REAL ESTATE

Editor's Note: Chain Store Age's 24th annual survey of Fastest-Growing Acquirers measured retail square footage purchased during the 2012 calendar year.

This year's Fastest-Growing Acquirers range from list regulars to newcomers, a clear sign that retail is returning as a favored sector for growth.

A recovering economy continues to make retail an appealing category for operators and investors alike and, as might be expected, this year's fraternity contains some of the industry's major consolidators. Yet it also holds investment funds branching into new sectors.

York, Pa. -- The Bon-Ton Stores announced it will close its Younkers store in the Rapids Mall in Wisconsin Rapids, Wis.

The company will not renew the lease, which terminates July 31, 2013. The closing will impact approximately 45 associates at this location.

The Bon-Ton acquired the leasehold interests in the Wisconsin Rapids store as part of the Northern Department Store Group acquisition in 2006. The department store retailer said it does not expect costs associated with the closing of the location to be material.  

Ten years ago, demographic experts predicted a looming talent shortage: When the massive baby boom generation retired, the small Generation X would not have enough experienced leaders and managers to fill the positions that boomers would vacate.

Building stores requires a particular type of expertise on the part of the contractor. Chain Store Age spoke with Gregg Zysman of All-Rite Construction Company about what retailers should look for when hiring a contractor.

What are the most important factors retailers should consider when selecting a contractor?

The most important factor is to select a contractor that specializes in retail construction. Look for membership in associations like the Retail Contractors Association and a list of recognized retail clients.

Editor's Note: Chain Store Age's 24th annual survey of Fastest-Growing Managers measures new domestic and international third-party management and leasing contracts obtained during the preceding calendar year (2012).

Last year's numbers were such that we couldn't limit our annual Fastest-Growing third-party managers listing to a top five; a sixth was added because the contract totals were that close.

Huntsville, Ala. -- Brentwood, Tenn.-based GBT Realty has completed construction on Huntsville, Ala.’s first Academy Sports + Outdoors. The 72,000-sq.-ft. store, which opened on April 26, is the third Academy Sports development for GBT. Reed Construction served as site contractor and Stewart Perry Construction as general contractor on the project.

GBT completed construction in fall 2012 for stores in Mobile, Ala., and Smyrna, Tenn.

El Paso, Texas -- Dallas-based Venture Commercial Real Estate said it has negotiated leases for two retailers entering or expanding in the El Paso, Texas, market.
 
Rue21 has opened a 5,000-sq.-ft. store at El Paseo Marketplace, its fourth location in El Paso.

Jared, The Galleria of Jewelry has signed a lease to open its first El Paso location in a 6,057-sq.-ft. store at The Fountains at Farah, a 600,000-sq.-ft. power lifestyle center currently under construction and opening fall 2013.   

Middleburg Heights, Ohio -- Brixmor Property Group announced that a 14,151-sq.-ft. Tuesday Morning recently opened at Southland Shopping Center, located in Middleburg Heights, Ohio.

Brixmor, based in New York City, is the owner of Southland Shopping Center.