REBusinessOnline

Retail

dd’s DISCOUNTS to Debut 200th Store in June

MANTECA, CALIF. — dd's DISCOUNTS, a division of Ross Stores Inc. will open its 200th store in Manteca, Calif., on June 24. The 18,000-square-foot Northern California store is located in the Stadium Center at Highway 120 and Airport Way. The new location will increase the store count to 84 in California. Together, Ross Dress for Less and dd's DISCOUNTS currently operate approximately 1,560 off-price apparel and home fashion stores in 37 states, the District of Columbia and Guam.

June 20, 2017

Dave & Buster’s to Open First Location in Utah in 2018

SALT LAKE CITY — Next spring, Dave & Buster’s will open its first Utah location at The Gateway in downtown Salt Lake City. In addition to its $100 million redevelopment plan, The Gateway and its parent company, Vestar, were looking for a big name, family-friendly venue to anchor its rebranding effort. With restaurants in 34 states and internationally, Dave & Buster’s offers a combination of entertainment and dining, offering its customers the opportunity to “eat, drink, play..

June 20, 2017

Mid-America Brokers Sale of 187,068 SF Shopping Center in Cedar Rapids, Iowa

CEDAR RAPIDS, IOWA — Mid-America Real Estate Corp. has brokered the sale of Northland Square in Cedar Rapids. The sales price was not disclosed. Built in 1994, the 187,068-square-foot shopping center is located at the southeast corner of Collins Road and C Avenue. Kohls and TJ Maxx anchor the center. Other tenants include Barnes & Noble, Office Max, Old Navy, Famous Footwear and Hallmark. Joe Girardi and Ben Wineman of Mid-America brokered the transaction on behalf of the seller, a public..

June 20, 2017

Hunington Brokers Sale of 26,721 SF Retail Center in Houston

HOUSTON — Hunington Properties Inc. has brokered the sale of Shops at Cinco Rancho West, a 26,721-square-foot retail center located on the SEC Cinco Ranch Boulevard at FM 1463 in Houston. Rafael Melara of Hunington represented the seller, a local investor and procured the buyer, a Massachusetts-based family trust. Both parties requested confidentiality.

June 20, 2017

Lease Restructuring Increasingly Common in Today’s Retail Market, Says Gordon Brothers’ Mark Dufton

LAS VEGAS — As a specialist in lease mitigation and restructuring for retailers who are closing or relocating their stores, Gordon Brothers’ CEO of Real Estate Mark Dufton has represented dozens of retailers in the market for new or smaller spaces. In his 25-plus years in the business, Dufton has mitigated or restructured more than 1,500 leases, saving his clients more than $100 million. Northeast Real Estate Business sat down with Dufton of Boston-based Gordon Brothers during the..

June 20, 2017

Finmarc Management Acquires 117,000 SF Shopping Center in Northern Virginia for $20M

MANASSAS, VA. — Finmarc Management Inc. has purchased Festival at Manassas, a 117,000-square-foot shopping center located at 10280-10388 Festival Lane in Manassas, from Katz Properties for $20 million. Bill Kent of CBRE represented Bethesda, Md.-based Finmarc Management in the transaction. The Global Food-anchored center was 97 percent leased at the time of sale. Potbelly Sandwich Works, CiCi’s Pizza, 360 Buffet, Nutritional Wellness Center and Furniture House are among the center’s other..

June 19, 2017

Skanska USA to Build $113M Recreation Center at Boston College

BOSTON — Boston College has awarded Skanska USA a $113 million contract to provide construction services for a 244,000-square-foot recreation center at the university. Designed by Cannon Design, the four-story facility will feature a fitness center, jogging track, natatorium with lap and instructional pools, four wood-floor basketball courts, three tennis courts, two multi-activity courts and multi-purpose rooms for spin, yoga and fitness classes. Slated for completion in summer 2019, the..

June 19, 2017

Baum Arranges $2.3M Sale of Retail Building in Orland Park, Illinois

ORLAND PARK, ILL. — Baum Realty Group LLC has arranged the sale of a two-tenant retail building in Orland Park for $2.3 million. The property is located at 24 Orland Square Drive. Blaze Pizza and Pearle Vision occupy the property. Patrick Forkin, Brad Teitelbaum and Graham Gold of Baum represented the seller, a local development group. A private West Coast investor was the buyer.

June 19, 2017

Cullinan Properties to Develop 7,680 SF Retail Building at The Levee District in East Peoria, Illinois

EAST PEORIA, ILL. — Cullinan Properties is developing a 7,680-square-foot retail building at The Levee District in East Peoria. The multi-tenant building, currently under construction in central Illinois, will be located at 4015 Spinder Drive between Panda Express and McDonald’s. T-Mobile will open at the building this fall, with additional tenants to be announced. Anchored by Target, The Levee District is over 90 percent occupied by tenants including Ross, Ulta, Tequila’s Mexican..

June 19, 2017

Walmart Agrees to Acquire Apparel Retailer Bonobos for $310M

BENTONVILLE, ARK., AND NEW YORK CITY — Walmart (NYSE: WMT) has agreed to acquire online apparel retailer Bonobos Inc. for approximately $310 million in cash. Walmart, the giant discount department store chain, expects to complete the transaction by September. The announcement comes on the heels of Walmart’s acquisition of online women’s apparel retailer ModCloth in March. Founded in 2007 by Andy Dunn and Brian Spaly, New York-based Bonobos designs and sells its own brands of..

June 19, 2017