Development/Redevelopment

Louisville, Ky. -- A new off-price outlet concept that opened its first store in November 2014 is expanding.

Retail4LESS announced the opening of two new locations in Kentucky — one in Madisonville, and the second in Franklin — with both due to open in the late fall.

The opening of the two new stores will mark the first new stores for the off-price retailer since the launch of its inaugural location last year, in its home base of Louisville.

Burbank, Calif. -- Ikea on Wednesday broke ground on a new store that is located less than one mile away from the company’s first-ever store in California and oldest location in the Western United States.

Ikea is building a new, larger store in Burbank, California. Until it opens on the new site in spring 2017, customers can continue to shop at the existing 242,000-sq.-ft. Ikea in Burbank, which was its sixth overall U.S. store and opened in November 1990.

New York – Macy’s Inc. on Wednesday officially entered one of the industry’s fastest-growing store segments: off-price retail.

The company unveiled its newest banner, Macy’s Backstage, with the opening of three New York City -area stores, with locations in Brooklyn, Queens and Melville (on Long Island).

Washington, D.C. -- Edens announced that Mike Isabella, of Bravo TV’s “Top Chef” fame, will open his Kapnos Kouzina restaurant concept at Mosaic, Edens’ mixed-use development located in Fairfax County, Virginia. The restaurant is slated to open in early 2016.

Bridgeport, Conn. -- Bridgeport Landing Development, a subsidiary of The RCI Group, announced that the $50 million first phase of Steelpointe Harbor, located in Bridgeport, Connecticut, is scheduled to open later this year. Steelpointe Harbor is a two million sq. ft. super-regional waterfront project spanning 82 acres.

Newcastle, Wash. -- Retail Properties of America announced that it has closed on the off-market acquisition of Coal Creek Marketplace, a 56,000 sq. ft. grocery-anchored center located in Newcastle, Washington for approximately $17.6 million. The center is currently 95% occupied and anchored by Quality Food Centers, a subsidiary of Kroger.

As Target moves to reimagine the shopping experience for customers who visit its stores, the retailer has applied for two liquor licenses for a future store in Chicago.

USA Today reports that the company has applied for packaged goods and consumption on premises licenses.

The retailer may be trying to follow the lead of Kroger, Duane Reade and other retailers looking to expand their alcoholic offerings, which could pose operational challenges at these stores.

New market entries, a newly developed small format and ambitious omnichannel efforts have family footwear retailer Shoe Carnival on a trajectory to surpass $1 billion in annual sales.

St. Louis -- Build-A-Bear Workshop continues the transformation of its store experience — and business.

The specialty retailer on Tuesday debuted its updated store design at Mall of America, in Bloomington, Minnesota. Part of a company-wide brand refresh, the reformatted location was developed to increase productivity and optimize space while updating the brand’s overall brand look. New elements include:

• Sophisticated new logo, store set-up and color palette;

Los Angeles – Forever 21, known for operating some truly large stores, is reportedly rethinking that strategy.

According to the Wall Street Journal, the specialty fast-fashion retailer is also in talks to obtain a $150 million load.