REAL ESTATE

Bids to assume the leases of 120-plus Hastings Entertainment stores will not be accepted after Sept. 15, announced RCS Real Estate Advisors.   The chain’s inventory was earlier purchased by Hilco Merchant Resources and Gordon Bros. Retail Partners after the music, movie, and video game chain was unable to emerge from Chapter 11. Hastings Entertainment was founded in 1972 by Sam Marmaduke, who as head of Western Merchandisers first convinced Walmart to carry music and continued to supply the chain until 1994.  

Department store retailer Belk is giving its Crown & Ivy private-label brand its very own freestanding location.    The brand, which Belk launched in in 2014, will open a store at Crabtree Valley Mall, Raleigh, North Carolina, according to a report by the Charlotte Observer.    Crown & Ivy offers preppy-styled apparel for women. 

The Body Shop is staking a new claim in South American as it opens its first location in Chile.    Lured by a population of 17.8 million, and a stable and prosperous customer base, The Body Shop’s new store is located in Santiago, Plaza Egaña Mall — a property that is called the most sustainable mall in Chile.  

Ikea is giving new meaning to do-it-yourself retailing.   The home furnishings giant will open a pop-up DIY restaurant in the Shoreditch section of London where patrons will build their own meals, serving as the chef and preparing food for their group.    

Gander Mountain is making its first foray into the Philadelphia area.   The retailer will open a 52,700-sq.-ft. store at the Warrington Crossing development in Warrington, Pa., on Sept. 8. It will be the 12th Gander Mountain location in Pennsylvania.      

The story of Hy’s Toggery has been in the making for nearly half a century. What began in 1969 as a move by company founder Hy Wakstein to establish his own high-end menswear operation after 20-plus years in the industry would ultimately become a brand that has matured into one of the most respected independent clothiers in the southeast.  

Aeropostale may still live to see another day thanks to a last-minute bid.   In a development that no one saw coming, a consortium of landlords, liquidators and others joined together to make a $243.3 million offer to save 229 Aeropostale stores, Fortune reported. The group includes General Group Properties, Simon Property Group, Gordon Brothers Retail Partners, Hilco Merchant Resources, and Authentic Brands Group.  

Lowe’s Foods rang in retail this week at Morganton Park South in Southern Pines, North Carolina, opening a 50,000-sq.-ft. anchor store in the center that is part of the 188-acre Morganton Park master-planned community.   Lowe’s, which recently executed a re-branding, is a fixture in North Carolina, where it has done business since 1954. Its neighbors in the center are still to be determined. Leasing agent Lincoln Harris reports that most of the 21,000 remaining square feet in the center remains available.