REAL ESTATE

Seattle — Skanska USA Commercial Development Inc. has broken ground on 400 Fairview alongside its first major office tenant — Tommy Bahama.

Skanska is the first developer to start work in the South Lake Union area of Seattle since the City Council rezoned the one-time industrial hub for office and retail.

The 400 Fairview building will be a 13-story tower with 320,000 sq. ft. of office space and 17,000 sq. ft. of ground floor retail. Skanska is targeting LEED Gold certification on the building.

Benicia, Calif. — Cycle Gear has announced the opening of its first New York State store in Hicksville. With this new location, Cycle Gear has stores in 31 states. Company officials said this is the first of many planned stores in New York.

Employee-owned and enthusiast-driven, Cycle Gear is an active member of the riding community, sponsoring local events and working with new and experienced riders to help them find just the right gear.

Houston — The Mansour Group has completed the sale of an LA Fitness in Houston for $12 million. The 45,000-sq.-ft. facility is located in Houston’s Memorial Area, the wealthiest neighborhood in the city and the sixth wealthiest zip code in the state.

Mansour www.themansourgroup.com marketed the property on behalf of the seller, a national REIT. The buyer was another institutional REIT.

New York -- Uniqlo has opened a pop-up store in the 14th Street-Union Square subway station in Manhattan. The store, which will be open through the holidays, will offer shoppers will get a $5 Metro Card in a limited-edition sleeve with any purchase.
 
“This shop fits perfectly with our strong belief in the fundamental power of clothing to improve people’s lives, and our hope is that it will provide people with comfort and warmth during the winter season,” said Larry Meyer, COO of Uniqlo USA.
 

Covington, La. — Stirling Properties has opened a new office in downtown Mobile, Ala. The company’s first location in the state, the new office joins 11 others located in Louisiana and Mississippi, further strengthening Stirling’s presence in the Gulf South.

“This office will not only serve the surging market and growing economy of Mobile but also anchor the eastern side of the Interstate 10 corridor for Stirling Properties,” said Marty Mayer, Stirling’s president and CEO.

Chattanooga, Tenn. — CBL & Associates Properties, Inc. has closed on an $80 million non-recourse loan secured by The Outlet Shoppes at Atlanta, a 75/25 joint venture with Horizon Group Properties. The 10-year loan bears a 4.9% fixed interest rate. Proceeds from the loan were used to repay a $53.2 million recourse construction loan. CBL www.cblproperties.com used its share of the remaining funds to reduce outstanding balances on the company’s unsecured credit facilities.

New York — Winick Realty Group has negotiated leases bringing three new retailers to the Flatbush Avenue retail Corridor in Brooklyn, N.Y.

Starbucks, Game Champ and Cohen’s Fashion Optical will all open doors at 395 Flatbush Avenue Extension, a full-block retail site anchored by Applebee’s and McDonald’s.

Winick represented landlord Rabina Properties in all three transactions.

Canton, Mass. -- Dunkin’ Donuts announced it is expanding to California's Central Valley and Central Coast, including Fresno, Bakersfield, Sacramento and Santa Barbara, Calif. The company is recruiting qualified multi-unit operators to open both traditional restaurants and a wide range of non-traditional venues, including colleges and universities, casinos, military bases, supermarkets, airports and travel centers. Over time, Dunkin' Donuts plans to have as many as 1,000 restaurants throughout the state.