Real Estate

By Ann Natunewicz, national manager, Retail Research, USA Retail Services Group

The outlet shopping experience has morphed from warehouse settings offering damaged and closeout merchandise to today’s centers that are designed to maximize customer flow and sell merchandise from the most exclusive international designers.

West Des Moines, Iowa -- Convenience-store operator Kum & Go. opened 43 stores in nine states — more than double its previous record of 21 new stores in 2009 — in 2012, for a total of 430 stores in 11 states. The company plans to continue its growth strategy in the coming years.

“We’re not letting up,” president and CEO Kyle J. Krause said. “Our growth plan for the next five years is just as aggressive.”

Oak Brook, Ill. -- Inland Diversified Real Estate Trust announced Monday the acquisition of a majority interest a portfolio of six grocery/home-improvement-anchored retail properties located in Las Vegas.

The properties were acquired in a joint venture between a subsidiary of Inland Diversified and affiliates of the seller Territory Inc.; the joint venture valued the portfolio at about $296 million.

Savannah, Ga. -- Brixmor Property Group announced the recent openings of a 34,103-sq.-ft. Save-A-Lot and a 1,000-sq.-ft. Maison De Macarons at Eisenhower Square, located in Savannah, Ga.

Also, a lease has been executed for an 8,640-sq.-ft. Generation One, a hospital-based, senior-related healthy aging program.

Brixmor, based in New York City, is the owner of Eisenhower Square.

Atlanta -- Jones Lang LaSalle announced Monday that it has promoted Kristin Mueller to COO.

The firm also announced the establishment of new leadership roles, including the promotion of John Bemis and Geno Coradini to Retail Market Lead in Atlanta/Southeast and Dallas/Southwest, respectively.

New York -- Douglas Elliman's Retail Group said Monday it has arranged a lease at 55 Spring Street, between Lafayette and Mulberry Streets, for Eight Turn Crepe, a Japanese-based restaurant chain.

The opening marks the quick-serve chain’s U.S. debut.
 
The space was previously occupied by Choco Bolo.

St. Petersburg, Fla. -- The Sembler Co. announced Monday that, in celebration of the firm’s 50th anniversary, it has launched a new website, Sembler.com.

This is the second major revision to the website since the initial launch in 2002. With technology and social media changes, the new site enables better interaction among The Sembler Co., its clients, vendors, and associates.

New York -- Private equity firm Cerberus Capital Management LP and its partners are nearing an agreement to buy parts of Supervalu Inc., the Wall Street Journal reported.

Cerberus and its partners plan to buy some assets of the retail chain and take a stake in the remainder, which is expected to remain public, according to the report.

New York -- British clothing and accessories retailer Jack Wills Outfitters is opening a new store, in New Canaan, Conn.

The company has chosen builder and general contractor A&O Danner, Inc., of Plymouth, Mass., to complete the buildout. In 2010-11, Danner built two other Jack Wills stores in Connecticut, in Greenwich and Westport.

Chicago -- General Growth Properties said Thursday it was informed by Brookfield Asset Management that affiliates of Brookfield acquired the GGP warrants held by affiliates of Pershing Square Capital Management.

The warrants represent the right to acquire 18.43 million shares of GGP stock at a value of $0.01 per share.

General Growth also said it has been offered by Brookfield the right to acquire the warrants, for the same price of $271.88 million paid by Brookfield, within the next 30 days.