Sustainability

Chicago – Real estate investment trusts (REITs), which represent a sizable share of retail real estate activity, are worried about possible increases in interest rates. According to a report by consulting firm BDO USA LLP, 97% of REITs mention risks related to increases in interest rates and hedging.    This is up from 90% in 2014 and 88% in 2013, according to the 2015 BDO RiskFactor Report for REITs, which analyzes the most recent SEC 10-K filings for the 100 largest publicly traded REITs in the U.S.

Just days after announcing that it would be opening several "pick-up points" across Canada, Ikea says it plans to open a massive distribution center in Ontario in October.

Mississauga, Canada – Ikea plans to open a 397,000-sq.-ft. distribution center in Mississauga Ontario in October. The new facility will fulfil customer orders from the four existing Toronto-area stores and e-commerce purchases, as well as support growth plans for Ikea Canada to meet customers in new and existing markets.

The location will bring Ikea closer to the customer, which the retailer hopes will allow for an improved logistical setup enabling an increased range offer and shorter lead-times while contributing to sustainability goals.

Conshohocken, Pa. -- Ikea has submitted plans to the city of Joliet, IL for a second distribution center – to accompany the center previously announced and planned to open in summer 2017.

In February 2015, Ikea advanced the development of its previously approved 1.4-million-sq.-ft. Midwest distribution center on 72 acres of land already purchased in Joliet/ The company is now proposing another, similarly sized facility on 62 acres it hopes to purchase adjacent to the west of the currently planned first building.

Salt Lake City - Phillips Edison & Co. is introducing a new program created to empower and prepare emerging leaders for a successful future. Innovation Labs is a professional development series that places associates from various departments on a team and assigns a real-life challenge facing the company.

Columbia, Md. – The Howard Hughes Corp. has signed several retail and restaurant leases for the public promenade at The Metropolitan Downtown Columbia, a new luxury apartment community located in Columbia, Maryland. As part of the transformation, The Howard Hughes Corp. recently completed the renovation of the historic Rouse Building into a flagship Whole Foods Market and a 27,000-sq.-ft.luxury spa and wellness center, as well as kicked off a multi-stage renovation of Merriweather Post Pavilion.

Big Lots employees in Ohio will be going to work for their communities in 2015, but not in a retail store. 

The company's associates in the West Columbus area will be planting and maintaining a 17-bed community garden and hope to harvest more than 2,000 pounds of fresh produce in 2015 for the LSS Westside Food Pantry through the Mid-Ohio Foodbank.

New York — The Brooklyn Navy Yard Development Corp. on Tuesday announced redevelopment plans for Admirals Row that will bring a long-anticipated supermarket, new manufacturing space and a brand new community facility to the site. Wegmans Food Markets will anchor the $140 million redevelopment of Admirals Row led by Steiner NYC, the developer of Steiner Studios.