Development/Redevelopment

Phillips Edison has acquired the Harbour Village Shopping Center in Jacksonville for an estimated $24.9 million, according to the Jacksonville Business Journal.   The center was sold by a joint venture of MMG Equity Partners and Global Fund Investments, which purchased it in a foreclosure sale for $12.6 million in 2011. At that time, Harbour Village was 86% occupied.  

West Elm is expanding into the hotel business. And most everything in the guest rooms will be for sale.   The retailer, a division of Williams-Sonoma, is partnering with hospitality management and development company DDK to launch a chain of boutique hotels.    

Las Vegas’s first major sports franchise, the National Hockey League’s Black Knights, will build a practice facility in the Summerlin master-plan community west of the Strip.  

A food hall-cum-retail bazaar called Canal Street Market is set to open at the northern edge of Chinatown in downtown Manhattan, just south of SoHo and Tribeca.   Developer Philip Chong is claiming the site will be the first combined food and retail experience in this section of New York. A food hall will feature about a dozen options, including Yori Nori, a new concept from the owners of Korila and Mokbar, plus Davey’s Ice Cream and Boba Guy.  

A “Rally at the Rack” party is planned for Oct. 6 in downtown New Orleans for the opening of Nordstrom Rack’s store at The Outlet Collection at Riverwalk.   Nordstrom Rack will anchor the south side of the center, which owner Howard Hughes Corporation bills as the nation’s first downtown outlet location. Among the 75-or-so retail brands already doing business there are Guess Factory Store, Kay Jewelers Outlet, Neiman Marcus Last Call Studio, Reebok Outlet Store, and Wilson’s Leather.  

Dollar stores and off-price chains account for half of the spots on a list of 10 retailers adding the most new store square footage, according to commercial real estate and analytics firm CoStar.       Walmart tops the list, followed by Dollar General and Forever 21, according to a report by the Chicago Tribune.     Click here to read more.

dd's Discounts, a division of Ross Stores, will open its first store in Colorado on Sept. 24.   The new 20,000 sq. ft. store is located at University Square Plaza in Greeley, Col. It is part of the company's 2016 expansion plan to add approximately 20 dd's locations nationally throughout the year.  With the opening, dd's will operate 193 locations in 15 states.