REAL ESTATE

Caruso names senior exec over strategic alliances and entertainment
Los Angeles -- Caruso Affiliated announced the appointment of Steven Martin to senior VP, strategic alliances & entertainment. Martin will oversee client sponsorships, large-scale entertainment events, brand activations, and new business development across Caruso Affiliated’s portfolio. He will report to chief marketing and communications officer Judy Johnson.
Ohio Valley Mall grows its tenant lineup
St. Clairsville, Ohio -- Ulta Beauty and Sincerely Yogurt will both open at Ohio Valley Mall this year. Sincerely Yogurt will debut first, opening a 1,275-sq.-ft. location late spring 2015. Ulta Beauty will open a 9,700-sq.-ft. store near Sears by early fall. The construction of the new Ulta will introduce a new, exterior doorway providing direct access from the mall parking area.

Owned by Cafaro Company, the recently renovated Ohio Valley Mall is located on I-70, Exit 218-Mall Road, in St. Clairsville, Ohio.

DSW to open at Pembroke Mall

Virginia Beach, Va. -- DSW Shoe Warehouse will open a new store at Pembroke Mall in Virginia Beach, Virginia. The retailer will be taking 15,040 sq. ft. of an existing Sears store.

The lease negotiations were handled on behalf of the tenant by Divaris Real Estate, Inc.

DSW will open fourth quarter 2015 and will be joined by Nordstrom Rack and REI in 2016.
Tuesday Morning to open at Paramus Place

Paramus, N.J. -- Tuesday Morning is set to join the tenant mix at Paramus Place in Paramus, New Jersey. The retailer has leased 15,000 sq. ft. of space at the 261,000-sq.-ft. shopping center, announced Levin Management, the property’s managing and leasing agent.

Paramus Place is anchored by Kohl’s, and also features Panera Bread, Annie Sez, Modell’s, Party City, Lane Bryant, A.C. Moore and Cuts for Kids.
Magnolia Marketplace opens in New Orleans

New Orleans - Magnolia Marketplace, a 106,000-sq.-ft. shopping center located in New Orleans’ Central City neighborhood, opened Friday, March 13. The project, overseen by JCH Development and Stirling Properties, was 100% pre-leased prior to the January 2014 groundbreaking.
Express to open 30 outlet stores in 2015; division exceeding expectations

New York -- Express is going full-steam ahead with its outlet-store strategy, with plans to open 30-plus stores in 2015. The retailer ended the year with 41 outlet stores in operation.

“Together they generated approximately $55 million of incremental revenue, far surpassing our initial estimate,” said Paul Dascoli, senior VP and CFO, Express, on the chain’s quarterly earnings call.
Fast-casual eatery Salata to open new headquarters, 20 stores

Houston – Salata, a custom salad and salad wrap restaurant eatery, will open a 26,000-sq.-ft corporate complex in West Houston. Construction on the facility began in January and completion is estimated for summer 2015.

The headquarters will house offices for the chain's corporate employees, a training restaurant for franchisees and managers and a production facility. It will also feature a 2,500-sq.-ft. restaurant open to the public during regular lunch hours, which will also serve as a test kitchen and training restaurant.
Sears Canada leases back three stores

Toronto - Sears Canada Inc. has entered into a definitive agreement with Concord Pacific Group of Companies to sell and lease back three of its properties for $140 million. The after-tax proceeds, including adjustments, will be approximately $130 million.

The locations include store space and adjacent property located at the Metropolis at Metrotown in Burnaby, British Columbia, Cottonwood Mall in Chilliwack, British Columbia and North Hill Shopping Centre in Calgary, Alberta. The transaction is scheduled to close on or about June 8, 2015.
REI opens at Mansell Crossing

Alpharetta, Ga. -- Brixmor Property Group announced the opening of a 24,000-sq.-ft. REI at Mansell Crossing in Alpharetta, Georgia. This is the fifth Atlanta-area location for the national outdoor retailer.
Sheetz to open 30 units in 2015 as convenience store channel continues to expand

Alexandria, Va. -- The ranks of the nation’s convenience stores continue to grow, increasing to 152,794 stores at year end, up nearly 1% from the year prior, according to the 2015 NACS/Nielsen Convenience Industry Store Count. And 2015 is expected to be another busy year: Pennsylvania-based Sheetz plans to open 30 locations in 2015. The chain, which recently opened its 500th location, has said it now sees the potential to double in size.