REAL ESTATE

Report: CVS to open new location on Vegas strip
A CVS store is expected to open on the Las Vegas strip in May, according to a report by Vegas Inc. published Tuesday. It will be CVS' fourth location to Walgreens' five, the report noted. "They've really been popping up quickly," Ray Germain, associate VP investments with Marcus & Millichap told Vegas Inc. "It's crazy what you'll pay for a little packet of Advil. (Vegas Inc.)
The Vitamin Shoppe to open 10 new locations
Plymouth Meeting, Pa. -- Metro Commercial Real Estate announced it has negotiated 10 new store openings for The Vitamin Shoppe in Pennsylvania and New Jersey.

The Vitamin Shoppe, is a leading multichannel specialty retailer and contract manufacturer of nutritional products with 700+ stores throughout the U.S., Puerto Rico and Canada.

The Vitamin Shoppe Pennsylvania locations: Chadds Ford, Fairless Hills, Feasterville, Lancaster, Paoli, Philadelphia, Dickson City/Scranton and Wilkes-Barre.

Gordon Brothers hires director of real estate

Boston -- Gordon Brothers Group announced the appointment of John Dattilo as director, real estate of the commercial & industrial division, to the Chicago office. Dattilo will oversee the analysis, acquisition and sale of industrial real estate assets.
Walmart to exit Walmart Express pilot as part of global 269-store closings

Walmart said it will close 269 stores worldwide this year, including many of its smallest-format stores, in a move that CEO Doug McMillon characterized as being more disciplined about growth. It is one of the largest number of stores closures that Walmart has ever announced at one time.
Pei Wei expands presence in Florida

Winter Garden, Fla. -- The Sembler Company has completed construction on the final outparcel at the 1.15 million sq. ft. Winter Garden Village located in Winter Garden, Florida.

Pei Wei Asian Diner and Mattress One will occupy the new 7,200-sq. ft. building, marking complete build-out of the development originally started in 2006.
CSA to select 27th annual fastest-growing shopping center companies

Shopping center companies will receive recognition for 2015 development, acquisition and third-party management activities, as Chain Store Age’s 27th annual “Fastest Growing” awards rank the most active shopping center owners, managers and acquirers for projects, contracts and transactions completed during last year.

The top placers will be featured in the May 2016 issue of Chain Store Age, which will be bonus-distributed to the International Council of Shopping Centers’ annual RECon event in Las Vegas.
Fast-casual chain taps Buxton to help identify new growth opportunities

Kneaders Bakery & Café has partnered with Buxton to support its growth initiatives as it expands into new markets.

Buxton will identify franchise territory opportunities for the Utah-based Kneaders based on customer analytics.
CSA opens up nominations for '10 under 40' in retail real estate

Chain Store Age has launched our annual search for 10 individuals in retail real estate we call “retail stars.” All will be featured in the May 2016 issue of CSA with bonus distribution at the International Council of Shopping Centers’ RECon event in Las Vegas!

The award recognizes people under the age of 40 who are making an impact in retail real estate – whether from the tenant (retail) or the landlord (shopping center company) side.
Northgate González Markets purchases property for store relocation

Newport Beach, Calif. -- X Team International announced that partner Strategic Retail Advisors negotiated the purchase of a 104,423-sq.-ft. property at La Habra Towne Centre located in La Habra, California, on behalf of Northgate Gonzalez Markets.

La Habra Town Centre is situated on 9.2 acres and is currently home to CVS, Petco and Jack in the Box. Nelson Wheeler and Blaine Bush of SRA represented Northgate Gonzalez Markets. Jones Lang LaSalle represented the seller.
The Oaks of Oak Brook in Illinois sells for $18.25 million

Oak Brook, Ill. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Oaks of Oak Brook in Oak Brook, Illinois. Newport Capital Partners acquired the 67,143-sq. ft. property on behalf of Newport Fund II for $18.25 million.

The Oaks of Oak Brook is located at the northwest corner of Kingery Highway (Illinois Route 83) and 16th Street. The center features a tenant lineup including: Panera Bread, Athletico, Wells Fargo and Sleepy’s.