REAL ESTATE

New York -- The largest national retailer in New York City by store count, Dunkin’ Donuts has just inched further ahead with the opening of its 500th city location, a co-branded restaurant with Baskin-Robbins.

Located in Times Square, the restaurant features new Dunkin’ Donuts’ and Baskin-Robbins’ design concepts such as digital menu displays, updated furniture and lighting, electrical outlets, bar top areas for smartphones and computers and free Wi-Fi Internet access.

Santa Clara, Calif. -- Most malls have food courts. Westfield Valley Fair Mall in California’s Silicon Valley has begun construction of a multi-million dollar dining terrace that will feature indoor and alfresco seating.

Where in Silicon Valley is the mall? It straddles the border between two noted Silicon Valley cities: Santa Clara and San Jose.

Wenatchee, Wash. -- Sportsman’s warehouse has signed a lease for a 49,000-sq.-ft. former Sears location at the Wenatchee Valley Mall in Wenatchee, Wash., according to Vintage Real Estate, which brokered the deal.

The new Sportsman’s will open in the spring of 2014. Sears will open a 10,813-sq.-ft. new format store in the mall.

Calabasas, Calif. -- Marcus & Millichap Real Estate Investment Services has named Paul Loubet as western region director of the national retail group.

Based in the firm’s Newport Beach, Calif., office, Loubet will direct more than 100 investment sales professionals operating from more than 25 offices comprising Marcus & Millichap’s western region.

Cranford, N.J. -- Winick Realty Group N.J. has announced the formation of an investment sales division in the company’s Cranford, N.J., office. The new division will focus on a wide range of properties from ne-leased investment-grade properties to shopping centers throughout New Jersey.

“The investment sales market is red-hot right now, with a substantial amount of business that reaches pre-recession levels,” said Tyler Bennett, senior VP and founding partner of Winick Realty N.J.

Cincinnati -- Phillips Edison-ARC Shopping Center REIT Inc. has acquired Boronda Plaza in Salinas, Calif. Food 4 Less, a subsidiary of Kroger, anchors the 93,071-sq.-ft. shopping center, which is 98% occupied.

When combined with the Food 4 Less lease, 68% of the rents for the center derive from national tenants. More information at Phillipsedison-arc.com.
 

Los Angeles -- CBRE Group Inc. has made two research appointments.

First, Nick Axford, Ph.D., will move up to Global Head of Research, a new position, from CBRE’s Asia Pacific business unit. He will manage global research efforts, establish strategies that support CBRE objectives and serve as a resource for clients on global commercial real estate trends.

In addition, Raymond Torto, Ph.D. will become global chairman of CBRE Research. He will analyze market trends for clients.

Highland Park, Ill. -- Landmark Theatres will re-open its remodeled five-screen Renaissance Place Cinema in mid-July.

The extensive renovation added a full-service bar and lounge, new seating and sound systems that include hearing loop technology, which wirelessly transmits sound from films to hearing aids with telecoils.