REAL ESTATE

New York -- DSW plans to test a smaller-store format that will run about 10,000 sq. ft., down from its average 22,000-sq.-ft. model.

DSW did not disclose where the tests would be. But CEO Mike McDonald told securities analysts that, if successful, the small-format stores “will create a new growth vehicle for DSW, which could significantly expand our store count potential,” Columbus Biz Insider reported.

DSW is on track to open 30 stores in 2013.
 

Chicago — Transwestern’s Chicago office has brokered the sale of the 236,173-sq.-ft. Deer Grove Shopping Centre in Palatine, Ill., to Ramco Gershenson for $20 million. Transwestern www.transwestern.net represented the seller, C-III Asset Management.

The property is anchored by Dominick’s, a Chicago-based grocer, and national tenants including TJ Maxx/Home Goods, Petco and Staples. A Target and Home Depot shadow anchor the property.

New York -- Analysts project that Francesca’s, a junior apparel and accessories retailer, will have the retail industry’s fastest rates of growth during the next three years, Bloomberg reported.

Francesca’s plans to expand to 900 stores, or double its current store count, in the next seven years.  The chain is projected by analysts to grow sales by 80% during the next three years, faster than any other apparel retailer, according to the report.

Destin, Fla. — H&M and Uncle Buck’s Fish Bowl & Grill will anchor a 100,000-sq.-ft. expansion of Destin Commons slated to open in mid-2014.

Construction is underway on the 20,000-sq.-ft H&M store, the first H&M in northwest Florida.

Uncle Buck’s, a concept by Bass Pro Shops, will offer casual dining and 16 lanes of bowling. Uncle Buck’s has also taken 20,000 sq. ft.

The expansion will include about 20 additional stores and restaurants.

Aventura, Fla. — Best Buy has signed a long-term lease renewal for 45,729 sq. ft. at Aventura Commons in Aventura, Fla., according to the Berkowitz Development Group, the landlord.

Other national tenants in the 267,000-sq.-ft. center include Target, Whole Foods, PetSmart and Ulta.

New York -- Modell’s Sporting Goods will celebrate the grand opening of two of its newest locations on Aug. 30, giving it a total of 155 storefronts.

The new stores are located in Huntington Shopping Center, Huntington Station, N.Y., and in Fivetowns Shopping Center, Rosedale, N.Y. Both locations are on Long Island.

Naperville, Ill. — OfficeMax Inc. has opened a new Business Solutions Center store format in Chicago’s Streeterville neighborhood.

The new 3,900-sq.-ft. concept store provides a portfolio of services and solutions including marketing support, website design, document, IT, cloud storage and shipping services. Merchandising includes an in-store online kiosk where products can be purchased and shipped directly to customers.

Old Bridge, N.J. — R.J. Brunelli & Co. has announced that it has been retained as exclusive real estate broker in several New Jersey counties for three fast casual chains: BurgerFi, Corner Bakery Café and Tommy’s Coal Fired Pizza. All three restaurants are seeking end-cap or freestanding pad locations with outdoor seating in lifestyle centers, power centers and other high-traffic locations, in areas offering high daytime and residential populations.