Development/Redevelopment

Coach will celebrate its 75th anniversary with the opening of a three-level flagship on Fifth Avenue in Manhattan,

The store, at the corner of Fifth Avenue and 54th Street, is due to open in the fall.

Specialty outdoor retailer REI is on the move.

The company has two new stores in the works, one in Rochester, New York, and the other in Winter Park, Florida.

Expected to open in fall 2016, REI Rochester will be located at CityGate, which is in the heart of the city's university and hospital district. With the Finger Lakes and several ski resorts nearby, the 27,000-sq.-ft. store will carry gear and apparel for snow and water sports.

Alexandria, Va. -- EDENS announced its residential partnership with Gables Residential on the development of 530 First Street in Alexandria, Virginia.

530 First Street will be the next major step in the evolution of Old Town North. EDENS will spearhead a new retail to the neighborhood. The LEED-certified, mixed-use project will offer 232 units of distinct apartment homes above 50,000 sq. ft. of retail.

Columbus, Ohio -- WP Glimcher has completed the sale of Forest Mall in Fond Du Lac, Wisconsin and Northlake Mall in Atlanta. The two non-core assets were sold to private real estate investors for $30 million.

Oak Brook, Ill. -- Inland Investment Real Estate Services hires Niall J. Byrne as executive VP and head of property management. Byrne will be responsible for IIRES’s property management for Inland Investments, Inland National Development Corporation and Inland Institutional Capital Partners.

So far this year, four Sears Hometown Stores have opened around the country. Of particular interest is the opening in Selma, California -- inside a hardware store.

On Jan. 28, California Sears Hometown Store opened inside the Nelson Ace Hardware store in Selma.

Lucky Brand may be 25 years old, but with two new prototypes performing well and a series of omnichannel investments yielding results, the private equity-backed company’s most significant growth could be just beginning.

Soft Surroundings has completed a dividend recapitalization that was financed through an expansion of the existing credit facility.

The women’s lifestyle retailer is in the midst of a nationwide store expansion strategy, and the new debt financing includes a designated facility to fund future store openings. The company opened 11 new stores in 2015 and has identified over 15 locations for 2016.

Cleveland -- Forest City Realty Trust announced that its subsidiary, Nets Sports and Entertainment has completed the previously announced sale of its equity interests in both the Barclays Center arena and the Brooklyn Nets basketball team to Onexim Sports and Entertainment Holding USA. As previously disclosed, the transaction values the team at approximately $875 million and the arena at $825 million, inclusive of debt for each asset.

Woodstock, Ga. -- Transwestern’s Southeast Investment Services Group announced it brokered the disposition of East Cherokee Village Shoppes for $13 million. New Orleans-based PMAT Cos. acquired the 128,667-sq. ft., Publix-anchored shopping center is located in Woodstock, Georgia. Transwestern VP Fred Victor and managing director Kevin Markwordt represented the private seller.