Development/Redevelopment

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.  

Howard Hughes Corporation this week topped out the second of three residential towers destined for Ward Village, a 60-acre, master-planned community in Honolulu that will deliver 4,000 new residences when completed.    The finished Anaha tower, set to welcome residents in 2017, will house a Merriman’s restaurant and Oahu’s flagship Whole Foods Market.  

Abercrombie & Fitch Co.’s turnaround was called in to question on Tuesday as the chain posted a wider loss in its second quarter, hurt by a decline in tourist traffic at its flagship locations.     The teen apparel retailer also revealed that it expects to close up to 60 U.S. stores as their leases expire this fiscal year. On its quarterly conference call, company executives said the chain has flexibility to close even more stores, with about half of its U.S. leases expiring by the end of 2017, the Wall Street Journal reported.

Branch Properties, which owns 24 retail centers and restaurant parks in the Southeast, made its first foray into Alabama with the purchase of two Birmingham properties from Bayer and a silent partner.   The Atlanta-based Branch gets Inverness Corners, a 236,444-sq.-ft. center anchored by Winn-Dixie and Kohl’s, and Inverness Plaza a 74,818-sq.-ft property that houses Alabama’s only PGA Super Store. The deal was brokered by JLL.  

Saks Fifth Avenue Off 5th is opening three stores on Sept. 1, two north of the border.   The retailer is set to open its first-ever locations in Canada’s Alberta province, a 31,900-sq.-ft. store at South Edmonton Common, Edmonton, and a 30,000-sq.-ft. store at CrossIron Mills, Rocky View.   In addition, the off-pricer is opening a 23,000-sq.-ft. store at El Paseo Square, Palm Desert, California, also on Sept. 1.    

Photo: Steelblue   There’s a reason that dining and entertainment destinations are the key success components at retail centers these days: They are e-commerce-proof, the two marketplace options that continue to draw traffic and post upward-trending numbers. Spending at restaurants has grown faster than any other retail category since the recession, according to the Commerce Department, pushing dining dollars past grocery dollars for the first time.  

Amazon Books has confirmed plans for its fourth physical location.   The retailer will open a store in Chicago, in the city’s Lakeview neighborhood, Crain’s Chicago Business reported. The 7,200-sq.-ft. location will be on the site of what was formerly a bar and grill.   "We're excited to be coming to Chicago," an Amazon spokesperson said in the report.   

Tuesday Morning Corp. continues to expand its new prototype.    The off-price retailer announced the relocation and upgrade of two locations in Southern California. Its store at California Oaks Center in Murrieta, has relocated to Palm Plaza in Temecula, and its store at Foothill Village Shopping Center has relocated to Terra Vista Town Center (both are in Rancho Cucamonga). The new locations feature the chain’s latest prototype, which includes new fixtures, improved lighting and a redesigned layout.    

Amazon announced plans to open a fulfillment center in Coppell, Texas. It will be the Internet giant’s eighth center in the Lone Star State.   “Our ability to expand Texas operations within three short years is the result of two things: incredible customers and an outstanding workforce in the state,” said Akash Chauhan, Amazon’s VP of North American operations.   

The Summit at Fritz Farm has signed CRU Food & Wine bar to a growing roster of gourmet dining establishments at the $156 million project under construction in Lexington, Kentucky.   The Summit, scheduled to open next spring, will feature 1 million-sq.-ft. of retail, 306 apartments, a boutique hotel, and 48,000 sq. ft. of Class A office space, according to developer Bayer Properties.