REAL ESTATE

Smart retailers can succeed in a tight real estate market with limited capital

Even as the economy continues on a path of slow improvement, brick-and-mortar retailers still find themselves in a real estate market with few vacancies and even fewer new malls under construction. In addition, corporate management remains reluctant to expend any more capital than it feels is absolutely necessary to meet immediate needs.

Mid-America celebrates 30 years in the retail real estate information business

Mike George likes to say that his company is in the retail real estate information business. “Our clients buy, sell and lease retail real estate,” said George, principal and president of Oakbrook Terrace, Ill.- based Mid-America Real Estate Group. “Clients that buy and sell real estate rely on us for information that helps them make the best business decisions. When clients hire us to manage and lease shopping centers, they want our information-based decisions.”

Kansas City, Kansas — Legends Outlets Kansas City — in Kansas City, Kansas — has announced the addition of three new tenants: Woody’s Automotive, Nail Envy and Bath & Body Works. Each plans to open in this spring.

Woody’s Automotive, a used car concept, will open on May 8 in a 507-sq.-ft. space next to Panera Bread.

Nail Envy, plans to open May 14 in the adjoining shopping center across from Yard House. The salon and spa will occupy a 3,000-sq.-ft. space next to Payless ShoeSource.

Columbus, Ohio — State Street Capital Realty, an independent brokerage of Casto, has announced its recent listing for the retail portion of The View on Fifth in the Grandview area of Columbus, Ohio.

Under development by JSDI Celmark, Ltd., The View on Fifth is a mixed-use six-story project that will include 25,000 sq. ft. of retail shops and restaurants, a freestanding six-story parking garage and 285 luxury apartment residences — with one-to-four bedrooms.

New York — Vanguard Wine Bar has signed a 12-year lease for a 1,000-sq.-ft. ground-floor space at 189 Amsterdam Avenue between 68th and 69th Streets in New York City’s Upper West Side. It will be Vanguard’s second Manhattan location.

RKF represented both the tenant and the landlord, Ogden CAP Properties, in the transaction.

St. Louis - Build-A-Bear Workshop has reached an agreement with Horizon Toy Company of Turkey as a new international franchisee. The first Build-A-Bear Workshop store in Turkey is expected to open in Mall of Istanbul in June 2014.

With the store opening in Turkey, Build-A-Bear Workshop will now operate in 15 countries through franchisees. Those countries include Australia, Bahrain, Denmark, Germany, Japan, Kuwait, Mexico, Norway, Oman, Singapore, South Africa, Sweden, Thailand and United Arab Emirates.

Northbrook, Ill. — Pine Tree Commercial Realty has named Erin Bremen VP of acquisitions and due diligence. Bremen will oversee underwriting and due diligence for new acquisitions.

Phoenix — Vestar has appointed Clint Marchuk VP of acquisitions. His responsibilities include identifying, evaluating and carrying out shopping center acquisitions in Arizona, Utah, Colorado, New Mexico and Texas.