Development/Redevelopment

Houston-based Baker Katz has redeveloped and fully leased a retail site in Beaumont, Texas.
 
Baker Katz principal Kenneth Katz made the announcement.
 
Baker Katz completely redeveloped the site, beginning with demolishing the previous building with an end plan to create five new spaces for retail tenants. Starbucks, Mattress One and Wingstop will occupy the 6,100-sq.-ft. building. T-Mobile and Access Dental will each have 2,800-sq.-ft. in the second building. There is a new H-E-B located immediately east of the property.
 

Fairway Group Holdings Corp., the parent company of Fairway Market, has received a verdict on its May 2016 bankruptcy filing.

The iconic New York food retailer had its Chapter 11 bankruptcy reorganization plan unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles. Fairway is expected to emerge from bankruptcy during the week of June 20, 2016 with approximately $50 million in cash, a $140 million reduction of its debt and a reduction of annual debt service obligations by up to $8 million.

The SouthBay Pavilion Center in Carson, California, is getting a little bigger.
 
KTGY Architecture + Planning has unveiled the design for Vintage Real Estate’s retailer expansion at SouthBay Pavilion, a 1.2 million-sq.-ft. enclosed shopping center.  KTGY adapted Forever 21’s F21 RED brand for the new SouthBay Pavilion store, which includes large floor-to-ceiling display window boxes, textured wall treatments and red metal panels.
 

Bebe Stores Inc. is building upon efforts to turn itself around and boost its international presence.
 
The specialty apparel retailer, which launched a China growth plan in 2015, has entered into a joint venture with Bluestar Alliance LLC to license its brand domestically and globally. Bebe has received $35 million in connection with the formation of the joint venture.
 

Ralph Lauren Corp. is seeking to rectify what it acknowledges have been operational mistakes with a program of cuts and organizational streamlining it calls “The Way Forward Plan.”

Phillips Edison Grocery Center REIT I Inc. is acquiring a grocery-anchored shopping center, expanding the company’s holdings in Massachusetts.

Northwoods Crossing is a 159,562-sq.-ft. grocery store-anchored shopping center in Taunton, Massachusetts, a suburb 40 miles south of Boston. The center is anchored by BJ’s Wholesale Club. It also features national and regional tenants such as Tractor Supply Company, Dollar Tree, Subway, Ruby Tuesday and Wendy’s.

The term “post-department store era” was once considered so controversial that many in the retail world avoided using it, fearing backlash from powerful industry giants like Macy’s and Sears. Some saw the very idea of department store obsolescence as pure folly while others saw it only as a vague possibility too far in the future to consider.
 

Photo: Dollar General executives and local leaders cut the ribbon to celebrate the grand opening celebration of the company's new San Antonio Distribution Center. (L to R, Steve Sunderland; Wayne Peacock, Chairman, San Antonio Economic Development Foundation; Bexar County Judge, Nelson Wolff; Mike Kindy; Mario Tort; Todd Vasos, Dollar General CEO; Jeff Owen; Alan Warrick, San Antonio City Council; Jeff Owen; Bob Ravener; Jim Thorpe)