Real Estate

PHILADELPHIA — Teen and tween retailer Five Below will open 60 stores this year, including its first-ever locations in Texas.

The retailer said it will open four to five stores in Austin, Texas, and 10 to 12 stores in Dallas by late summer, with the potential for more than 100 stars in the Lone Star Sate stores over time.

Carson, Calif. -- A Friday report by the Associated Press said that the home of Los Angeles’ professional soccer team will likely be getting a new name.

The Home Depot Center, which also includes facilities for tennis, track and field, baseball, basketball and other sports, as well as serves as an official training site for U.S. Olympians, is nearing the end of the $70 million, 10-year naming rights period, and Home Depot spokeswoman Jean Niemi told AP that the retailer does not plan to renew the deal.

Oakbrook Terrace, Ill. -- A Friday report by Mid-America Real Estate Corp. found that 2012 shopping center construction in the Chicagoland area grew 10% year-over-year, after a four-year decline.

According to the 2012-2013 Chicagoland Shopping Center Report, square footage increased from 1.02 million sq. ft. of space in 2011 to 1.14 million sq. ft. – a difference of about 113,000 sq. ft.

Philadelphia -- Teen and tween retailer Five Below will open 60 stores this year, including its first-ever locations in Texas.

The retailer said it will open four to five stores in Austin, Texas, and 10 to 12 stores in Dallas by late summer, with the potential for more than 100 stars in the Lone Star Sate stores over time.

Chattanooga, Tenn. -- Mall owner CBL & Associates Properties said Thursday that, in 2013, it will complete multi-million dollar renovations at three major malls: Friendly Center in Greensboro, N.C.; Greenbrier Mall in Chesapeake, Va.; and The Mall of Acadiana in Lafayette, La.

London -- Three cities in Germany are ranked the top five European markets for commercial real estate investment, according to a report by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).

Munich took the top spot in the report, “Emerging Trends in Real Estate Europe 2013,” followed by Berlin, London, Istanbul and Hamburg. The ranking of 27 cities across Europe was based on respondents’ expectations for market performance in 2013.

Berlin, Vt. -- Berlin Mall LLC announced it has cleared the last two permitting hurdles to begin an 18,700-sq.-ft. expansion of The Berlin Mall, located in Berlin, Vt. The expansion is part of a planned increase in the size of its Walmart anchor store, which will also expand into existing, adjoining retail space at the mall
     
Construction is slated to start spring 2013.
 

Arlington, Texas -- Transwestern announced Tuesday that it has negotiated a new 9,994-sq.-ft. lease for Office Depot at Lincoln Square Shopping Center, located in Arlington, Texas.

The office supply retailer will open its smaller-footprint store – a 10,000-sq.-ft. prototype, downsized from the standard 20,000-sq.-ft. format.

Lincoln Square Shopping Center is a lifestyle shopping and dining center in North Arlington’s Entertainment District.

Jacksonville, Fla. -- Regency Centers said Wednesday it has appointed Joanna Rotonde to lead the company’s acquisitions and dispositions activities in the northeastern U.S.

Rotonde will focus on the expansion markets of Boston, Philadelphia and metro New York, and is charged with identifying, evaluating and structuring profitable property acquisition and disposition opportunities within Connecticut, Massachusetts, New Jersey, New York and Pennsylvania.  

Rotonde previously served as assistant VP for Urstadt Biddle Properties.

Purchase, N.Y. -- National Realty & Development Corp. said Tuesday that Lane Bryant will open two new locations within its portfolio, Hadley Center in South Plainfield, N.J., and Northampton Crossings in Easton, Pa.

The plus-size retailer will open a 5,000-sq.-ft. store in each location. Both are slated to open in the spring.

Hadley Center is a 542,000-sq.-ft. power center anchored by Target, Kohl’s Department Store, Dick’s Sporting Goods, Regal Cinemas and Marshalls Megastore.