Old Navy, LLC

Beachwood, Ohio -- Blackstone's flagship real estate fund and DDR Corp. announced Thursday hat a joint venture formed by the two entities has closed on the acquisition of a portfolio of 46 shopping centers previously owned by EPN Group.

The joint venture has assumed approximately $635 million of senior non-recourse debt and has originated an additional $320 million non-recourse loan facility, which has a five-year term.

Harrisburg, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that DSW will open a 17,400-sq.-ft. store at Capital City Mall in Camp Hill, Pa.

To accommodate the footwear and accessories retailer, PREIT said that 5,000 sq. ft. of retail space is being added to the mall. A 2013 opening for DSW is anticipated.

SAN FRANCISCO — Gap Inc. has selected long-time H&M veteran, Stefan Larsson, as the first global brand president for Old Navy. Larsson will join the company by October.

San Francisco -- Gap Inc. announced Monday that it has appointed former H&M global sales head Stefan Larsson as the new president of Old Navy, effective the end of October.

Larsson replaces Tom Wyatt, who left the company in February.

The move is expected to pay dividends for Gap as it preps to open its first overseas Old Navy store – in Japan – this July.

Sunrise, Fla. -- Indianapolis-based Simon Property Group announced that Sawgrass Mills, the largest outlet, value retail and entertainment destination in the United States with more than 350 stores, will soon break ground on its newest phase of development to increase the footprint of The Colonnade Outlets at Sawgrass Mills. 

This milestone also represents the soon-to-be-completed 140,000-sq.-ft. retail expansion of the south side of the property.

Erie, Pa. -- Youngstown, Ohio-based Cafaro Co. said that Ross Dress for Less will open a store at the Millcreek Mall Complex near Erie, Pa.

The new store will open in the Millcreek Pavilion section of the complex this fall. It will occupy more than 25,000 sq. ft. next to Old Navy.

Millcreek Mall Complex, located in Millcreek Township, comprises more than two million sq. ft. of shopping, lodging, dining and entertainment.
 

Dallas -- The Retail Connection and North American Development Group announced the purchase of Towne Centre Plaza, a 94,109-sq.-ft. property located across from Town East Mall in Mesquite, Texas. 

The shopping center was built in 2002 on 8.8 acres and features Bed Bath & Beyond and Best Buy as tenants. The Retail Connection is currently in negotiations for the 23,000-sq.-ft. vacancy in the center with a national tenant, which, when leased will bring the center back to 100% occupancy.

Indianapolis -- Kite Realty Group announced that Subway has leased 1,600 sq. ft. at Traders Point II, located in Indianapolis.

Traders Point is a 395,435-sq.-ft. shopping center anchored by Bed Bath & Beyond, Books-A-Million, Dick’s Sporting Goods, Marsh Supermarket, Michael’s, Old Navy, PetSmart and AMC Theatre.

Cincinnati -- Mid-America Real Estate Corp.’s Investments Sales Group announced the recent sale of Stone Creek Towne Center located in Cincinnati.

The property was purchased by Oakbrook, Ill.-based Inland Real Estate for $36 million from a joint venture between Brandicorp and Trinity Development Co.

Alameda, Calif. -- Jamestown announced that DB Shoes and Bright Now! Dental have signed new leases at Alameda South Shore Center, a 594,000-sq.-ft., open-air retail center located in the East Bay community of Alameda, Calif.

DB Shoes has leased a 10,635-sq.-ft. retail space along the Park Street corridor. The new location is scheduled to open in April 2012.

Additionally, Bright Now! Dental, part of Smile Brands Inc., secured a 10-year, 3,805-sq.-ft. lease. The office is scheduled to open in May 2012.