REAL ESTATE

Phoenix — Vestar announced the signing of Forever 21’s newest concept store, F21 red, at Tempe Marketplace, in Tempe, Ariz. The 1,000-sq.-ft. store, the first F21 in Arizona, will open this fall.

The F21 red brand will offer a larger merchandise selection and lower prices of the trendy fashion forward styles for young men and women than the typical Forever 21 store.

Cincinnati — Phillips Edison Grocery Center Reit II Inc. has purchased the Old Alabama Square center in Alpharetta, Ga. Old Alabama Square is a 103,268-sq.-ft. shopping center anchored by the Fresh Market.

This acquisition adds the first Fresh Market grocery-anchored shopping center to the company’s portfolio. The center also features national tenants Walgreens, Firehouse Subs, Verizon Wireless and State Farm.

New York — Apple has opened its sixth store in Manhattan, on the Upper East Side in a Beaux Arts building that was originally the home of the U.S. Mortgage & Trust bank in the 1920s. The site, on Madison Avenue, most recently housed a luxury retailer.