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Development/Redevelopment

  • REI makes Indiana debut

    SEATTLE — Recreational Equipment Inc. announced that it will open its first Indiana store in Indianapolis next spring.

    According to the company, the one-story, approximately 23,800 sq.-ft. store will offer products from the top brands of outdoor gear and apparel for camping, climbing, cycling, fitness, hiking, paddling, snow sports and travel. The Indianapolis store will also house a bike shop for quick assemblies and repairs, and a seasonal gear rental department for customers looking to test new activities, REI reported. 

  • Burger Bonanza: Rare or well-done?

    Like many of you, I just got back from RECon, and I’m still processing what I saw and heard. One thing that was interesting to me was the fact that it seemed like burger concepts were on everybody’s site plans, from In-N-Out Burger to Smashburger and Five Guys. If you like a good burger -- and, who doesn’t -- this is great news. If you are a developer or landlord though, I think you should proceed with some caution.

  • Block opens management office in Atlanta

    Kansas City, Mo. -- Block Real Estate Services said it has opened an office in Atlanta, to provide asset, property, and construction management services to its current portfolio of commercial properties located in the Atlanta-metropolitan area.

    Bert Calvert will oversee the operations for BRES in Atlanta.  
     

  • WP Realty acquires Chesterfield Marketplace

    Midlothian, Va. -- Bryn Mawr, Pa.-based WP Realty announced Thursday that it has acquired Chesterfield Marketplace located in Midlothian, Va.

    This transaction marks WP Realty’s 10th acquisition of the year.

    Chesterfield Marketplace is a one-story, 428,576-sq.-ft. community shopping center anchored by PetSmart, Staples and TJ Maxx, and shadow anchored by Home Depot and Toys “R” Us.

    The portion of the center acquired, 197,942 sq. ft., is currently 54% occupied with 91,232 sq. ft. of available space.

  • Disney dreams big

    GLENDALE, Calif. — Ahead of the upcoming Licensing International Expo in Las Vegas, Disney Consumer Products chairman Andy Mooney showcased the companies plans to expand its retail presence. According to Mooney, who was speaking at a media presentation, sales of Disney-branded merchandise have grown at a compounded rate of 12% per annum over the last 10 years. 

  • RECon Revisited: A Series: Part 3

    As part three of our ongoing coverage of RECon, the annual retail real estate convention conducted by the International Council of Shopping Centers and held May 22-25 in Las Vegas, Chain Store Age talked with Joe Boehm, senior VP, retail leasing, of Cleveland-based Forest City Enterprises, regarding his impressions of RECon 2011 and what Forest City projects garnered the most attention at the show.

    What impression of the state of the industry were you left with by the end of RECon 2011?

  • Investment sales of retail properties surges 53%

    Investment sales volume of significant retail properties totaled $5.8 billion in the first quarter of 2011, up an astounding 53% from the same period in 2010. It is important to also note that the number of properties traded increased at a slower pace – by 25% – which means that properties are trading at comparatively higher prices.

    Per-square-foot pricing, at $167, is at its highest level in two years and 31% higher than the trough in second quarter 2010. Cap rates are at their lowest level since 1980 ending the quarter at 7.6%.

  • Readers Speak Out: What was your key takeaway from RECon 2011?

    In the May 26 edition of SiteTalk, we asked the question, "Did you attend RECon 2011 in Las Vegas this week? If so, what was your key takeaway from the show?"  This is what several readers had to say:

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