REAL ESTATE

Old Bridge, N.J. - R.J. Brunelli & Co. LLC has been appointed exclusive tenant representative in Monmouth, Ocean and Middlesex counties in New Jersey by a major, multi-unit Dunkin’ Donuts franchisee for that area. The franchisee plans to open five locations per year in the three-county region.

By Steve Backman and Jeff Übl

In Bismarck, North Dakota, where a regional boom associated with the nearby Bakken Formation has made the state second only to Texas in terms of U.S. oil production, commercial development is on the rise. The missing piece of the puzzle for the city, however, has been the conspicuous absence of a defining downtown mixed-use destination: the kind of a social, civic, financial, and experiential cornerstone that gives residents and visitors somewhere to live, work, play and stay.

Columbus, Ohio -- Footwear big-box retailer DSW will open stores in Michigan, California, and Washington State this month.

A 20,000-sq.-ft. store will open April 30 at Pirate’s Plaza in Flint, Michigan, representing the 10th DSW store in the Detroit market.

In Bakersfield, California, DSW will open an 18,000-sq.-ft. store at Shops at River Walk, also on April 30. The Shops at River Walk store marks the company’s first in Bakersfield.

Jericho, N.Y. - Orangetheory Fitness, a fitness studio that uses heart-rate monitoring technology and interval training to improve and increase the workout experience, is expanding in Long Island. The fitness studio’s upcoming New York expansion includes Syosset at the Syosset Corners Shopping Center and in Melville in Melville.

Peoria, Ill. - P.F. Chang’s will be coming to the mixed-use Streets of St. Charles development in St. Charles, Missouri. The restaurant, which will be P.F. Chang’s first location in St. Charles County, will feature an Asian-inspired decor and offer outdoor bistro seating along the pedestrian-friendly streetscape.

Construction is expected to begin summer 2015, with an anticipated opening in early 2016.

In an article that appeared in National Real Estate Investor (NREI) Online on April 10, author Elaine Misonzhnik describes the recent store closure announcements from Walgreens and Pier 1 as part of a larger pattern of retailers “pursuing portfolio optimization and an omnichannel approach.” While I generally agree with that statement — and with the notion that increasing pressure from online sales growth is contributing to a more competitive brick-and-mortar environment — I was reminded once again of just how different the dynamics behind store closings can be.

Baltimore -- Pandora Jewelry, in collaboration with Walt Disney Parks and Resorts, has opened dedicated shops within two Disney merchandise locations: Uptown Jewelers in Magic Kingdom Park at Walt Disney World Resort in Florida and La Mascarade d'Orleans in Disneyland park in California.

Both locations carry Pandora’s newly released spring 2015 Disney jewelry collection and the Disney Parks collection, as well as the brand’s full assortment of jewelry.

Greensboro, N.C. -- Tanger Factory Outlet Centers and Foxwoods Resort Casino announced that Tanger Outlets at Foxwoods will celebrate the new center's grand opening on Thursday, May 21 kicking off at 10 a.m. with an official ribbon cutting hosted by Drew and Jonathan from the hit show, Property Brothers. The festivities will include a design workshop with the Property Brothers, an Instagram Tech Lounge, as well as special savings and giveaways.