REAL ESTATE

New York City -- Robert K. Futterman & Associates said Monday that it has secured a long-term lease for Gap 1969 at 513 Broadway, between Spring and Broome Streets in SoHo, for the brand’s first permanent location in New York City for the concept store.  

Gap 1969 is currently operating in a temporary space at 524 Broadway.  Scheduled to open in early spring 2011, the new apparel store will occupy 2,800 sq. ft. of ground-floor selling space, and 3,000 sq. ft. in the basement and 3,000 sq. ft. in the sub-basement.    

New York City -- The Home Depot  has closed its last store in Beijing, highlighting the difficulties that some western companies face when trying to transplant foreign business models into China.

Home Depot, which has closed five stores on the mainland in the past two years, is struggling to find the right business format for one of the world’s most difficult home-improvement markets, local analysts said.

Richardson, Texas -- Wingstop is expanding throughout the Baltimore-Washington corridor. The company, which has experienced more than seven years of same store sales increases, recently signed a development agreement to open 20 stores in the area over the next several years.

Business partners Rahim Kurji and Bidjaan Kassam have signed a 20-store development agreement and expect to open four locations in Baltimore and Washington, D.C., this year.

Canton, Mass. -- Dunkin' Donuts has signed agreements with four franchisees to develop 16 restaurants in Tampa, Orlando and Tallahassee over the next several years.

Dunkin' Donuts development throughout Florida is part of a steady and strategic growth strategy, which includes expanding in existing markets while entering new cities across the country.

Indianapolis -- Simon Property Group said Wednesday that, effective Feb. 1, it will assume leasing, management and marketing duties at The Shops at Montebello, a Los Angeles-area shopping center.

The Shops at Montebello is a regional enclosed mall built in 1985 with approximately 758,000 sq. ft. The center is home to over 160 retailers and is anchored by Macy's, Macy's Home, J.C. Penney and Forever 21.

Chicago -- Urban Retail Properties, LLC announced the appointment of John N. Christen as executive VP director of new business development.

Christen has been actively engaged in the commercial real estate industry in several capacities for over 15 years, most recently as founder of Christen Realty Capital, LLC.
 

New York City -- Walmart Canada, a unit of Wal-Mart Stores, announced that it plans to open 40 additional supercenters in its upcoming fiscal year (which runs from Feb.1, 2011 to January 31, 2012). The company is investing approximately $500 million in the project, which also includes expanding, remodeling and relocating existing stores.

Although Walmart Canada did not disclose exact locations, it did reveal that it will enter two new new markets this year: the provinces of Quebec and Manitoba.

Wyckoff, N.J. -- Inserra Supermarkets said Wednesday that its redevelopment plans for a 7.6-acre underutilized site in the heart of Wyckoff, N.J., which has been vacant for more than 10 years, are progressing.

The Mahwah, N.J.-based supermarket chain plans to raze an uninhabitable 53,000-sq.-ft. building to develop a new 62,174-sq.-ft. ShopRite within the Township’s central business district.