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REAL ESTATE

  • Wayfair expands lease for planned Boston headquarters expansion

    Boston -- Online retailer Wayfair has added 170,000 sq. ft. to its lease with Simon Property Group at The Offices at Copley Place in Boston's Back Bay neighborhood. In anticipation of a June 2014 relocation, the additional space brings Wayfair's new office space to a total footprint of 275,000 sq. ft.

  • New spring, summer leases at Glendale Galleria

    Glendale, Calif. — Throughout the spring and summer, Glendale Galleria will open nine new stores and eateries including Armani Jeans, Blaze Pizza, Brighton Collectibles, Chipotle, Coach, Earthbar, Lolli & Pops and Zumiez.

    They will join La Baugette, another newcomer, which opened its Glendale Galleria location back in February.

  • Michigan Rising?

    Speaking with Ron Goldstone, senior VP at Southfield, Mich.-based Farbman Group really got my juices flowing about the Midwest retail real estate marketplace — Michigan in particular. The state’s retail real estate market is an interesting candidate for closer study, simply because the Detroit dynamic, even in its extremes, gives us a valuable perspective on the national landscape:

  • Divaris finalizes four new retail leases in Richmond metro

    Virginia Beach, Va. — Divaris Real Estate has announced four new retail leases in the greater Richmond area.

    Friendly Motors has leased 5,000 sq. ft. in the Divaris-leased and –managed Belt Trade Center.

    Zoe’s Kitchen has taken 2,800 sq. ft. in The Corner at Short Pump. DRE’s Richmond office represented the tenant in the negotiations.

  • Report: Gap plans China expansion

    San Francisco – Gap Inc. reportedly plans a substantial increase in its Gap and Old Navy store count in China during the next several years. Reuters reports that Gap plans to add 30 stores to its existing 81 Chinese locations.

  • A bigger Belk

    Charlotte, N.C. — Belk has announced a $12.6 million expansion and renovation of its store in Cool Springs Galleria, a 1.1 million-sq.-ft. mall in Franklin, Tenn., a suburb of Nashville. CBL & Associates Properties and TIAA-CREF own the center jointly.

    Belk plans to create a new fashion flagship store for the greater Nashville region.

  • Dunkin’ Donuts seeks Alabama franchise growth

    Canton, Mass. – Dunkin’ Donuts is recruiting franchisees in Dothan, Ala. Currently, there are 18 Dunkin’ Donuts restaurants located throughout Alabama. To help fuel growth in Dothan, special development incentives are available, which include reduced royalty fees for three years and up to $10,000 in local store marketing.  

  • Inland REIT acquires Park Avenue Center in Little Rock, Ark.

    Oak Brook, Ill. Inland Real Estate Income Trust has acquired the 69,381-sq.-ft. Park Avenue Shopping Center in Lille Rock, Ark., for $28.12 million. IREIT Business Manager & Advisor assisted Inland Real Estate Acquisitions in the transaction.

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