Development/Redevelopment

The federal government has extended the Investment Tax Credit (ITC) for solar energy investments through 2019. It provides businesses that install solar panels a tax credit equal to 30% of the total solar installation price. The credit will ramp down to 26% in 2020, 22% in 2021 and to 10% in 2022 for commercial solar installations.

There has been a great deal of discussion and analysis in recent years regarding the ongoing struggles of many traditional department store giants. Brands like Sears, J.C. Penney and Macy’s are scratching and clawing to continue to stay afloat, together with a number of big-box retailers that are also struggling to remain competitive in an evolving retail marketplace.

Fort Lee, N.J. -- Tucker Development announced long-term leases for first phase of Hudson Lights in Fort Lee, New Jersey. CycleBar, Linwood Wine & Liquor and SeeSaw will join the roster of tenants already signed to nearly 75% leased, 1 million sq. ft. development, anchored by iPic Theaters. The first-phase of the project will comprise approximately 140,000 sq. ft. of retail and 276 luxury apartments.

Convenience store chain CST Brands has addedtwo new independent directors to its board and announced it plans to pursue “strategic alternatives” that could include selling the company.

The company says the strategic review process will be comprehensive and will include a fresh look at several of CST's previously announced strategic initiatives and plans.

Amazon.com is continuing to expand its network of physical pickup points at colleges and universities across the U.S.

Amazon has recently announced agreements to open staffed pickup locations at the The University of Texas at Austin and the University of Akron.

Opening this summer, this 2,509-sq.-ft. space at the University of Texas will be located in Gregory Gymnasium. Additionally, Amazon Student and Prime members will receive free one-day pickup for orders placed by 10 p.m. on more than two million items.

Columbus, Ohio -- CASTO, The Daimler Group and The New Albany Company announced a joint venture to develop a large scale, mixed-use property, comprising 320 acres located in Columbus, Ohio at State Route 161 and Hamilton Road interchange.

Hamilton Quarter when completed will include over 700,000 sq. ft. of office space, 1 million sq. ft. of retail, restaurant, and entertainment space, up to 800 multi-family units, and 130 senior living units, as well as hospitality and other destination oriented venues.

Ross Dress for Less announced three new stores, part of the retailer’s 2016 expansion program, which calls for 70 new locations.

Ross will open a new store and relocate a store in Mobile, Alabama on March 5. The new 25,000-sq.-ft. West Mobile store is located in Westwood Plaza, one mile east of the Mobile Regional Airport. The Mobile location is a 25,000-sq-ft. store that relocated into the McGowin Park East Shopping Center at the southeast corner of Interstate 65 and Highway 90.

Walgreens Boots Alliance is exploring the possibility behind opening a retail pharmacy stake in Australia, The Sydney Morning Herald reported Friday. Though current government restrictions prevent corporate-owned pharmacies from setting up shop, that could change as "the government has commissioned an independent review of pharmacy regulations, which is due to report in March 2017," the paper reported.