Development/Redevelopment

Amazon’s expansion into brick-and-mortar taking it to NYC
New Yorkers will have a new way to browse Amazon’s best-selling book titles — in a physical store. Later this year, the retail giant will open a book store in Manhattan’s Shops at Columbus Circle, in the Time Warner Center, according to ReCode.
Sears sells top brand, closing more stores
Sears Holdings Corp. is seeking to stop its bleeding and raise more cash by closing another 104 stores and selling its iconic Craftsman tools brand. The struggling retailer said it has reached an agreement to sell Craftsman to Stanley Black & Decker for a net present value of about $900 million, including future royalty payments. Sears, which will continue to sell Craftsman products, had put the brand, along with its Kenmore and DieHard brands, up for sale several months ago.

Utah mall has replacement lined up for closing Macy’s

CBL announced that it has a replacement anchor lined up for the Macy’s store closing at its Layton Hills Mall in Utah, one of 63 Macy’s locations slated to be shuttered this spring. One other Utah Macy’s is scheduled to close at Cottonwood Mall in Salt Lake City.
2017 Survival Tips

Chief executives from leading retail real estate companies shed light on the new year’s most pressing challenges for their tenants
Finding a New Outlet

New retailers and new consumers (read: millennials) are discovering value retail, and that means more outlet centers in more locales in more different configurations.
Done deal: Penney sells headquarters campus in leaseback deal

J.C. Penney continues to lower its debt load. The retailed has sold its sprawling headquarters campus in Plano, Texas, to Dreien Opportunity Partners, general partner of Silos Opportunity Partners, for a gross sale price of $353 million before closing and transaction costs.
NYC BEST BETS: TOP 10 NEW STORES

The past year saw the opening of dozens of exciting new stores in Manhattan. Here’s my annual list of faves:
• Barneys: In a spectacular homecoming, the upscale retailer opened a stunning flagship downtown on the same block the company was founded in 1923. The multi-level, 55,000-sq.-ft. store combines the ultimate in modern luxe with the latest technology, from beacons to a store clienteling app to mobile checkouts. (101 Seventh Ave.)
Northeastern Exposure

Packed and bursting with opportunities
Ground-up projects are hard to come by here, but shopping center innovation and new retailers are not
Density and diversity. The two D’s. That, in short, is what sums up the Northeast market for retailers. It’s the place where chains with national expansion plans or new formats to test need to be.
Expanding North

DLC Management Corp.’s grocery-anchored shopping centers can be found in places such as Dallas; Milwaukee; Columbus, Ohio; and Birmingham, Ala.; but the company has a special stake in the Northeast. In October, DLC closed the biggest deal in its history, acquiring a passel of 16 centers, all but one of them in New York state. Chain Store Age Real Estate Editor Al Urbanski talked with DLC CEO Adam Ifshin and asked him what retailers need to know about the Northeast market.
Saks Off 5th to enter new market

Saks Fifth Avenue Off 5th will open its first location in Montreal, at CF Galeries d’Anjou. The approximately 30,000-sq.-ft. store will open this summer. “We have now announced four locations across Quebec and we look forward to bringing the Off 5th experience to these areas, said Jonathan Greller, president, Saks Off 5th and Gilt. CF Galeries d’Anjou is managed by Cadillac Fairview, and jointly owned by Cadillac Fairview and Ivanhoé Cambridge.