REAL ESTATE

Seattle -- Nordstrom plans to open a Nordstrom Rack at University Crossing in Orem, Utah.

The approximately 30,000-sq.-ft. store is scheduled to open in spring 2015. University Crossing is owned and managed by University Crossing Shopping Center.

Columbus, Ohio — First Interstate Properties has named Steiner + Associates as the exclusive retail leasing agent for its 610,000-sq.-ft. mixed-use Legacy Village in Lyndhurst, Ohio.

The recent announcement from Coldwater Creek that the women’s apparel brand will seek Chapter 11 protection and plans to start liquidating its inventory didn’t exactly come as a surprise. It has been years since the company posted a quarterly profit, and industry analysts and observers have been pointing to Coldwater’s worrying inability to compete stylistically in an increasingly competitive and youth-oriented women’s fashion market.

Atlanta — JLL has announced the closing of the sale of Market Square at Montrose on behalf of LaSalle Investment Management to HP Realty LLC. Purchased for $32.5 million, the 510,231-sq.-ft. retail center hosts anchors Home Depot, J.C. Penney, Levin Furniture, Dick’s Sporting Goods, Regal Cinemas, Toys “R” Us and Cost Plus World Market.

“Akron and similar cities are back in favor with investors,” commented Kris Cooper, a JLL managing director.

Austin, Texas - RetailMeNot, Inc. has reached a strategic partnership agreement with General Growth Properties Inc. (GGP), a real estate investment trust focused exclusively on owning, managing, leasing and developing retail properties throughout the U.S. RetailMeNot will be the preferred digital coupon provider across GGP malls.

New York -- Sunglass Hut has debuted a new retail brand, Shaded, in the form of a freestanding, open-air kiosk. Targeted at Millenials, the format puts an emphasis on interactivity, with a built-it photo booth that allows for on-the-spot photo taking and photo sharing. (See photos here.)

New York — Vornado Realty Trust plans to spin off nearly 16.1 million sq. ft. of shopping center assets into a new publicly traded REIT by the end of 2014, leaving the company with a largely office-centric portfolio, according to SNL Real Estate.

The move will simplify Vornado’s investment strategy and enable the company to focus on the ownership of office assets in the Washington, D.C., and New York City regions, including the high-value Manhattan office over retail assets.

Sierra Vista, Ariz. — The Realm Salon, an approved Aveda Salon, is opening a new 1,500-sq.-ft. full-service salon in Indian Hills Plaza in Sierra Vista, Ariz. The new salon plans to open by June 1.

First West Properties Corporation represented the tenant in the transaction. Commercial Retail Advisors represented the landlord, Indian Hills Investors.