REAL ESTATE

Cypress Equities welcomes new director
Dallas -- Cypress Equities Cos. announced that it has hired Lance Taylor, director of asset management.

Taylor brings 25 years of experience in commercial real estate with varied responsibilities that include underwriting, acquisition, asset management, leasing, land development, receivership and dispositions. Lance’s background includes Archon Group, Deutsche Asset & Wealth Management, Jones Lang LaSalle America’s, Inc. and Stream Realty Partners, L.P.
Former EDENS executives launch Asana Partners
Columbia, S.C. -- Industry veterans Terry Brown, Jason Tompkins, and Sam Judd last month launched Asana Partners, a retail real estate investment company headquartered in Columbia, South Carolina.

Drawing from the team's deep operational and investment background in retail real estate, including more than $15 billion in transaction activity over the last 15 years, the company will acquire, own, and operate retail properties in dynamic markets across the United States.

GBT Realty closes on $5 million center

Fayetteville, N.C. -- GBT Realty Corporation announced that it has closed on The Shoppes of Fayetteville, a 15-acre site, located in Fayetteville, North Carolina, for $5 million. The 126,500-sq.-ft. center is in the midst of a $25 million redevelopment scheduled to be completed in summer 2016.
Ross Dress for Less expands in Colorado

Ross Dress for Less is expanding its store base in Colorado. The specialty apparel retailer will open a new store in Fort Collins, Colorado on Oct. 10.

The 25,000-sq.-ft. relocation is in the newly renovated Renaissance on the Front Range development (previously Foothills Mall). The opening is part of the retailer’s 2015 expansion program, totaling approximately 70 new locations during the year.
Hhgregg alters store experience, adds Samsung sizzle

Redesigned Hhgregg stores in Orlando and Tampa, Florida, offer new growth possibilities for the 226 store appliance, electronics and furniture retailer.

Hhgregg, on the heels of weak first quarter and 2014 results, unveiled new store designs in several Florida markets over the weekend with locations in Orlando and Tampa leading the way.
Transwestern sells Alabama center for $18.5 million

Transwestern's Southeast Investment Services Group representedKentucky-based Langley Properties Co. in the disposition of Pelican Place at Craft Farms for$18.5 million.Atlanta-based RCG Ventures acquired the 229,911-sq.-ft. shopping center located inGulf Shores, Alabama.

Transwestern VPFred Victorrepresented the seller in the transaction. RCG was represented in-house byScott Tarbet, VP of acquisitions.
Ikea going bigger in Seattle

Ikea is expanding yet another of its older U.S. stores.

The home furnishings giant has begun demolishing a covered parking structure where it will construct a new, larger store in Renton, Washington, across the 29-acre parcel from its current Seattle-area store.

Razing the building will make room for construction of the new Renton store, slated to open in spring 2017.

Actual store construction likely will commence later this year after completion of the demolition and site preparation.
Paster partners on new mixed-use project

Minnetonka, Minn. — Real estate developer Paster Properties and multi-family property developer and manager Bader Development, have begun construction at 1700 Plymouth Road, a six-story, 155,000-sq.-ft., mixed-use redevelopment project in Minnetonka, Minnesota. Paster Properties president Howard Paster and Bader Development VP of acquisitions and development Robb Bader made the announcement.
CMA appoints new marketing coordinator

CMA architecture firm Principal Patrick G. Blees announced Nicole Urista has joined the firm’s Minneapolis office to further develop CMA’s growing portfolio of regional and national accounts.

Urista’s key responsibilities are to assist leadership with business development and coordinate all marketing efforts while facilitating the continued growth of CMA.
Cult Japanese retailer lands in New York

Another global fashion retailer has made its U.S. debut.

Tokyo-based Tomorrowland , which has a cult following in its home country, has opened a store in the SoHo neighborhood of Manhattan. The retailer, which operates some 160 stores in Japan, is known for its cool fashions, upmarket prices and sleek, minimalist ambience.

The 3,200-sq.-ft. store features the brand’s exclusive men’s and women’s collections, along with a curated selection from several contemporary labels.