REAL ESTATE

New York City -- Charter Realty & Development announced it has leased 15,000 sq. ft. for a five-screen Alamo Drafthouse Cinema in Manhattan.

The location, 2626 Broadway, is in the upper west side and is owned by Bialek and Associates of Manhattan. Alamo will be occupying the former Metro Theater and intends on renovating it back to its former glory. The deal represents Alamo Drafthouse Cinema’s first entry into New York City and the company is looking for further growth opportunities in the market.

Encino, Calif. -- Marcus & Millichap Real Estate Investment Services announced a number of appointments within its National Retail Group offices around the country.

Joel M. Dumes has been named director of the firm’s National Retail Group in Cincinnati; Dumes is currently VP investments for the company.

Scott J. Wiles, a seven-year veteran of the company, was named director of the firm’s National Retail Group in Cleveland, and Erin E. Patton is now director of the National Retail Group in Columbus, Ohio.

Woodland Hills, Calif. -- NewMark Merrill Cos. has announced the acquisition of Twin Peaks Mall in Boulder, Colo., as well as six new property management contracts totaling more than one million sq. ft.

The new property management assignments include six California centers: Simi Valley Town Center, Lancaster Plaza, Visalia Center, Topanga Willows, Paseo Marketplace in Thousand Oaks, and Page Plaza in Hemet.

Virginia Beach, Va. -- Divaris Real Estate Inc. announced the following lease transactions were completed for several retail tenants:

A lease extension was signed with Tidewater Finance Co. for 25,516 sq. ft. of retail space in the DRE-leased and –managed Tidewater Plaza in Virginia Beach.

Atlanta -- Jones Lang LaSalle announced it has hired Paul Berkman, Craig Slosberg, Davie Berke and Justin Haber in New York. The retail brokers will head the expansion of the firm’s retail tenant representation services in Manhattan.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it completed the $270 million sale of 11 full-line Sears store locations to General Growth Properties.

Sears said the stores will continue to operate as Sears locations into 2013 or 2014, with final closing dates to be announced later this year. The stores are in Florida, Hawaii, Illinois, Iowa, Minnesota, Oklahoma, Texas, Utah and Washington.

Sears announced in December it would close between 100 and 120 stores to raise cash after a disappointing holiday season.
 

Washington, D.C.  -- The retail real estate sector posted positive net absorption, a stable vacancy, and a near-stabilization of rent for the first quarter of 2012, according to the latest research from CoStar Group.

Minneapolis -- Best Buy on Saturday announced the locations of the 50 stores that it is closing this year, including seven in California, six in Illinois and six in the company’s home state of Minnesota. The chain has already closed two locations: one in Missouri and one in Arizona.

Most of the remaining 48 stores will close by May 12, with three stores scheduled to close this summer.