Development/Redevelopment

The opening of the newest Saks Fifth Avenue Off 5th location near downtown Chicago is a big deal literally and figuratively.

The newest Off 5th is located in the NEWCITY development at Lincoln Park on the northern fringe of downtown Chicago at 1457 Halsted Street at the intersection of North Clybourn Avenue. The store is the company’s 100th Off 5th location in North American, its seventh in Illinois and the second in downtown Chicago following the April 14 opening of the first location as 6 S. State Street.

There is a lot of tenant activity going on at the Miracle Miles Shops in Las Vegas with several notable retailers expanding, renovating and growing new concepts.

Consumers in the Columbus, Ohio, market will soon have a new option for shopping, dining, working, playing and living.

“Hamilton Quarter is a truly mixed-use, cohesive development with more than 300 acres of office, multi-family residential, retail, entertainment, hospitality and senior living offerings,” said Jason Freeman, development manager at Columbus-based fully integrated real estate services firm CASTO.

If the real estate trope that “Fashion Follows Food” is true, then Metropica will be one of the most chic neighborhoods in South Florida. Among the first tenants announced for the retail portion of the transit-oriented, mixed-use complex now under construction in Sunrise are: True Food Kitchen, Kona Grill, Oil & Vinegar, Fogo de Chão and Shake Shack. These will be joined by iPic Theaters, Kings Bowl, Anthropologie, Free People and Kendra Scott, among other first-to-market retailers.

Rising expenses resulted in an increased net loss at Tuesday Morning Corp. during the third quarter of fiscal 2016, despite positive sales results.

Dallas-based Tuesday Morning reported a net loss of $5.24 million, close to double the $2.8 million loss it posted during the third quarter of the previous fiscal year. On the plus side, net sales rose 11% to $211.38 million from $189.73 million. Same-store sales grew 13.4%, largely driven by an increase in customer transactions.

Serena & Lily has opened a flagship in a landmark structure in Wesport, Connecticut.

The 3,100-sq.-ft., three-story store is located in the historic Kemper-Gunn House, which was built in 1889 in the Queen Anne Victorian style. The retailer worked to preserve the original charm and character of the house, from the elaborate detailing in the exterior façade to saving the interior trim, hardware, hand-carved staircase, and stained glass windows.

Editor’s Note: The 27th annual Chain Store Age survey of Fastest-Growing Acquirers surveyed retail square footage purchased during the 2015 calendar year.

They come to the list with different philosophies and experiences, but this year’s Fastest-Growing Acquirers share a dedication to preparation and long-term strategies.

May in Las Vegas is when the dealmakers come out to, well, make deals, as the International Council of Shopping Centers hosts its annual RECon event at the Las Vegas Convention Center and Westgate Las Vegas Hotel. Held May 22-25 and attended by retailers and shopping center owners from around the globe, RECon will display such project wares as mixed-use destinations, outlet centers, and strip and lifestyle projects — and everything in between.