REAL ESTATE

Brookfield, Wis. -- A joint real estate fund formed by Innovative Capital Advisors and HSA Commercial Real Estate recently purchased the 92,000-sq.-ft. Plaza 173 power center in Brookfield, Wis., in a competitive auction.

Tenants include Dunham’s Sports, Men’s Wearhouse, Famous Footwear and Kessler Jewelers.

New Orleans -- Stirling Properties and JCH Development have announced a joint venture to develop the first 6,000-sq. ft. building of Magnolia Marketplace Shopping Center in New Orleans at the intersection of South Claiborne Avenue and Fourth Street. A second phase of the development will commence this fall at South Claiborne and Toledano.

SEATTLE — Paladino and Company (Paladino), a sustainability and green building consulting firm, has been selected as a winner of Verizon’s 2013 Supplier Recognition Award in the green and sustainability category. The award was given in recognition of Paladino’s overall green strategic focus and longtime partnership in Verizon’s retail store volume program, which resulted in 71 Verizon Wireless stores becoming LEED certified in 2012 and more than 130 total LEED certifications through the end of 2012.

BLOOMINGDALE, Ill. -- Bridgestone Retail Operations (BSRO) continues to grow its network of tire and automotive service centers across the United States, with a projected total of 45 new retail locations this year. The company currently owns and operates a total of 2,222 stores.

CINCINNATI — Macy’s plans to open its second store in Puerto Rico in fall 2015.

The two-level, 150,000-sq.-ft. store will be located in the Plaza Del Caribe mall in Ponce. Construction is slated to begin next year and the store is expected to employ 275 associates.

Starbucks Coffee Company is extending its indoor no-smoking policy to the outdoors. The company will prohibit anyone up to 25 feet from a Starbucks store from smoking, effective June 1, where permitted by its leases. 

The new rule will apply to the 7,000 shops owned and operated by Starbucks Corp., regardless of whether they have outdoor seating areas. 

New York -- Michael Kors Holdings Ltd. is on a roll. The white-hot luxury fashion and accessories company plans to open up to 50 stores in North America in its current fiscal year, plus additional units in Europe and the Far East. Michael Kors currently has 44 stores in Europe, with another 40 planned for its new fiscal year. 

New York -- Macy’s on Friday announced the second phase of the four-year renovation of its Herald Square flagship in New York City. 

The project will include the completion of the main, mezzanine and second floors of the store bridging both the Broadway and Seventh Ave. buildings by holiday 2013.