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.  

Los Angeles -- Midtown Shopping Center Associates said it has acquired the land under Midtown Shopping Center plus two adjacent properties totaling 14.56 acres for $42.5 million from Catellus Development Corp., based in Denver.  

New York -- Modell’s Sporting Goods will celebrate the grand opening of its store in Arlington, Va., on May 9.
   
The store is located in Pentagon Centre. With its opening, Modell’s will have a total of 154 storefronts.
 
“We are thrilled to have our 18th store in the Virginia-Maryland area,” said Modell’s president and CEO Mitchell Modell. “We look forward to becoming a stronghold in our new community and getting them everything they need for the summer.”
 

Bloomfield Hills, Mich. -- Taubman said that all four of its shopping centers in the state of Michigan -- Fairlane Town Center, Great Lakes Crossing Outlets, The Mall at Partridge Creek and Twelve Oaks Mall – have received StormReady designation from the National Weather Service, a component of the National Oceanic and Atmospheric Administration.

New York -- RKF has arranged a 1,500-sq.-ft. lease at 35 Crosby Street in SoHo for men’s e-commerce apparel brand Bonobos, which will open its first stand-alone Guideshop location in New York City.

Bonobos currently operates five other brick-and-mortar locations elsewhere.

In the cast iron district of SoHo, the retailer will operate in 1,000 sq. ft. on the ground floor and 500 sq. ft. on the lower level of the seven-story building. The new store is slated to open in mid-May.

Cary, N.C. -- Indianapolis-based Kite Realty Group announced that Petco has leased 12,500 sq. ft. at Parkside Town Commons, located in Cary, N.C.
 
As well, Total Wine & More has leased 23,890 sq. ft. at International Speedway Square, in Daytona Beach, Fla.

Virginia Beach, Va. -- Divaris Real Estate has announced the completion of several leases for retail space in Virginia Beach, Norfolk and Richmond, Va.  
 
The first lease was signed with O’Reilly Auto Parts for 12,608 sq. ft. in a former Rite Aid pharmacy located in Norfolk.  O’Reilly operates 13 other stores in Hampton Roads.