Real Estate

West Orange, N.J. — Retro Fitness and Chipotle have signed long-term leases at West Orange Plaza in West Orange, N.J., according to Levin Management, which represented the landlord in the transaction.

Retro Fitness took 14,115 sq. ft. and was represented by Katz & Associates. Represented by Winick Realty Group, Chipotle leased 2,557 sq. ft.

A 32.4% increase in online sales was one of few bright spots in regional sporting goods retailer Sport Chalet’s second quarter.

During the period ended September 29, the Los Angeles-based chain said sales declined 5.2% to $86.7 due to a 2.5% same store sales decline, the closure of three underperforming stores and weakness in its team sales division due to changes in personnel. The negative factors were offset by strength in the online business and the opening of one new store. Sport Chalet ended the quarter with 52 stores.

Sears Canada announced that it has reached a definitive agreement with Montez Income Properties Corp. to sell its 50% joint venture interest in eight properties it owns with The Westcliff Group of Companies for approximately $315 million.  

Chicago — Four new tenants have joined the Glen Town Center in Glenview, Ill., according to CBRE, the broker in the transaction.

Fast-casual burger chain MOOYAH made the center its 60th location in a roll-out with the goal of 100 restaurants by 2014. Pinot’s Palette, a national paint and sip franchise, is opening its third Illinois location and 48th overall. Mingle Juice is the third new tenant. Finally, The Curragh Tradition Irish Pub will make Glen Town Center its fourth location.

Seattle -- Nordstrom plans to open a Nordstrom Rack at Magnolia Park in Greenville, S.C. The approximately 32,000-sq.-ft. store is scheduled to open in fall 2014.  Magnolia Park is being developed by Menin Development.   

The Magnolia Park Nordstrom Rack will be the company's first location in South Carolina.

New York -- Sears Canada announced that it has reached a definitive agreement to sell its 50% joint venture interest in eight properties it owns to Montez Income Properties Corp. for approximately $300 million (C$315 million). Sears’ joint venture partner in the properties is The Westcliff Group of Companies.

The company said it will sell its interests in four regional shopping centers, two strip centers and two open-air retail centers.

Virginia Beach, Va. — Peter Chang’s Chinese Bistro has leased a 6,030-sq.-ft. restaurant space at Landstown Commons in Virginia Beach, Va. Divaris Real Estate represented the landlord, Inland Diversified Real Estate, in the transaction. This will be Peter Chang’s sixth location in the region.

Tarrytown, N.Y. — DLC Management Corporation, a national owner and operator of open-air shopping centers, announces the following new leases that were signed in October 2013:

•    Back to Bed, 3,852 SF, Crossroads Shopping Center – Schererville, Ind.
•    Better Sofas, 3,590 SF, Southwest Plaza – Roanoke, Va.

•    China Buffet, 4,500 SF, King City Square – Mount Vernon, Ill.