Development/Redevelopment

Among several developers reporting positive signs for leasing at the RECon Show in Las Vegas was Olshan Properties.   Head of Retail Ken Marshall said media reports about retail’s downfall did not ring true at his company. “The first few months of 2017 generated significant leasing activity throughout our highly-diversified retail portfolio and, most notably, within our retail holdings that are housed in mixed-use environments,” he said, noting that the trend began last year.  

Ikea announced last week it would build a new location adjacent to a CBL property outside Raleigh, and this week CBL announced it would capitalize on that occasion to transform its Cary Towne Center into a mixed-use project.   CBL has been working with the town of Cary — an affluent and growing community in the Research Triangle — to start the zoning process to allow the construction of a multi-phase renovation of the property. Plans call for a mix of high-end retail, dining, entertainment, residential, office, and green space.

The 300,000-sq.-ft. mixed-use center being erected by International Speedway Corporation across from Daytona Speedway is filling up fast.   Three new tenants have signed on to One Daytona. Sister brands Clair de Lune, a home fragrance store, and Kasa Living, a home décor shop are Canadian brands making their first appearance in the region. Joining the development’s food and beverage roster is Built Custom Burgers, a build-your-own burger concept offering up a long list of toppings at no additional charge.  

Walmart is expanding—and updating—its footprint in the Sunshine State.   The retailer will open nine new stores across Florida in its current fiscal year, creating more than 800 jobs, and also execute a multi-million-dollar capital investment plan by remodeling more than 40 locations across the state. Walmart currently operates 375 stores in Florida.    

National Realty & Development Corp. has been in business for some 50 years, and privately held for all that time. It is one of the Northeast’s premier retail owners and developers, with a portfolio of 78 centers. But a ground-up development in Middletown, New Jersey, has served to crystallize what brick-and-mortar retail is all about for longtime president John Orrico.  

Retailers who want a prime location but also one that’s affordable should check out Philadelphia, Chicago and Seattle.  

Deborah Butler grew up in a college town. More importantly, she watched her family grow one store into a mega-retail-complex in Gainesville, Florida, that keeps on growing. The University of Florida has been very, very good to Butler and her family, and Butler has lots to say about the symbiotic relationship of higher education and retail.  

Lolli & Pops has entered into a partnership to grow its store portfolio.

The retailer, which specializes in high-end sweets and confectionary treats, is teaming up with retail real estate company GGP Inc. to open 30 new locations.