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Development/Redevelopment

  • Big number paid for Houston center

    A 65,798-sq.-ft. neighborhood center in the Houston suburb of Greenspoint has been purchased for $15 million, or about $228 per square foot, according to the Chron website. Deal broker CBRE said that’s one of the highest prices paid for retail space in the area on a square-foot basis.  
  • German audio company opens experiential store in New York

    A German brand known for its high-quality headphones had dropped anchor in the United States.      Sennheiser has opened a pop-up, in the SoHo section of downtown Manhattan, that is designed to let visitors try out its products firsthand.      The brand is also set to open a permanent retail space, at the Westfield World Trade Center in Manhattan, in late October. It will serve as a showroom and not sell product (product is sold at the pop-up, however).  
  • Saks unveils new specialty store concept

    Saks Fifth Avenue has opened its first standalone store dedicated exclusively to footwear.  
  • Connecticut center gives Rouse a foothold in Northeast

    Until this week, Rouse Properties’ northeastern-most retail possession was The Centre at Salisbury in Maryland. But its purchase this week of an 115,000-sq.-ft. center outside of Hartford, Connecticut, gives the developer a footprint planted firmly in New England.  
  • Investor doubles money on Illinois center

    In 2013, Newport Capital Partners paid just over $31 million for Danada Square East, a 200,000-sq.-ft. center in Wheaton, Illinois, anchored by a Dominick’s supermarket. Yesterday, Newport sold the property for $63 million.  
  • Starbucks reveals location of fourth Reserve Roastery format

    Starbucks is bringing its new immersive store concept to Tokyo.   The coffee giant will open a Reserve Roastery in Tokyo, in 2018. Located in the Nakameguro district, an upscale neighborhood, the Roastery will be designed in collaboration with Kengo Kuma, a world-renowned architect and founder of Kuma Lab at the University of Tokyo.  
  • Westfield plans $1.5 billion project to replace L.A. mall

    Once the mecca of “Valley Girls” lured by white marble interiors and retailers like Saks and I. Magnin, the Promenade Mall in Warner Center north of Los Angeles will be razed and replaced by a $1.5 billion mixed-use development.   Westfield, owner of the 43-year-old, 550,000-sq.-ft. mall, has announced a re-imagination of the site in line with the Los Angeles City Council’s Warner Center 2035 plan to urbanize the area.  
  • Teen apparel retailer partners with GGP to open 13 pop-ups

    The Wet Seal is going to be very busy on Nov. 3.   That’s the day the retailer, in partnership with GGP, will open 13 holiday pop-up locations at GGP regional shopping centers throughout the nation.   "We see an opportunity for additional brick and mortar locations during the peak holiday season," said Wet Seal CEO Melanie Cox.    The temporary stores will range from 3,000 sq. ft. to 5,000 sq. ft. each.  
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