Content about Real Estate

May 22, 2013

The International Council of Shopping Centers' annual RECon real estate convention in Las Vegas is now officially a wrap. CSA columnist Jeff Green reflects on this year's show.

“One of the strange ironies of the 2013 convention is that — despite more bookings, a sold-out convention and more activity than we’ve seen in years — the convention doesn’t feel as busy as it has in years past. I suspect this is largely because three of the biggest names in the industry, Macerich, Simon, and Westfield, don’t have booths at the convention center this year. Make no mistake, they are still here in Vegas — they have just moved over to Caesar’s Palace.

May 21, 2013

Footwear/accessories retailer DSW Inc. opened a new store in Braintree, Mass., on May 18.

Columbus, Ohio – Footwear/accessories retailer DSW Inc. opened a new store in Braintree, Mass., on May 18. The new store is located at 250 Granite Street.

DSW currently operates 377 stores in 42 states, the District of Columbia and Puerto Rico.

 

May 21, 2013

Family Dollar presented its annual Strategic IT Partner of the Year award to Trade Area Systems at its IT Strategic Partner.

Matthews, N.C. – Family Dollar presented its annual Strategic IT Partner of the Year award to Trade Area Systems at its IT Strategic Partner last month. In September 2012, Family Dollar implemented the Trade Area Systems TAS Unity solution to give real estate managers mobile access to a database of real estate photos, comments and other relevant data.

May 21, 2013

Real estate development firm Kemper Freeman is moving ahead with a $1.2 billion expansion of The Bellevue Collection, a regional shopping center located in Bellevue, Wash.

Bellevue, Wash. – Real estate development firm Kemper Freeman is moving ahead with a $1.2 billion expansion of The Bellevue Collection, a regional shopping center located in Bellevue, Wash. The expansion will add two million sq. ft. of retail, office, hotel, residential, dining and entertainment space.

May 20, 2013

Macy’s plans to close a store located in downtown St. Louis at the Railway Exchange Building on Olive Street, with a final clearance sale beginning Sunday, June 2 that is expected to last about 10 weeks.

Cincinnatti -- Macy’s plans to close a store located in downtown St. Louis at the Railway Exchange Building on Olive Street, with a final clearance sale beginning Sunday, June 2 that is expected to last about 10 weeks. Macy’s plans to continue operating its other eight stores in the Greater St. Louis area.

May 20, 2013

Shopping malls continue to be popular with consumers because they offer hands-on shopping experience, according to results of a new survey from Glimcher Retail Monitor.

COLUMBUS, Ohio — Shopping malls continue to be popular with consumers because they offer hands-on shopping experience, according to results of a new survey from Glimcher Retail Monitor. Consumers cite reasons such as ability to try on clothes and accessories (74%), the shopping experience (55%) and store variety (49%) for going to the mall.

May 20, 2013

Starbucks subsidiary Seattle’s Best Coffee opened 10 new drive-through windows at restaurants throughout the Dallas/Fort Worth area.

SEATTLE — Starbucks subsidiary Seattle’s Best Coffee opened 10 new drive-through windows at restaurants throughout the Dallas/Fort Worth area.

Items available for drive-through purchase include 12 combo specials priced $5 or less.

May 20, 2013

Fast food hamburger chain Smashburger plans to more than double its nationwide store count to about 500 in the next few years. The chain currently runs about 200 locations across the US.

Denver -- Fast food hamburger chain Smashburger plans to more than double its nationwide store count to about 500 in the next few years. The chain currently runs about 200 locations across the U.S.

According to public comments from Smashburger chariman and CEO Dave Prokupek, the chain may also launch a U.S. IPO at some point in the future. “The idea of good food fast isn’t going to go away anytime soon,” said Prokupek.

 

May 17, 2013

Bloomingdale’s plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu in fall 2015.

New York -- Bloomingdale’s plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu in fall 2015. It will be the retailer’s first location in the state of Hawaii.

The new store will be part of a redevelopment of a portion of Ala Moana, by GeneralGrowth Properties. Construction will begin in 2014. The upscale chain of department stores, owned by Macy’s, will join a Macy’s store which already operates at the shopping center.

May 17, 2013

New York -- Brixmor Property Group has appointed Michael V. Pappagallo as president and CFO, effective May 20.

Pappagallo will play an integral role in the execution of Brixmor's long-term business and capital markets strategy.  In addition, he will lead the company's finance and accounting teams, as well as have functional oversight of its property operations, information technology, acquisitions/dispositions and investor relations efforts.

May 17, 2013

Gourmet cupcake bakery Cupcake Charlie’s will celebrate the opening of its fourth location on May 18, at Patriot Place in Foxborough, Mass.

Foxborough, Mass. -- Gourmet cupcake bakery Cupcake Charlie’s will celebrate the opening of its fourth location on May 18, at Patriot Place in Foxborough, Mass.

The growing business also has locations in Mashpee, Plymouth and Newport, R.I.
 

 

May 17, 2013

Douglas Development said that specialty candy store IT’SUGAR will join soft-serve yogurt shop FrozenYo and bar concept Jackpot Tavern in Chinatown, across from the Verizon Center and Gallery Place Metro Station, in Washington, D.C.

Washington, D.C. -- Douglas Development said that specialty candy store IT’SUGAR will join soft-serve yogurt shop FrozenYo and bar concept Jackpot Tavern in Chinatown, across from the Verizon Center and Gallery Place Metro Station, in Washington, D.C.

May 17, 2013

General Growth Properties said that its Oakbrook Center property in Chicago has welcomed Fixtures Living, an experiential showroom concept based in San Diego.

Chicago -- General Growth Properties said that its Oakbrook Center property in Chicago has welcomed Fixtures Living, an experiential showroom concept based in San Diego.

The Oakbrook Center store is the company’s first outside of California. It is slated to open in spring 2014 and will be Fixtures Living's fifth overall and the second one situated within a luxury retail center – the other being Glendale (Calif.) Galleria.

May 17, 2013

Marcus & Millichap Real Estate Investment Services has promoted Gabriel A. Britti to associate VP investments.

Miami -- Marcus & Millichap Real Estate Investment Services has promoted Gabriel A. Britti to associate VP investments.

Most recently, Britti was a senior associate. He is also an associate director of the firm’s National Retail Group.

 

May 17, 2013

Longmont, Colo. -- NewMark Merrill Mountain States named three new anchors for the redeveloped Twin Peaks Mall: Whole Foods Market, Regal Cinemas and Sam’s Club.

The project, which is slated to open in 2014, also unveiled its new name – Village at the Peaks.

May 17, 2013

Tex-Mex family restaurant operator Uncle Julio’s will join Plymouth Meeting Mall in late 2013, according to mall owner Pennsylvania Real Estate Investment Trust (PREIT), based in Philadelphia.

Philadelphia -- Tex-Mex family restaurant operator Uncle Julio’s will join Plymouth Meeting Mall in late 2013, according to mall owner Pennsylvania Real Estate Investment Trust (PREIT), based in Philadelphia.

The 9,300-sq.-ft. location will be the first in Pennsylvania, and marks the completion of The Plaza Shops extension, which is anchored by Whole Foods and includes Massage Envy, Coldwater Creek, Loft, Chico’s, Olly Shoes, Orvis, and Jos. A. Bank.

May 17, 2013

Tex-Mex family restaurant operator Uncle Julio’s will join Plymouth Meeting Mall in late 2013, according to mall owner Pennsylvania Real Estate Investment Trust (PREIT), based in Philadelphia.

Philadelphia -- Tex-Mex family restaurant operator Uncle Julio’s will join Plymouth Meeting Mall in late 2013, according to mall owner Pennsylvania Real Estate Investment Trust (PREIT), based in Philadelphia.

The 9,300-sq.-ft. location will be the first in Pennsylvania, and marks the completion of The Plaza Shops extension, which is anchored by Whole Foods and includes Massage Envy, Coldwater Creek, Loft, Chico’s, Olly Shoes, Orvis, and Jos. A. Bank.

May 17, 2013

Wegmans is pushing back the scheduled opening of a new store in Newton, Mass., until spring 2014.

New York – Wegmans is pushing back the scheduled opening of a new store in Newton, Mass., until spring 2014. The grocery retailer is citing construction delays and demands of other projects, such as the upcoming grand opening of a replacement store in Rochester, N.Y., this Sunday, for causing the later opening of the new suburban Boston location.

Wegmans currently operates one store in Massachusetts, a 138,000-sq.-ft. facility in the town of Northborough.

 

May 16, 2013

DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.

Beachwood, Ohio -- DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.  The acquisition is slated to close in fourth quarter 2013.
 
The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR will acquire Blackstone's 95% common equity ownership interest in 30 of the shopping centers for $1.46 billion.

May 16, 2013

Following on the heels of successful outlet projects in Atlanta and Oklahoma City, CBL & Associates Properties and Horizon Group Properties announced another joint venture – to co-develop The Outlet Shoppes at Louisville, in Simpsonville, Ky.

Simpsonville, Ky. -- Following on the heels of successful outlet projects in Atlanta and Oklahoma City, CBL & Associates Properties and Horizon Group Properties announced another joint venture – to co-develop The Outlet Shoppes at Louisville, in Simpsonville, Ky.

May 16, 2013

Following on the heels of successful outlet projects in Atlanta and Oklahoma City, CBL & Associates Properties and Horizon Group Properties announced another joint venture – to co-develop The Outlet Shoppes at Louisville, in Simpsonville, Ky.

Simpsonville, Ky. -- Following on the heels of successful outlet projects in Atlanta and Oklahoma City, CBL & Associates Properties and Horizon Group Properties announced another joint venture – to co-develop The Outlet Shoppes at Louisville, in Simpsonville, Ky.

May 15, 2013

Mall of America, the nation's largest retail and entertainment destination, has unveiled a new logo and tagline.

Bloomington, Minn. -- Mall of America, the nation's largest retail and entertainment destination, has unveiled a new logo and tagline.  

May 15, 2013

The administration of Massachusetts Gov. Deval Patrick has agreed to allow the construction of a 4.5-acre complex called Fenway Center in the area around Fenway Park in the city’s Back Bay neighborhood.

Boston -- The administration of Massachusetts Gov. Deval Patrick has agreed to allow the construction of a 4.5-acre complex called Fenway Center in the area around Fenway Park in the city’s Back Bay neighborhood. Developer John Rosenthal will pay $226 million in rental fees to build the development, which will include retail stores as well as homes and office buildings.

The development includes state-owned land as well as air rights over the Massachusetts Turnpike.

 

May 14, 2013

Electronics retailer Hhgregg is opening a new store location at the Dayton Mall in Dayton, Ohio, on May 16.

Indianapolis – Electronics retailer Hhgregg is opening a new store location at the Dayton Mall in Dayton, Ohio, on May 16. The new 23,000-sq.-ft. store will replace a previous location in West Carrollton, Ohio.

“Hhgregg is dedicated to the Dayton community and we think local residents will really enjoy shopping at our new and modern store,” said Jeff Pearson, senior VP of marketing, Hhgregg.

 

May 14, 2013

CBRE Group released research findings on Tuesday that showed Hong Kong continued to keep its top spot as the world's most expensive global retail market, recording prime rents nearly 150% higher than New York City.

Los Angeles -- CBRE Group released research findings on Tuesday that showed Hong Kong continued to keep its top spot as the world's most expensive global retail market, recording prime rents nearly 150% higher than New York City.

London ranked third, with prime rental rates 400% lower than Hong Kong’s.