Development/Redevelopment

Brookfield Asset Management announced the completion of its deal to acquire Rouse Properties at a price of $18.25 per share.   Rouse will be merged with Brookfield’s BSREP II Retailing Pool LLC affiliate and the acquired company’s stock will be delisted from the New York Stock Exchange.  

Walmart grocery shoppers in North Carolina and Virginia may notice an improved assortment.   The discount giant is opening a 450,000-sq.-ft. distribution center in Mebane, North Carolina, on Wednesday, July 13. The facility, which cost nearly $100 million, will be dedicated to distributing perishables to stores in North Carolina and Virginia.  

With nearly 1,300 locations spread across 34 states, Ross Dress for Less makes the claim that it is the nation’s largest off-price apparel and home fashion chain. With a mass grand opening of 24 more stores set for July, the chain clearly intends to hold on to that distinction.   New Ross locations will spring up in 14 states, with Wisconsin hosting four of them -- in Brown River, Onalaska, Racine, and West Green Bay.   

Wilder Companies executives have an image upgrade in mind for the Nod Brook Mall in Avon, Connecticut, a 100,000-sq.-ft. open shopping center they bought this week. The affluent bedroom community outside Hartford boasts an average household income of almost $160,000, according to Wilder, which will recast the center as The Shops at Nod Brook.  

Petco will not be taking it easy this summer.   As part of a 2016 growth plan which includes 26 new Petco stores and one new Unleashed by Petco location, the specialty pet supplies retailer will open five new Petco stores across the country in July. In addition to the five new stores, the company is also remodeling 12 stores in Seattle, one in San Diego, expanding one store in Heath, Ohio, and relocating one store in Middleburg Heights, Ohio.  

Walgreens Boots Alliance may not have to shutter as many stores in the wake of its planned merger with Rite Aid as it once thought.   

Amazon is bringing its bookstore concept to one of the largest retail projects to ever open in Manhattan.   The online giant is planning to open a bookstore and cafe at Hudson Yards, the massive retail, commercial and residential space being developed by Related Cos. and Oxford Properties Group, the New York Post reported.     Click here to read more.

Dyson, the consumer electronics brand best known for it pricey vacuum cleaners, has opened a store in the heart of London’s main shopping district.   The sleek, futuristic-looking store, on Oxford Street, is designed to allow shoppers to see and test Dyson’s complete line of vacuum cleaners, fans, heaters, humidifiers and other products, with some 65 items on display. It also has 64 different dust/dirt samples and four floor surfaces available on which customers can to test vacuum cleaners.