REAL ESTATE

Nordstrom Rack is coming to New Orleans.

Brookstone kicked off the new year by opening a store in one of the largest retail shopping centers in Nanjing, China. Additionally, the retailer opened three in-store shops in Funtalk Telecommunication's locations in Beijing and Shanghai.

After its initial entry into China, Brookstone will pursue a strategy to open up independent shops in airports and high-speed railway stations, according to Piau Phang Foo, global VP of the Sanpower Group and chairman of Brookstone. (The Sanpower Group, a multi-national conglomerate based in China, acquired Brookstone in 2014).

Chain Store Age’s annual SPECS conference is the must-attend event for retail and restaurant executives involved in the design, construction, and maintenance of stores. This year’s show — to be held March 13-15, 2016, at the Hilton Anatole, Dallas — is shaping up as one of the best ever, with presentations by Target, Under Armour and The Container Store to name but a few.

Cousins Subs, a regional sub sandwich retailer with more than 100 locations in Wisconsin and Arizona, knows that a bigger sandwich isn’t better unless it has the right ingredients.

Menomonee Falls, Wisconsin-based Cousins is taking the same approach to corporate growth that it takes to increasing the size of its sandwiches. Cousins is partnering with customer analytics platform provider Buxton to develop site selection strategies based on core customer insights. Buxton will also identify new real estate growth opportunities for Cousins Subs in the Midwest.

St. Petersburg, Fla. -- The Sembler Company’s latest listing is nearly 3,250 sq. ft. of ground-floor retail space in The Salvador, new luxury condominiums, located in downtown St. Petersburg, Florida. The 74-unit, green-certified condo tower is located just 300 ft. from the University of South Florida, and walking distance from The Dali Museum, The Mahaffey Theater and the Central Avenue arts/entertainment district among other attractions.

New York -- Urban Edge Properties announced the acquisition of Pan Bay Center, located in the Howard Beach neighborhood of Queens, New York, for $27 million. The property includes almost the entire block on the west side of Cross Bay Boulevard between 156th Avenue and 157th Avenue.

The 50,000 sq. ft. property is currently 85% leased with local retail tenants on the ground floor and medical office tenants on the second floor. The property includes 97 parking spaces.

Cleveland -- Forest City Enterprises, Forest City Realty Trust announced the completion of the merger of FCE Merger Sub, Inc., an Ohio corporation, with and into Forest City Enterprises, Inc., with Forest City Enterprises, Inc. surviving as a wholly-owned subsidiary of Forest City Realty Trust, Inc.

The merger marks the final step in the company’s planned conversion to real estate investment trust (REIT) status for the taxable year ending December 31, 2016.

Photo: ColorTek - Studio C, St. Louis