REAL ESTATE

City of Industry, Calif. -- Private equity outfit Sycamore Partners said Thursday it has completed its previously announced acquisition of Hot Topic, valued at about $600 million and returning the Hot Topic namesake stores and the Torrid banner to the private sector.

"Hot Topic and Torrid are both leaders in their categories, and we are excited to have both brands as part of our portfolio," said Stefan Kaluzny, managing director of Sycamore Partners.  

Tucson -- Lifetime Martial Arts #1 is relocating Karate 4 Kids Martial Arts to Plaza Del Oro Shopping Center. The new location will open in mid-June.

Commercial Retail Advisors represented the tenant and CBRE represented the shopping center.
 

New York -- Winick Realty Group has signed Adam Kruvant and Gary Krauss as brokers in its Cranford, N.J., branch.

Krauss comes to Winick with a background in retail supermarket operations and food and drugstore marketing. Kruvant came up through Winick’s Agent Training Program. He previously worked for Vanguard Realty.

Seattle -- Outdoor retailer REI announced Thursday it will open two new stores in the spring, one in Flagstaff, Ariz., and the other in Columbus, Ohio.

New York -- Washington, D.C. ranks as the nation’s hottest retail market, followed by Greater New York City, a leading developer told Chain Store Age in an exclusive video interview.

To see the interview with Inland Real Estate Group vice chairman Joe Cosenza, click here.

Cincinnati -- Cobb Theatres’ CineBistro will co-anchor Cincinnati’s 1.1 million-sq.-ft. Liberty Center with Dillard's, according to center developers Steiner + Associates and Bucksbaum Retail Properties. The developers plan to announce a third anchor in coming weeks.

CineBistro was recently named as “one of eight theatres redefining the movie-going experience” by Entertainment Weekly.

Winston-Salem, N.C. – Krispy Kreme Doughnut Corporation has entered into a letter of intent with an affiliate of Sun Holdings, LLC for the sale of three company-owned shops in Dallas, and for Sun Holdings' further development of the Dallas market. The sale of the stores is subject to conditions, including the execution of a definitive asset purchase agreement and a development agreement pursuant to which Sun Holdings would undertake the further development of new Krispy Kreme shops in Dallas.

Chicago -- The Opus Group has begun construction of a 31,175-sq.-ft. center in Glen Ellyn, Ill., near Chicago. A 20,300-sq.-ft. The Fresh Market will anchor the project.

The site, a vacated car dealership, will include patio seating and 186 parking spaces.

The center is 75% leased. In-line tenants include Great Clips and the first Tide Dry Cleaners in the Chicago area.

Serving the Glen Ellyn and North Wheaton communities, the center is slated to open in late 2013.