REAL ESTATE

Retailer in store expansion push
Not all retailers are reducing their store portfolios. DSW Inc. announced it will open 21 stores nationwide between August and October. The footwear and accessories retailer currently operates 482 stores in 42 states. "New store growth is an important and exciting piece of the DSW formula,” said Valara Gee, VP of stores, DSW.
Forest City to consider disposing of retail assets
Forest City Realty Trust may be on its way to having a greatly reduced investment in the mall industry and a bigger one in apartments and office assets. The Cleveland-based firm announced it is reviewing strategic alternatives for its retail portfolio. Forest City holds ownership stakes in 14 regional malls across the country and 19 specialty retail centers, mostly in New York City. The East River Plaza, which fronts the FDR Drive in Manhattan at 116th Street, is a Forest City property.

Sears moves to elevate apparel offerings with fashion-forward, in-store concept

Sears is piloting a concept that could breathe new life into its apparel offerings.
Report: Amazon planning to open drive-up grocery store

The world’s biggest online retailer is planning to open a drive-up grocery store in its hometown. At least that’s according to a report by GeekWire, which said Amazon plans to renovate a site in Seattle’s Ballard neighborhood into a 9,759-sq.-ft. retail space where shoppers can pick up groceries that they ordered online.
Now Trending: Augmented retail-ity
Dollar General expands into North Dakota

Dollar General is moving into North Dakota, announcing that it has begun construction on five new stores in the state. This gives the discount retailer a footprint in 44 states after having established operations in Maine, Oregon, and Rhode Island in 2015. The initial North Dakota locations will be in Ellendale, Gwinner, Hankinson, Hillsboro, and Oakes. They’re being built in the chain’s standard 9,100-sq.-ft. format.
More stores, more sales for Ace Hardware

Boosted by store growth and crisp sales of outdoor living, paint and lawn and garden, Ace Hardware Corporation Tuesday reported second quarter 2016 revenues of $1.4 billion, an i
MOD Pizza mobs Houston

It’s the pizza chain on the rise in the U.S. and in Houston, too, apparently. MOD Pizza will open 11 new locations in H-town this year, bringing its total in the metro to 15, according to Transwestern, which served as the leasing agent. The fast-casual chain is well on its way to 200 locations, with for 50 new shops in 2016. MOD Pizza’s $65 million in sales represented a 21% increase in 2015, making it the fastest-growing new food chain in the U.S., according to Nation’s Restaurant News.
CBRE makes two key Midwest hires

Two long-tenured retail real estate veterans have joined CBRE Group’s retail services teams in key Ohio markets. New to CBRE’s Cincinnati office is Melissa Ruther, whose 15-year career has included stints in both leasing and tenant representation at Anchor Associates, Edge Real Estate Group, and most recently JLL. A CBRE press release made note of her strong relationships with retailers, developers, and the brokerage community.
Market Profile: Detroit’s new model is revved and ready to roll

To understand the current state of the Detroit real estate market, and to appreciate how and why Detroit is such a hot market today, we have to look to the past. Historical context is crucial here because, more than most cities, the story of Detroit is the story of a city shaped by its past. In many cases, the building blocks of today’s development boom are being literally and figuratively laid across foundations that were laid years ago.