Development/Redevelopment

Macerich announces the recent arrival of several retailers to Fashion Outlets of Niagara Falls located in Niagara Falls, New York. New brands include Victoria’s Secret, Kipling, Columbia Sportswear, Mountain Warehouse and Calvin Klein Underwear.

Niagara Falls recent expansion brings the property size to more than 700,000 sq. ft. with a total of 200 stores and 1,100 additional parking spaces near Saks Fifth Avenue OFF 5TH – making Fashion Outlets of Niagara Falls one of the largest outlet malls in the country.

Tanger Outlets announced it has acquired land in Daytona Beach, Florida and plans in to immediately commence construction of its new outlet center development. When complete, the new center will beapproximately350,000 sq. ft. of retail space and feature over 80 upscale brand name and designer outlet retailers.

Target Corp. is bringing its smaller-sized, urban format to one of lower Manhattan’s trendiest — and wealthiest — neighborhoods.

The retailer will open an approximately 45,000-sq.-ft. store on Greenwich Street in Tribeca, near Battery Park, a fast-growing and affluent residential area, and the Financial District.

The two-level store is scheduled to open in October 2016. It is located in a 14-story, 625,000-sq.-ft. mixed-use building, whose landlord is Jack Resnick & Sons.

Oak Brook, Ill. -- Inland Real Estate Acquisitions, Inc. announced it facilitated the acquisition of 13 properties purchased in October by Inland related parties. The acquisitions total more than 1.65 million sq. ft. across nine states for a total purchase price of more than $432.2 million. The properties acquired include a student housing community, six shopping centers and single-tenant retail stores.

The 13 properties consist of:

Photo: left: Adam Zimel; right: Micah Kagan

Getting Dense

Ellicott City, Md. -- Investment Program Association announced it is honoring Daniel L. Goodwin, principal and chairman of Inland Real Estate Group with its Lifetime Achievement Award. The award was recently presented at the IPA Annual Conference.

Moorestown, N. J. -- PREIT announced the execution of more than 40,000 sq. ft. of new leases and the completion of its renovation to the dining court at Moorestown Mall located in Moorestown, New Jersey. The one million-sq.-ft. property is anchored by Lord & Taylor, Macy’s, Boscov’s and Sears. New retailers include: Yard House, Starbucks Coffee, Liberty Supply Co., Toy Genius, Eye Deals, Yankee Candle, Verizon Wireless and H&M.

Huntsville, Ala. -- RCP Companies announced the opening of the first phase of The Shops at Merchants Walk located in Huntsville, Alabama. The property features 90,000-sq. ft. of shopping and dining experience, including the only Whole Foods Market in North Alabama along with high-end shopping options. The development extends Parkway Place retail node and connects it to the Central Business District.

Livonia, Mich. -- Schostak Brothers & Company announced Steve Black will join its team as acquisitions manager. Black will source, analyze and acquire investment properties for the company’s portfolio, with a focus on growing its Supercenter Walmart shadow anchor footprint.

BJ’s Wholesale Club Inc. is preparing to open its first store in a new state.

GBT Realty Corporation, a national commercial development company headquartered in Brentwood, Tennessee, is developing the BJ’s Wholesale Club in South Carolina, in the city of Summerville. The $12 million development is situated on a 10.5-acre site. The 87,800-sq. ft. membership warehouse club that will feature a BJ’s gas station is expected to open in late 2016. Construction is set to commence immediately following the acquisition of the site in December.