REAL ESTATE

Simon’s Shisui Premium Outlets expands by 62 stores
Indianapolis - In partnership with Mitsubishi Estate Co. Ltd., Simon has opened the expansion of the Shisui Premium Outlets located outside Tokyo. Shisui Premium Outlets initially opened in April 2013.

This first phase of the project opened 100% leased with 121 stores featuring a mix of international brands, Japanese brands and restaurants. The second phase, opening April 17, adds 62 new stores, including four restaurants, bringing the total store count to 183. The expansion adds 136,000-sq.-ft. of stores, bringing the total project to 375,000-sq.-ft.
And the strongest housing markets are…
New York -- Retailers with stores in Denver, San Antonio, Nashville, Fort Lauderdale and Dallas might see some strong sales in the months ahead based on a new report, which identifies those cities as the nation’s hottest housing market.

H&M to open new Texas store at Uptown Village at Cedar Hill

Stockholm, Sweden - H&M will open at Uptown Village, Cedar Hill, Texas. Measuring approximately 21,000-sq.-ft., the store is set to open in the fall of 2015 and will add to fast-fashion chain’s 14 current locations in the state of Texas.
Inland American Real Estate Trust is now InvenTrust Properties Corp.

Oak Brook, Ill. - Inland American Real Estate Trust Inc. has changed its name to InvenTrust Properties Corp., effective immediately. The company’s new website address is Inventrustproperties.com.
BFC Properties breaks ground on Staten Island’s Empire Outlets

New York - BFC Partners has broken ground on Empire Outlets, a 340,000-sq.-ft. retail complex that will create more than 1,800 jobs and bring $285 million in private investment to the New York City borough of Staten Island.
PREIT and Macerich seek to redevelop, rebrand The Gallery in Philadelphia

Philadelphia -- Pennsylvania Real Estate Investment Trust and The Macerich Company announced that they have reached a tentative agreement with the City of Philadelphia on a redevelopment and re-branding of the Gallery shopping mall and transit center in the heart of Center City.
New Balance Experience Store opens in Philadelphia

Center City, Pa. -- X Team International, an international alliance of retail real estate advisors, announced that partner MSC Retail has completed a lease transaction with New Balance Experience Store at 1615 Walnut Street in Center City.

The new 2,200-sq.-ft. ground-floor retail space is located on Philadelphia’s leading high street, and will sit alongside The Apple Store, Urban Outfitters and Free People. It opened on April 1.
Moviehouse & Eatery to build 10-screen movie theater at Craig Ranch

McKinney, Texas -- CBRE | UCR announced that Moviehouse & Eatery has purchased 6.78 acres of land at Craig Ranch in McKinney, Texas. The land is located at the northeast quadrant of Custer Road and Highway 121.

Moviehouse will build a 40,000-sq.-ft., 10-screen movie theater to open in May 2016. This will be the theater’s third location in DFW.
Firehouse Subs to open four new Dallas-Fort Worth restaurants

Dallas -- The Woodmont Co. represented Firehouse Subs in the food chain’s continued expansion in the Dallas-Fort Worth area. The fast-casual restaurant chain retained Woodmont to identify four strategic locations which have now been secured. The spaces range in size from 1,800 sq. ft. to 2,025 sq. ft., and the first of the four new restaurants opened in late January 2015, with the remainder opening as early as April 2015.

Grant Gary and Joseph Williams of The Woodmont Co. represented Firehouse Subs in all four transactions.
Stirling Properties expands asset management team

Covington, La. -- Stirling Properties has added two people to its growing Asset Management division. Charles Barclay joined Stirling Properties as Assistant Asset Manager on a variety of retail and office properties in the Greater New Orleans area.

Barclay’s office is in the company’s corporate headquarters in Covington. Before moving to New Orleans, he worked for CW Capital Asset Management in Bethesda, Maryland.