Development/Redevelopment

Seattle -- Starbucks Corp. is making good on its pledge to spur job growth among “opportunity youth,” or young people aged 16 to 24 who don’t have jobs and aren’t in school.

Saks Fifth Avenue is putting its best foot forward in a hot category.

The retailer plans to open its first-ever stand-alone 10022-SHOE store in Greenwich, Conn. Expected to open in fall 2016, the new 14,000 square-foot location at 20 East Elm Street will be dedicated to women’s footwear and will be just a short distance from the existing Saks Fifth Avenue location in downtown Greenwich.

Fast-fashion giant H&M is adding another set of initials to its aggressive expansion plans. 

Chicago -- J. Crew Group’s new value-priced store concept has announced a second location.

Mercantile, which recently made its national debut at The Shops at Park Lane in Dallas, will open at The Mayfair Collection, in Wauwatosa, Wisconsin.
   

Montvale, N.J. -- Benjamin Moore has opened a 90,000-sq.-ft. state-of the-art distribution space in the Landover Logistics Center in Landover, Maryland.

The new LEED-certified (Silver) center will accommodate expansion and enhance service in the fast-growing Mid-Atlantic and Southeast markets, as well as support distribution of an expanded line of Benjamin Moore & Co. latex products.

Palm Coast, Fla. -- A transformation is underway. Branch Properties is in the midst of a $40.8 million redevelopment of the largest (and oldest) retail shopping center in Palm Coast, Florida.

Island Walk, once called Palm Harbor Shopping Center, is a 204,000-sq.-ft. center anchored by Publix Super Markets. Once completed in 2016, the upgraded retail destination will bring new and expanded tenants and amenities to the Palm Coast community in an effort to revitalize the city’s original core.  

New York -- Saks Fifth Avenue is going to open a freestanding store dedicated to a hot category.

The department store retailer plans to open a shoe store in Greenwich, Connecticut, in fall 2016, Women’s Wear Daily reported.

The store, whose name has not yet been revealed, will be located close to an existing Saks Fifth Avenue store, which will no longer sell shoes.

The new format will be modeled after Saks’ in-store 10022 shoe department, according to the report.

Houston - Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, has acquired a 4.5-acre property with plans to renovate two existing buildings totaling 33,000-sq.-ft. in Atascocita, in the Greater Houston area.

The firm plans to renovate the two buildings that were constructed in 1984 to update the architecture and attract new retail tenants. Construction is slated to begin early next year. Jim Bayne with Investar Real Estate Services represented the seller for this transaction

Austin, Texas -- Whole Foods Market on Wednesday posted disappointing third quarter earnings and revenue, but it also gave out some more details about its new, value-driven store concept.

The company revealed that it will debut the format, 365 by Whole Foods Market, in the second half of next year, with the first store opening in the Silver Lake section of Los Angles. It plans to open up to five 365 stores (all in the second half of next year), with the expectation of doubling the number of openings in 2017. Stores will average about 30,000 sq. ft.