REAL ESTATE

Sears raising cash via rights offer and leasing deal with U.K. apparel retailer Primark
GBT Realty adds new retail tenants to two Louisville centers
Louisville, Ky. -- GBT Realty Corp., a national real estate development company based in Brentwood, Tenn., is expanding tenant lineups at two Louisville-based regional shopping centers totaling nearly 500,000-sq.-ft. to over 90% leased. Only a combined 23,500-sq.-ft. of retail space remains at Jefferson Commons and at Middletown Commons with the first tenants scheduled to be open in November. Construction is currently underway.

Store of the Week: The White Company, Norwich, United Kingdom
NGKF to lead retail leasing at Grand Central Terminal

New York -- Newmark Grubb Knight Frank’s retail team has been retained by the New York Metropolitan Transportation Authority to lead the leasing of Grand Central Terminal.
Saks to close store in Hackensack, N.J.

New York -- Saks Fifth Avenue announced that it plans to close its Saks Fifth Avenue store in the Shops at Riverside in Hackensack, N.J. The store is expected to close in late 2014. “Closing a location is never an easy business decision. At this time, we are committed to offering support and assistance to our team affected by the closing,” commented Marigay McKee, President of Saks Fifth Avenue.
DDR and Blackstone JV closes on $2 billion 71-center purchase

Beachwood, Ohio --DDR Corp. and an affiliate of Blackstone Real Estate Partners VII announced that a joint venture formed by the pair has closed on the acquisition of 71 shopping centers previously owned by American Realty Capital Properties for $1.93 billion.
Simon malls to offer Ziploop mobile shopping app

Indianapolis –- Simon malls will feature the Ziploop mobile shopping app during the 2014 holiday season. The app stores paper, cards, coupons and certificates and stores them on a mobile device, tablet or desktop.
The White Company debuts stylish new store concept

London -- The White Company is showing off a new store concept that delivers a lifestyle-led experience modeled on a journey through the home. The 4,000 sq.ft. store, in Norwich (United Kingdom), builds on the British home goods retailer’s heritage to create an aspirational, curated retail experience. A feeling of accessible luxury permeates the welcoming space.
Savills Studley promotes Stephen G. Berliner to executive VP, New York tri-state region

New York, N.Y. -- Savills Studley, a global commercial real estate services firm specializing in tenant representation, announced the promotion of Stephen G. Berliner executive VP & branch sanager, New York Office to executive VP, New York Tri-State Region.
The Fresh Market opens at The Village at Livingston

Livingston, N.J. -- The Fresh Market celebrated its official opening at The Village At Livingston with “cracking the parmesan,” a centuries-old art and company tradition. The store, which occupies 23,000 sq.ft at the 93,000-sq.-ft. shopping center managed and developed by Eastman Companies, marks the upscale specialty grocer’s third location in New Jersey.