Development/Redevelopment

August is a busy month for Petco, as the pet specialty retailer will celebrate the grand opening and re-opening of four stores, including one new location, one remodeled store and two store relocations.  

In its race to open by early 2017, Bass Pro Shops has launched vertical construction on its 67,000-sq.-ft. outpost at ONE DAYTONA, the retail, dining and entertainment extravaganza underway across from the Daytona International Speedway.   Bass Pro Shops’ general contractor EMJ Construction utilized a 200-ton track crane to raise 30 panels that represent the walls of the structure.   

A premium children’s brand is planning a growth spurt.    Private equity firm L Catterton has acquired Hanna Andersson for an undisclosed sum, with the intent of expanding the Swedish children’s apparel retailer across its channels.   Hanna Andersson currently operates a robust e-commerce and catalog business in addition to 55 retail stores and 11 outlet locations.  

When the new L.L. Bean store opened at Lynnhaven Mall this summer, it did so to lines wrapped around the building as shoppers waited to see the state of Virginia’s third store for the outdoor retailer.   The 17,138-sq.-ft. store in Virginia Beach joins outposts in Richmond and Tysons Corner; it was designed by Cuhaci & Peterson in a former Lord & Taylor space which was renovated by KBE Building Corp.    

Ice cream lovers in Lebanon will soon have a new confectionary option, as Cold Stone Creamery has announced plans to open multiple locations throughout the country over the next few years, beginning with the capital city of Beirut.    Kahala Brands, the parent company of Cold Stone Creamery, has granted MNM Investments Lebanon SAL, part of M1 Group, the master franchise rights to Lebanon under a 10-year master franchise agreement.  

Steve Tanger is more than CEO of outlet giant Tanger Factory Outlet Centers – he is also an effective talking head.     Tanger appeared as a featured guest on CNBC's "Mad Money with Jim Cramer" on Thursday, July 28, and talked about the consistent strength of the outlet market despite a volatile retail industry.   

Construction spending in the retail sector saw a dip in June, according to a report by the Associated General Contractors of America, but the first half of the year recorded an overall gain.   Commercial (which includes retail, warehouse and farm) construction declined 1.6% in June, per the report, but climbed 8.6% year-to-date. Association officials said spending appears to have leveled off after a strong early start to the year prompted by mild winter weather conditions in many parts of the country.  

A Gainesville, Florida, mixed-use project now features a strategically assembled team to lead the property to its planned fall 2018 opening.   According to Butler Enterprises president Deborah Butler, the team of local, national and international design and construction professionals will work with Butler to create a world-class retail and residential core for Gainesville.   The team consists of: