REAL ESTATE

CBL & Associates Properties names former Target exec to board
Chattanooga, Tenn. -- CBL & Associates Properties, Inc. announced the appointment of John Griffith to its board of directors. Griffith fills the unexpired term of Tom DeRosa, resulting from his retirement from CBL's board effective Jan. 7.

Griffith served as executive VP of property development for Target Corporation until his retirement in May 2014. He joined Target in 1999, and played an instrumental role in its expansion and the development of new store prototypes and formats.
Marshalls to open at Mansfield Commons
Hackettstown, N.J. -- Marshalls has leased 21,675 sq. ft. at Mansfield Commons in Hackettstown, New Jersey, according to center owner National Realty & Development Corp., Purchase, New York.

The 271,980-sq.-ft. Mansfield Commons is anchored by Walmart and Kohl’s, and is located on Route 57.

Pure Barre to open three New Jersey locations

New York -- Dance-related fitness franchise Pure Barre will expand its base of 275 current locations by opening new spaces in three New Jersey markets — Denville, Short Hills and New Providence.

Winick Realty Group’s Gary Krauss is the exclusive broker representing Pure Barre in Northern New Jersey and he negotiated each of the three leases on behalf of the brand.
Study: Retail mall vacancies rise in Q4

New York – Retail mall vacancies slightly rose in the fourth quarter of 2014, from 7.9% in the prior quarter to 8%. According to real estate research firm Reis Inc., the closure of 200-plus Sears stores during the year drove the increase, the first recorded since the third quarter of 2011.
Ambassador Town Center to launch construction, development over 90% leased

Lafayette, La. -- Ambassador Town Center, a joint venture between Stirling Properties and CBL and Associates Properties, will launch construction this month in Lafayette, Louisiana, on a 58-acre site at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road.
TPG & PAG consortium completes acquisition of Cassidy Turley

Chicago -- Commercial real estate services firm DTZ announced that Cassidy Turley and DTZ are now operating as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.
Report: Brazil’s Track & Field to open 10 U.S. stores in 2015

New York -- Brazilian athletic wear retailer Track & Field has opened its second U.S. store, in Brentwood, California. The retailer operates 122 stores in Brazil and opened its first U.S. store, in New York, approximately four years ago. It plans to open about 10 new stores in the United States in 2015 as part of its next phase of growth, according to Women’s Wear Daily.
Nordstrom Rack to open in Lafayette, Louisiana, in 2016

Seattle -- Nordstrom plans to open a Nordstrom Rack at Ambassador Town Center in Lafayette, Louisiana.

The 25,000-sq.-ft. store is scheduled to open in spring 2016. The more than 425,000-sq.-ft. Ambassador Town Center is a joint development of Stirling Properties and CBL & Associates Properties.
Sonic targets upstate New York

Oklahoma City – Fast food chain Sonic is heading upstate. Sonic has signed a new agreement for franchise development of eight new drive-ins in the Albany, New York area during the next seven years, with the first restaurant opening in Latham this spring.
Construction trends include increase in retail, restaurant ground-up projects

CHICAGO - Top commercial construction trends for 2015 include an increase in retail and restaurant ground-up construction and a rise in shopping mall renovations, according to national general construction firm Englewood Construction.