Development/Redevelopment

It’s been a busy fall for hip eyewear marketer Warby Parker.

The company opened its first permanent location in Washington, D.C., in the Georgetown section.

The 1,230-sq.-ft. store features Warby Parker’s signature classic library design, with custom brass library lamps, suspended globe lighting, chevron wood flooring, walnut shelving, and banquette seating for reading and relaxing.

Photos: Dalziel & Pow, London

Peoria, Ill. -- Cullinan Properties announced the addition of Vic Pildes as senior VP of development and anchor leasing. In this role, Pildes will be responsible for development and municipal related activities for new projects, assist in the identification of new acquisition opportunities and lead anchor leasing efforts throughout Cullinan’s portfolio.

The retail real industry has experienced its share of changes over the years, but nothing comes close to the transformation that it is currently undergoing.

As the industry undergoes what the International Council of Shopping Centers calls one of the “most profound transformations” in its 60-year year history, the association has releases its Envision 2020 report, a collaborative initiative that outlines where the industry will be in five years according to leaders from around the globe.

Ikea continues its commitment to renewable energy with the opening of its store in St. Louis.

The 380,000-sq.-ft. store, the Swedish company’s first in the state of Missouri and 41st in the United States, features the largest rooftop solar array in the state of Missouri.

It is also the first Ikea location in the United States that is lit entirely with LEDs, both inside and out. It is also the first to open with LED lighting for sale.

To date, Ikea has a renewable energy presence at 90% of its U.S. locations.

It’s official: Downtown Disney (at Walt Disney World in Lake Buena Vista, Florida) is now Disney Springs. The change is part of a comprehensive makeover of the open-air center that includes a lineup of new retailers and restaurants.

Chain Store Age talked with Michael Puline, senior VP of leasing, Mid-Atlantic and Southeast, for DLC Management Corp., about trends, technology, and projects on the board.

[quote-from-article] If you could isolate five current trends in retail real estate, what would they be?
Here are my top five:

In its 11th year, the Top Redevelopers survey remains relevant as more shopping center companies redevelop than build anew – although the redevelop vs. develop scales are more in balance now than they were five years ago.

Gaithersburg, Md. -- Retail Properties of America, Inc. announced GreatGatherings a 16,825 sq. ft. store will join Downtown Crown located in Gaithersburg, Maryland. RPAI acquired Downtown Crown in January 2015 with a lease rate of 77.5%, the centers lease rate is now 88.7%.

In its 11th year, the Top Redevelopers survey remains relevant as more shopping center companies redevelop than build anew — although the redevelop versus develop scales are more in balance now than they were five years ago.