REAL ESTATE

Vestar acquires retail center in Seattle area for $31.4 million
Tacoma, Wash. -- Vestar announced that it has acquired James Center located in Tacoma, Washington, for $31.4 million.

The 140,240 sq. ft. center is located directly across from Tacoma Community College, which enrolls nearly 14,000 students per year. James Center is anchored by Fred Meyer and Rite, as well as feature tenants: Starbucks, Subway, Verizon, Menchie’s, U.S. Bank, IHOP, FedEx Kinko’s and Ivar’s.
Ross Dress for Less expands in Keystone state
Ross Dress for Less opened a new store in Jenkintown, Pennsylvania, on March 5.

The 26,000-sq.-ft. store is located in the Noble Town Center, 15 miles north of downtown Philadelphia, at the northeast corner of Old York Road and The Fairway.

The opening is part of the retailer’s 2016 expansion program, totaling about 70 new locations during the year.

CBRE promotes Jon Springer to executive VP

Chicago -- CBRE announced Jon Springer has been promoted to executive VP within the companies Tenant Representation group.

Springer joined CBRE following its merger with Insignia/ESG. Since then, he has completed nearly 800 transactions and has been involved in almost ten million sq. ft. of transactions for clients ranging from industries such as technology, financial services and healthcare.
Analysis: Tween and teen retailers remain financially vulnerable

Apparel chains focused on tweens and teens are increasingly at risk of filing for bankruptcy protection.

At least that’s the view of Michael McGrail, COO of Tiger Capital Group and a veteran retail liquidation and asset appraisal executive.
CBRE leads global commercial property investment sales activity

Los Angeles -- CBRE Group for the fifth consecutive year was the top-ranked firm for commercial real estate investment sales throughout the world during 2015, according to Real Capital Analytics (RCA). CBRE has achieved the number one position in each of the five years that RCA has published global rankings.

Real Capital Analytics credited CBRE with 21.9% of market share across all property types, office, industrial, retail, apartment and development sites, in 2015 on a global basis.
Phillips Edison & Company names three vice presidents

Cincinnati -- Phillips Edison & Company announced three internal promotions to VP. The promotions include David Wik, Derk Taylor and Paul Mittmann to regional VPs of acquisitions for the Southeast, Midwest and West regions.

Wik joined Phillips Edison in 2010 and has more than 18 years of experience in the real estate industry. During that time, he has successfully facilitated the acquisitions of more than $1.5 billion in retail real estate.
Vestar acquires retail center in Seattle area for $31.4 million

Tacoma, Wash. -- Vestar announced that it has acquired James Center in Tacoma, Washington for $31.4 million.

James Center is a 140,240 sq. ft., situated on 15.95 acres directly across from Tacoma Community College.

The center includes anchor tenants, Fred Meyer and Rite Aid, as well as Starbucks, Subway, Verizon, Menchie’s, U.S. Bank, IHOP, FedEx Kinko’s and Ivar’s.
Mid-America Real Estate handles sale of Buffalo Crossroads Center

Buffalo, Mo. -- Mid-America Real Estate – Minnesota recently brokered the sale of Buffalo Crossroads Center located along Highway 55 in Buffalo, Minnesota. The property was acquired by a local investment group for $3.8 million.

Buffalo Crossroads is a 19,753 sq. ft. center anchored by Jimmy John’s and Anytime Fitness.
New York & Company in outlet overdrive

Specialty apparel retailer New York & Company plans to convert even more of its nearly 500 stores to an outlet format following a strong finish to the year.
Ross Dress for Less extends Missouri presence

Ross Dress for Less opened a new store in O’Fallon, Missouri on March 5.

The 25,000-sq.-ft. store is located at the O’Fallon Walk Shopping Center, 30 miles west of downtown St. Louis along Interstate 70 between Lake St. Louis and St. Peters, on the southwest corner of Highway K and Feise Road.

The opening is part of the retailer’s 2016 expansion program, totaling about 70 new locations during the year.