Development/Redevelopment

Hoffman Estates, Ill. – Sears Holding Corp. has met financial expectations for its new real estate investment trust (REIT) called Seritage Growth Properties. A 53.3 million-share Securities and Exchange Commission (SEC) subscription rights offering for Seritage that closed on July 2 was oversubscribed and generated about $1.6 billion, meeting expectations for gross proceeds of $1.57 billion.

Chicago -- Englewood Construction has finished a 55,000-sq.-ft. ground-up Hobby Lobby store on an outlet pad at Seabrook Crossings, a new retail development in Seabrook, N.H.   

In Franklin, Tenn., Englewood recently completed an American Girl store, located in the CoolSprings Galleria mall just outside of Nashville. The store is the 12th Englewood has completed for American Girl. The architect for the project was Morristown, N.J.-based Jacobs Engineering Group Inc.
 
 

Specialty home goods retailer Conn’s continues to expand outward from its home state of Texas with several recent openings in key markets pushing the company toward its ambitious 2015 growth plan.

Conn’s currently operates 90 stores and earlier this year announced plans for between 15 and 18 new stores. Over the July 4 weekend the company added two store in North Carolina, a 46,000-sq.-ft. store in Charlotte and a slightly smaller 43,000-sq.-ft. store in Gastonia.

Marbles: The Brain Store has chosen one of the country's smartest cities for its next brick-and-mortar location.

The company plans to open a new store in the Washington, D.C., area at National Harbor, the waterfront shopping and entertainment district on the Potomac River.

The new location is the third Marbles store to open this summer. Marbles also launched in Times Square in New York City and Myrtle Beach, S.C., marking its first location in the southern region.

St. Petersburg, Fla. - The Sembler Co. recently broke ground on the 65,000-sq-ft Shoppes at Trinity Lakes, a Publix-anchored shopping center located in Trinity, Florida. In addition to the 45,600-sq-ft Publix and 1,400-sq-ft Publix Liquor Store, Sembler has signed leases with nearly 11,000 sq. ft. of retailers new to the Trinity market.

Katy, Texas – Academy Sports + Outdoors is hitting a landmark in its store count.

The sporting goods chain will open its 200th store in Tupelo, Mississippi on July 3.

The Tupelo store will be approximately 63,000-sq.-ft. and will bring 100 new jobs to the area. This will be the first location in Tupelo and the fifth store in Mississippi.

Dublin, Calif. -- Ross Dress for Less (“Ross”) isn’t slowing down its brick-and-mortar expansion.

The chain will open a new location in Salina, Kansas, on July 18. The 25,000-sq.-ft. store is located in the Central Mall, 80 miles north of Wichita. The opening is part of the retailer’s 2015 expansion program, totaling approximately 70 new locations during the year.  

Houston -- Houston-based Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced the acquisition of a 2.12-acre property with an existing 13,000-sq.-ft. office building located near the cross streets of U.S. Highway 59 N and West Little York Road in Houston.

Dublin, Calif. -- Ross Dress for Less will open new stores in Corbin, Kentucky, and in Middletown, Kentucky, both on July 18.  

The 22,000-sq.-ft. Corbin store is located in the Trademart Shopping Center at Highway 25 and Master Street.

The 25,000-sq.-ft. Middletown store is located in Middletown Commons at Interstate 265 and Shelbyville Road, 14 miles east of Louisville.  

Both are part of the retailer’s 2015 expansion program, totaling approximately 70 new locations during the year.  

Dublin, Calif. -- Ross Dress for Less will open a new store in Alton, Illinois, on July 18.  

The 24,000-sq.-ft. store is located in Alton Square Mall, 20 miles north of downtown St. Louis.