Development/Redevelopment

Ross Stores has ambitious store expansion plans for 2016—and sees plenty of potential beyond that.

The off-price retailer opened a total of 22 Ross Dress for Less and six dd’s Discounts stores across 15 different states in February and March.

The new locations are part of the company’s 2016 expansion plans to add approximately 70 Ross and 20 dd’s Discounts locations throughout the year.

Sunrise, Fla. -- Metropica Holdings and KGH International Development announced that construction is on track for the retail vertical portion to begin this summer and is underway on the residential component for Metropica, located in Sunrise, Florida. Metropica is a transit-oriented mixed-use complex encompassing 65 acres and more than 4 million sq. ft. of retail, world-class residential, commercial, hotel, conference and public spaces.

Haverty Furniture Company has been around since the late 19th century, but the specialty furniture retailer has a decidedly 21st century approach to energy management.

“We want Havertys to be the company everyone wants to come work for,” said Rawson Haverty Jr., senior VP of real estate and development, Havertys, during a session at Chain Store Age’s SPECS 2016 Conference, March 13 – 15, in Dallas.

Photo by Apple insider

Apple has take the wraps off its hotly anticipted next-generation store, which is located at the Shops of Saddle Creek South in Germantown, Tennessee, a suburb of Memphis.

The space features a massive display screen that stands nearly floor-to-ceiling at the wall opposite the store's all-glass entrance, reported AppleInsider.

For more, click here.

Las Vegas -- CityCenter Holding -- a venture between MGM Resorts International and Infinity World Development Corp. -- announced that it has entered into an agreement with a venture led by Invesco Real Estate and Simon Property Group to acquire The Shops at Crystals in Las Vegas, for a purchase price of approximately $1.1 billion.

Sayreville, N.J. -- O’Neill Properties Group announced that it has completed brownfield remediation project at the 40-acre lagoon at The Pointe located in Sayreville, New Jersey. The Pointe is the largest mixed-use brownfield redevelopment ever undertaken in the Northeast with the project costs of $2.2 billion. Vertical construction will begin in spring 2016 on a 200,000-sq. ft. anchor tenant Bass Pro Shops Outdoor World, the largest Bass Pro in the country outside of its original flagship operation.

Atascocita, Texas -- Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm specializing in retail tenant representation, investment sales, and project development and leasing, announced that it has broken ground on the redevelopment of two buildings totaling 33,000 sq. ft. on 4.5 acres of land located Atascocita, Texas.

Lafayette, La. -- Stirling Properties and CBL & Associates Properties celebrated the grand opening of Ambassador Town Center located in Lafayette, Louisiana. The center is currently 97% leased and includes either first-time locations within Lafayette or Louisiana, or both.