Development/Redevelopment

Durham, North Carolina -- InvenTrust Properties announced that it has acquired Renaissance Center, a 96% leased, 363,176 sq. ft. retail power center, in Durham, North Carolina, for $129.2 million.

Dov Charney, the founder and ousted CEO of American Apparel, is scouting sites for a factory in South Central Los Angeles as he plots his comeback, Bloomberg reported.

Charney’s new venture reportedly will sell USA-made basics, starting off as a wholesale business and then expanding into a consumer online brand.

“I have a vision,” Charney told Bloomberg. “My business model works.”

Aldi is expanding its fledgling footprint in Southern California.

On Thursday, April 21, the grocer will open six stores in Los Angeles County, three in Orange County and one store in San Bernardino County.

The April openings are part of Aldi’s plan to open approximately 45 stores in Southern California by the end of 2016, eight of which opened last month.

Currently, Aldi operates nearly 1,500 U.S. stores in 33 states.

Specialty retailer Petco will open seven new stores in April as part of its 2016 growth plan, which includes 20 new store openings year-to-date.

In addition to the seven new locations, the retailer is also expanding one location to accommodate growth in Swampscott, Massachusetts, and remodeling seven stores in San Antonio.

Howard Hughes Corp. has added a fast-growing Dutch fashion brand to its lineup for its Seaport District revitalization project in lower Manhattan.

The developer has signed a lease with Scotch & Soda to set up shop in the shopping area which, when completed, will encompass seven buildings on several city blocks totaling over 365,000 sq. ft., with a mix of dining, shopping, entertainment and cultural offerings.

Starbucks will open its largest location in the world, a 20,000-sq.-ft. store, in one of Manhattan’s trendiest areas.

The coffee giant is bringing its new Roastery store format to the Meatpacking District, opening at 61 Ninth Ave., a new nine-story building that is currently under development. The building is close to Chelsea Market.

Amid ongoing pressure from investors to maximize the value of its real estate holdings, Macy’s has appointed Douglas W. Sesler as executive VP for real estate, effective April 5.

Staples is looking to connect with a key customer segment and improve the productivity of its selling space with a new pilot program involving shared workspace provider Workbar.