Development/Redevelopment

Ikea plans to install a solar energy system atop its Las Vegas store, opening summer 2016.

Panel installation will begin this winter, with completion expected in spring for what Ikea says will be the largest single-use rooftop solar array by a retailer in the state of Nevada. The 351,000-sq.-ft. future Ikea Las Vegas, and 1,300 parking spaces, currently is under construction.

Oak Brook, Ill. -- Inland Real Estate Acquisitions announced the acquisition of five properties in September on behalf of Inland related parties totaling nearly 500,000 sq. ft. across five states. The acquisitions collectively total $138.4 million in purchase price.

Ridge Hill Shopping Center, developed by Forest City Ratner Companies (FCRC), is expanding.

During the course of the last month, Yonkers, New York-based Ridge Hill added nine new retailers and attractions to its roster of tenants. In the first half of 2015, the center added a total of 50,000 sq. ft. of retail and restaurants, with an additional 15,000 sq. ft. of office space. Seasonal offerings will account for another 14,000 sq. ft. and the center is poised to add 10,000-sq.-ft. of permanent retail before the year ends.

It seems as though off-price is one of the few bright spots in traditional retail these days, so it's no wonder that Hudson’s Bay Company is adding another off-price concept to its portfolio.

Walnut Creek, Calif. -- Macerich announced 45 retailers set to join Broadway Plaza in Walnut Creek, California. The center, anchored by Nordstrom, Neiman Marcus and Macy's, is undergoing a major renovation that will add 315,000 sq. ft. of new space, parking, new finishes and refreshed outdoor amenities.

The TJX Companies is expanding into another country with its acquisition of Trade Secret’s 35 stores.

TJX announced it has completed its acquisition of Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corporation Limited for $59 million. The acquisition of Trade Secret provides TJX an opportunistic entry into Australia, where TJX currently operates one of its 13 buying offices.

New York -- Howard Hughes Corporation announced McNally Jackson Books will open a new location in 2017 at the iconic Seaport District in New York. The independent New York bookstore will set up shop in Schermerhorn Row along the cobblestoned streets of the historic district and bring a new literary experience to the Seaport with a refined and carefully curated selection of books, free interactive event programming, a café with outdoor seating and a family-friendly reading area for children to engage the growing residential community.

Montgomery, Ala. -- Jim Wilson & Associates announced the addition of Doug Jeffords, VP of construction, and Evan Conder, development director.

Microsoft Corp. has opened its first Manhattan flagship, within blocks of its major competitor.

The new Microsoft store is located at the intersection of Fifth Avenue and 53rd Street, just several blocks away from Apple's Manhattan flagship with its famed glass cube entry. Microsoft has been planning the five-floor, 22,369-sq.-ft. store for more than six years.

Fast-casual dining chain Johnny Rockets is expanding its range to include customers in the countries of Italy, Paraguay and Canada.

As part of its strategy to double its global footprint by 2017, Johnny Rockets has signed agreements for 49 new restaurant locations in those three new markets. Some locations will open as early as 2016.