Center was constructed in 1986 and remodeled in 1997 and 2013.

Dallas — Corner Bakery Café ended 2013 with a multi-unit restaurant development agreement to open eight new restaurants in the Sacramento area with a new franchise partner, East Bay restaurants of Pleasanton, Calif.

East Bay owns and operates 48 Burger King and seven Taco Bell restaurants. The group of veteran restaurant operators plans to open its first Corner Bakery in 2014 and the remaining seven over the next five years.

Cincinnati – The Federal Trade Commission (FTC) has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) with respect to the pending merger transaction between The Kroger Co. and Harris-Teeter Supermarkets, Inc. The early termination of the HSR waiting period satisfies one of the conditions to the closing of the pending merger, which remains subject to other customary closing conditions.

Chicago — Jones Lang LaSalle has named Greg O’Brien chief executive officer, Americas. Reporting directly to Colin Dyer, president and CEO of JLL, O’Brien will have overall responsibility for the Americas business. He will be succeeded as CEO, Markets by John Gates. Both appointments are effective immediately.

Currently a member of the firm’s Americas Executive Committee, which sets the strategic direction for the region, O’Brien will now head this group and join the firm’s Global Executive Board.

Dallas -- Corner Bakery Cafe rounded out 2013 with a multi-unit restaurant development agreement and plans to open eight new restaurants in the Sacramento area with new franchise partner East Bay Restaurants, Pleasanton, Calif.

East Bay Restaurants, which owns and operates 48 Burger King and seven Taco Bell restaurants, plans to open its first cafe in 2014 and the remaining sites over the next five years.