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REAL ESTATE

  • Inland Diversified Real Estate Trust acquires $71.4 million in grocery properties

    Oak Brook, Ill. -- Inland Diversified Real Estate Trust announced the acquisition of six triple-net leased grocery properties in two separate portfolio acquisitions, with a total combined purchase price of approximately $71.4 million.

    The acquisitions include three grocery stores in Missouri that are fully leased to Schnuck Markets, purchased for approximately $22.6 million in a sale-leaseback transaction. Additionally, three Pathmark grocery stores located in Delaware, Pennsylvania and New York were acquired for approximately $48.8 million.

  • Jamestown acquires 799 Market Street

    San Francisco -- Real estate investment and management firm Jamestown said Wednesday it has acquired 799 Market Street, a 142,902-sq.-ft. mixed-use development in downtown San Francisco.

    The eight-story urban retail and office building includes five floors of creative office space atop 55,000 sq. ft. of retail, currently 100% occupied by a Ross Dress for Less flagship store, one of the five highest performing Ross stores in the nation.

  • Uniqlo in West Coast debut unveils ‘virtual dressing room’

    San Francisco -- Uniqlo will open its first store on the West Coast, in San Francisco, on Oct. 5.

  • Green building leaders establish firm to advance sustainable real estate

    Seattle -- Green-building consulting firm Paladino and Co. said Wednesday it has acquired S.D. Keppler & Associates, a green consultancy out of Rockville, Md.
     
    The two firms have joined to establish a comprehensive consulting offering focused on elevating the impact of green real estate programs within business.

  • Bon-Ton to close Elder-Beerman location in Springfield, Ohio

    York, Pa. -- The Bon-Ton Stores said Wednesday it will close its Elder-Beerman store in Springfield, Ohio. The company will not renew the lease, which terminates January 31, 2013.
     
    Bon-Ton acquired the leasehold interests in the Springfield store as part of the Elder-Beerman acquisition in 2003.

     

  • Soma Intimates opens at Willow Grove Park

    Willow Grove, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said Monday that Soma Intimates recently opened at Willow Grove Park, in Willow Grove, Pa.

    The 2,369-sq.-ft. store will be joined by a newly formatted J.C. Penney opening this fall and featuring the retailer’s Shops format, along with the opening of accessory boutique Laila Rowe.

    Willow Grove Park is a three-level, 1.2 million-sq.-ft. regional shopping mall anchored by Bloomingdale’s, Macy’s, Sears and Nordstrom Rack.

     

  • J.C. Penney opens new store, Cinemark Theatre starts construction at Monroeville Mall

    Monroeville, Pa. -- Chattanooga, Tenn.-based CBL & Associates Properties announced that, on the heels of the grand opening of a 110,000-sq.-ft. J.C. Penney store, construction has commenced on a state-of-the-art 12-screen Cinemark Theatre.  Both are part of CBL’s redevelopment of Monroeville Mall, located near Pittsburgh in Monroeville, Pa.

    The grand opening for Cinemark Theatre is anticipated for late 2013.

  • Lime Fresh Mexican Grill to open at Penn Quarter

    Washington, D.C. -- Douglas Development announced that Lime Fresh Mexican Grill will open a 2,000-sq.-ft. restaurant in the Douglas Development-owned property at 726 7th Street in Penn Quarter.

    The space is currently occupied by Potbelly Sandwich Works and is scheduled to open as Lime Fresh Mexican Grill in mid-2013.
     

     

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