Development/Redevelopment

Stores devoted to women’s activewear (or athleisure) are one of the fastest- growing segments in retailing and now Tory Burch has joined the crowd. The company has opened Tory Sport in the Flatiron District of Manhattan. The store features the entire Tory Sport collection, which ranges from running gear to golf clothing, reported NY Racked, and has a decor inspired by different elements of sports. [NY Racked]

Ross Dress for Less opened a new store in Jenkintown, Pennsylvania, on March 5.

The 26,000-sq.-ft. store is located in the Noble Town Center, 15 miles north of downtown Philadelphia, at the northeast corner of Old York Road and The Fairway.

The opening is part of the retailer’s 2016 expansion program, totaling about 70 new locations during the year.

Los Angeles -- CBRE Group for the fifth consecutive year was the top-ranked firm for commercial real estate investment sales throughout the world during 2015, according to Real Capital Analytics (RCA). CBRE has achieved the number one position in each of the five years that RCA has published global rankings.

Real Capital Analytics credited CBRE with 21.9% of market share across all property types, office, industrial, retail, apartment and development sites, in 2015 on a global basis.

Ikea is opening a new distribution center in Ontario as the Swedish home furnishings retailer ramps up plans to double its footprint in Canada over the next 10 years.

Ikea says its new distribution center in Mississauga, Ontario, allows the company to become even more accessible to customers by allowing for fulfillment of customer orders from four Toronto area stores and e-commerce purchases. This improved logistical set-up will enable shorter lead times for customers to receive their products, while at the same time contributing to Ikea's sustainability goals.

Modell’s Sporting Goods continues to grow its brick-and-mortar footprint. The New York-based company has added two more stores to its portfolio, one in Boston and the other in Philadelphia. Both stores are in prime locations formerly occupied by City Sports. (City Sports filed for bankruptcy in October 2016, and subsequently announced it would close all locations.)

In Boston, Modell’s opened an 11,000-sq.-ft. store on Boylston Street, in the city’s Back Bay area. It’s the retailer’s first outpost in downtown Boston.

Buffalo, Mo. -- Mid-America Real Estate – Minnesota recently brokered the sale of Buffalo Crossroads Center located along Highway 55 in Buffalo, Minnesota. The property was acquired by a local investment group for $3.8 million.

Buffalo Crossroads is a 19,753 sq. ft. center anchored by Jimmy John’s and Anytime Fitness.

The grand lady of Los Angeles retailing is getting a major facelift.

Taubman Centers is embarking on a $500 million remodel of Beverly Center this month that promises to transform every aspect of the iconic — and monolithic — eight-story center, which opened in 1982.