Department Store

Glendale, Calif. -- Nordstrom has unveiled its new, relocated store at Americana at Brand, the Caruso-owned luxury shopping center in Glendale, Calif.

Seattle-based Nordstrom was formerly located at nearby Glendale Galleria, but closed that store to reopen in 135,000 sq. ft. at Americana at Brand, featuring a refreshed interior design over three levels, farm-to-table restaurant Bar Verde, updated beauty experience, and an expanded selection of designer fashion brands including the first TopShop and TopMan in-store boutiques in Los Angeles.

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sales of two power center properties. In two separate transactions, PREIT sold Christiana Center in Newark, Del., and Commons at Magnolia in Florence, S.C. for $87.3 million. The proceeds represent a blended cap rate of 6.8%. Gains on the sales totaled approximately $45.4 million.

In connection with these transactions, the buyer assumed the $49.2 million mortgage loan secured by Christiana Center.

Dallas — A fund managed by Cypress Equities has acquired Promenade Tannehill in Bessemer, Ala., a suburb of Birmingham.

Tannehill is a 347,151-sq.-ft. regional power center that opened in 2008 and presently houses more than 30 retailers, including Target, Publix, J.C. Penney, Michaels, PetSmart, Premiere Cinemas, Charming Charlie, Anna’s Linens and Ross Dress For Less.

Indianapolis — Simon Property Group and Tanger Factory Outlet Centers have announced that construction has begun on Charlotte Premium Outlets. The first phase of the planned 400,000-sq.-ft. center will open in the summer of 2014. The project is a 50/50 joint venture between Simon and Tanger.

Charlotte Premium Outlets will feature Saks Fifth Avenue Off 5th and more than 90 other outlet stores.

Tanger is providing site development and construction supervision to the venture. Simon is providing management services and marketing.

Meriden, Conn. — A TJX Marshall’s store has leased a 23,137-sq.-ft. space at the Meriden Mall in Meriden, Conn. Charter Realty and Development represented the TJX Company in the transaction. Charter Realty is TJX’s exclusive broker for Connecticut, and this is the 25th lease TJX lease the company has arranged.

Anchored by Best Buy, Dick’s Sporting Goods and Macy’s, the 894,435-sq.-ft. mall, owned by The Westfield Group, has 142 stores and ranks as the seventh largest mall in Connecticut.

Norton, Va. — Rivercrest Realty Associates has acquired the 81,297-sq.-ft. Norton Commons shopping center in Norton, Va., for $6,910,000.

Divaris Real Estate represented the seller, General Electric Credit Equities, in the transaction. At the time of the sale, the center, anchored by Burke’s Outlet, was 98% occupied.

Minneapolis – Target Corp. reportedly plans to hire 70,000 seasonal workers for the upcoming holiday season, about 20% less than the 88,000 seasonal workers it hired for last year’s holiday season.

According to the Associated Press, Target wants to give full-time employees more opportunity to take on extra holiday hours. The retailer also wants to better anticipate and schedule for fluctuations in holiday traffic. About one-third of seasonal employees brought on last year obtained full-time jobs at Target.

Boise, Idaho — Gordmans Inc. has signed an anchor lease for 50,505 sq. ft. at Southshore Shopping Center in Boise, Idaho, said Pine Tree Commercial Realty LLC. The store is slated to open next spring.

The property is owned by Pine Tree –Inland Development I LLC, a joint venture between Inland Real Estate Corporation and Pine Tree Institutional Realty LLC, an affiliate of Pine Tree Commercial Realty.

Mark Bottles Real Estate Services represented the landlord in the transaction.